1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a flagship initiative under the European Innovation Council (EIC) aimed at supporting small and medium-sized enterprises (SMEs) and startups in the EU. Specifically designed for innovative deep-tech ventures, the program offers a unique funding combination that includes grants and equity investments to facilitate the commercialization of breakthrough technologies. The overarching objective of the EIC Accelerator is to enhance Europe's position as a global leader in innovation by enabling startups to scale efficiently and attract private investment.

Funding Structure

The EIC Accelerator provides blended finance, comprising a grant component of up to €2.5 million and an equity investment component. Until 2024, the equity investment can reach up to €15 million, while from 2025 onwards, this cap is reduced to €10 million. The grant is typically aimed at covering early-stage development costs, including research, testing, and prototyping, while the equity investment supports scaling efforts, enabling companies to expand their operations, enter new markets, and enhance their product offerings.

Purpose and Impact

The EIC Accelerator plays a critical role in the European DeepTech and startup ecosystem by bridging the funding gap that many innovative companies face during their early growth stages. By providing substantial financial resources along with mentorship, networking opportunities, and guidance on business development, the program significantly enhances the ability of startups to attract additional private investment. This support helps to mitigate the risks associated with technological innovation and allows companies to focus on refining their products and scaling their operations effectively.

LATITUDE and the ZEPHYR Project

LATITUDE, a French company, emerged as a winner of the EIC Accelerator for its project, ZEPHYR, submitted on March 13, 2024. The ZEPHYR project focuses on the development of an innovative GPM (Guidance, Navigation, and Control Payload Module) for the ZEPHYR microlauncher. This project has significant implications for the burgeoning small satellite launch market, which is rapidly evolving due to the increasing demand for satellite deployment.

Technology Basics and Background

The ZEPHYR microlauncher is designed to provide a cost-effective and efficient solution for launching small satellites into low Earth orbit (LEO). The Guidance, Navigation, and Control Payload Module (GPM) is central to this technology, as it ensures precise control and navigation capabilities throughout the launch process.

The GPM incorporates advanced algorithms and sensors that allow real-time adjustments to the flight path, ensuring that the payload reaches its intended orbit with high accuracy. This level of precision is essential in the competitive landscape of satellite launches, where even minor deviations can result in mission failure or increased operational costs.

The development of the ZEPHYR microlauncher is particularly timely, given the growing demand for satellite services, including Earth observation, telecommunications, and scientific research. By leveraging innovative materials and technologies, LATITUDE aims to create a microlauncher that not only meets the stringent requirements of modern satellite missions but also does so in a sustainable and economically viable manner.

Conclusion

The EIC Accelerator represents a vital mechanism for fostering innovation and supporting the growth of startups like LATITUDE within the European tech landscape. Through its blended finance approach, the program not only provides the necessary funding but also enhances the ecosystem by enabling companies to attract private investment and scale their operations effectively. The successful development of the ZEPHYR microlauncher underscores the potential of deep-tech initiatives to transform industries and address pressing challenges in the global market.

2 The Funding Rounds

LATITUDE (France): Financing and Funding Overview Since EIC Accelerator Win

Latitude, a French space launcher company (latitude.eu), was selected for European Innovation Council (EIC) Accelerator funding following the March 13, 2024 cut-off. Since receiving this support, Latitude has experienced substantial funding activity and investor engagement as it accelerates its path toward commercial space operations.

EIC Accelerator Funding Details

• Latitude was among 68 startups chosen in the March 2024 EIC Accelerator round from a highly competitive pool of nearly 1,000 applicants.
• The round awarded approximately €411 million across all winners, with up to €165 million in grants and around €245 million in equity investments.
• Almost all selected companies received blended finance: both grant and equity via the EIC Fund. In most cases, grants are disbursed within three months of selection; equity investment decisions follow company urgency.

Recent Funding Rounds

Series B — Closed January 2024

• Amount Raised: $30 million (~€27–28 million)
• Timing: Announced January 28, 2024
• Investors:
• Crédit Mutuel Innovation
• Expansion Ventures
• DeepTech 2030 (a France 2030 fund managed by Bpifrance)
• UI Investissement
• Blast.club (new investor entering Latitude’s capital)
• Kima Ventures
• Vincent Luciani (CEO of Artefact and private investor)

This round marked significant new momentum for Latitude as it prepares for its maiden Zephyr launch planned for late 2025.

Series A — Closed June 2022

• Amount Raised: Over €10 million
• Valuation Post-Round: ~€25 million post-money valuation after issuing about 1,600 new shares against an existing base of ~2,000.
• Investors:
• UI Investissement
• BPI France
• Crédit Mutuel Innovation
• Expansion Ventures
• COMAT Space
• Nicomatic
• GROUPE ADF

All debt convertibles were called from previous investors during this round.

Funding Strategy & Capital Needs

Latitude’s roadmap to operational status projected needs between €70–80 million through to late 2025—and potentially up to €150–200 million by full industrialization around or after that date. With the completion of its Series B at $30M (~€28M), Latitude is expected to seek further capital as it approaches commercial launches.

EIC Accelerator Investment Structure

As part of its EIC-backed blended finance package:

• The grant component typically reaches up to €2.5M per project.
• The equity component can be considerably higher—often matched several-fold by additional private capital attracted through co-investment via the EIC Fund structure.

While specific figures allocated uniquely to Latitude from the EIC have not been publicly disclosed yet, industry averages suggest each winner receives around €5.45M on average per recent rounds combining both components.

Company Valuation Evolution

After closing its Series A at a valuation near €25M in mid‑2022, industry analysis estimated that with successful technical milestones and increasing staff headcount (>70 employees aiming toward >140), subsequent rounds would target valuations above €100M—especially with a sought-after Series B raise targeting between EUR 30–40 million. While precise updated valuations post-Series B are undisclosed publicly as of May 2025, strong fundraising momentum implies continued upward movement consistent with sector trends.

Exit Events

As of May 2025:

No IPOs or acquisition events have been announced involving Latitude.

The company remains focused on expansion toward first Zephyr launches before considering public markets or strategic buyout opportunities.

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Summary Table: Key Rounds & Investors

Round	Timing	Amount	Lead / Notable Investors	Post-Money Valuation
Seed/Pre-A	Prior to mid‑2022	Confidential	Early seed backers including UI Investissement	N/A
Series A	June 2022	>€10M	UI Investissement; BPI France; Crédit Mutuel Innovation; Expansion Ventures; engineering firms COMAT Space/Nicomatic/GROUPE ADF	~€25M
Series B	Jan 28 2024	$30M (€27–28m)	Crédit Mutuel Innovation; Expansion Ventures; DeepTech2030/Bpifrance; UI Investissement; Blast.club (new); Kima Ventures	Not disclosed (>€100m est.)
EIC Accelerator Blended Finance	Mid‑to-late ’24+   (upcoming deployment)        ~Avg. €5.45m/company [grant + equity]

Exact split for LATITUDE not yet public but based on overall program patterns.

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Exit Status

No IPO or acquisition events reported as of latest updates. Company remains independent under current investor group leadership.

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Sources

EIC Accelerator – Latest Funding Round Results July 15 / March Cut-Off EIC Accelerator – NCP Brussels Summary SatNews – ‘Latitude closes $30 Million Series B’ MoonToMars.space – ‘Latitude In-depth Look’ Rasph.com – Latest EIC Results February 17 Update

3 The Press Releases

LATITUDE Secures EIC Accelerator Funding to Advance Micro-Launcher Technology The French space-tech company LATITUDE was selected for EIC Accelerator funding in March 2024, positioning itself as a future leader in end-to-end space access solutions. The company aims to develop and operate a dedicated micro-launcher system, targeting the growing demand for cost-effective satellite deployment services.

Funding and Strategic Focus
LATITUDE secured blended finance (grant + equity) through the highly competitive EIC Accelerator, which allocates €411 million total across 68 companies. While specific funding figures for LATITUDE remain undisclosed, blended finance recipients typically receive multimillion-euro grants alongside equity investments via the EIC Fund. The funding will accelerate their micro-launcher development, emphasizing innovations in lightweight materials and propulsion systems tailored for small payloads.

Technological Ambitions
As described in the EIC’s announcement, LATITUDE’s project focuses on becoming a “world-leading” provider of dedicated launch services for small satellites. Their vertically integrated approach includes proprietary rocket manufacturing and mission management tools designed to reduce costs and increase launch frequency.

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Sources

• EIC Accelerator – 68 deep-tech start-ups in the latest funding round
• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution
• NCP Brussels: EIC Accelerator Winners Announcement

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Note: No specific press releases or blog posts from latitude.eu were identified in available sources. Publicly disclosed details derive from official European Commission announcements.

4 The Technology Advancements

Latitude's Post-EIC Accelerator Funding Advancements in 2024 French launch startup Latitude has accelerated its development of the Zephyr small satellite launcher following its inclusion in the March 2024 EIC Accelerator cohort. While specific details about their EIC-funded projects remain undisclosed, recent milestones highlight progress across technical capabilities, testing programs, and customer engagements.

Core Capabilities

Latitude’s Zephyr rocket is designed as a two-stage vehicle targeting payloads up to 100 kg to low Earth orbit (LEO) initially, with a planned upgrade to 200 kg by 2028. The rocket uses Navier engines featuring 3D-printed components, including turbopumps developed in-house.

Key Advancements Since March 2024

• Testing Milestones: In April 2024 and early 2025, Latitude completed multiple hot-fire tests of flight-ready Navier combustion chambers at its Titan facility near Reims. These tests validated engine performance ahead of Zephyr’s inaugural flight.
• Funding Boost: Secured €15M from France 2030 in June 2024 for turbopump industrialization and avionics cost-reduction initiatives, complementing earlier $30M Series B funding.
• Production Scaling: A new Reims factory (25,000 m²) under construction aims for 50 launches/year by 2028, expanding from current capacity of ≤10/year.

Market Demonstrations & Partnerships

• Customer Contracts: CNES and EO firm Prométhée Earth Intelligence signed agreements for launches starting in late 2025/early 2026.
• Regulatory Progress: Actively negotiating launch site approvals in French Guiana while evaluating backup options (UK/Norway/Australia).

Intellectual Property & Publications

No patents or peer-reviewed studies were explicitly mentioned post-EIC selection. However:

In-House Tech Focus: Turbopump development emphasizes proprietary manufacturing methods using advanced machinery and additive manufacturing.

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Sources

• Latitude Secures France 2030 Funding to Build Reims Factory
• Latitude wins €15M in France 2030 Call for Projects
• French small launch startup Latitude closes $30M Series B

— EIC Accelerator details inferred from general program mechanics; no direct reporting on Latitude’s specific EIC project outcomes.

5 The Partnerships and Customers

Latitude's Strategic Partnerships and Customer Engagements Post-2024 EIC Accelerator Funding While specific details about Latitude’s EIC Accelerator win in March 2024 are not publicly disclosed in available records, the company has solidified key partnerships and customer agreements to advance its Zephyr small-launch program.

Key Partners and Customers

• CNES (French Space Agency): Signed a launch contract in March 2024 to become one of Zephyr’s first customers, with flights scheduled for 2026.
• Prométhée Earth Intelligence: An Earth Observation startup that secured an early ride on Zephyr for its satellite missions.
• Government Backing: Latitude secured €15M ($16.1M) under France 2030 in June 2024, reflecting strong governmental support.

Strategic Relationships and Market Positioning

Latitude’s collaboration with CNES underscores its credibility as a national launch provider, aligning with France’s goal of sovereign access to space. The partnership with Prométhée highlights demand from EO startups seeking affordable, dedicated launches. Government funding enables infrastructure development critical for scaling operations to 50 annual launches by 2028.

Technology Advancements Through Partnerships

The France 2030 grant directly supports:

• Turbopump Development: In-house production using advanced 3D printing and machinery to reduce reliance on external suppliers.
• Avionics Innovation: Adoption of commercial-off-the-shelf components to lower costs while maintaining reliability. These advancements ensure Zephyr remains cost-efficient compared to competitors like Arianespace or SpaceX.

By leveraging institutional support and customer contracts, Latitude is positioned as Europe’s agile alternative for smallsat launches, addressing market gaps left by delayed programs such as Ariane 6.

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Sources

• Latitude wins €15M in France 2030 Call for Projects - Payload Space
• French small launch startup Latitude closes $30M Series B - TechCrunch

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6 The Hiring and Company Growth

Latitude's Team Growth and Hiring Strategy French launch startup Latitude has experienced rapid expansion since its 2019 founding, accelerating its workforce growth alongside technological milestones. As of 2025, the company employs over 100 staff, a notable increase from ~70 employees in late 2022. This growth aligns with securing a $30M Series B in January 2024 and a subsequent €15M France 2030 grant in June 2024.

The company actively recruits hardware/software engineers, propulsion specialists, and structural designers, offering salaries ranging between €36k–€55k annually for engineering roles. Recent expansions include doubling its Reims factory to 3,000m² and opening a dedicated test center in Vatry. Key leadership hires such as former ArianeGroup executives—including CTO Olivier Lebrethon and Head of Sales Adeline Pitrois—have strengthened technical and commercial capabilities.

Latitude’s hiring surge supports its goal to conduct 50 annual launches by 2028, requiring scaled production of turbopumps and avionics components. The team’s growth directly enables vertical integration strategies, including in-house turbopump manufacturing using advanced 3D-printing technology. While no recent management changes are reported post-2022, the leadership team emphasizes regulatory agility to secure French Guiana launch approvals or pivot to alternative sites like Norway or Australia if necessary.

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Sources

• Latitude: In-depth look at the French launch company
• Latitude wins €15M in France 2030 Call for Projects - Payload Space
• Everything you need to know about Latitude - European Spaceflight
• France's Top Startups to Watch in 2025 - Nucamp

7 The Media Features and Publications

Media Features and Publications

LATITUDE, a French company and recipient of the EIC Accelerator funding in March 2024, specializes in developing innovative space access solutions. However, specific media features or publications directly mentioning LATITUDE, apart from the EIC Accelerator announcements, are not readily available in the current search results.

Content from Publications

The primary information about LATITUDE is its selection as one of the 68 companies funded by the EIC Accelerator in the March 2024 round. This funding supports its ambitions to become a world-leading end-to-end space access provider, particularly through the development and operation of a dedicated micro-launcher.

Podcasts and Interviews

There is no specific information available on podcasts or interviews performed by the LATITUDE team. However, it's worth noting that there is a podcast named Latitude by Magellan Executive Partners, but it is unrelated to the French space company LATITUDE.

Conference and Fair Visits

Details about LATITUDE's participation in conferences, fairs, or presentations are not available in the current search results.

Event Involvement

LATITUDE's involvement in events, beyond its participation in the EIC Accelerator process, is not specified in the available information.

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Sources: - EIC Accelerator – 68 deep-tech start-ups in the latest funding round

• EIC Accelerator: Statistics and Results from the March 2024 call
• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• Latitude Podcast | Magellan Executive Partners
• Latitude – Navigating Business Culture