1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program plays a crucial role in fostering innovation across the European Union, particularly for deep tech startups and scale-ups. This initiative is part of the EIC's broader mission to support groundbreaking technologies that have the potential to create high-impact solutions. The EIC Accelerator is designed to provide funding and support to startups and small and medium-sized enterprises (SMEs) that are working on transformative projects.

Funding Structure

The EIC Accelerator offers a unique blended finance model, combining both grants and equity funding to support innovative projects. The program allows for grants of up to €2.5 million, aimed at covering specific project development costs, such as research and prototype development. In addition to this grant, the program also provides equity funding, which is available up to €15 million until 2024. Following this period, the equity funding cap will be reduced to a maximum of €10 million. This financial structure is designed to offer substantial support to companies at various stages of their development, facilitating the commercialization of innovative solutions.

Purpose and Role in the Ecosystem

The EIC Accelerator aims to enhance the startup ecosystem in Europe by bridging the funding gap that many innovative companies face, particularly in the deep tech sector. By providing financial resources and strategic support, the program encourages startups to scale their operations, enhance their market presence, and attract further investment from private sectors. The EIC Accelerator also emphasizes the importance of sustainability and technological advancement, aligning with Europe’s broader goals of digital transformation and green innovation.

Nanopower AS: EIC Accelerator Winner

Company Overview: Nanopower AS, based in Norway, has emerged as a winner in the EIC Accelerator program with its innovative project titled NANOPOWER. The company focuses on developing intelligent power management integrated circuits designed to enhance energy efficiency in the Internet of Things (IoT) landscape.

Project NANOPOWER: The NANOPOWER project is centered around creating advanced power management solutions that address the growing energy demands of IoT devices. As the number of connected devices increases, the need for efficient power management becomes critical to ensure sustainability and reduce carbon footprints.

Technology Basics and Background

Nanopower's technology revolves around the design and implementation of integrated circuits that intelligently manage power consumption. The core of their innovation lies in creating circuits that can adaptively regulate energy usage based on real-time data and demands from connected devices. This capability allows for significant reductions in energy waste, thereby contributing to a greener IoT ecosystem.

The intelligent power management systems developed by Nanopower can be integrated into various IoT applications, from smart home devices to industrial sensors. By utilizing advanced energy harvesting techniques and optimizing power distribution, their technology ensures that devices operate efficiently throughout their lifecycle without necessitating frequent battery replacements or excessive energy consumption.

Conclusion

The EIC Accelerator program serves as a vital mechanism for fostering innovation and supporting transformative projects like Nanopower's NANOPOWER initiative. By providing a blend of grants and equity funding, the program enables companies to overcome financial barriers and scale their groundbreaking technologies. Nanopower AS exemplifies how the EIC Accelerator can empower startups in the European deep tech ecosystem, paving the way for a more sustainable and efficient future in the realm of the Internet of Things.

2 The Funding Rounds

Financing Raised by Nanopower AS Since EIC Accelerator Funding

Nanopower AS, based in Norway, is a semiconductor company specializing in ultra-low-power integrated circuit design. The company received notable recognition and support from the European Innovation Council (EIC) Accelerator following its successful application in the June 2023 cut-off round.

Funding Rounds & Amounts

• EIC Accelerator Grant (November 2023):
• Amount: €2.5 million grant
• Source: European Innovation Council
• This award resulted from Nanopower's successful participation in the EIC Accelerator call corresponding to proposals submitted by June 21, 2023.
• Private Investment Round (October–November 2023):
• Amount: NOK 16 million (~€1.4 million)
• While specific investors for this round are not disclosed publicly, this capital injection occurred closely following the EIC grant and is likely aligned with scaling operations post-EU funding.
• Previous Grant Funding (November 1, 2022):
• Amount: $0.58 million (~NOK ~6 million at historical rates)
• Investor: Norges Forskningsråd (Research Council of Norway)
• This grant predates the EIC award and supported earlier development stages.

Timing of Key Funding Events

Date	Type	Amount	Investors
Nov. 1, 2022	Grant	$0.58M	Norges Forskningsråd
Oct.–Nov. 2023	Equity/VC	NOK 16M	Not publicly disclosed
Nov. 2023	EU Grant	€2.5M	European Innovation Council

Investor Information

• The main identified public investor is Norges Forskningsråd via a grant awarded on November 1, 2022.
• The recent NOK 16M investment round’s participants have not been specified as of May 5, 2025.
• The €2.5M EIC funding is non-dilutive; however, most recipients may also be eligible for subsequent equity investments through the EIC Fund under "blended finance," though there is no public evidence yet that Nanopower has closed such an equity tranche.

Valuation Data

There are no official or independently reported valuation figures for Nanopower AS available from recent funding rounds or financial data providers as of May 2025. Market estimates or implied valuations have not been published.

Exit Events: IPOs & Acquisitions

No records indicate that Nanopower AS has undergone any exit event—such as an initial public offering (IPO), acquisition/buyout—or announced plans to do so since receiving its EIC Accelerator funding up to May 5th, 2025.

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Summary Table: Recent Financing

Date	Round/Event	Amount	Main Investor(s) / Source
Nov 1st 22	Grant	$0.58M	Norges Forskningsråd
Oct–Nov 23	Private Equity/VC?	NOK 16M (~€1.4M)	Not Disclosed
Nov 23	EU Grant	€2.5M	European Innovation Council

No exits via IPO/acquisition reported.

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Sources

• Nanopower Semiconductor company information – Climate-Kic
• Dealroom: Nanopower Semiconductor
• Nanopower raised NOK16m – Nordic9
• CB Insights profile: Nanopower
• Visit us at MWC25 – nanopowersemi.com/news/mwc25-barcelona

3 The Press Releases

Nanopower AS: EIC Accelerator Winner from Norway

Nanopower AS, a Norwegian company, emerged as a winner in the June 2023 cut-off of the European Innovation Council (EIC) Accelerator. This significant achievement marks a pivotal moment for the company, which is dedicated to developing innovative power management technologies.

Technology Advancements

Nanopower has developed a unique technology that significantly reduces the power consumption of battery-powered systems. Their nPZero subthreshold technology enables devices to operate in the nanoampere range while maintaining essential functions like monitoring. This technology is compatible with various wireless technologies and sensors, making it ideal for large-scale IoT applications. By increasing battery life, Nanopower aims to reduce the environmental impact associated with battery waste, which is a pressing issue given the projected high replacement rates of IoT batteries.

Funding and Strategic Partnerships

The EIC Accelerator funding awarded to Nanopower includes a non-dilutive grant of €2.5 million and an equity investment of €5 million from the EIC, which will be matched by other investors. This total funding of €7.5 million is crucial for Nanopower to scale up its operations, commercialize its products, and further develop its innovative chip technology. The support from the EIC and other investors underscores the potential of Nanopower’s technology to disrupt traditional power management systems.

Business and Market Strategy

With the EIC funding, Nanopower is poised to transition from the development phase to market deployment. The company plans to focus on bringing its first-generation chip to customers, facilitating product testing and integration into various applications. This strategic move aims to position Nanopower as a leader in low-power solutions, enhancing the sustainability and efficiency of IoT devices.

Press Releases and Updates

Nanopower Semiconductor has been actively sharing updates on its achievements and future plans through its website and social media channels. Notably, the company announced its participation in major industry events like Hardware Pioneers Max and Embedded World 2025, highlighting its commitment to showcasing its technology and engaging with industry stakeholders.

Conclusion

Since receiving the EIC Accelerator funding in June 2023, Nanopower AS has been advancing its mission to redefine low-power technology. With significant financial backing and a strong focus on innovation and sustainability, Nanopower is well-positioned to make a lasting impact in the IoT industry.

Sources: - Nanopower receives EIC Accelerator funding

• Nanopower | Home
• EIC Accelerator winners and statistics June 2023

4 The Technology Advancements

Nanopower Semiconductor AS: Post-EIC Accelerator Funding Advancements Norwegian fabless semiconductor company Nanopower has demonstrated significant progress since receiving €7.5 million in EIC Accelerator funding in November 2023. The company, specializing in ultra-low-power IC technology for IoT applications, has focused on commercializing its nPZero power-saving chip and expanding market reach.

Core Technological Advancements

• nPZero Evaluation Kit Launch: In March 2025, Nanopower released an evaluation kit enabling developers to integrate its IC into battery-powered systems. The kit includes sensor boards (e.g., temperature and accelerometer), an STM32L053C8 MCU board, and a graphical configuration tool for autonomous peripheral management.
• Power Efficiency: The nPZero IC reduces overall system energy consumption by up to 90% by autonomously handling sensor data collection while keeping the host microcontroller in sleep mode.

Market Demonstrations and Commercialization

• Customer Engagement: Initial samples of the nPZero IC began shipping to customers in Q1 2025, with evaluation kits available for pre-order as of March 2024 (general availability expected by end of Q2 2025).
• Industry Presence: Nanopower exhibited at Embedded World and MWC 2025, emphasizing applications for large-scale IoT deployments requiring extended battery life.

Strategic Developments

• Leadership Expansion: Svein-Egil Nielsen, former Nordic Semiconductor CTO, joined as board chair in January 2025 to drive global scaling efforts.
• Funding Utilization: EIC Accelerator funds are supporting volume production, technical support teams, and further R&D.

Intellectual Property and Research Outputs

While no new patents or peer-reviewed studies are explicitly mentioned post-funding:

Collaborative R&D: A NOK 6 million project with the University of South-Eastern Norway (ongoing until 2025) focuses on power-harvesting solutions for batteryless IoT devices.

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Sources
Nanopower Semiconductor Unveils Evaluation Kit | Svein-Egil Nielsen Appointment | EIC Accelerator Funding Announcement | GreenTech Research Grant | Project Collaboration Details

5 The Partnerships and Customers

Nanopower AS: Partnerships and Advancements

Nanopower AS, a Norwegian company, has been making significant strides in the semiconductor industry since receiving the EIC Accelerator funding in June 2023. The company specializes in ultra-low power semiconductor technology, particularly with its nPZero IC, which promises up to 90% energy savings for battery-powered devices.

Partnerships and Customers

Nanopower AS collaborates with several key partners to enhance its capabilities and expand its reach:

• Epishine: A Swedish company specializing in printed organic solar cells. This partnership aims to create self-powered electronics, reducing the need for batteries and maintenance.
• Intoto: A Norwegian company focused on river monitoring and flood prevention. It utilizes Nanopower's technology to advance sustainable infrastructure.
• Svep Design Center AB: A Swedish hardware designer and IoT cloud provider. Svep assists customers without design capabilities in integrating Nanopower's ICs and provides technical feedback on products.
• European Innovation Council (EIC): Supports Nanopower through funding and international trade fair programs.
• Pareto Securities: Acts as Nanopower's advisor for capital markets.
• ZAZ Ventures: Provides guidance on European funding schemes.
• Research Council of Norway: Offers financing for enabling technologies.
• Skattefunn: Supports capital-intensive development work like IC design.

New Partnerships and Customers

While specific new partnerships or customer names are not detailed, Nanopower's recent activities and announcements suggest ongoing collaboration with existing partners and participation in major industry events. For instance, Nanopower's involvement with TDK for a smart energy solution at Embedded World indicates continued innovation and expansion of partnerships.

Purpose and Nature of Relationships

These partnerships focus on developing sustainable and energy-efficient solutions, particularly in IoT and wearable technologies. They enable Nanopower to leverage expertise from diverse fields, enhance product design, and access broader markets.

Market Positioning and Technology Advancements

Nanopower's partnerships and relationships are crucial for positioning the company as a leader in ultra-low power technology. By collaborating with industry experts and innovators, Nanopower can accelerate its product development and scaling efforts. For example, the appointment of Svein-Egil Nielsen, former CTO of Nordic Semiconductor, as the Chair of the Board, signifies Nanopower's ambition to expand globally and innovate further in the semiconductor space.

Scaling and Technology Advancements

The partnerships and funding support enable Nanopower to advance its technology and scale its operations efficiently. EIC Accelerator funding and guidance from experienced partners like Pareto Securities and ZAZ Ventures facilitate access to financial resources and strategic advice. This support is essential for Nanopower to refine its nPZero IC technology and meet the growing demand for sustainable IoT solutions.

Sources:

• Nanopower | Home
• Partners - Nanopower
• Promise of up to 90% energy savings set to be realized as Nanopower starts shipping evaluation kits for nPZero power-saving IC
• Svein-Egil Nielsen, former CTO of Nordic Semiconductor, joins Nanopower as Chair of the Board
• Nanopower looks to chipscale power management
• Nanopower Semiconductor Shines at CES 2025
• Investor Relations - Nanopower
• News | Innovation - Nanopower Semiconductor

6 The Hiring and Company Growth

Nanopower AS: Enhancing Team and Growth

Nanopower AS, a Norwegian company, gained significant attention after receiving funding from the European Innovation Council (EIC) Accelerator in June 2023. This support has been pivotal in enhancing their team and driving growth.

Current Headcount and Team Size

As of early 2025, Nanopower has a team of 22 people. This is a crucial period for the company as they ramp up production and distribution efforts, including the appointment of a new VP of sales and partnerships.

Hiring and Team Growth

Nanopower is indeed actively scaling its operations. While specific details on current hiring statuses are not available, the addition of new roles like a VP of sales and partnerships indicates the company's commitment to expanding its team. The growth in personnel is vital for supporting the commercialization of their innovative technologies, such as the nPZero IC.

Key Positions and Recent Hires

The company has recently emphasized the importance of business development and technical roles. Positions such as Technical Sales Manager and Field Application Engineer highlight their focus on both commercial expansion and technical expertise. The new VP of sales and partnerships is another critical hire, underscoring the company's intent to bolster its market presence.

Impact on Company Growth

The influx of new team members is pivotal for Nanopower as they seek to scale and grow. These additions enable the company to effectively market and support their groundbreaking low-power technologies, such as the nPZero IC, which promises up to 90% energy savings. This expansion in personnel will facilitate Nanopower's ability to meet rising demand for their solutions, particularly in the IoT sector.

Management and Founding Team Changes

There is no specific information available regarding major changes in management or the founding team since the EIC Accelerator funding. However, the appointment of new roles suggests strategic adjustments aimed at leveraging the company's technological advancements and funding support.

Future Outlook

Nanopower's growth trajectory is closely tied to its ability to successfully integrate new team members and leverage the EIC funding to accelerate product development and market penetration. The company's focus on ultra-low power technologies positions it well for addressing environmental challenges associated with battery waste, offering sustainable solutions for IoT applications.

Sources

• The Team
• Nanopower looks to chipscale power management
• Nanopower
• Promise of up to 90% energy savings set to be realized as Nanopower starts shipping evaluation kits for nPZero power-saving IC
• Promise of up to 90% energy savings set to be realized as Nanopower starts shipping evaluation kits for nPZero power-saving IC
• Nanopower receives EIC Accelerator funding

7 The Media Features and Publications

Nanopower AS: Media Presence and Industry Engagement Post-EIC Accelerator Funding Nanopower Semiconductor AS, a Norwegian fabless semiconductor company specializing in ultra-low-power IoT solutions, has maintained a growing industry presence since its EIC Accelerator funding success in June 2023. While direct media coverage of the EIC award is not publicly documented in available sources, the company’s activities and milestones include:

Media Features and Publications

• Press Releases: Nanopower announced Svein-Egil Nielsen, former Nordic Semiconductor CTO, as its board chair in February 2025 via PR Newswire. The release emphasized the commercial launch of its nPZero IC and plans to supply evaluation boards to customers.
• Company Profiles: Nanopower is listed on platforms like Business Norway and Dealroom.co, highlighting its focus on sustainable IoT solutions through subthreshold IC design.

Conferences and Fairs

• Embedded World 2025: Nanopower confirmed participation as an exhibitor at this leading embedded systems trade fair.
• Hardware Pioneers Max: The company also announced attendance at this event to showcase its nPZero technology for battery-powered applications.

Recent Developments (2024–2025)

• Product Milestones: Samples of the nPZero IC began shipping to customers in early 2025 following successful prototyping in 2020–2021.
• Leadership Expansion: The appointment of Nielsen reflects strategic moves to scale operations globally using his experience from Nordic Semiconductor’s $500M+ revenue growth phase.

No podcasts or interviews with leadership were identified directly from available sources.

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Sources

• PR Newswire: Svein-Egil Nielsen Joins Nanopower
• Business Norway Company Profile
• Dealroom.co Financial Overview
• Nanopower Announces Embedded World Participation