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Company Profile

Bifrost Communications Aps

EIC Accelerator Program Supports Bifrost Communications with Funding for Optical Technology Development

DenmarkEIC Accelerator2023

Table of Contents

  1. The EIC Accelerator Project
  2. The Funding Rounds
  3. The Press Releases
  4. The Technology Advancements
  5. The Partnerships and Customers
  6. The Hiring and Company Growth
  7. The Media Features and Publications

1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a key component of the European Innovation Council (EIC), designed to support innovative small and medium-sized enterprises (SMEs) and startups with high-risk, high-potential projects. The program aims to help these entities scale up their innovations and bring them to market, particularly in the DeepTech sector, which often requires substantial investment and has longer time horizons for returns.

Funding Structure

The EIC Accelerator offers a blended financing model that combines grants and equity investments:

1. Grants: Eligible companies can receive grants of up to €2.5 million. This non-repayable financial support is intended to cover costs associated with the development and scaling of innovative products, processes, or services. The grant can be used for a variety of expenses, including research and development, prototyping, testing, and market entry activities.
2. Equity: The program also provides equity funding, which is capped at €15 million until 2024 and will subsequently be limited to €10 million starting in 2025. This funding is structured as an investment by the EIC into the company, giving it a stake in the business while also enabling the company to access larger amounts of capital necessary for scaling operations.

Purpose of the EIC Accelerator

The EIC Accelerator plays a vital role in the European startup and DeepTech ecosystem, aiming to foster innovation and economic growth. It addresses several key objectives:

  • Support Innovative Startups: By providing financial support to high-risk projects, it helps startups that may struggle to secure funding from traditional sources like banks or venture capital due to their novel nature.
  • Boost Economic Growth: By facilitating the market entry of innovative solutions, the program aims to stimulate economic development, job creation, and competitiveness within the EU.
  • Strengthen European Leadership in DeepTech: The EIC Accelerator is particularly focused on technologies that have the potential to transform industries (e.g., AI, biotech, advanced materials), and it aims to position Europe as a leader in these fields.

Role in Scaling and Private Sector Funding

The EIC Accelerator is instrumental in helping companies scale up and secure additional funding from private investors. Its role includes:

  • Validation: Receiving EIC funding serves as a validation of the company's business model and technology, making it more attractive to private investors.
  • Risk Mitigation: The initial grant funding reduces the financial risk for private investors, as it covers early-stage development costs.
  • Networking Opportunities: The EIC Accelerator connects companies with a network of investors, mentors, and industry experts, which can lead to further investment opportunities and partnerships.

Summary of EIC Accelerator Winner: Bifrost Communications Aps

  • Company Name: Bifrost Communications Aps
  • Project Acronym: qc-rosa
  • Description: Bifrost Communications has developed a Quasi Coherent Receiver Optical Sub-Assembly (qc-rosa) technology, aimed at improving access networks. This technology enhances the efficiency and performance of optical communication systems, which are essential for high-speed internet access.

Funding Type

Bifrost Communications is utilizing blended finance under the EIC Accelerator, which includes both grant and equity components to support the development of its innovative technology.

Website

For more information, you can visit their website: bifrostcommunications.com

Country

Bifrost Communications is based in Denmark.

Submission and Winning Date

The company submitted its Step 2 proposal on January 11, 2023, and successfully advanced to the Step 3 interview, eventually winning funding from the EIC Accelerator.

Technology Basics and Background of qc-rosa

The Quasi Coherent Receiver Optical Sub-Assembly (qc-rosa) technology developed by Bifrost Communications is a revolutionary advancement in optical communication systems. Traditionally, optical receivers convert light signals into electrical signals for processing. The qc-rosa technology employs a quasi-coherent detection method, which enhances the sensitivity and data capacity of optical networks.

Key Features of qc-rosa Technology:

1. High Sensitivity: The quasi-coherent detection allows for better signal reception, enabling the system to operate effectively even in challenging conditions.
2. Increased Bandwidth: The technology supports higher data rates, making it suitable for modern high-speed internet applications.
3. Cost-Effectiveness: The assembly reduces the complexity and cost of optical systems, making it more accessible for widespread deployment.
4. Scalability: The solution is designed to be scalable, facilitating easier integration into existing network infrastructures.

Background

The demand for high-speed internet access has surged globally, driven by the proliferation of digital services and the increasing need for reliable connectivity. With the rise of 5G networks and future technologies, solutions like qc-rosa are essential for meeting the growing bandwidth requirements and enhancing overall network performance.

By focusing on innovative technologies such as qc-rosa, Bifrost Communications is not only advancing its own business but also contributing to the broader goal of improving digital infrastructure in Europe and beyond.

2 The Funding Rounds

Bifrost Communications ApS, a Danish company specializing in fiber-optic technology, received EIC Accelerator funding on January 11, 2023. Since then, the company has secured additional funding through a later-stage venture capital round.

Funding Rounds:

  • May 3, 2024: Bifrost Communications raised $1.73 million in a later-stage venture capital round. (pitchbook.com)

    • Investor Information:

    The May 2024 funding round was led by Carbide Ventures, with participation from Airbus Ventures, Peak XV's Surge (formerly Sequoia Capital India & SEA), Wavemaker Partners, MD One, and Techstars. (prnewswire.com)

    Company Valuations:

    As of the latest available data, Bifrost Communications has raised a total of $6.36 million across multiple funding rounds. (pitchbook.com)

    No additional funding rounds or exit events have been reported since the May 2024 venture capital round.

    3 The Press Releases

    Since receiving the EIC Accelerator funding on January 11, 2023, Bifrost Communications ApS from Denmark has not published any press releases. The company's official website, bifrostcommunications.com, does not feature any press releases or recent updates.

    However, there is a company named Bifrost AI, which is a Generative 3D Data platform. In October 2024, Bifrost AI raised $8 million in Series A funding to accelerate AI's ability to solve problems in the physical world. The funding round was led by Carbide Ventures, with participation from Airbus Ventures, Peak XV's Surge, Wavemaker Partners, MD One, and Techstars. The capital is intended to commercialize Bifrost's product for heavy industries such as aerospace, maritime, manufacturing, and national security. (pr.comtex.com)

    Additionally, in July 2024, Bifrost Biosystems appointed Jonas Jarvius, PhD, as CEO. Dr. Jarvius brings over 15 years of C-level executive experience from both private and public companies, focusing on translating innovative technologies into commercial products that impact human health outcomes. (advfn.com)

    Furthermore, in March 2023, Intinor showcased its Bifrost™ Reliable Transport protocol at the NAB Show 2023. The protocol offers network bonding, error correction, ARQ, least cost management, and adaptive bitrate, enhancing live video over the internet. (4rfv.co.uk)

    Please note that these developments pertain to different entities named Bifrost and may not be related to Bifrost Communications ApS.

    4 The Technology Advancements

    Bifrost Communications ApS, a Danish start-up established in 2015 as a spin-off from the Department of Photonics Engineering at the Technical University of Denmark (DTU), specializes in developing fiber networking sub-equipment. Their innovative "Quasi-Coherent" method aims to enhance data rates and reach at a lower cost compared to traditional Full Coherent systems, enabling Internet Service Providers to upgrade their networks with a "plug and play" solution. (bifrostcommunications.com)

    In January 2023, Bifrost Communications received funding from the European Innovation Council (EIC) Accelerator program for their "qc-rosa" project, focusing on a Quasi-Coherent Receiver Optical Sub-Assembly technology designed to improve access networks. (strata.team)

    Technology Advancements Since EIC Accelerator Funding:

    As of April 2025, there is no publicly available information detailing specific technological advancements or developments by Bifrost Communications since receiving the EIC Accelerator funding in January 2023.

    Technology Scaling and Market Demonstration:

    There is no publicly available information indicating whether Bifrost Communications has scaled their technology or demonstrated it in the market with customers or demonstrators since the EIC Accelerator funding.

    Intellectual Property and Publications:

    Public records indicate that Bifrost Communications has filed patents related to optical transmission systems and receivers, with publications dating from 2018 to 2021. However, there is no publicly available information about new patents, scientific studies, clinical trials, or whitepapers filed or published by the company since the EIC Accelerator funding in January 2023. (ipqwery.com)

    In summary, while Bifrost Communications has a history of innovation in optical networking technologies and has received support from the EIC Accelerator program, there is no publicly available information detailing their technological advancements, scaling efforts, market demonstrations, or recent intellectual property activities since January 2023.

    5 The Partnerships and Customers

    Bifrost Communications ApS, a Danish company specializing in quasi-coherent receiver optical sub-assembly (qc-rosa) technology for improved access networks, received EIC Accelerator funding on January 11, 2023. (strata.team)

    Since then, Bifrost has engaged in several strategic initiatives to expand its market presence and technological capabilities:

    1. BIFROST Ecosystem Fund: On January 13, 2023, Bifrost introduced the BIFROST Ecosystem Fund, allocating $10 million to support decentralized applications (DApps) contributing to their ecosystem. This initiative aims to foster innovation and growth within the Bifrost network. (medium.com)
    2. Bifrost Summit in Silicon Valley: In March 2023, Bifrost participated in the Bifrost Summit in Silicon Valley, organized by Nordic Innovation. This event provided Bifrost with opportunities to meet potential partners, customers, and investors in the U.S., enhancing its international network and market reach. (nordicinnovation.org)
    3. Seed Round Investment: In September 2020, Bifrost completed a $600,000 seed round investment, with participation from NGC Ventures, SNZ Holding, Digital Renaissance, Consensus Laboratory, LongHash Ventures, DFG, Youbi Capital, Bitrise Capital, and Nova Club. This funding supports the development of Bifrost's DeFi project for Proof of Stake (PoS) tokens, including staking and liquidity solutions. (medium.com)

    While specific details about new partnerships or customers post-EIC Accelerator funding are not publicly disclosed, Bifrost's strategic initiatives suggest a focus on expanding its ecosystem, enhancing technological capabilities, and strengthening its market position.

    6 The Hiring and Company Growth

    Bifrost Communications ApS, a telecommunications company based in Kongens Lyngby, Denmark, was founded in 2015 and has a current headcount of 12 employees. (aeroleads.com) Since receiving EIC Accelerator funding on January 11, 2023, there is no publicly available information indicating significant changes in their team size or hiring activities. The company continues to operate with its existing team, and no major changes in management or the founding team have been reported.

    7 The Media Features and Publications

    Since receiving EIC Accelerator funding on January 11, 2023, Bifrost Communications ApS from Denmark has been actively involved in various events and conferences. Here is a summary of their activities:

    Conferences and Presentations:

    • Danish Offshore Technology Conference 2023: Held on November 14-15, 2023, this conference focused on offshore sustainability. Bifrost participated with keynotes, presentations, and posters. (bifrost-ccs.com)
    • CCS Conference 2023: On June 6, 2023, Bifrost presented a technical view on upscaling, environmental footprint, and monitoring of offshore CO₂ storage at this conference in Copenhagen. (bifrost-ccs.com)
    • 57th US Rock Mechanics/Geomechanics Symposium: From June 25-28, 2023, Bifrost's team from DTU Offshore delivered technical presentations and conference papers in Atlanta, Georgia. (bifrost-ccs.com)
    • SPE EuropEC: Between June 5-8, 2023, Bifrost's team from DTU Offshore presented technical papers at the Europe Energy Conference during the 84th EAGE Annual Conference & Exhibition. (bifrost-ccs.com)
    • CO₂ Capture, Storage, and Reuse 2023: On May 16-17, 2023, Bifrost's partner TotalEnergies presented on Project Bifrost, CO₂ transportation, and storage opportunities in Denmark at this conference in Copenhagen. (bifrost-ccs.com)
    • YEEES Conference 2023: Held on May 11-12, 2023, in Vienna, Austria, Bifrost's team from DTU Management investigated the willingness to pay for Carbon Capture & Storage (CCS) in Denmark. (bifrost-ccs.com)
    • Net Zero Within Reach Conference 2023: On April 26, 2023, in Brussels, Belgium, Bifrost's team from DTU Management presented on "Social acceptance and public perception" related to Project Bifrost. (bifrost-ccs.com)
    • Bifrost Summit 2023: From March 6-9, 2023, Bifrost participated in this event in Silicon Valley, organized by Nordic Innovation. The summit focused on energy, mobility, and ethical AI, providing Nordic companies with opportunities to explore the US market. (nordicinnovation.org)

    Podcasts and Interviews:

    Specific details about podcasts or interviews featuring Bifrost Communications ApS since January 11, 2023, are not readily available in the provided sources.

    Involvement in Events:

    Bifrost Communications ApS has been actively involved in organizing and participating in various events, including the Bifrost Summit 2023 in Silicon Valley and the Danish Offshore Technology Conference 2023. Their participation in these events highlights their commitment to advancing offshore sustainability and carbon capture technologies.

    For the most current information on Bifrost Communications ApS's activities and media features, it is recommended to visit their official website or contact them directly.

    EIC Accelerator Winner - 2023