1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is a key initiative under the European Innovation Council (EIC) that supports small and medium-sized enterprises (SMEs) and startups with innovative and disruptive technologies. Its primary aim is to help high-potential companies scale up their innovations and bring them to market, particularly in the DeepTech sector, which includes advanced technologies that require significant research and development.

Funding Structure

The EIC Accelerator provides a unique funding mechanism that combines grants and equity:

Companies can receive a grant of up to €2.5 million. This grant is typically aimed at covering the costs associated with the development and scaling of innovative projects, including technology development, prototyping, and market introduction.

In addition to the grant, the EIC Accelerator offers equity funding of up to €15 million until 2024. After 2025, the maximum equity funding will be reduced to €10 million. This equity investment is designed to help companies secure the necessary capital to scale their operations and reach significant market penetration.

Purpose of the EIC Accelerator

The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem by providing essential support to innovative companies that often struggle to secure funding through traditional means. The program aims to:

• Foster innovation by supporting groundbreaking technologies that can address societal challenges.
• Enhance the competitiveness of European startups on a global scale, allowing them to compete with well-established companies, particularly in the United States and Asia.
• Drive economic growth by creating jobs and stimulating investment in high-tech sectors.

Role in Scaling and Funding

The EIC Accelerator is instrumental in helping companies achieve significant scale and attract private sector funding. Here’s how:

• Validation of Ideas: Winning the EIC Accelerator funding signals to private investors that a project has been rigorously evaluated and deemed viable, thereby increasing investor confidence.
• Access to Networks: The program provides access to a network of investors, mentors, and industry experts, facilitating connections that can lead to additional funding opportunities.
• Support for Scaling: By providing both grants and equity, the EIC Accelerator enables companies to focus on scaling their operations without the immediate pressure of generating profits.

Case Study: Orbisk BV and the Binspector Project

Company Overview

• Company Name: Orbisk BV
• Website: orbisk.com
• Country: Netherlands
• EIC Accelerator Submission Date: June 16, 2021

Project Overview: Binspector

• Acronym: Binspector
• Description: Orbisk's project Binspector is a cutting-edge food waste solution designed specifically for restaurants. The aim is to reduce food waste through innovative technology that analyzes waste patterns and provides actionable insights.

Technology Basics and Background

The Binspector technology leverages advanced machine learning and sensor technologies to monitor food waste in real-time. Here’s how it works:

Conclusion

The EIC Accelerator program, through initiatives like Orbisk's Binspector project, exemplifies how European innovation can address pressing challenges such as food waste. By providing a combination of grants and equity funding, the program plays a crucial role in enabling startups to scale their operations, secure private investment, and ultimately contribute to a more sustainable and innovative economy.

2 The Funding Rounds

Since receiving the EIC Accelerator funding on June 16, 2021, Orbisk BV, a Netherlands-based company specializing in AI-powered food waste reduction solutions, has secured additional funding through the following rounds:

1. Seed Funding Round (August 2021):

• Amount Raised: €1.05 million
• Lead Investor: FoodSparks by PeakBridge
• Additional Investors: EIT Food, DOEN Participaties, and Brabantse Ontwikkelings Maatschappij (BOM)
• Purpose: The funds were allocated to further research and development, market expansion, and scaling operations. (start-life.nl)

2. Series A Funding Round (December 2024):

• Amount Raised: Over €8 million
• Lead Investor: Regeneration.VC
• Co-Lead Investor: PeakBridge
• Additional Investors: Kost Capital, DOEN Participaties, Brabantse Ontwikkelings Maatschappij (BOM), and EIT Food
• Purpose: The capital is intended to advance AI technology development, drive operational innovation, enhance customer integrations, and expand the global team. (orbisk.com)

Investor Information:

• Regeneration.VC: A venture capital firm focusing on sustainable and impactful investments.
• PeakBridge: A venture capital firm specializing in food and agriculture technology investments.
• Kost Capital: An investment firm participating in the Series A round.
• DOEN Participaties: An impact investment firm supporting sustainable initiatives.
• Brabantse Ontwikkelings Maatschappij (BOM): A regional development agency investing in innovative companies.
• EIT Food: A European Union initiative supporting food innovation and sustainability.

Company Valuations: Specific valuations for Orbisk during these funding rounds are not publicly disclosed. However, the substantial investments indicate strong confidence in the company's growth potential and market position.

As of April 16, 2025, there are no publicly available records of additional funding rounds or exit events for Orbisk BV beyond the Series A round in December 2024.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, Orbisk BV has published several press releases detailing their progress and initiatives:

1. Series A Funding Announcement (December 9, 2024): Orbisk secured over €8 million in an oversubscribed Series A venture capital investment round. The funding was led by Regeneration.VC and co-led by PeakBridge, with participation from Kost Capital, DOEN Participaties, Brabant Development Agency (BOM), and EIT Food’s AgriFoodInvest. The funds are allocated to further develop AI technology, drive operational innovation, enhance customer integrations, and strengthen the global team. (orbisk.com)

2. Feike Sijbesma Sustainable Innovation Award (May 25, 2023): Orbisk's automatic food waste monitor won the Feike Sijbesma Sustainable Innovation Award. The award recognized Orbisk's technology that monitors waste in professional kitchens, identifying the weight and type of discarded food. The company received €25,000 as part of the award. (fanext.com)

3. Five-Year Impact Report (April 5, 2024): Celebrating its fifth anniversary, Orbisk released its first Impact Report, revealing that it saved 737,520 kilograms of food from waste worldwide, equivalent to approximately 1.6 million meals. This effort prevented 3.3 million kilograms of CO₂ emissions and conserved 5.2 billion liters of water. The report highlights Orbisk's commitment to creating a more sustainable food system through AI-driven solutions. (orbisk.com)

4. 2024 Impact Report (January 14, 2025): Orbisk's 2024 Impact Report indicates that the company saved over 1.9 million kilograms of food waste, preventing 6.1 million kilograms of CO₂ emissions and conserving 13.9 billion liters of water. The report underscores Orbisk's rapid growth and its mission to reduce food waste globally. (orbisk.com)

Partnerships and Technology Advancements:

• Carnival Cruise Line: Following a successful pilot, Orbisk's Orbi systems are set to be deployed on select Carnival ships in 2025, enhancing food waste management in the cruise industry. (orbisk.com)
• Accor: Orbisk partnered with Accor, a global hospitality leader, to help reduce food waste by 60% by 2030 across participating hotels, surpassing the United Nations’ Sustainable Development Goals. (orbisk.com)

Team Updates:

Michiel Bakker: A member of Orbisk’s supervisory board, Bakker emphasized the pivotal role of the Series A funding in advancing Orbisk's mission to revolutionize food waste management through innovative technology. (orbisk.com)

These press releases and partnerships highlight Orbisk's ongoing efforts to combat food waste through technological innovation and strategic collaborations.

4 The Technology Advancements

Orbisk BV, founded in 2019 and headquartered in Utrecht, Netherlands, specializes in AI-driven solutions to reduce food waste in professional kitchens. Their primary product, the Orbi, is an automated food waste monitor that utilizes artificial intelligence to identify and quantify discarded food items, providing actionable insights to optimize kitchen processes and minimize waste.

Advancements Since EIC Accelerator Funding (June 16, 2021):

Since receiving €2.4 million in grant funding from the European Innovation Council (EIC) Accelerator in June 2021, Orbisk has achieved several significant milestones:

• Series A Funding: In December 2024, Orbisk secured over €8 million in an oversubscribed Series A venture capital investment round. This funding, led by Regeneration.VC and co-led by PeakBridge, aims to further develop AI technology, drive operational innovation, enhance customer integrations, and strengthen the global team. (orbisk.com)
• Partnerships and Market Expansion: Orbisk has expanded its market presence through strategic partnerships:
• Carnival Cruise Line: Following a successful pilot, Orbisk's Orbi systems are set to be deployed on select Carnival ships in 2025. (orbisk.com)
• Accor: Orbisk's collaboration with Accor has contributed to the hotel's goal of reducing food waste by 60% by 2030 across participating hotels. (orbisk.com)
• International Expansion: Operating in over 40 countries, Orbisk plans to enhance its presence in the USA and eventually expand into Asia, aiming to significantly increase the amount of food saved globally. (orbisk.com)

Technological Improvements and New Features:

While specific details on technological enhancements post-EIC funding are limited, the Series A funding is intended to further develop AI technology and drive operational innovation, indicating ongoing improvements in Orbisk's offerings. (orbisk.com)

Demonstrations and Market Adoption:

Orbisk has demonstrated its technology through various partnerships and deployments:

• Carnival Cruise Line: The successful pilot with Carnival Cruise Line has led to plans for deploying Orbisk's systems on select ships in 2025. (orbisk.com)
• Accor: Orbisk's collaboration with Accor has contributed to the hotel's goal of reducing food waste by 60% by 2030 across participating hotels. (orbisk.com)

Intellectual Property and Publications:

There is no publicly available information indicating that Orbisk has filed new patents or published scientific studies, clinical trials, or whitepapers since June 2021.

In summary, since receiving EIC Accelerator funding in June 2021, Orbisk has made significant strides in expanding its market presence, securing substantial funding, and forming strategic partnerships to combat food waste globally.

5 The Partnerships and Customers

Since receiving EIC Accelerator funding on June 16, 2021, Orbisk BV, a Netherlands-based company specializing in AI-driven food waste reduction solutions, has established several significant partnerships and expanded its customer base.

New Partners:

• Regeneration.VC: In December 2024, Orbisk secured over €8 million in Series A funding, led by Regeneration.VC and co-led by PeakBridge. This investment aims to further develop Orbisk's AI technology, drive operational innovation, enhance customer integrations, and strengthen its global team. (orbisk.com)
• Kost Capital: Alongside Regeneration.VC, Kost Capital participated in Orbisk's Series A funding round, contributing to the company's financial growth and expansion plans. (orbisk.com)

New Customers:

• Carnival Cruise Line: Following a successful pilot, Orbisk's innovative food waste monitoring systems are set to be deployed on select Carnival ships in 2025, marking a significant expansion into the cruise industry. (orbisk.com)
• Accor Hotels: Orbisk partnered with Accor, a global hospitality leader, to help reduce food waste across participating hotels. This collaboration supports Accor's goal to reduce food waste by 60% by 2030, surpassing the United Nations’ Sustainable Development Goals. (orbisk.com)

Nature and Purpose of Relationships:

• Regeneration.VC and Kost Capital: These venture capital firms provide financial backing to Orbisk, enabling the company to scale its operations, enhance its technological capabilities, and expand its market presence.
• Carnival Cruise Line: The partnership involves deploying Orbisk's food waste monitoring systems on select cruise ships, aiming to optimize kitchen processes and reduce food waste within the cruise industry.
• Accor Hotels: Orbisk's technology assists Accor in monitoring and reducing food waste across its hotels, contributing to the hospitality giant's sustainability initiatives.

Market Positioning:

These partnerships position Orbisk as a leading provider of AI-driven food waste solutions in the hospitality sector. Collaborations with major industry players like Accor and Carnival Cruise Line enhance Orbisk's credibility and visibility, facilitating entry into new markets and customer segments.

Technology Advancements and Scaling:

The Series A funding from Regeneration.VC and Kost Capital will enable Orbisk to further develop its AI technology, drive operational innovation, and enhance customer integrations. The partnership with Carnival Cruise Line allows Orbisk to adapt its technology for the cruise industry, while the collaboration with Accor Hotels provides valuable data and insights to refine and scale its solutions across a global network.

Through these strategic partnerships and customer engagements, Orbisk is well-positioned to advance its mission of reducing food waste and promoting sustainability within the global hospitality industry.

6 The Hiring and Company Growth

Since receiving the EIC Accelerator funding on June 16, 2021, Orbisk BV, a Dutch company specializing in AI-driven food waste reduction solutions, has experienced significant growth and expansion.

Current Team Size and Hiring Status:

As of January 2025, Orbisk has saved over 1.9 million kilograms of food waste, with more than 1.25 million kilograms saved in 2024 alone. (orbisk.com) This substantial impact indicates a growing team dedicated to their mission. While specific current headcount figures are not publicly disclosed, the company's rapid expansion suggests a significant increase in team size since 2021. Orbisk is actively hiring to support its growth, with current job openings listed on their careers page.

Growth and Recent Hires:

In December 2024, Orbisk secured over €8 million in Series A funding, led by Regeneration.VC and co-led by PeakBridge, with participation from Kost Capital, DOEN Participaties, Brabant Development Agency (BOM), and EIT Food’s AgriFoodInvest. (orbisk.com) This funding is earmarked for further developing AI technology, driving operational innovation, enhancing customer integrations, and strengthening the global team. While specific details about recent key hires are not publicly available, the funding and expansion efforts indicate strategic recruitment to bolster various departments.

Impact of New Team Members:

The influx of new talent is expected to accelerate Orbisk's mission to reduce food waste globally. Enhanced capabilities in AI development, customer integration, and operational efficiency will enable Orbisk to scale its solutions more effectively, thereby increasing its impact on sustainability in the foodservice industry.

Management and Founding Team Changes:

There are no publicly available reports of major changes in Orbisk's management or founding team since the EIC Accelerator funding in 2021. The leadership team remains focused on executing the company's growth and sustainability objectives.

For more detailed information on current job openings and team developments, you can visit Orbisk's careers page.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, Orbisk BV has been featured in various media outlets, participated in industry events, and secured significant funding. Below is a summary of their activities and media coverage:

Media Features and Publications:

• Feike Sijbesma Sustainable Innovation Award 2023: On May 25, 2023, Orbisk won the Feike Sijbesma Sustainable Innovation Award for their AI-driven food waste monitor, Orbi. The award recognized their contribution to sustainable innovation in the food industry. (fanext.com)
• Series A Funding Announcement: On December 9, 2024, Orbisk secured over €8 million in Series A funding, led by Regeneration.VC and co-led by PeakBridge. The investment aims to further develop their AI technology and expand global operations. (orbisk.com)
• SIAL Paris 2022: In February 2022, Orbisk introduced a new program using innovative technology and AI to provide the food service industry with detailed insights into its food waste, aiming to reduce industry food waste by up to 50%. (newsroom.sialparis.com)
• StartLife Grant Funding: On October 14, 2021, Orbisk announced receiving €2.4 million from the European Commission’s European Innovation Council (EIC) to scale up their business internationally and enhance their technology. (start-life.nl)

Podcasts and Interviews:

Food Inspiration Magazine Interview: Orbisk's co-founder, Olaf van der Veen, discussed the company's mission to combat food waste using AI technology and their plans for international expansion in an interview published on Food Inspiration Magazine. (foodinspirationmagazine.com)

Conferences and Events:

• Gulfood Green 2024: Orbisk participated as an exhibitor at Gulfood Green 2024, showcasing their AI-powered food waste monitor, Orbi, which reduces kitchen waste by up to 70% and promotes sustainability within the hospitality industry. (gulfoodgreen.com)
• CES 2022: In January 2022, Orbisk exhibited at the Consumer Electronics Show (CES) in Las Vegas as part of the Dutch trade mission, connecting with potential customers and partners. (foodinspirationmagazine.com)

Involvement in Events:

Horecava 2022: Orbisk exhibited at Horecava 2022 in Amsterdam, presenting their food waste monitoring solution to the hospitality industry. (start-life.nl)

These activities highlight Orbisk BV's ongoing efforts to combat food waste through innovative AI technology and their active participation in industry events to promote sustainability in the food service sector.