1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator, part of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups, particularly those engaged in deep tech and high-impact sectors. The program provides financial support through a combination of grants and equity investments to help companies scale their innovative projects. It plays a vital role in fostering innovation across Europe, especially in sectors that require significant investment and carry high risks.

Funding Structure

The EIC Accelerator offers a unique funding structure that combines grants and equity investments:

Purpose of the EIC Accelerator

The primary purpose of the EIC Accelerator is to bolster Europe's deep tech and startup ecosystem by empowering innovators to overcome the challenges of scaling their solutions. It addresses the funding gap that many startups face during critical growth phases, where traditional financing options may be limited due to the high-risk nature of innovative projects. By providing a combination of grants and equity, the EIC Accelerator helps startups achieve technological market readiness, thereby enhancing Europe's competitiveness in global innovation.

Role in Scaling and Funding

The EIC Accelerator plays a crucial role in helping companies scale their operations and secure sufficient funding from the private sector. By providing initial funding, it enables startups to develop and validate their technologies, which can significantly enhance their attractiveness to private investors. The EIC Accelerator also offers access to a network of investors, mentors, and industry experts, further supporting startups in their growth journey. The credibility associated with EIC funding can serve as a powerful endorsement, making it easier for companies to attract additional private investment.

LUBIS EDA GmbH: EIC Accelerator Winner

Company Overview: LUBIS EDA GmbH, based in Germany, is a pioneering company specializing in electronic design automation (EDA) solutions for semiconductor development.

Project Acronym: OverSemi

Project Description: The "OverSemi" project aims to optimize a novel software tool designed to automate the design and verification processes involved in semiconductor development. This tool is crucial in addressing the complexities and challenges faced by semiconductor designers, particularly in ensuring that designs meet stringent performance and reliability standards.

Technology Basics and Background

The semiconductor industry is characterized by rapid advancements and increasing complexity in design processes. Traditional design and verification methods can be time-consuming and error-prone, leading to lengthy development cycles and increased costs. The OverSemi project seeks to revolutionize this landscape by providing a software solution that automates key processes, thereby improving efficiency and reducing time-to-market for semiconductor products.

The technology underpinning OverSemi utilizes advanced algorithms and machine learning techniques to streamline the design workflow. This includes automating tasks such as design rule checks, simulations, and verification processes, which are traditionally labor-intensive. By leveraging automation, LUBIS EDA GmbH aims to enhance the accuracy and reliability of semiconductor designs, ultimately contributing to advancements in various sectors, including telecommunications, automotive, and consumer electronics.

In summary, the EIC Accelerator program plays a critical role in empowering innovative companies like LUBIS EDA GmbH to scale their groundbreaking projects. The funding structure, combining grants and equity, provides essential support that addresses the unique challenges faced by startups in the deep tech sector, fostering a vibrant ecosystem of innovation across Europe.

2 The Funding Rounds

# LUBIS EDA: Funding Journey and Financial Overview

LUBIS EDA GmbH, a Kaiserslautern, Germany-based startup specializing in formal verification for the semiconductor industry, has established itself as a notable player in the Electronic Design Automation (EDA) space since its founding in 2021. The company has achieved significant funding milestones, particularly through the prestigious European Innovation Council (EIC) Accelerator program.

EIC Accelerator Funding

LUBIS EDA made history as the first CISPA-supported startup to secure funding from the European Innovation Council (EIC) Accelerator program. The company was selected as one of the winners in the second 2023 call for proposals, which closed on March 22, 2023. This highly competitive selection process saw 551 applications, with only 139 advancing to the third stage (interview), and just 51 companies ultimately receiving funding.

The EIC Accelerator grant awarded to LUBIS EDA amounts to €2.5 million (approximately $2.7 million), which will be disbursed starting in 2024. This funding is part of the EIC Accelerator's total budget of €1.13 billion for 2023, which provides grants of up to €2.5 million and equity investments between €0.5 and €15 million to highly innovative startups and SMEs.

Other Funding Information

Beyond the EIC Accelerator grant, LUBIS EDA's funding history includes:

• Incubator/Accelerator Support: The company has received support through incubator/accelerator programs, with its latest funding round classified as "Incubator/Accelerator - II" according to CB Insights data.
• Investors: LUBIS EDA's investors include "GROW in RLP," though detailed investment amounts from this source are not specified in the available data.
• Company Growth: The company has shown robust growth, with approximately 26 employees as of recent data, representing a significant 53% employee growth rate.

Financial Performance and Valuation

While exact revenue figures and company valuation are not explicitly stated in the available data, several indicators provide insights into LUBIS EDA's financial standing:

• The company has experienced positive momentum in its market potential, with CB Insights' Mosaic Score showing an increase of +20 points in the 30 days prior to April 5, 2025.
• LUBIS EDA is part of the broader success story of CISPA-supported startups, which collectively received approximately €9 million in public grants and approximately €8 million in private funding in 2023.

Business Model and Market Potential

LUBIS EDA's core business focuses on formal verification services within the semiconductor industry. The company has developed a unique methodology using self-developed software that automates the generation of SystemVerilog Assertions (SVA) properties. Their solution addresses a critical need in the semiconductor industry:

• If defects remain undetected in chip development, they can cause billions in losses for manufacturers when carried over to physical production.
• LUBIS EDA's software ensures more reliable and faster chip development with a mathematically proven 0% chance of errors.
• Their business model is transitioning to a licensing-based approach, which will make their software accessible to a broader audience while optimizing their market introduction strategy.

No Reported Exit Events

As of the available data, there are no reported exit events such as IPOs, buyouts, or acquisitions involving LUBIS EDA. The company appears to be in a growth and development phase, focusing on expanding its innovative solutions in the formal verification space.

Sources:

• First EIC grant for CISPA incubator startup
• These are the winners of EIC Accelerator's second 2023 call - EurA AG
• Startup Funding: June 2023 - Semiconductor Engineering
• CISPA sets new standards: A record number of startups as well as ...
• Lubis Eda - CB Insights
• LUBIS EDA company information, funding & investors | Dealroom.co

3 The Press Releases

LUBIS EDA GmbH: Post-EIC Accelerator Funding Developments LUBIS EDA GmbH, a Kaiserslautern-based semiconductor verification startup, secured €2.5 million in blended funding (grant and equity) from the European Innovation Council (EIC) Accelerator in 2023. The company specializes in formal verification tools that automate error detection in chip design, ensuring mathematically proven reliability to eliminate defects during semiconductor development.

Technology Advancements
The company’s flagship product, LUBIS-on-cloud, provides a cloud-based formal verification platform that eliminates software installation requirements while incorporating AI-driven bug detection. This tool has been deployed across over 50 projects by 2023, identifying more than 250 critical bugs in designs such as RISC-V cores, AMBA protocols, and compute accelerators. Their methodology automates SystemVerilog Assertions (SVA) generation and offers formal verification training programs to streamline adoption for clients.

Operational Growth
Since its founding in 2020/2021, LUBIS EDA has expanded its team to 35 employees and established itself as a key player in formal verification services for high-risk semiconductor components. The EIC funding will support further product optimization and scalability through a licensing model aimed at broader market accessibility.

No press releases from lubis-eda.com or social media accounts were identified via the provided sources.

---

Sources

• First EIC grant for CISPA incubator startup
• Automating Formal Verification - lubis eda
• Semiconductor Engineering: Lubis EDA Grant
• Alien Technology Transfer: LUBIS EDA

4 The Technology Advancements

Current Capabilities of LUBIS EDA GmbH

LUBIS EDA GmbH, based in Germany, specializes in automating formal verification to enhance the reliability of high-risk silicon designs. Founded in 2020, the company has developed a cloud-based platform called LUBIS-on-cloud, which utilizes AI to simplify the verification process and quickly detect bugs. This platform enables users to perform formal verification without needing to install software, making it highly accessible and user-friendly.

LUBIS EDA's approach focuses on identifying simulation-resistant and corner-case bugs in silicon designs and IP blocks. Their unique methodology includes automated setup and SVA (SystemVerilog Assertions) assertion generation, which streamlines complex bug detection. The company provides formal verification as a service and offers training to help clients improve their skills in this area.

Advancements Since EIC Accelerator Funding

There is no specific information available regarding the advancements made by LUBIS EDA GmbH since they received the EIC Accelerator funding in March 2023. However, the company has continued to emphasize the importance of formal verification in achieving first-silicon success and reducing the need for costly re-spins.

In 2023, LUBIS EDA completed over 50 projects, uncovering more than 250 bugs, which demonstrates the effectiveness of their verification process. Their projects typically take under 30 days per block, with some blocks requiring longer verification times depending on their complexity.

Technology Improvements and Demonstrations

LUBIS EDA continues to refine its technology by providing expert training and support through consulting services and formal verification bootcamps. Their cloud-based platform allows for scalable and efficient verification processes, which can be particularly beneficial for companies aiming to stay on budget and adhere to tape-out schedules.

While there is no explicit mention of new features or demonstrations since the EIC funding, LUBIS EDA's focus on automating formal verification and improving productivity has remained consistent. Their technology is designed to integrate seamlessly into existing design flows, which could facilitate broader adoption and demonstration in the market.

Patents, Scientific Studies, and Clinical Trials

There is no specific information available regarding new patents filed, scientific studies published, or clinical trials conducted by LUBIS EDA since receiving the EIC Accelerator funding. However, the company's work in formal verification contributes to the broader field of digital circuit design and reliability.

Sources

• LUBIS EDA
• Automating Formal Verification - LUBIS EDA
• LUBIS EDA Wiki
• LUBIS EDA - Alien Technology Transfer

5 The Partnerships and Customers

LUBIS EDA GmbH Overview

LUBIS EDA GmbH, based in Kaiserslautern, Germany, is a company specializing in formal verification services for high-risk silicon designs. It focuses on automating formal verification processes to enhance the reliability of microchips used in various applications, including space, automotive, aviation, robotics, and IoT.

Partnerships and Customers

Currently, LUBIS EDA does not have publicly disclosed partnerships or customer names. However, it provides formal verification consulting and training services, suggesting a broad client base across the semiconductor industry. The company's services help clients identify simulation-resistant and corner-case bugs in silicon designs, which is crucial for achieving first-silicon success.

New Partnerships and Customers

There are no specific mentions of new partnerships or customers for LUBIS EDA GmbH in recent developments. However, the company's scalable AI-based EDA platform, LUBIS-on-cloud, enables it to serve a wider range of customers globally by offering DIY formal verification solutions.

Nature and Purpose of Relationships

LUBIS EDA's relationships are primarily based on providing high-quality formal verification services and tools. These services help clients improve their design reliability and productivity, reducing the need for costly respins in the semiconductor manufacturing process.

Market Positioning

LUBIS EDA's focus on formal verification positions it as a critical player in ensuring the reliability of high-risk silicon designs. By leveraging AI-driven tools and cloud-based services, the company can serve both established and emerging tech companies, enhancing its market presence.

Technology Advancements and Scaling

The European Innovation Council Accelerator funding received in 2023 will likely support LUBIS EDA's efforts to advance its formal verification technologies, scale its operations, and expand its customer base. This funding is expected to enhance the company's capabilities in developing more sophisticated AI-based verification tools and training programs, which are crucial for meeting the increasing demand for reliable semiconductor designs.

Sources

• LUBIS EDA: About Us
• LUBIS EDA
• LUBIS 2023 in numbers
• Startup Funding: June 2023
• ATHENE - Innovative Cybersecurity Solutions
• Automating Formal Verification
• LUBIS EDA Wiki

6 The Hiring and Company Growth

LUBIS EDA GmbH, a Kaiserslautern-based formal verification automation specialist, has demonstrated strategic growth since receiving European Innovation Council (EIC) Accelerator funding in 2023. While specific headcount figures remain undisclosed in available data, the company’s trajectory highlights key operational developments:

Team Expansion & Talent Strategy
The company actively addresses industry-wide talent shortages through its Formal Bootcamp, a specialized training program designed to cultivate formal verification expertise. Co-founder and CEO Tobias Ludwig emphasizes workforce development as a core pillar, aligning with the semiconductor industry’s critical need for skilled verification engineers. Though exact hiring figures are unavailable, their participation in Germany’s PROTECT consortium (2024-2028) alongside academic and industry partners suggests ongoing recruitment to support complex RISC-V hardware/software co-verification projects.

Growth Drivers Post-Funding
The EIC Accelerator grant has likely accelerated development of their LUBIS-on-cloud platform, an AI-enhanced EDA toolset aimed at democratizing formal verification. Their methodology now detects an average of five simulation-resistant bugs per traditionally verified block across 50+ annual projects, indicating scalable processes despite no explicit growth metrics being published.

Management Stability & Vision
Leadership remains anchored by co-founders including CFO Max Birtel and CEO Tobias Ludwig, with no reported management changes since founding. The company maintains proximity to German academic institutions specializing in formal methods, ensuring continuous knowledge transfer between research and industrial applications.

Sources

• CEO Interview: Tobias Ludwig of LUBIS EDA - SemiWiki
• Ecosystem Formally Verifiable IT – Provable Cybersecurity (EVIT)
• Startup Funding: June 2023 - Semiconductor Engineering
• PROTECT - Proving Next Generation Secure Systems
• "the place to be" for startups & founders - bic-kl.de

7 The Media Features and Publications

Overview of LUBIS EDA GmbH

LUBIS EDA GmbH, a German company specializing in formal verification within the semiconductor industry, received the EIC Accelerator funding on March 22, 2023. Founded in 2021 and headquartered in Kaiserslautern, Germany, LUBIS EDA focuses on ensuring digital circuits are free from bugs, offering services, training, and software solutions for high-reliability semiconductor designs.

Media Features and Publications

While specific publications directly naming LUBIS EDA in major media outlets are not highlighted in the search results, the company's innovative approach to formal verification has been recognized in industry-focused platforms. For instance, an interview with CEO Tobias Ludwig was featured on SemiWiki, discussing the company's mission to simplify formal verification using AI techniques and automation.

Content from Publications

Publications and interviews emphasize LUBIS EDA's role in automating formal verification processes to find simulation-resistant bugs, making the verification process more accessible and efficient for semiconductor companies. The company's unique approach aims to reduce costs and time-to-market for chip developers.

Podcasts or Interviews

CEO Tobias Ludwig has been interviewed on platforms like SemiWiki and YouTube, discussing the company's vision and innovations in formal verification. These interviews highlight LUBIS EDA's commitment to bridging the talent gap in formal verification through training programs like the Formal Bootcamp.

Conference and Fair Visits

While specific conference visits by LUBIS EDA are not detailed in the search results, the company's involvement in the semiconductor industry suggests participation in relevant events like the Design Automation Conference (DAC), which focuses on advancements in EDA and related technologies.

Involvement in Events

LUBIS EDA's participation in industry events is part of their strategy to stay at the forefront of innovations in formal verification. The company's focus on automation and AI-driven solutions aligns with the broader trends in the semiconductor industry, making them a potential contributor to discussions at key conferences and forums.

Sources

• LUBIS EDA GmbH Company Profile
• LUBIS EDA: Build quality microchips from bug-free silicon designs
• EDA software and formal verification consulting - LUBIS EDA
• Lubis Eda
• LUBIS EDA company information, funding & investors
• CEO Interview: Tobias Ludwig of LUBIS EDA
• the chips - Design Automation Conference
• LUBIS EDA Maybe a Game Changer for the Semiconductor Industry