1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, a key initiative of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. Its primary aim is to help these companies develop and scale breakthrough technologies and innovations that can significantly impact the market. The program provides a combination of funding options—including grants and equity investments—tailored to meet the unique needs of each project.

Funding Structure

The EIC Accelerator offers substantial financial support, allowing for a combination of grant and equity funding. The grant component can provide up to €2.5 million, aimed at supporting the early stages of technology development and validation. This funding is crucial for covering costs associated with research, development, and initial market entry.

In addition to the grant, the program offers equity investment opportunities. Initially, applicants could secure up to €15 million in equity funding until 2024. Since 2025, this amount has been adjusted to a maximum of €10 million. This equity investment is intended to support the scaling phase of innovative projects, helping companies transition from prototypes to market-ready products.

Purpose of the EIC Accelerator

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by fostering innovation across various sectors. By providing financial backing and strategic support, the program aims to bridge the funding gap that many high-potential startups face, particularly in the critical early stages of development. This assistance not only accelerates the commercialization of cutting-edge technologies but also enhances Europe's competitiveness in global markets.

Additionally, the EIC Accelerator facilitates connections between innovative companies and potential private investors. By demonstrating the viability and market potential of supported projects, the program increases the likelihood of further investment from private sectors, thereby ensuring sustainable growth for these enterprises.

Case Study: MORPHOTONICS BV and Project AR-R2P

Company Overview

MORPHOTONICS BV, based in the Netherlands, is an innovative company focused on developing advanced optical technologies. Their expertise lies in the design and manufacturing of optical components, particularly those that leverage augmented reality (AR) technologies. The company aims to revolutionize the way optical devices are manufactured and integrated into consumer products.

Project AR-R2P

The project titled AR-R2P stands for "Mass Manufacturing Augmented Reality (AR) Waveguides via Roll-to-Plate Nanoimprinting." This initiative focuses on creating a novel method for producing AR waveguides through a scalable and efficient manufacturing process. The project was submitted on March 22, 2023, and successfully advanced through the EIC Accelerator’s selection process.

Technology Background

The AR waveguides developed by MORPHOTONICS BV are integral components for AR glasses and other wearable devices. These waveguides enable the projection of digital images onto the real world, enhancing the user experience in augmented reality applications. Traditional manufacturing techniques for waveguides can be costly and time-consuming, often limiting scalability.

The AR-R2P project aims to implement a Roll-to-Plate nanoimprinting technique, which is a breakthrough in manufacturing efficiency. This method allows for the mass production of intricate optical patterns on a large scale, significantly reducing production times and costs. By utilizing this innovative approach, MORPHOTONICS BV seeks to make AR technologies more accessible and commercially viable.

The project not only addresses the technical challenges associated with AR waveguide manufacturing but also aims to position Europe as a leader in the growing AR market. By leveraging the funding and support from the EIC Accelerator, MORPHOTONICS BV is poised to scale its operations and bring transformative AR solutions to consumers in a cost-effective manner.

Conclusion

The EIC Accelerator program stands as a vital resource for innovative companies like MORPHOTONICS BV. By providing substantial funding and facilitating access to private investment, the program empowers startups to scale their groundbreaking technologies effectively. The success of projects like AR-R2P highlights the transformative potential of the EIC Accelerator in driving innovation and fostering growth within the European DeepTech ecosystem.

2 The Funding Rounds

Morphotonics BV: Financing and Funding Overview Since EIC Accelerator Award

Morphotonics BV, based in the Netherlands, has experienced notable growth and investment activity since winning the EIC Accelerator funding after submitting its successful proposal on March 22, 2023. Below is a detailed overview of the company's financing landscape, recent funding rounds, timing and amounts raised, investor participation, company valuation insights (where available), and any exit events.

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Financing Raised

• As of September 2024, Morphotonics has raised over $10 million in a Series B round.
• The total disclosed amount raised by Morphotonics across all funding rounds is at least $10 million.

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Funding Rounds: Timing & Amounts

Date	Round	Amount	Investors Involved
Sep 11, 2024	Series B	$10M+	Brabant Development Agency (BOM), Innovation Industries (co-leads), 3M Ventures
Jun 30, 2023	Grant	Not disclosed	-
Jun 30, 2023	Seed	Not disclosed	-
Jul 2, 2019	Seed VC	Not disclosed	-

-Prior to EIC Accelerator award; included for completeness.

The Series B round was announced as having a "first closing" with more than $10 million secured; an additional closing is anticipated by year-end to potentially increase this total further.

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Investor Information

• Series B Investors:
• Brabant Development Agency (BOM): Co-lead investor
• Innovation Industries: Existing investor and co-lead
• 3M Ventures: New strategic investor for this round

These investors are recognized for supporting deep-tech ventures. BOM highlighted support for regional manufacturing expertise; Innovation Industries continues ongoing backing from previous rounds; and global materials giant 3M emphasized potential collaboration with Morphotonics in display technologies.

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Details Related to Funding Rounds

• The funds will be used primarily to:
• Scale operations and supply chain
• Expand global customer base—especially targeting Asia
• Support new product innovations in display optics through fully automated large-area nanoimprinting technology
• The investment marks a strong endorsement of Morphotonics’ vision around glasses-free 3D displays and AR smart glasses markets.
• Company leadership stated that these resources position them at the brink of major growth phases within consumer electronics markets.

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Company Valuation

Publicly available sources do not disclose specific post-money or pre-money valuations associated with the latest or earlier rounds. Common industry practice suggests that new strategic investors like 3M*, alongside co-leading VCs such as BOM and Innovation Industries for a significant Series B raise ($10M+), likely place Morphotonics’ valuation well above its last seed stage but exact figures remain private. No regulatory filings or press releases provide explicit valuation numbers.

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Exit Events: IPOs/Buyouts/Acquisitions

As of May 5th, 2025:

There are no public records indicating that Morphotonics BV has undergone any exit events such as an Initial Public Offering (IPO), acquisition/buyout by another company or entity since March 22nd, 2023.

The company continues to operate independently under its original name without announcements regarding exits or major changes in ownership structure.

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Summary Table: Recent Financing Activity

Year	Round	Amount	Key Investors
Sep/2024	Series B	$10+ M	BOM (Brabant Development Agency), Innovation Industries (co-leads), new: 3M Ventures

No exits reported up to current date.

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Sources

• Morphotonics Announces First Closing of a $10+ Million Series B Funding Round
• Morphotonics Announces First Closing of a $10 Million Series B Funding Round – Business Wire
• CB Insights – Morphotonics Financial Data
• Optics.org – "3M backs Morphotronics"
• Bits & Chips – “Morphonics rolls in \$10m scale-up funding”

3 The Press Releases

MORPHOTONICS BV: EIC Accelerator Funding and Technology Focus MORPHOTONICS BV, a Netherlands-based deep-tech company, secured EIC Accelerator funding in March 2023 for its project titled "Mass Manufacturing Augmented Reality (AR) Waveguides via Roll-to-Plate Nanoimprinting." The company specializes in advanced manufacturing techniques to produce AR waveguides, critical components for next-generation augmented reality devices. Their technology focuses on scalable production methods using roll-to-plate nanoimprinting, which enables high-throughput fabrication of precision optical components.

While specific press releases or blog posts from morphotonics.com are not detailed in available records, the company’s EIC Accelerator proposal emphasized innovations in nanostructuring and optical component manufacturing, positioning it as a leader in AR hardware development. The awarded funding (combining grants and equity) supports scaling production capabilities for AR waveguides, which are essential for lightweight, high-performance AR glasses used in consumer electronics and industrial applications.

The absence of publicly disclosed post-funding updates—such as partnerships, patents, or team expansions—suggests MORPHOTONICS may still be operating under development or confidentiality agreements common to deep-tech ventures. However, their selection highlights the EIC’s confidence in their potential to advance Europe’s position in AR hardware innovation.

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Sources

• EIC Accelerator winners and statistics March 2023 - Strata.team
• European Innovation Council Accelerator: 51 deep tech start-ups selected
• EIC selects 51 European startups for Accelerator programme

-EIC Accelerator-March 22 Cut Off - European Innovation Council PDF

4 The Technology Advancements

Morphotonics BV: Post-EIC Accelerator Funding Advancements Since receiving the European Innovation Council (EIC) Accelerator Grant in June 2023, Morphotonics BV has accelerated its efforts in scaling nanoimprint lithography (NIL) technology for augmented reality (AR) waveguides and next-generation displays. Key developments include:

1. Series B Funding and Strategic Partnerships
In September 2024, Morphotonics announced the first closing of a $10+ million Series B round, co-led by BOM and Innovation Industries, with participation from 3M. This funding supports operational scaling, supply-chain automation, and expansion into Asian markets. The collaboration with 3M highlights potential material innovations for consumer electronics.

2. Technology Advancements

• Automated Nanoimprint Systems: The company is developing fully automated large-area NIL machines, including a customer-bound unit scheduled for delivery in 2025. These systems aim to enhance precision for semiconductor packaging and microLED mass transfer applications.
• AR Waveguide Production: While specific post-EIC technical milestones are not detailed publicly, the grant directly targeted scalable AR waveguide manufacturing—a priority confirmed by their EIC selection.

3. Market Demonstration and Customer Engagement
Morphotonics serves global customers across Europe, Asia, and the U.S., with equipment adopted for microLED displays and optical components. Their roll-to-plate NIL technology enables “trillions of lenses” on substrates exceeding one square meter, addressing demand for glasses-free 3D displays and energy-efficient mobile screens.

4. Intellectual Property and Publications
Publicly disclosed patents or peer-reviewed studies are not mentioned in recent updates. However, their proprietary large-area NIL processes are emphasized as commercially proven across automotive and display sectors.

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Sources

• Morphotonics Announces First Closing of a $10+ Million Series B Funding Round
• 3M backs Morphotonics for augmented reality lens production
• Interview with Erhan Ercan from Morphotonics
• EIC Accelerator Grant Announcement

5 The Partnerships and Customers

Morphotonics BV: Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

Since securing its European Innovation Council (EIC) Accelerator Grant in June 2023, Morphotonics has accelerated collaborations and investments to advance nanoimprint lithography for displays and AR/VR optics. The company’s partnerships span investors, global tech leaders, and manufacturing clients, positioning it as a key player in next-generation display production.

Key Partnerships and Customers

• Investors:
• 3M (new investor): Supports scaling operations through strategic collaboration in consumer electronics innovation.
• BOM (Brabant Development Agency) and Innovation Industries (co-leads of Series B): Enable expansion into Asian markets and large-area nanoimprint standardization.
• Technology Collaborators:
• Worked with leading AR companies, including Microsoft, Meta, Apple, and Vuzix, on waveguide samples for AR glasses. These collaborations validate Morphotonics’ roll-to-plate (R2P) nanoimprinting technology for mass production.

Purpose of New Relationships

• Scaling Manufacturing: The Series B funding ($10M+ first closing) will expand automated production lines to meet demand for energy-efficient displays and AR waveguides.
• Market Expansion: Focus on Asia aligns with growing consumer electronics markets, while the EIC project aims to establish a €10M European foundry to localize AR hardware production.

Market Positioning & Technology Advancements

The partnerships reinforce Morphotonics’ role in enabling cost-effective mass production of advanced optics:

• AR Glasses Waveguides: Patented R2P technology addresses scalability challenges cited by major AR manufacturers.
• Glasses-Free 3D Displays: Funding accelerates commercialization of immersive visual solutions for consumer electronics.

By combining EIC grant support with investor backing, Morphotonics aims to dominate nanoimprint lithography for high-volume applications like smart glasses and OLED displays while reducing reliance on non-European supply chains.

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Sources
Morphotonics Announces First Closing of a $10+ Million Series B Funding Round | Dutch-based Morphotonics raises $10M+ from 3M, BOM | BusinessWire Release on Series B | EIC Project Details | EIC Accelerator Grant Announcement

6 The Hiring and Company Growth

Morphotonics BV: Team Growth and Strategic Hiring Post-EIC Accelerator Funding

Since securing EIC Accelerator funding in March 2023, Morphotonics has demonstrated growth through a $10+ million Series B funding round (first closing in September 2024), with new investors including 3M and BOM. While specific hiring details post-2023 are not explicitly outlined, the company’s financial expansion suggests scaling activities.

• Current Headcount: Approximately 29–44 employees, based on conflicting reports. RocketReach lists 29 employees (as of 2024), while another source cites up to 44.
• Growth Trajectory: The Series B funding aims to accelerate operations, supply-chain scaling, and Asian market expansion, implying team growth in technical and commercial roles.
• Recent Leadership Changes: In October 2024, Hugo da Silva was appointed CEO, succeeding co-founder Jan Matthijs ter Meulen, signaling strategic leadership shifts for global market penetration.
• Key Positions: While no specific hires are detailed, the company emphasizes expanding its global customer-facing teams and technical expertise to support large-area nanoimprint lithography adoption. Erhan Ercan remains Head of Global Business Development, indicating stability in commercial roles.
• Future Impact: New leadership under da Silva is expected to drive automation advancements and product innovation for AR smart glasses and energy-efficient displays. Collaboration with investors like 3M may also spur cross-industry R&D hires.

The lack of explicit hiring announcements suggests Morphotonics prioritizes operational scaling over public recruitment updates. However, their participation in industry events like SPIE AR | VR | MR (January 2025) highlights ongoing efforts to attract partners and talent.

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Sources
Morphotonics Announces First Closing of a $10+ Million Series B Funding Round
Morphotonics Appoints Hugo da Silva as New CEO
Morphotonics Company Profile - RocketReach
Morphotonics at SPIE AR | VR | MR Exhibition

7 The Media Features and Publications

Morphotonics B.V., a Netherlands-based pioneer in large-area nanoimprint technology, has garnered significant media attention and industry recognition since its 2014 founding. The company’s innovations in roll-to-plate (R2P) nanoimprinting for optics and displays have positioned it as a key player in next-generation consumer electronics, augmented reality (AR), and automotive applications.

Media Features and Publications

Morphotonics was prominently featured in optics.org’s September 2024 coverage of its $10M+ Series B funding round, which included investments from 3M and the Brabant Development Agency (BOM). The article highlighted the company’s ambition to mass-produce "trillions" of lenses for AR glasses and energy-efficient displays. IDTechEx extensively documented Morphotonics’ technology through multiple reports (2022–2024), including a 2022 full-profile interview discussing its R2P systems for micro-optics fabrication. Additionally, CSEM publicly acknowledged Morphotonics in 2020 when integrating its R2P equipment into a pilot line for free-form optics under the EU-funded PHABULOuS project.

Conference Participation

The company actively participates in industry events, with IDTechEx analysts referencing Morphotonics’ advancements at conferences focused on wearable tech (2023) and metamaterials (2024). While specific podcasts remain undocumented, Erhan Ercan, Head of Global Business Development, has represented the company in interviews emphasizing their market strategy.

EIC Accelerator Context

Though the search results do not explicitly cite Morphotonics’ EIC Accelerator win from March 22, 2023, Innovation Industries—a confirmed investor—highlighted its role during the Series B raise as supporting "groundbreaking" display technologies aligned with EU innovation goals. This indirectly corroborates Morphotonics’ position as an EIC-backed deep-tech firm.

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Sources

• 3M backs Morphotonics for augmented reality lens production
• IDTechEx Company Timeline
• CSEM Press Release on Nanoimprint Collaboration