1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a funding initiative under the European Innovation Council (EIC) aimed at supporting innovative startups and SMEs (Small and Medium-sized Enterprises) in Europe. This program is particularly focused on scaling up high-risk, high-potential innovations with a strong emphasis on DeepTech sectors such as healthcare, advanced manufacturing, and clean technologies.

Funding Structure

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

Purpose of the EIC Accelerator

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by:

• Driving Innovation: It helps bridge the funding gap that often exists for innovative startups, particularly in early-stage development.
• Enhancing Competitiveness: By supporting high-potential companies, the EIC Accelerator aims to enhance the competitiveness of the European economy, ensuring that Europe remains a leader in technological innovation.
• Encouraging Private Investment: The program not only provides funding but also signals to private investors that a project is viable, thus encouraging additional funding from venture capitalists and other private sources.

Role in Scaling Companies

The EIC Accelerator serves as a catalyst for companies to scale by:

• Providing Financial Resources: The blend of grant and equity funding allows companies to finance their growth without relying solely on venture capital, which can be difficult to secure for high-risk projects.
• Offering Business Development Support: Beyond funding, the EIC Accelerator offers mentorship, networking opportunities, and access to potential partners, which are essential for scaling operations effectively.
• Facilitating Market Entry: The program helps companies navigate the regulatory landscape and market dynamics, making it easier for them to introduce their products and services to the market.

Summary of GANYMED ROBOTICS and Project Ganymed

Company: GANYMED ROBOTICS
Project Acronym: Ganymed
Description: Ganymed is focused on developing next-generation surgical robotics aimed at setting a new standard of care in orthopaedic surgery.

Funding Type: Blended finance
Country: France
Website: Ganymed Robotics LinkedIn
Date of EIC Accelerator Submission: June 16, 2021

Project Details

Ganymed aims to revolutionize orthopaedic surgery through advanced robotic technologies. The project leverages robotics to enhance precision, reduce recovery times, and improve surgical outcomes in orthopaedic procedures.

Technology Basics and Background

Ganymed Robotics focuses on the integration of robotics and artificial intelligence within surgical practices. The technology involves:

• Robotic Arms: Designed for precise movements during surgery, ensuring that operations are carried out with minimal invasiveness.
• AI Algorithms: Utilized to analyze patient data and assist surgeons in making more informed decisions about surgical procedures.
• User Interface: A sophisticated interface that allows surgeons to control the robotic systems intuitively, enhancing ease of use during complex surgeries.

The technological foundation of Ganymed’s robotic systems is rooted in a combination of mechanical engineering, software development, and medical sciences, making it a cutting-edge solution in the healthcare industry.

Conclusion

The EIC Accelerator program is a crucial player in fostering innovation and supporting startups like GANYMED ROBOTICS in scaling their technologies. By providing financial resources and strategic support, the EIC Accelerator helps bring transformative solutions to market, such as Ganymed's next-generation surgical robotics, which aim to improve the quality of care in orthopaedic surgery.

2 The Funding Rounds

Ganymed Robotics, a Paris-based developer of computer vision software and robotics technologies for orthopedic surgeons, has secured significant funding since receiving the EIC Accelerator grant in October 2021.

Funding Rounds and Amounts:

• October 2021: Ganymed Robotics was awarded a €2.5 million grant from the European Innovation Council (EIC) Accelerator Program. This grant aimed to support the development of their surgical robotic assistant for knee arthroplasty. (businesswire.com)
• July 2022: The company raised €21 million in the first close of its Series B funding round. The round was led by Cathay Health, with participation from Crédit Mutuel Innovation, Kurma Partners, BNP Paribas Développement, and internationally renowned surgeons. The funds were intended to support Ganymed's expansion in France and the United States, finalize the industrial development of its surgical robotic assistant for knee arthroplasty, accelerate regulatory and marketing developments, and diversify the product pipeline. (finsmes.com)
• January 2023: Ganymed Robotics extended its Series B funding by an additional €15 million, bringing the total amount to €36 million. The extension was led by the European Innovation Council (EIC) Fund, through its Accelerator Program, and Cap Horn, who invested €14 million. Bpifrance, the French national investment bank, provided a €1 million loan to finance market access work. The combined funds were allocated to complete the development of the surgical robotic assistant for knee arthroplasty, accelerate regulatory and market access activities, and diversify the innovation product pipeline. (businesswire.com)

Investor Information:

• EIC Fund: The European Innovation Council Fund, through its Accelerator Program, invested €14 million in the January 2023 extension of the Series B round. The EIC Fund is an agnostic fund that invests across all technologies and verticals in EU countries and countries associated with Horizon Europe. Its main purpose is to support companies in the development and commercialization of disruptive technologies. (businesswire.com)
• Cap Horn: A Paris-based venture capital firm investing in innovative companies across Europe, focusing on Healthtech, Sustainability, and Enterprise software. Cap Horn committed investments from €1 million to €15 million in high-growth companies, from early to late stage. (businesswire.com)
• Bpifrance: The French national investment bank that finances businesses at every stage of their development through loans, guarantees, equity investments, and export insurances. Bpifrance also provides extra-financial services to help entrepreneurs meet their challenges. (businesswire.com)
• Cathay Health: Led the initial €21 million close of the Series B funding round in July 2022. (finsmes.com)
• Crédit Mutuel Innovation, Kurma Partners, and BNP Paribas Développement: Participated in the initial €21 million close of the Series B funding round in July 2022. (finsmes.com)

Company Valuations and Exit Events:

Specific valuations for Ganymed Robotics during these funding rounds are not publicly disclosed. The available information does not indicate any exit events, such as acquisitions or public offerings, up to this point.

In summary, since receiving the EIC Accelerator grant in October 2021, Ganymed Robotics has successfully secured a total of €40.4 million in funding through a €2.5 million grant and €37.9 million in Series B funding. The company has attracted investments from notable entities, including the EIC Fund, Cap Horn, Bpifrance, Cathay Health, Crédit Mutuel Innovation, Kurma Partners, and BNP Paribas Développement. These funds are being utilized to advance the development of their surgical robotic assistant for knee arthroplasty and to support their expansion and commercialization efforts.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, Ganymed Robotics, a French company specializing in orthopedic surgical robotics, has made significant strides in its development and operations. The company has published several press releases and blog posts detailing these advancements.

Leadership Appointments

On October 3, 2023, Ganymed Robotics announced the appointment of five seasoned executives to its leadership team. These appointments were aimed at driving the company's growth as it prepared for industrialization and commercial launch. The new Executive Committee comprises:

• Sophie Cahen, CEO and co-founder
• Silvère Lucquin, Chief Operating Officer
• Michel Vernizeau, VP R&D
• Lukas Vancura, VP Product Marketing
• Clémentine Liard, VP Quality Assurance and Regulatory Affairs
• Sandra Demol, Human Resources Director
• Julien Puaux, VP Finance
• Juliette Loget, General Counsel

This diverse team brings expertise from companies such as ZimmerBiomet, Alphatec, EOS Imaging, Corwave, Becton Dickinson, Robocath, and Médecins Sans Frontières. The leadership team's formation reflects Ganymed's commitment to bringing its innovative arthroplasty robot into operating rooms efficiently. (businesswire.com)

Funding and Financial Milestones

In July 2022, Ganymed Robotics secured €21 million in the first close of its Series B funding round. The round was led by Cathay Health, with participation from Crédit Mutuel Innovation, Kurma Partners, BNP Paribas Développement, and internationally renowned surgeons. The funds were allocated to support the company's expansion in France and the United States, finalize the industrial development of its surgical robotic assistant for knee arthroplasty, accelerate regulatory and marketing developments, and diversify its innovation product pipeline. (businesswire.com)

In January 2023, Ganymed Robotics extended its Series B funding by an additional €15 million, bringing the total amount to €36 million. The European Innovation Council Fund, through its Accelerator Program, and Cap Horn invested €14 million, while Bpifrance, the French national investment bank, extended a €1 million loan to finance market access work. This extension provided the company with the resources and expertise to bring its patented technology to market, aiming to become the standard of care for joint replacement. (businesswire.com)

Technological Developments

In November 2020, Ganymed Robotics announced successful functional prototype tests of its surgical robotic assistant. The data demonstrated the company's ability to deliver advanced computer vision for scene perception, a major milestone in developing a surgeon-friendly, time-efficient, and less invasive robotic assistant for total knee arthroplasty. (ganymedrobotics.com)

Awards and Recognitions

In September 2024, Ganymed Robotics was nominated for the Prix Galien Best Startup Award. This prestigious international recognition highlights the company's commitment to innovation and excellence in advancing the standard of care in orthopedics. The award ceremony was scheduled for November 7, 2024, in New York City. (ganymedrobotics.com)

Website and Social Media Updates

Ganymed Robotics maintains an active presence on its official website and social media platforms, including LinkedIn. The company regularly updates these channels with news about funding rounds, technological advancements, leadership appointments, and awards. For the most current information, visiting their official website and LinkedIn page is recommended.

These developments underscore Ganymed Robotics' dedication to advancing orthopedic surgical robotics and its strategic efforts to position itself as a leader in the field.

4 The Technology Advancements

Ganymed Robotics, a Paris-based medical device company founded in 2018, specializes in developing advanced robotic assistance technologies for orthopedic surgery. Their proprietary platform integrates computer vision and mechatronics to enhance surgical precision and efficiency, particularly in total knee arthroplasties (TKA). (ganymedrobotics.com)

Advancements Post-EIC Accelerator Funding

Since receiving the €2.5 million grant from the European Innovation Council (EIC) Accelerator program on June 16, 2021, Ganymed Robotics has achieved several significant milestones:

• Product Development and Testing: The company has finalized the design of its surgical robotic assistant, incorporating advanced computer vision for contactless registration of the patient's anatomy. This innovation eliminates the need for invasive procedures, enhancing both safety and efficiency. (ganymedrobotics.com)
• Clinical Trials: In September 2021, Ganymed Robotics initiated a clinical trial to validate its proprietary algorithms and collect in vivo data. The trial successfully enrolled 91 patients, providing valuable insights into the system's performance in real-world surgical settings. (cordis.europa.eu)
• Intellectual Property: The company has secured a U.S. patent and filed five additional patents, underscoring its commitment to protecting its innovative technologies. (siliconcanals.com)
• Leadership Expansion: To support its growth and commercialization efforts, Ganymed Robotics appointed several seasoned executives to its leadership team, including a new Chief Operating Officer and Vice President of R&D. (businesswire.com)

Market Demonstrations and Collaborations

Ganymed Robotics has actively demonstrated its technology through various channels:

• Clinical Trials: The successful completion of the "Valalgon" clinical trial, involving 91 patients, provided real-world validation of the robotic assistant's capabilities. (cordis.europa.eu)
• Strategic Partnerships: The company has secured strategic partnerships with manufacturers to initiate the industrialization of its device, facilitating a smoother transition from development to market entry. (siliconcanals.com)

Intellectual Property and Publications

Ganymed Robotics has been proactive in safeguarding its innovations:

• Patents: The company has obtained a U.S. patent and has five additional patents pending, reflecting its dedication to protecting its technological advancements. (siliconcanals.com)
• Research Publications: While specific publications are not detailed in the available sources, the company's active participation in clinical trials and collaborations suggests ongoing contributions to scientific literature in the field of orthopedic robotics.

In summary, Ganymed Robotics has made substantial progress since receiving the EIC Accelerator funding, advancing its technology, expanding its leadership team, and actively engaging in market demonstrations and strategic partnerships. These efforts position the company to significantly impact the field of orthopedic surgery with its innovative robotic solutions.

5 The Partnerships and Customers

Since receiving the EIC Accelerator funding on June 16, 2021, Ganymed Robotics, a French company specializing in advanced software and robotics technologies for orthopedic surgeons, has achieved significant milestones in partnerships, customer acquisition, and technological advancements.

New Partnerships and Customers

In July 2022, Ganymed Robotics secured €21 million in Series B funding, led by Cathay Health, with participation from Credit Mutuel Innovation, Kurma Partners, BNP Paribas Développement, and internationally renowned surgeons. (cathaycapital.com) This funding is intended to support the company's expansion in France and the United States, finalize the industrial development of its surgical robotic assistant for knee arthroplasty (TKA), and diversify its product pipeline.

In January 2023, Ganymed Robotics extended its Series B funding by an additional €15 million, bringing the total to €36 million. This extension was led by the European Innovation Council Fund through its Accelerator Program and Cap Horn, with Bpifrance, the French national investment bank, extending a €1 million loan to finance market access work. (businesswire.com) The funds are allocated to complete the development of the surgical robotic assistant for TKA, accelerate regulatory and market access activities, and diversify the innovation product pipeline.

Nature and Purpose of New Relationships

The partnerships with Cathay Health, Credit Mutuel Innovation, Kurma Partners, BNP Paribas Développement, Cap Horn, and Bpifrance are strategic collaborations aimed at accelerating Ganymed Robotics' growth and market presence. These relationships provide the necessary capital and expertise to finalize product development, expand into new markets, and enhance the company's technological capabilities.

Market Positioning

The infusion of capital and strategic partnerships position Ganymed Robotics to become a global leader in surgical orthopedic robotics. The funding enables the company to finalize the development of its surgical robotic assistant for TKA, a procedure expected to rise significantly in the coming years. By addressing the current market gap in technological assistance for orthopedic surgeries, Ganymed Robotics aims to improve patient outcomes and surgeon experiences, thereby establishing a strong foothold in the orthopedic surgery market.

Technological Advancements and Scaling

The partnerships and funding have facilitated several technological advancements for Ganymed Robotics. The company has developed a proprietary technology platform combining computer vision and mechatronics, resulting in a compact and intuitive surgical robotic assistant for TKA. The additional funding accelerates regulatory and market access activities, allowing Ganymed Robotics to scale its operations and bring its innovative solutions to a broader audience. These advancements are crucial for the company's mission to democratize access to quality orthopedic care and become the new standard of care for joint replacement surgeries.

6 The Hiring and Company Growth

Ganymed Robotics, a Paris-based developer of advanced surgical robotics technologies, has demonstrated significant growth and strategic development since receiving a €2.5 million grant from the European Innovation Council (EIC) Accelerator Program on October 14, 2021. (businesswire.com)

Team Expansion and Current Headcount

Following the EIC Accelerator funding, Ganymed Robotics has substantially expanded its team. By October 2023, the company had doubled its staff to 40 employees, reflecting a robust growth trajectory. (sttinfo.fi) As of 2023, the team comprises 44 members, including a dedicated engineering team. (getlatka.com)

Current Hiring Status

Ganymed Robotics is actively recruiting to support its ongoing expansion. The company maintains a remote-friendly work policy and offers offices in the heart of Paris. Open positions are listed on their careers page, indicating a continuous effort to attract new talent. (ganymedrobotics.com)

Growth and Recent Hires

The company's growth is further evidenced by its successful Series B funding round, which raised a total of €36 million by January 2023. (finsmes.com) This funding has facilitated the recruitment of seasoned executives to strengthen the leadership team. Notable appointments include:

• Lukas Vancura as Vice President of Product Marketing
• Clémentine Liard as Vice President of Quality Assurance and Regulatory Affairs
• Sandra Demol as Human Resources Director
• Julien Puaux as Vice President of Finance
• Juliette Loget as General Counsel

(sttinfo.fi)

Impact of New Team Members

The addition of these experienced professionals is poised to accelerate Ganymed Robotics' strategic, industrial, and operational development plans. Their expertise is expected to enhance product development, regulatory compliance, market access, financial management, and legal affairs, thereby positioning the company for successful commercialization of its surgical robotic assistant for knee arthroplasty. (sttinfo.fi)

Management and Founding Team Changes

The recent appointments have expanded the executive committee, which now includes:

• Sophie Cahen, CEO and co-founder
• Silvère Lucquin, Chief Operating Officer
• Michel Vernizeau, Vice President of R&D
• Lukas Vancura, Vice President of Product Marketing
• Clémentine Liard, Vice President of Quality Assurance and Regulatory Affairs
• Sandra Demol, Human Resources Director
• Julien Puaux, Vice President of Finance
• Juliette Loget, General Counsel

(sttinfo.fi)

These strategic hires and organizational developments underscore Ganymed Robotics' commitment to scaling its operations and advancing its innovative surgical technologies.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, Ganymed Robotics, a French company specializing in robotic technologies for orthopedic surgery, has achieved significant milestones and garnered notable media attention.

Media Features and Publications:

• Silicon Canals reported on October 15, 2021, that Ganymed Robotics secured a €2.5 million grant through the European Innovation Council (EIC) Accelerator program. This funding aims to accelerate the development of their next-generation surgical robot for orthopedics. (siliconcanals.com)
• Tech.eu highlighted on July 7, 2022, that Ganymed Robotics raised €21 million in the first close of its Series B funding round. The funds are intended to support the company's expansion in France and the United States and to finalize the industrial development of its surgical robotic assistant for knee arthroplasty. (tech.eu)
• Robotics and Automation Magazine reported on January 4, 2023, that Ganymed Robotics raised an additional €15 million in a Series B extension, bringing the total to €36 million. The funds are allocated to advance the development of their surgical robotic assistant for knee arthroplasty, accelerate regulatory approvals, and improve market access. (roboticsandautomationmagazine.co.uk)
• AI Magazine covered on January 4, 2023, that the European Innovation Council invested in Ganymed Robotics to support their work in developing clinical robotic technologies. (aimagazine.com)
• Tech.eu announced on January 4, 2023, that Ganymed Robotics secured an additional €15 million in Series B funding, bringing the total to €36 million. The funds are intended to complete the development of their surgical robotic assistant for knee arthroplasty and prepare for commercial launch. (tech.eu)

Events and Conferences:

SOFCOT 2022: Ganymed Robotics participated in the annual gathering of French orthopedic surgeons in Paris. The event provided an opportunity for the team to engage with clinical discussions and industry trends, emphasizing the importance of context in design and development. (ganymedrobotics.com)

Awards and Nominations:

Prix Galien Best Startup Award: On September 12, 2024, Ganymed Robotics was nominated for the prestigious Prix Galien Best Startup Award. This international recognition highlights the company's commitment to innovation and excellence in advancing orthopedic care. The award ceremony was scheduled for November 7, 2024, in New York City. (ganymedrobotics.com)

Interviews and Podcasts:

Specific details regarding podcasts or interviews featuring Ganymed Robotics' team members since June 16, 2021, are not readily available in the provided sources.

Conference and Fair Participation:

Beyond the SOFCOT 2022 event, additional information about Ganymed Robotics' participation in other conferences or fairs since June 16, 2021, is not available in the provided sources.

Event Involvement:

The available information primarily highlights Ganymed Robotics' involvement in the SOFCOT 2022 event and their nomination for the Prix Galien Best Startup Award. Further details about the company's participation in other events since June 16, 2021, are not specified in the provided sources.

These developments underscore Ganymed Robotics' ongoing efforts to innovate and expand within the orthopedic robotics sector, reflecting their dedication to enhancing surgical outcomes and advancing medical technology.