1 The EIC Accelerator Project

The EIC Accelerator program is a key initiative under the European Innovation Council (EIC) designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This program aims to fuel the development and scaling of groundbreaking technologies, particularly in the DeepTech sector. The EIC Accelerator provides financial support in the form of blended finance, combining grants and equity investments to help companies transition from the prototype stage to the market.

Grant and Equity Financing

Under the EIC Accelerator, companies can receive a grant of up to €2.5 million. This funding is intended to cover development costs related to innovative projects, including technology development, testing, and market entry strategies. Additionally, the program offers equity financing, which has evolved over time: until 2024, companies can access up to €15 million in equity funding, while from 2025 onwards, this amount will be capped at €10 million. This dual funding structure is designed to provide companies with the necessary capital to scale their operations while reducing reliance on traditional private financing sources.

Purpose and Impact

The primary purpose of the EIC Accelerator is to bolster the European DeepTech and startup ecosystem. By providing financial assistance and support, the program seeks to address critical funding gaps that innovative companies often face, particularly in the early stages of development. This initiative is crucial for fostering innovation within Europe, enabling startups to bring disruptive technologies to market, create jobs, and drive economic growth. The EIC Accelerator also plays a pivotal role in attracting private sector investments, as the funding provided can serve as a leverage point for securing additional investments from venture capitalists and other private investors.

Case Study: CONNECTING FOOD and the DIGI-TRUSTY Project

CONNECTING FOOD, a French startup, emerged as a winner of the EIC Accelerator with its project titled DIGI-TRUSTY—short for "DIGItal Twins of food products UnleaShing TransparencY." This project was submitted on March 23, 2022, and successfully progressed through the EIC Accelerator's rigorous evaluation process.

Project Overview

DIGI-TRUSTY focuses on leveraging digital twin technology to enhance transparency in the food supply chain. The project aims to create digital replicas of food products that can provide real-time data about their journey from farm to table. This innovation is particularly timely, given the rising consumer demand for transparency regarding food provenance, safety, and sustainability.

Technology Background

The core technology behind DIGI-TRUSTY involves creating sophisticated digital models that simulate the physical attributes and behaviors of food products. By employing advanced data analytics, artificial intelligence (AI), and the Internet of Things (IoT), CONNECTING FOOD intends to track and verify various parameters such as nutritional content, sourcing practices, and environmental impacts.

The digital twin technology serves multiple purposes:

Conclusion

The EIC Accelerator program serves as a crucial enabler for innovative projects like DIGI-TRUSTY by providing a unique blend of grant and equity financing. Through this support, CONNECTING FOOD is positioned to revolutionize transparency in the food industry, addressing consumer demands for safety and sustainability while contributing to the broader goals of innovation and economic growth within the European ecosystem. The success of this project exemplifies the transformative potential of the EIC Accelerator in supporting DeepTech ventures that seek to make a meaningful impact on society.

2 The Funding Rounds

Financing Raised

Connecting Food, a French foodtech company specializing in blockchain-based traceability for the agri-food sector, has raised between $3.2 million and $7.58 million since its inception, depending on the reporting source. The main funding rounds include two significant seed rounds and support from notable European investors.

Funding Rounds: Timing and Amounts

• February 26, 2020 (Seed Round): Connecting Food raised approximately €4.17 million (about $4.59 million) in a seed round led by LeadBlock Partners.
• February 15, 2022 (Seed Round): The company secured another €2.7 million in seed funding.
• Some reports cite a total of $7.58 million raised to date—likely aggregating all disclosed investment tranches and possibly including grants or accelerator support such as EIC Accelerator funding.

Summary Table of Key Rounds

Date	Round	Amount (€)	Approximate USD Equivalent	Lead Investor
Feb 26, 2020	Seed	€4.17M	~$4.59M	LeadBlock Partners
Feb 15, 2022	Seed	€2.70M	~$3M	Undisclosed

Investors Involved

Key investors backing Connecting Food include:

• LeadBlock Partners: Led at least one major seed round.
• European Innovation Council Fund: Provided venture investment as part of the EIC Accelerator program.
• Additional investors: SAP.iO Foundry Paris, IDIA Capital Investissement, EIT Digital Accelerator.

These investor details reflect both direct capital injections and participation via public innovation funds supporting deeptech startups across Europe.

Company Valuation

The most recent available data places Connecting Food’s enterprise valuation at approximately $21 million as of September 2022—shortly after their latest major funding event. A post-money valuation from early 2022 was reported at around €18.7 million following the €2.7M raise; this equates to roughly $20–21M using contemporary exchange rates.

Exit Events: IPOs or Acquisitions

There have been no reported exit events—such as IPOs or acquisitions—for Connecting Food since it won EIC Accelerator funding in March 2022 through April 24th, 2025.

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Sources

• Connecting Food - Funding, Investors & More - Seedtable
• Connecting Food - Funding Rounds - CryptoRank
• Connecting Food Web3 Crypto Company Profile - Cointime.ai
• Connecting Food company information & financials - Dealroom.co
• Connecting Food Company Information – Seedtable
• CB Insights – Connecting Food Financial Overview

3 The Press Releases

Connecting Food: Overview and Updates

Introduction to Connecting Food

Connecting Food is a French company that specializes in leveraging technology to enhance traceability and transparency in the food industry. The company gained significant recognition after winning the EIC Accelerator funding on March 23, 2022. This funding has supported their mission to utilize blockchain and real-time tracking to improve product traceability, thereby boosting consumer trust and brand equity.

Technology and Advancements

• Blockchain Technology: Connecting Food employs blockchain to ensure end-to-end traceability of food products. This technology allows consumers to access detailed information about the origin and production process of their food by scanning a QR code, thereby enhancing transparency and trust in the food supply chain.
• LiveAudit: The company has developed LiveAudit, a system that combines blockchain with auditing capabilities, enabling real-time monitoring of food products. This innovation empowers suppliers, brands, and retailers to verify that their products meet the claims made on their labels.

Partnerships and Collaborations

• Barilla Group: Connecting Food has partnered with the Barilla Group, integrating their traceability and supply chain management system to enhance agricultural data valuation from "field to fork".
• Ingredia: They have also collaborated with Ingredia to ensure traceability and auditing of Via Lacta milk using their blockchain platform.
• Terres du Sud: Together with Terres du Sud, Connecting Food launched the first blockchain for the duck sector under the "Delmond L’Originel" brand.

Awards and Recognition

• Seal of Excellence: Connecting Food received the Seal of Excellence from the European Union, a prestigious award for outstanding project proposals submitted to Horizon 2020.
• SAP.io Agtech Accelerator: They were selected as one of the laureates of the SAP.io Agtech Accelerator, further highlighting their innovative contributions to the agricultural technology sector.

Press Releases and Blog Updates

The company regularly publishes updates on their blog, including press releases about new partnerships and technology advancements. For instance, they announced the launch of a transparency project with Mondelez U.S. and highlighted their collaboration with xFarm to discuss the valuation of agricultural data.

Sources: - Blog - Connecting Food

• Resources - Connecting Food
• Meet Maxine and Stefano from Connecting Food

4 The Technology Advancements

Connecting Food, a French blockchain-based traceability platform, has continued advancing its food supply chain solutions since receiving EIC Accelerator funding in March 2022. While specific details about their EIC-funded developments are not publicly disclosed, recent updates highlight the company’s growing capabilities and market presence.

Current Capabilities

The platform provides end-to-end blockchain traceability for food products, tracking details such as batch IDs, seed varieties, GPS coordinates of production sites, harvesting dates, and quality metrics (e.g., humidity rates, protein content). It integrates compliance features for EU and U.S. regulations while enabling real-time data sharing across stakeholders.

Post-EIC Accelerator Progress

Though no direct reports link their EIC funding to specific R&D milestones:

• Market Adoption: The platform is used by 6,855 stakeholders (as of early 2024), including major players like Nestlé.
• Technological Enhancements: Recent updates emphasize improved data granularity (e.g., pest control results and milling certifications) and streamlined compliance reporting.
• Demonstrations: Case studies show end-to-end tracking for products like organic wheat flour and bread batches with timestamps from farm to bakery.

No publicly available information confirms new patent filings or peer-reviewed studies since 2022. However; their SaaS model continues evolving toward greater interoperability in agri-food supply chains.

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Sources

• Connecting Food Official Website
• Sesamers: Connecting Food's Blockchain Innovation
• CEA Partnership Details

5 The Partnerships and Customers

Overview of Connecting Food

Connecting Food, a French company and winner of the EIC Accelerator funding in March 2022, has been leveraging partnerships and innovative strategies to position itself effectively in the market. However, there is limited specific information available about its partners or new relationships since receiving the funding.

Partnerships and Customers

While specific details about Connecting Food's partners or customers are not readily available, companies in similar segments often partner with food producers, distributors, or technology providers to enhance supply chain efficiency and access to markets.

New Partners

There are no publicly disclosed new partners or customers specifically for Connecting Food. However, partnerships in the food industry often involve collaborations with technology companies, logistics providers, or other food businesses to improve distribution and production efficiency.

Nature of New Relationships

Typically, new relationships in the food tech sector aim to enhance operational efficiency, reduce costs, and improve market reach. These partnerships can focus on technology advancements, such as integrating digital platforms for better supply chain management or leveraging AI for predictive analytics.

Positioning in the Market

For Connecting Food, new relationships could position the company as a leader in food technology by leveraging advanced digital solutions to streamline food distribution and access. This could involve partnerships with logistics companies, food producers, or technology firms to create a more efficient and sustainable food supply chain.

Scaling and Technology Advancements

Partnerships can significantly aid Connecting Food in scaling its operations by providing access to new markets and technological innovations. Collaborations with technology companies could help integrate cutting-edge solutions, such as blockchain for transparency or AI for predictive supply chain management, enhancing the company's competitiveness in the market.

Conclusion

While specific details about Connecting Food's partnerships are not available, the company's participation in the EIC Accelerator program suggests a focus on innovative solutions. Partnerships in the food tech industry generally aim to enhance efficiency, scalability, and technological capabilities, which would be crucial for Connecting Food's growth.

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Sources: - Connecting People with Charitable Food through New Home Delivery Partnerships

• Why Should You Build Long-Lasting Partnerships in the Food Industry
• Freight Farms Partners With Local Line to Support Farm Businesses

6 The Hiring and Company Growth

Connecting Food: Evolution and Growth Since EIC Accelerator Funding

Overview Connecting Food, a French company, won the EIC Accelerator funding in March 2022. The company operates in the foodtech sector, focusing on B2B SaaS solutions. Since receiving this funding, Connecting Food has continued to evolve and grow.

Team Growth and Current Headcount As of the latest available information, Connecting Food has between 11 and 51 employees. The company's specific headcount is not publicly disclosed, but this range suggests a small to medium-sized team.

Hiring Status There is no explicit information on whether Connecting Food is currently hiring. However, the growth of the company and its continued expansion in the foodtech sector may indicate ongoing recruitment efforts to support its business model.

Growth and Scaling Since its founding in 2016, Connecting Food has raised a total of $4.59 million in funding over one round. This financial support has likely contributed to its growth and ability to scale its operations in the competitive food technology market.

New Team Members and Future Impact New team members in companies like Connecting Food typically play a crucial role in driving innovation and scaling business operations. For Connecting Food, additional talent would help enhance its SaaS offerings, improve customer engagement, and expand its market reach, ultimately contributing to the company's future growth and success in the foodtech industry.

Management or Founding Team Changes There is no specific information available regarding major changes in the management or founding team of Connecting Food since it received the EIC Accelerator funding.

Sources

Connecting Food Company Information - Funding, Investors, and More

This information provides a general overview of Connecting Food's status and growth but highlights the need for more specific data on current hiring processes, key positions filled, and any management changes.

7 The Media Features and Publications

Media Presence and Activities of CONNECTING FOOD Post-EIC Accelerator Funding CONNECTING FOOD, a French agri-food technology company awarded EIC Accelerator funding in March 2022, has likely leveraged its grant to expand media visibility and industry engagement. While specific mentions of the company are absent from the provided search results, insights can be drawn from broader trends in food-tech media coverage and event participation:

Media Features & Publications:

Food-focused publications like SupplySide Food & Beverage Journal (link) emphasize clean-label product development and CPG innovation—areas aligned with CONNECTING FOOD’s mission. The Food, Media, and Culture Journal (link), which explores social media’s impact on food culture, may provide indirect insights into strategies adopted by similar companies.

Podcasts & Interviews:

Industry podcasts such as Food Connected (link) regularly feature culinary marketing leaders and tech innovators, though no direct episodes referencing CONNECTING FOOD are listed. The Taste Buds with Deb podcast (link) highlights food entrepreneurs but lacks specific mentions of the company.

Conferences & Events:

Slow Food USA’s leadership conferences (e.g., “Connecting U.S. Food Communities” in 2013) focused on local food networks and biodiversity—themes relevant to traceability solutions like those offered by CONNECTING FOOD. However, participation in recent events post-2022 is not documented here.

Event Involvement:

EIC Accelerator winners typically attend EU-sponsored fairs (e.g., Hello Tomorrow Summit) or agri-tech expos to showcase innovations. While no direct evidence exists here, such activities would align with standard post-grant outreach efforts for deep-tech startups.

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Sources

• SupplySide Food & Beverage Journal
• Food Connected Podcast
• Slow Food: Connecting U.S. Food Communities
• Food, Media, and Culture Journal - American University
• How to Start a Food Podcast or Live Stream - Eat Blog Talk

(Note: Specific details about CONNECTING FOOD’s activities could not be verified through the provided search results; further research via industry databases or the company website is recommended.)