1 The EIC Accelerator Project
Overview of the EIC Accelerator Program
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups with high potential for innovation and growth. This initiative aims to foster breakthroughs in technology and innovation across Europe, particularly focusing on DeepTech sectors such as artificial intelligence, biotechnology, and advanced materials. The program provides a unique combination of funding, mentorship, and networking opportunities to help innovative companies transition from the early stages of development to market readiness.
Funding Structure
The EIC Accelerator offers a blended finance approach, combining grants and equity investments.
- Grant Funding: Eligible companies can receive a grant of up to €2.5 million. This non-repayable funding is primarily intended to cover costs related to the development and demonstration of innovative projects, including R&D expenditures, prototyping, and testing. The grant acts as a financial cushion that allows companies to take calculated risks in exploring disruptive technologies.
- Equity Investment: The program also facilitates equity financing of up to €15 million until 2024 and subsequently up to €10 million from 2025 onwards. This equity investment is provided through the EIC Fund and is aimed at supporting companies in scaling their operations and entering new markets. The equity component not only provides necessary capital but also signals to other investors the potential of the business, thereby leveraging further private sector investment.
Purpose and Role in the Ecosystem
The EIC Accelerator plays a pivotal role in the European startup ecosystem by bridging the funding gap that often exists for innovative SMEs. Many promising companies struggle to secure adequate financing from traditional venture capital sources due to the high-risk nature of their projects. The EIC Accelerator addresses this challenge by providing significant funding that enables companies to develop and scale their technologies without the immediate pressure of profitability.
Moreover, the EIC Accelerator facilitates mentoring and advisory services, connecting startups with experienced industry experts, potential partners, and investors. This comprehensive support system not only enhances the likelihood of successful project outcomes but also catalyzes the overall growth of the European DeepTech and startup landscape.
Case Study: LightSolver Ltd and the LightSolver Project
Company Overview: LightSolver Ltd, an Israeli startup, has emerged as a key player in the realm of computational technology. The company specializes in developing innovative solutions for complex optimization problems, which are prevalent in various sectors including logistics, finance, and telecommunications.
Project Description: The LightSolver project aims to create an all-optical computer specifically designed for solving hard optimization problems. This project received funding through the EIC Accelerator, having successfully submitted its Step 2 proposal on March 13, 2024, and subsequently winning in the Step 3 interview.
Technology Basics: The core innovation of LightSolver lies in its unique approach to computation using light rather than traditional electronic circuits. Optical computing harnesses the properties of light, such as its speed and parallelism, to perform computations at a significantly faster rate than conventional electronic computers. This technology is particularly suited for optimization problems, which often require immense computational power to evaluate numerous possible solutions.
Background: Optimization problems are characterized by the need to find the best solution from a vast set of possible solutions, often within a limited timeframe. Traditional electronic computers face limitations in processing speed and power consumption, especially as the complexity of these problems increases. LightSolver's all-optical computing framework aims to overcome these limitations by leveraging the inherent advantages of light, such as low energy consumption and the ability to perform multiple calculations simultaneously.
In summary, the EIC Accelerator program serves as a crucial catalyst for innovation and growth in the European startup ecosystem, exemplified by companies like LightSolver Ltd. By providing substantial funding and support, the program empowers transformative technologies and fosters the development of solutions that address pressing challenges in various industries.
2 The Funding Rounds
LightSolver Ltd (Israel) – Financing and Funding Overview Since EIC Accelerator Award (March 13, 2024)
Financing Raised
- Since March 2024, LightSolver has raised a total of €12.5 million through the prestigious European Innovation Council (EIC) Accelerator Program.
- This sum comprises an initial non-dilutive grant of €2.5 million and a future equity investment commitment of €10 million.
Funding Rounds: Timing and Amounts
| Date | Round | Amount | Details |
|---|---|---|---|
| Aug 6–8, 2024 | EIC Accelerator Grant | €2.5M (grant) | Non-dilutive grant as part of EIC funding |
| Expected post-August 2024 | EIC Equity Investment | Up to €10M (equity) | Future direct equity investment from the EIC Fund |
- The company was selected in a highly competitive process—one of only 68 companies chosen out of 969 applicants for this round.
- Prior to the EIC funding, LightSolver had reportedly raised capital through at least four earlier rounds totaling $13.64 million as per CB Insights; however, details suggest some overlap with the new funding figures cited for August 2024.
Investor Information
LightSolver’s investor base includes:
- European Innovation Council Fund: Lead in both latest grant and planned equity rounds since August 2024.
- Venture Capital & Incubator Investors: Previous or ongoing involvement from TAL Ventures, Entrée Capital, IBI Tech Fund, Angular Ventures; Intel Ignite participated in their incubator/accelerator round dating back to October 20, 2020.
- As per company disclosures and news articles published after their EIC award announcement in August 2024:
- Maverick
- Artofin
This diversified group reflects both strategic technology-focused investors and major European innovation funds.
Company Valuations
No explicit public information is available regarding post-money or pre-money valuations associated with either the recent (€12.5M) or previous financing events. Venture market reports suggest that valuations have improved across late-stage VC deals during Q4/2024 but do not break out figures specific to LightSolver.
Exit Events: IPOs, Buyouts, Acquisitions
As of May 6th, 2025:
- There are no reported IPO filings or completed buyout/acquisition events for LightSolver.
- The company remains private; its focus is on scaling commercialization efforts with ongoing support from its venture investors and the EIC.
Additional Funding Context & Use-of-Proceeds
The latest capital injection supports:
- Commercialization acceleration for their all-optical Laser Processing Unit™ platform
- Expansion into high-performance computing markets such as computer-aided engineering (CAE), biosciences computation, optimization problems
- Scaling team growth—more than two-thirds are PhDs in relevant technical fields
- Continued R&D partnership initiatives—recently announced collaborations include Ansys for advanced CAE modeling solutions
Sources
LightSolver Awarded €12.5M from the European Innovation Council to Advance its All Optical Supercomputer LightSolver Secures €12.5M ($13.6M USD) from European Innovation Council LightSolver awarded €12.5M from the European Innovation Council LightSolver Awarded $13.7M to Advance All Optical Supercomputer Entree Capital: News Release on LightSolver's Funding CB Insights – LightSolver Financials CB Insights – Company Overview & Financial Data GlobeNewswire: Partnership Announcement With Ansys
3 The Press Releases
LightSolver Ltd: Advances in All-Optical Computing
LightSolver Ltd, an Israeli startup, made significant headlines in the technology sector after being awarded €12.5 million from the European Innovation Council (EIC) Accelerator Program in 2024. This funding marked a crucial milestone for the company, which is dedicated to revolutionizing computing with its laser-based processing units.
Technology Advancements
LightSolver's innovative approach involves harnessing the natural properties of light to execute mathematical operations, offering a more energy-efficient alternative to traditional computing systems. The company's Laser Processing Unit (LPU) is designed to handle complex computations faster than GPUs and is significantly less environmentally demanding than quantum computers, as it operates at room temperature without requiring vacuum or ultracold environments.
Funding and Partnerships
The EIC funding package for LightSolver includes an initial grant of €2.5 million from the EIC Fund, complemented by a future equity investment of €10 million. This support positions LightSolver for accelerated growth in the high-performance computing (HPC) sector. Prior to the EIC funding, LightSolver secured investments from notable venture capital firms such as TAL Ventures, Entrée Capital, IBI Tech Fund, and Angular Ventures.
Team Updates
In recent developments, LightSolver strengthened its leadership team with the appointments of Amir Oz as Chief Operations Officer and Miki Sapir as Vice President of Product Management. These new roles are pivotal in driving product innovation and market adoption for LightSolver's laser-based computing system, particularly focusing on enterprise cloud offerings and hardware platform development.
Press Releases and Social Media
While LightSolver's official website provides basic information about the company and its technology, specific press releases or detailed updates on their social media accounts are not readily available. However, their achievement and EIC funding have been widely covered by tech news outlets and financial publications.
Patents and Intellectual Property
LightSolver's intellectual property includes proprietary software, algorithms, and inventions related to its laser-based computing paradigm. The company emphasizes the importance of protecting these intellectual assets, which are crucial for its innovative computing solutions.
Sources: - LightSolver Awarded €12.5M from the European Innovation Council
- LightSolver awarded €12.5M from the European Innovation Council
- LightSolver - Products, Competitors, Financials, Employees
- LightSolver
- LightSolver Secures €12.5M ($13.6M USD) from European Innovation Council
- Two Tal Ventures portfolio companies win big in IEC deep-tech competition
4 The Technology Advancements
LightSolver Ltd.: Post-EIC Accelerator Funding AdvancementsSince receiving €12.5M in August 2024 through the European Innovation Council (EIC) Accelerator Program, LightSolver has focused on scaling its laser-based computing technology and expanding commercial partnerships. While the funding announcement occurred later than the March 13, 2024, cutoff referenced in the query, LightSolver’s post-funding trajectory reveals critical developments:
Technology Advancements
- LPU100 Commercialization: The company made its LPU100 system generally available via cloud access for enterprise clients in March 2024, with continued enhancements to its algorithmic layer for solving optimization problems involving up to one million variables.
- Performance Benchmarks: Demonstrated superiority over classical and quantum systems by solving NP-hard problems like Max-2-SAT and 3-Regular 3-XORSAT challenges up to 1,000x faster than deep learning solvers and in polynomial time versus exponential time for competitors.
- Energy Efficiency: Emphasized low power consumption and room-temperature operation, positioning its Laser Processing Unit (LPU) as a sustainable alternative to energy-intensive quantum computers.
Market Demonstrations & Partnerships
- Ansys Collaboration: Partnered with Ansys to accelerate finite element analysis (FEA) and computational fluid dynamics (CFD) simulations, reducing floating-point operations in implicit mechanical analysis cases.
- Citi Accelerator Engagement: Conducted pilot testing with Citi’s Innovation Lab for financial optimization use cases, including portfolio management and risk mitigation.
- Industry Applications: Deployed solutions across logistics (vehicle routing), manufacturing (assembly line balancing), aerospace (material design), and finance (trading optimization).
IP & Research Output
No specific patents or whitepapers are explicitly cited post-August 2024. However:- The LPU’s core innovation—using coupled lasers to map mathematical problems into optical obstacles—remains proprietary.
- Public technical disclosures focus on performance benchmarks rather than new scientific publications during this period.
Sources
5 The Partnerships and Customers
LightSolver Ltd.'s Strategic Partnerships and Market Positioning Post-EIC FundingSince securing a €12.5M grant from the European Innovation Council (EIC" class="inline-link" target="_blank" rel="noopener noreferrer">LPU100 General Availability Accelerator in 2024, LightSolver Ltd. has accelerated its collaboration with key industry players to advance its laser-based computing technology. Here’s a breakdown of its partnerships and market trajectory:
Sources
- LightSolver Partners With Ansys
- Laser-Based Computing Revolutionising Engineering Simulations
- LightSolver And Ansys Partner To Advance CAE Modeling) → Note: The Nasdaq URL appears truncated but redirects to relevant coverage via sources above. For accuracy, prioritize verified links from GlobeNewswire or Highways Today.)
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6 The Hiring and Company Growth
LightSolver Ltd: Team Growth and Development
LightSolver Ltd, an Israeli company specializing in laser-based processing units, has been making significant strides since its founding in 2020. The company's innovative approach to computing solutions involves harnessing the unique properties of light to solve complex optimization problems more efficiently than traditional computing methods.
Current Headcount and Team Size
While the exact current headcount of LightSolver Ltd is not publicly disclosed, the company has a diverse team comprising business leaders, PhD physicists, and engineers. This team structure is crucial for developing and commercializing its laser-based processing units (LPUs), which are designed to target the computing industry with scalability, low power requirements, and room temperature operation.
Hiring Status
As of recent developments, LightSolver has been bolstering its leadership team. The company announced the appointment of Amir Oz as Chief Operations Officer and Miki Sapir as Vice President of Product Management. These new hires are instrumental in supporting product innovation and market adoption, particularly for the recently released LPU100 laser computing system.
Growth and Team Expansion
The appointment of key personnel like Amir Oz and Miki Sapir signifies significant growth and strategic expansion for LightSolver. These additions are vital for accelerating the commercialization of their technology, which aims to outperform quantum and supercomputers. This growth positions the company to capitalize on opportunities in sectors such as logistics, finance, aerospace, and manufacturing.
Key Positions and Future Impact
The recent hiring of senior executives like Amir Oz and Miki Sapir is key to enhancing LightSolver's enterprise cloud offerings and productizing its on-premises hardware platform. Oz's role as COO involves building out LightSolver's enterprise cloud offering, while Sapir will shape the company's strategic roadmap and tailor product offerings to customer needs. These new team members are essential for scaling LightSolver's operations and driving its high-performance computing platform forward.
Management and Founding Team Changes
LightSolver was founded by Dr. Ruti Ben Shlomi and Dr. Chene Tradonsky, both PhD physicists from the Weizmann Institute. There are no reports of major changes in the founding team. However, the recent additions to the leadership team, such as Amir Oz and Miki Sapir, indicate a strategic expansion of the company's management structure to support its growth plans.
EIC Accelerator Funding
LightSolver's success in securing EIC Accelerator funding in March 2024 further underscores its potential for growth and innovation. This funding will likely support the company's ongoing efforts to develop and commercialize its groundbreaking laser-based computing solutions.
Sources:
- LightSolver
- LIGHTSOLVER LTD Company Profile
- LIGHTSOLVER LTD - Israel Company Information
- LightSolver - Products, Competitors, Financials, Employees
- LightSolver - Startup Nation Finder
7 The Media Features and Publications
LightSolver Ltd: Media Presence and Industry Engagement Post-EIC Accelerator FundingLightSolver Ltd, an Israeli innovator in laser-based computing, has garnered significant media attention and industry recognition since securing EIC Accelerator funding. Below is a detailed overview of their public engagements and coverage:
Media Features & Publications
- Gartner Recognition: LightSolver was highlighted as a key player in photonic computing by Gartner’s Technology Trends 2025 report, which predicts hybrid compute systems integrating emerging technologies like LightSolver’s LPU[^lightsolver_news].
- The Quantum Insider: Featured LightSolver’s LPU100 laser computing system, emphasizing its advantages over quantum computers, including portability and room-temperature operation[^quantum_insider].
- GlobeNewswire & HPC Wire: Covered CEO Ruti Ben-Shlomi’s SC24 presentation on laser computing advancements for high-performance computing (HPC), including optimizations for Ansys LS-DYNA simulations[^globenewswire][^hpcwire].
Podcasts & Interviews
While specific podcasts are not listed in available sources, LightSolver executives frequently engage in thought leadership through conferences and panels. For example, Dr. Ben-Shlomi presented at SC24 on solving complex problems “at the speed of light”[^globenewswire].Conference Participation
- SC24 (November 17–22, 2024): LightSolver exhibited its LPU technology at booth #448. Dr. Ben-Shlomi delivered a keynote titled “Laser Computing for the Post-Silicon Era”, showcasing breakthroughs in accelerating CAE simulations[^hpcwire][^globenewswire].
- The company actively targets logistics, aerospace, and manufacturing sectors through such events to drive adoption of its HPC platform[^hpcwire].
Event Involvement
LightSolver strengthened its leadership team in early 2024 with hires like COO Amir Oz and VP Miki Sapir to accelerate productization efforts[implicit from multiple sources but not directly cited here due to absence of explicit event details]. Their participation at SC24 underscores ongoing efforts to collaborate with industrial partners on computational challenges[^hpcwire][^globenewswire].Sources
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