1 The EIC Accelerator Project

EIC Accelerator Program: Overview and Purpose

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs), particularly those engaged in deep-tech innovation. This program aims to foster the development of breakthrough technologies and business models, thereby enhancing the European startup ecosystem. The EIC Accelerator facilitates the transition from idea to market by providing financial support and mentorship, helping startups scale their operations and attract private investment.

Funding Structure

The EIC Accelerator offers a blended finance model, which combines grants and equity investment. The grant component can reach up to €2.5 million, aimed at covering costs associated with innovation, including R&D, prototyping, and testing. This grant is crucial for startups in the early stages, as it provides the necessary financial cushion to develop their technologies without the immediate pressure of revenue generation.

In addition, the equity component offers funding up to €15 million until 2024, which has been adjusted to a cap of €10 million starting in 2025. This investment is intended to support companies in scaling their operations and penetrating the market effectively. The equity funding can significantly enhance a company's financial stability and growth potential, enabling it to attract additional investments from private sectors.

Role in the Ecosystem

The EIC Accelerator plays a pivotal role in helping companies navigate the complex landscape of scaling their businesses. By providing substantial financial resources, it reduces the barriers to entry for innovative technologies and solutions. The program not only offers funding but also connects startups with industry experts, investors, and potential partners, fostering an ecosystem conducive to growth and innovation.

EYE4NIR and the CHEERS Project

Company Overview

EYE4NIR srl, based in Italy, has emerged as a significant player in the field of imaging technology. The company focuses on the development of advanced sensor systems that integrate visible and infrared imaging capabilities.

Project Summary: CHEERS

The EYE4NIR project, known by the acronym CHEERS (Chip-scALe visiBLE-iNfrared imaGing sEnsor), aims to revolutionize imaging technologies by developing a cutting-edge sensor that combines visible light and near-infrared imaging on a single chip. This integration allows for enhanced imaging capabilities, enabling applications across various sectors, including medical diagnostics, agricultural monitoring, and security systems.

Technology Basics and Background

The CHEERS project focuses on creating a novel sensor architecture that leverages advances in semiconductor technology. Traditional imaging systems often separate visible and infrared imaging, which can limit their effectiveness and applicability. By integrating these functionalities into a single chip, the CHEERS project aims to provide higher resolution images, improved sensitivity, and the ability to operate under various lighting conditions.

The technology involves the use of advanced materials and fabrication techniques that allow for the miniaturization of components without compromising performance. The sensor is designed to capture a wider spectrum of light, thus providing more detailed and informative images. This capability is particularly beneficial in fields such as healthcare, where accurate imaging can lead to better diagnostics and patient outcomes.

Moreover, the project addresses the growing demand for compact, efficient imaging solutions that can be easily integrated into existing systems. By harnessing the power of deep-tech innovation, EYE4NIR aims to position itself as a leader in the imaging technology market, driving advancements that can have a significant impact on various industries.

Conclusion

The EIC Accelerator program serves as a critical enabler for innovative companies like EYE4NIR srl. Through the CHEERS project, the company is poised to make substantial contributions to the imaging technology landscape, showcasing the potential of blended finance in propelling startups towards market success. As the European deep-tech ecosystem continues to evolve, the EIC Accelerator remains a vital resource for fostering innovation and scaling transformative technologies.

2 The Funding Rounds

Financing Raised by EYE4NIR srl (Italy) Since EIC Accelerator Funding in March 2024

Overview of EIC Accelerator Funding

EYE4NIR srl, an Italian deep-tech company specializing in innovative SWIR (Short Wave Infrared) imaging technologies, won the prestigious EIC Accelerator funding following the March 13, 2024 cut-off. The results for this round were published on July 15, 2024. The EIC Accelerator typically provides a mix of grant and equity funding—referred to as "blended finance"—with average allocations per company being approximately €6.04 million (€2.46 million as grant and €3.71 million as equity). Of the funded companies in this round, nearly all (96%) received blended finance.

Timing and Amount of Funding Rounds

• EIC Accelerator Round
• Date: Application cut-off: March 13, 2024; Results published: July 15, 2024
• Funding Type: Blended finance (grant + equity)
• Average per winner: ~€6M (€2–2.5M grant; €3–3.7M equity)
• Exact amount for each company is not disclosed publicly by default but falls within these averages for awardees.
• Previous Rounds
• Prior to winning the EIC Accelerator:
• Seed Round: September 2021
• Amount: €600K
• Lead Investor: Eureka! Fund I
• Other Co-investors: Not specified in public records but includes at least one more party.
• No evidence found of additional rounds or larger venture rounds between September 2021 and the March/July EIC announcement.

Investors Involved

• Prior to March/July 2024:
• Eureka! Venture SGR via Eureka! Fund I led a seed round investment into EYE4NIR in September 2021.
• Co-investors included “360 CP” according to portfolio disclosures.
• EIC Fund Participation:
• With its blended finance win under the European Innovation Council’s program, the European Innovation Council Fund has become a significant stakeholder through both its direct grant allocation and conditional equity commitment. Details on any syndicate partners or matched private co-investors are not specified.

Information Related to Recent Rounds

The most recent major capital event for EYE4NIR is securing blended financing from the EU’s flagship innovation fund—the EIC Accelerator—in mid-2024.

Key points about this event: - This support includes both non-dilutive grants and dilutive equity investments.

The funding is part of a highly competitive call with only a ~7% success rate from full proposals submitted across Europe.

As typical with such programs, disbursement occurs after due diligence processes conclude post-announcement.

Company Valuations

No public data has been disclosed regarding specific pre-money or post-money valuations for either their seed round (September 2021) or subsequent fundraising after winning the accelerator grant/equity package.

However,

Companies receiving blended financing under similar circumstances often see implied valuations well above seed-stage levels due to substantial non-dilutive capital inflow plus new institutional investors joining their cap table through conditional equity commitments.

Detailed valuation figures may emerge once follow-on rounds are completed or if disclosures are made during later-stage fundraising.

Exit Events (IPO/Buyout/Acquisition)

There have been no reported exit events such as IPOs, buyouts, or acquisitions involving EYE4NIR srl up until May 06, 2025 based on available data sources reviewed here.

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Sources

• EUREKA! Venture – Eye4nir Portfolio
• Rasph – Detailed Analysis of Funding Distribution & Success Rates
• Strata Team – Statistics & Results from March 24 Call

3 The Press Releases

EYE4NIR srl: Post-EIC Accelerator Funding Overview EYE4NIR srl, an Italian deep-tech company, secured EIC Accelerator funding in the March 2024 cut-off (submitted March 13, 2024), as part of the 68 selected companies from a highly competitive pool of 969 applicants. While specific details about EYE4NIR’s project or post-funding updates are not publicly disclosed in the analyzed sources, the following framework reflects typical advancements for EIC-funded companies and how such information would typically be presented:

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Technology Advancements

Companies funded by the EIC Accelerator often focus on deep-tech innovations, including optics, AI-driven solutions, or advanced sensing technologies. For EYE4NIR (specialization unconfirmed but inferred from its name), potential areas could involve near-infrared spectroscopy or optical systems for industrial or biomedical applications. The €411 million budget allocated across winners suggests substantial R&D investments in proprietary technology.

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Partnerships and Collaborations

Post-funding collaborations with academic institutions, industry leaders, or EU innovation networks are common among EIC recipients. These partnerships may target scaling production capabilities or integrating novel technologies into commercial workflows.

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Team and Operational Updates

The EIC Accelerator’s blended finance model (used by 96% of March 2024 winners) enables hiring specialists and expanding operations. Companies frequently announce leadership changes or new advisory board members to align with growth phases.

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Patents and IP Developments

While no patents are specified for EYE4NIR in available sources, securing IP protection is a priority for deep-tech startups under EU grants. Public patent filings would likely follow funding milestones.

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Press Releases and Public Communication

No press releases from eye4nir.com were identified in search results. However:

• Social media announcements: Best practices recommend multimedia posts (e.g., short videos explaining the grant’s impact).
• Website updates: A dedicated “News” section with grant announcements should include boilerplate details about the company’s mission.

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Challenges in Available Data

Publicly indexed materials lack specifics about EYE4NIR srl. This gap is common for early-stage deep-tech firms prioritizing stealth R&D over public outreach until product commercialization.

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Sources Used for Contextual Analysis:

• EIC Accelerator March 2024 Results
• EIC Accelerator Statistics – March 2024 call
• Social Media Press Release Guide

Note: Direct references to eye4nir.com yielded no indexed content.

4 The Technology Advancements

EYE4NIR srl: Post-EIC Accelerator Funding Developments

EYE4NIR srl, an Italian innovator in VIS-SWIR imaging technology, continues to advance its mission of integrating short-wave infrared vision into industrial and automotive applications. Since securing EIC Accelerator funding in March 2024, the company’s progress can be inferred from available public information and industry trends:

Technological Capabilities

EYE4NIR specializes in germanium-on-silicon image sensors capable of detecting visible to short-wave infrared (VIS-SWIR) light within a single pixel. Their technology targets enhanced machine vision for industrial automation (material sorting, quality control), automotive safety (low-light driving assistance), and agricultural monitoring (water stress detection).

Post-Funding Advancements

While direct updates post-March 2024 are not explicitly detailed on their website or in the provided sources, recent investment activity indicates ongoing development. A February 2024 bridge round supported by EUREKA venture capital funds facilitated continued R&D efforts, likely aligning with EIC Accelerator objectives to scale their sensor solutions.

Market Demonstration & Clinical Trials

No specific customer pilots or clinical trials are mentioned in available materials. However, their stated applications—such as automotive safety systems for fog/low-light conditions and industrial moisture detection—suggest active use-case validation. The lack of published case studies implies these efforts may still be internal or under nondisclosure agreements.

IP & Publications

EYE4NIR has not publicly disclosed new patents or peer-reviewed studies since March 2024. Their earlier accolades—including the 2020 Premio dei Premi for innovation—highlight a historical focus on proprietary advancements but offer no recent IP updates. Current R&D likely focuses on refining sensor miniaturization and cost efficiency for broader market adoption.

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Sources

• EYE4NIR – See the world, extended!
• PRESS RELEASE GROWING REVENUE, MAINLY DRIVEN BY THE ...

5 The Partnerships and Customers

EYE4NIR srl: Enhancing Short-Wave Infrared Vision Technology

EYE4NIR srl, an Italian company specializing in Short-Wave Infrared (SWIR) vision technology, has been recognized for its innovative contributions. After winning the EIC Accelerator funding in March 2024, EYE4NIR srl has continued to advance its technology and partnerships.

Partnerships and Customers

While specific names of new customers or partners are not detailed in the available information, EYE4NIR srl has been involved with the EUREKA venture capital fund through investments made by the SAES Group. This association supports EYE4NIR's technological development activities, suggesting a continued focus on enhancing its SWIR imaging solutions.

New Relationships and Purpose

EYE4NIR's technology is designed to integrate SWIR vision into various applications such as automotive, industrial automation, and agriculture. New relationships, even if not explicitly named, are likely aimed at expanding these sectors by improving road safety, enhancing material recognition, and optimizing food quality inspections. The nature of these relationships is centered around technological innovation and market expansion.

Positioning in the Market

By leveraging its SWIR technology, EYE4NIR srl positions itself as a leader in the field of advanced image sensing. The EIC Accelerator funding and ongoing investments will help increase its market presence, particularly in industries requiring enhanced vision capabilities beyond human sight.

Technology Advancements and Scaling

The funding and partnerships will facilitate advancements in EYE4NIR's technology by supporting research and development. This will enable the company to scale its operations more effectively, entering new markets and expanding its customer base. The technology's ability to improve visibility in adverse conditions makes it highly valuable for sectors like automotive and industrial automation.

Sources:

EYE4NIR – See the world, extended SAES Group – Press Release SAES Group – Press Release

6 The Hiring and Company Growth

EYE4NIR srl: Expanding Vision with SWIR Technology

EYE4NIR srl, an innovative Italian company specializing in Short-Wave Infrared (SWIR) vision technology, secured funding from the EIC Accelerator in March 2024. This support marks a significant milestone in their journey to integrate SWIR imaging into various industries, including automotive, industrial automation, and agrifood tech.

Current Status and Growth

As of now, specific details about EYE4NIR's current headcount, team size, or recent hiring activities are not publicly available. However, their involvement in cutting-edge technologies suggests a focus on expanding their team with experts in physics, electronics, and opto-electronics to drive innovation.

Hiring and Team Expansion

EYE4NIR's receipt of EIC Accelerator funding is indicative of their growth potential, suggesting plans for strategic hiring to enhance their research and development capabilities. The company's emphasis on integrating SWIR vision into daily life implies a need for skilled personnel across various technical disciplines.

Key Positions and Future Implications

While specific recent hires are not disclosed, new team members would likely focus on advancing EYE4NIR's novel image sensors based on germanium-on-silicon thin films. These additions would be crucial for enhancing their SWIR-enhanced imaging technology, supporting key EU initiatives, and driving innovation across sectors. The integration of new talent would help EYE4NIR scale and grow by improving road safety, enhancing industrial processes, and optimizing agricultural practices.

Management and Founding Team

There are no reported major changes in EYE4NIR's management or founding team since their EIC Accelerator win. The company remains committed to its mission under the leadership of a dedicated team with extensive experience in semiconductor technology.

Impact on Future Growth

EYE4NIR's novel sensing solutions are poised to significantly impact various industries by providing clear vision in compromised visibility conditions and enhancing machine vision capabilities. As they continue to expand their team and refine their technology, they are likely to play a pivotal role in driving European innovation and economic growth.

Sources

• EYE4NIR – See the world, extended
• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• 100 Top Hardware Companies in Italy

7 The Media Features and Publications

EYE4NIR srl: Media Features, Events, and EIC Accelerator Recognition

EYE4NIR srl, an Italian deep-tech company specializing in visible and short-wave infrared (SWIR) imaging sensors, gained significant recognition after securing EIC Accelerator funding in March 2024 for its CHEERS project (Chip-scALe visiBLE-iNfrared imaGing sEnsor). While direct media coverage post-funding remains limited based on available data, the company’s public footprint includes:

Awards and Accolades

• Premio dei Premi 2020: Awarded by Fondazione COTEC under the auspices of Italy’s presidency for innovation excellence.
• Premio Nazionale Innovazione 2020: Industrial category winner for advancing SWIR sensor technology.
• StartCup Lombardia 2020: Winner in Industrial Technologies.
• Switch2Product 2019: Recognized for its image sensor innovations by Politecnico di Milano’s incubator.

Conference Participation

While specific presentations are not detailed publicly, EYE4NIR is listed among attendees at AutoSens Europe, a major automotive sensing conference, with representation as "eye4nir.com – Analog designer" in past attendee logs. The March 2024 SAES Getters financial report confirms ongoing technological development support via bridge funding, suggesting potential industry event engagements.

Publications and Media

No third-party articles or podcasts explicitly naming EYE4NIR were identified beyond award announcements and its inclusion in the July 2024 EIC Accelerator results list. The company’s website highlights collaborations with academic institutions like Politecnico di Milano but lacks interview transcripts or press releases post-EIC funding.

Post-EIC Accelerator Developments

The €411 million EIC Accelerator program listed EYE4NIR under Italy’s funded projects alongside other deep-tech innovators like France’s AURA AERO and Germany’s tozero GmbH. The CHEERS project aims to enhance SWIR imaging accessibility across automotive safety (e.g., fog-penetrating sensors) and industrial automation applications.

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Sources

• Premio dei Premi announcement
• Premio Nazionale Innovazione details
• StartCup Lombardia mention
• Switch2Product win notice
• AutoSens Europe attendee list
• SAES Getters funding reference (Note: Correct year might require verification)
• EIC Accelerator results listing (Note: URL likely reflects a typo; correct publication uses "march-2023" but references July 15, 2025) – use archival sources or official EU portals for precise records.

(For verified March 13–July 15, 2025 timelines related to the accelerator process cross-check EU official announcements.)*