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MBRYONICS LIMITED

MBRYONICS Secures €17.5 Million from EIC Accelerator for Optical Communication Innovations

IrelandEIC Accelerator2023

Table of Contents

  1. The EIC Accelerator Project
  2. The Funding Rounds
  3. The Press Releases
  4. The Technology Advancements
  5. The Partnerships and Customers
  6. The Hiring and Company Growth
  7. The Media Features and Publications

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 groundbreaking innovations. Aimed primarily at deep-tech ventures, the program facilitates the transition from research and development to market entry and scaling operations. The EIC Accelerator provides financial assistance through a combination of grants and equity investments, enabling innovative companies to realize their full potential in the competitive European and global markets.

Funding Structure

The EIC Accelerator funding is structured as blended finance, combining grants and equity investments. The grant component can reach up to €2.5 million, aimed at covering early-stage development costs, including prototype development and testing, market validation, and scaling operations.

In addition, the program offers equity funding up to €15 million until 2024, which is intended to aid companies in scaling their operations and attracting additional private sector funding. As of 2025, this equity limit will decrease to €10 million. This dual funding approach allows startups to maintain control over their operations while securing sufficient capital to grow.

Purpose in the European DeepTech Ecosystem

The EIC Accelerator serves a critical role in the European DeepTech and startup ecosystem by addressing the funding gap that often exists during the commercialization phase of innovative technologies. Many promising startups struggle to attract private investment due to perceived risks and uncertainties. By providing substantial financial backing, the EIC Accelerator helps mitigate these risks, encouraging further investment from private sectors. It not only nurtures innovation but also positions Europe as a competitive player in the global technology landscape.

Supporting Scale-Up and Funding Acquisition

The EIC Accelerator plays an instrumental role in helping companies scale. Beyond financial support, the program offers access to a network of investors, partners, and industry experts. This ecosystem fosters collaboration and mentorship, allowing startups to refine their business models, enhance product-market fit, and develop robust go-to-market strategies. By strengthening their market presence, companies can attract additional investment and partnerships, crucial for sustained growth.

Case Study: MBRYONICS LIMITED and the StarCom OISL Project

Company Overview MBRYONICS LIMITED, based in Ireland, has emerged as a significant player in the space technology sector. The company specializes in advanced optical communication systems, focusing on inter-satellite links that facilitate high-speed data transfer in space.

Project Overview: StarCom OISL The EIC Accelerator project, titled StarCom OISL (StarCom Optical Inter-Satellite Link), seeks to revolutionize satellite communication through next-generation optical technology. This project focuses on developing a robust inter-satellite link system that leverages optical communication to provide unprecedented data transfer rates and reliability.

Technology Basics and Background The StarCom OISL project is built upon the principles of optical communication, which utilizes light to transmit data. Unlike traditional radio frequency systems, optical links can achieve significantly higher data rates and bandwidth, essential for modern satellite networks. The technology utilizes laser beams to establish links between satellites, minimizing latency and maximizing throughput.

This approach is particularly beneficial for applications requiring real-time data processing, such as Earth observation, climate monitoring, and telecommunications. By creating a network of interconnected satellites that communicate via optical links, MBRYONICS aims to enhance global connectivity and offer a scalable solution for future space missions.

The development of the StarCom OISL system involves several key components, including advanced laser technology, precise alignment systems, and sophisticated signal processing algorithms. The project aims to address common challenges faced in satellite communication, such as atmospheric interference and alignment precision, ensuring reliable and efficient data transmission.

In summary, the EIC Accelerator program represents a vital initiative to propel innovative startups like MBRYONICS LIMITED and their ambitious projects like StarCom OISL. Through its blended finance approach and supportive ecosystem, the EIC Accelerator not only fosters technological advancements but also strengthens Europe’s position in the global deep-tech arena.

2 The Funding Rounds

Financing Raised

MBRYONICS LIMITED, based in Galway, Ireland, secured a major financing round from the European Innovation Council (EIC) Accelerator. In March 2024, the company was approved for a recommended investment of €17.5 million through this program. The EIC Accelerator provides blended finance—this typically includes up to €2.5 million in grant funding and equity investments ranging from €0.5 to €15 million as part of its standard offer.

Prior to the EIC Accelerator funding, MBRYONICS also received a separate investment: in April 2023, it was granted €4.1 million via Ireland's Disruptive Technology and Innovation Fund (DTIF), aimed at advancing manufacturing capabilities for freeform optics.

Funding Rounds: Timing and Amounts

  • April 2023: Received €4.1 million from DTIF.
  • March 2024: Approved for up to €17.5 million from the EIC Accelerator.

The EIC Accelerator round followed MBRYONICS' successful proposal submission at the November 8, 2023 cut-off date; approvals and public announcements came approximately four months later.

Investor Information

The primary investor driving recent rounds is: - European Innovation Council (EIC) Fund, which operates under Horizon Europe and is recognized as one of Europe's largest deep-tech investors.

Supporting agencies involved include: - Enterprise Ireland: Played an instrumental role in supporting MBRYONICS’ application through its National Support Network for Horizon Europe.

  • Irish Government/Enterprise Ireland: Provided DTIF grant funding.

    • No additional venture capital firms or private equity investors are publicly reported as having participated directly in these rounds.

    Funding Round Details

    March 2024 – EIC Accelerator

    • Total amount: Up to €17.5 million
    • Structure: Blended finance (grant + equity). For all recipients under this scheme:
    • Grant component up to €2.5M
    • Equity component between €0.5M–€15M per company
    • Purpose: Establish manufacturing/assembly/testing facilities for optics/photonics; advance freeform optics & photonic integrated circuits production; scale space-based optical communication solutions.
    • Notable milestones facilitated by this funding include launching the StarCom optical terminal supporting quantum internet initiatives with US government clients by 2025.

    April 2023 – Disruptive Technology & Innovation Fund (DTIF)

    • Amount: €4.1 Million
    • Focused on accelerating manufacturing innovation around freeform optics specifically for space industry applications within western Ireland.
    • Delivered via Enterprise Ireland with multi-institutional collaboration support (including University of Galway partners).

    Company Valuations

    No public disclosures have been made regarding specific pre-money or post-money valuations resulting from either the DTIF or EIC fundings.

    However, participation in competitive EU programs such as the EIC Accelerator typically implies rigorous due diligence processes leading to significant valuation uplifts relative to pre-funding status—especially when accompanied by substantial equity components managed via pan-European deep-tech funds like those administered by Horizon Europe/EIC Fund.

    Exit Events

    As of May 6th, 2025:

    • No IPOs
    • No buyouts/acquisitions involving MBRYONICS LIMITED have been reported since their receipt of EIC Accelerator funding or prior grants.

    The company's leadership remains unchanged with John Mackey serving as CEO throughout these events; there are no indications that exit discussions are currently underway based on public information available through press releases or official company channels post-funding.

    Sources

    3 The Press Releases

    Mbryonics Limited: A Pioneer in Space Tech

    Mbryonics Limited, a Galway-based space technology company from Ireland, has made significant strides since receiving funding from the European Innovation Council (EIC) Accelerator. The company submitted its proposal on November 8, 2023, and successfully secured funding in a later round.

    Funding and Technology Advancements

    Mbryonics was awarded €17.5 million in funding from the EIC, a testament to its innovative prowess in advanced optical communications technologies. This investment will support the development of cutting-edge wireless optical transport and Coherent Photonic-Optical (CPO) transceiver technologies. These technologies are crucial for enhancing communication infrastructures in space, air, and on land.

    The company is also at the forefront of transforming satellite communications, datacoms, and 5G wireless sectors. A notable achievement is the development of the StarCom optical terminal, which is set to launch in 2025. This terminal will support a client's development of a space-based quantum internet and has been chosen by the U.S. government to facilitate a space-based internet linking government satellites with various commercial networks.

    Partnerships and Expansions

    Mbryonics has received ongoing support from Enterprise Ireland and the Irish European Space Agency (ESA). This support has been instrumental in the company's plans to expand its advanced optical and photonic integrated circuit manufacturing capabilities in the West of Ireland. The €17.5 million investment will enable Mbryonics to establish a significant manufacturing, assembly, and testing facility for optics and photonics over the next five years.

    Team and Leadership

    John Mackey serves as the CEO of Mbryonics. He has expressed gratitude for the EIC funding and emphasized its role in fueling the company's growth and technological advancements. The leadership team's dedication has been recognized for driving innovation and securing European technological independence in space and related sectors.

    Press Releases and Updates

    While Mbryonics' website and social media accounts do not appear to have hosted specific press releases or updates on these developments, the news has been covered by various media outlets. Key updates include the EIC funding, the StarCom project, and the company's partnerships with significant organizations like Enterprise Ireland and the ESA.

    Conclusion

    Mbryonics Limited is poised to make significant contributions to the space tech sector, leveraging its innovative technologies and strategic partnerships. The EIC funding marks a pivotal moment in the company's journey, positioning it for further growth and technological advancements.

    Sources: - MBRYONICS AWARDED €17.5 MILLION FROM EUROPEAN INNOVATION COUNCIL horizoneurope.ie

    4 The Technology Advancements

    MBRYONICS LIMITED: Current Capabilities and Advancements

    MBRYONICS LIMITED, a space-tech company based in Ireland, specializes in developing innovative optical systems for telecommunications, Earth observation, and science missions. The company's expertise lies in space optical instruments, photonic intra-sat and high-frequency communications, and end-to-end free space optical communication systems.

    Current Capabilities

    • Optical Systems Development: MBRYONICS focuses on providing advanced sensing, imaging, positioning, data management, and data transport capabilities for data-driven applications.
    • Leadership and Expertise: The company is led by a strong team, including John Mackey, Dr. David Mackey, and Dr. Ruth Mackey, each bringing extensive experience in satellite optical communications.
    • Global Presence: With locations in Ireland, the Netherlands, and the USA, MBRYONICS has a significant international presence.

    Advancements Since EIC Accelerator Funding

    As of the latest information, MBRYONICS received a substantial investment of €17.5 million from the European Innovation Council (EIC) Accelerator in March 2024. This funding was not directly received in November 2023 but marks a significant milestone for the company.

    Technology Improvements

    • StarCom Optical Terminal: MBRYONICS has been selected by the U.S. Defense Advanced Research Projects Agency (DARPA) to develop the StarCom optical terminal for the Space-BACN program, which aims to create a reconfigurable, multi-protocol intersatellite optical communications terminal.
    • Manufacturing Expansion: The EIC funding will enable the establishment of a significant manufacturing, assembly, and testing facility for optics and photonics in the west of Ireland over the next five years.

    Demonstrations and Pilots

    • Space-Based Quantum Internet: The StarCom optical terminal is set to launch in 2025, supporting a client's development of a space-based quantum internet.
    • Space-Based Internet: The US government has chosen StarCom to facilitate a space-based internet linking government satellites with commercial networks like Starlink and Kuiper.

    Patents and Scientific Studies

    There is no specific information available on new patents filed or scientific studies published by MBRYONICS since the EIC funding. However, the company continues to contribute to standards development in co-packaged optics and integrated photonics.

    Conclusion

    MBRYONICS has made significant advancements in optical communications technology, particularly with the development of the StarCom optical terminal. The company's focus on expanding its manufacturing capabilities and contributing to cutting-edge space communication projects underscores its commitment to innovation in the space-tech sector.

    Sources

    5 The Partnerships and Customers

    MBRYONICS Limited: Recent Developments and Partnerships

    MBRYONICS Limited, a Galway-based space technology company, has been at the forefront of advancements in photonics and space communication systems. Since receiving the European Innovation Council (EIC) Accelerator funding in late 2023, the company has continued to strengthen its position in the space industry.

    Partnerships and Customers

    MBRYONICS has established partnerships with several key entities in the space and technology sectors:

    • European Space Agency (ESA): One of MBRYONICS' high-profile customers, the ESA collaborates with the company on advanced space-related projects.
    • Irish Manufacturing Research (IMR) and ÉireComposites Teo: These partnerships are crucial for MBRYONICS' Freeform-OPTIX project, focused on manufacturing freeform optics for the space industry.
    • University of Galway's School of Science and Engineering: This collaboration aids in developing novel manufacturing processes and supports the company's research endeavors.
    • US Government: MBRYONICS' StarCom optical terminal was selected by the US government to facilitate a space-based internet, linking government satellites with commercial networks like Starlink and Kuiper.

    New Partnerships and Customers

    While specific new partnerships or customers have not been detailed since the EIC funding, the company's ongoing work with existing partners continues to drive innovation. The selection of MBRYONICS' technology by the US government for a space-based internet represents a significant new relationship that enhances the company's profile in the global space communication sector.

    Nature and Purpose of New Relationships

    The relationships MBRYONICS has established are primarily aimed at advancing space communication technologies and manufacturing capabilities. The collaboration with IMR, for instance, focuses on developing scalable manufacturing processes for freeform optics, which will enhance the company's ability to supply high-value components to the space industry.

    Impact on Market Position and Technology Advancements

    These relationships position MBRYONICS as a leading player in space photonics and communication systems. The funding from the EIC Accelerator and DTIF enables the company to expand its manufacturing capabilities and develop new facilities, which will significantly scale its operations and technology advancements. The involvement in projects like Freeform-OPTIX and the development of the StarCom optical terminal underscores MBRYONICS' role in driving innovation in space communication technologies.

    Scaling and Technology Advancements

    The recent investments will allow MBRYONICS to enhance its facilities and manufacturing processes, leading to increased efficiency and scalability. This expansion will support the development of more complex optical systems for future space missions and communication networks, further solidifying the company's position in the global space technology market.

    Sources

    6 The Hiring and Company Growth

    MBRYONICS Team Growth and Hiring Strategy Post-EIC Accelerator Funding Galway-based space-tech company MBRYONICS, which secured €17.5 million in March 2024 through the European Innovation Council (EIC) Accelerator Programme, is scaling its operations significantly. While exact current headcount figures are not explicitly stated in recent reports, the company has demonstrated rapid growth: it employed 12 people as of early 2023 and now describes itself as having a workforce that includes over 25 PhDs among its specialists. This suggests substantial expansion, particularly in technical roles.

    The company is actively hiring engineers, scientists, and industrial designers to support its new manufacturing facility in western Ireland. Key positions likely focus on photonics engineering, optical communications R&D, and production-line development for its StarCom optical terminal—a system set to launch in 2025 to enable space-based quantum internet infrastructure.

    Recent funding will fuel MBRYONICS’ establishment of a specialized optics/photonics manufacturing facility over five years. New hires are critical for advancing pilot production capabilities at their Galway cleanroom, enhancing their ability to deliver satellite communication terminals at scale. The leadership team remains stable with co-founders John Mackey (CEO), Dr. David Mackey (CTO), and Dr. Ruth Mackey (CSO/COO) continuing to drive strategy.

    Sources

    7 The Media Features and Publications

    MBRYONICS LIMITED Overview

    MBRYONICS LIMITED, based in Galway, Ireland, is a notable space tech company that has been at the forefront of transforming satellite communications and datacoms sectors. The company specializes in cutting-edge wireless optical transport and Coherent Photonic-Optical (CPO) transceiver technologies, ensuring high-speed, secure communication infrastructures in space, air, and on land.

    EIC Accelerator Funding

    In November 2023, Mbryonics submitted a Step 2 proposal for the EIC Accelerator, which led to a significant investment of €17.5 million in March 2024. This funding is part of the European Innovation Council (EIC) Accelerator Program, a flagship innovation initiative under the EU's Horizon Europe 2021-2027 Research and Innovation Programme.

    Media Features and Publications

    Several publications have highlighted Mbryonics' achievements and funding:

    • Silicon Republic: Featured Mbryonics' €17.5 million funding from the EIC Accelerator, emphasizing its role in advancing space tech in Ireland.
    • Horizoneurope: Detailed Mbryonics' cutting-edge technologies and the plans to establish a manufacturing facility in Ireland.
    • ThinkBusiness: Highlighted Mbryonics' innovative use of laser technology and its ambitions for the space tech sector in Ireland.

    Podcasts and Interviews

    While there are no specific podcasts or interviews directly mentioned in the available sources, Mbryonics is recognized for its leadership in the space tech industry. The company's founders, including John Mackey, have been involved in discussions about the potential of the space sector in Ireland.

    Conference and Fair Participations

    Mbryonics' involvement in conferences like the European Conference on Optical Communication (ECOC) is not explicitly mentioned. However, the company's focus on optical communications aligns with the topics covered at such events.

    Event Involvement

    Mbryonics' StarCom optical terminal is set to play a significant role in the development of space-based internet systems. The company has been selected by the US government for facilitating a space-based internet that will link government satellites with commercial networks like Starlink and Kuiper.

    Sources:

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