1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a key funding initiative designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This program primarily targets high-risk, high-impact projects that have the potential to bring groundbreaking innovations to market. The EIC Accelerator provides a combination of grants and equity investments to facilitate the development and scaling of these innovations, ultimately aiming to strengthen the European DeepTech ecosystem.

Funding Structure

The EIC Accelerator offers a unique funding structure that includes a grant component and an equity investment component. The grant portion can reach up to €2.5 million, aimed primarily at supporting early-stage development activities such as prototyping, testing, and market validation. This allows companies to focus on their products without the immediate pressure of generating revenue.

In addition, the EIC Accelerator provides equity investments that can amount to €15 million until 2024, and subsequently, up to €10 million from 2025 onwards. This funding is particularly crucial for scaling operations, enhancing production capabilities, and expanding into new markets. By combining grants with equity funding, the EIC Accelerator not only helps companies mitigate financial risks but also aligns the interests of both the European Union and the innovative enterprises they support.

Purpose in the European DeepTech Ecosystem

The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem by fostering innovation and facilitating the commercialization of advanced technologies. It provides a safety net for ambitious projects that may struggle to secure traditional funding due to their high-risk nature. By offering significant financial resources and support, the EIC Accelerator empowers companies to push the boundaries of technological advancement, ultimately contributing to the competitiveness of the European economy.

Furthermore, the program encourages collaboration between startups and established businesses, fostering a vibrant ecosystem that drives innovation. By connecting these entities, the EIC Accelerator enhances knowledge transfer and accelerates the development of new solutions that address pressing societal challenges.

Role in Scaling and Private Sector Funding

The EIC Accelerator plays a crucial role in helping companies scale by providing not only financial resources but also mentorship and access to a network of investors and industry experts. This support is particularly important for startups that may lack the experience or connections necessary to attract private funding. The EIC Accelerator's involvement signals to investors that a project has been rigorously evaluated and deemed viable, thereby increasing its attractiveness in the private sector.

Moreover, the program emphasizes the importance of building a solid business model alongside technological innovation. This holistic approach ensures that companies are not only developing cutting-edge technologies but are also poised for long-term success in the market.

Case Study: Peili Vision Oy and the VR4NEURO Project

Peili Vision Oy, a Finnish company, emerged as a notable winner of the EIC Accelerator, securing funding for its ambitious project, VR4NEURO. This project aims to build the world’s largest digital hospital for neurological challenges. The funding proposal for VR4NEURO was submitted on March 23, 2022, and the company successfully advanced through the rigorous selection process of the EIC Accelerator.

Project Overview: VR4NEURO

The VR4NEURO initiative seeks to harness the power of virtual reality (VR) technology to deliver innovative treatment solutions for patients facing neurological disorders. The project focuses on creating a digital hospital environment that integrates advanced VR applications to enhance patient care, streamline diagnostics, and improve therapeutic outcomes.

Technological Background

The technology underlying VR4NEURO is rooted in the principles of immersive virtual environments, which have been shown to have significant therapeutic benefits for various neurological conditions. By simulating real-world scenarios, VR technology can help patients undergo rehabilitation in a controlled, engaging setting. This approach not only aids in physical recovery but also addresses cognitive and emotional aspects of neurological rehabilitation.

The digital hospital will incorporate a range of VR applications tailored to specific neurological challenges, such as stroke rehabilitation, traumatic brain injury recovery, and neurodegenerative diseases. These applications are designed to provide personalized treatment plans, enabling healthcare professionals to monitor patient progress in real-time and adjust therapies as needed.

Peili Vision Oy's commitment to leveraging cutting-edge technology in healthcare exemplifies the transformative potential of the EIC Accelerator program. By supporting projects like VR4NEURO, the EIC Accelerator contributes to the advancement of healthcare innovation, ultimately aiming to improve the quality of life for individuals facing neurological challenges.

2 The Funding Rounds

Peili Vision Oy: Funding and Investment Overview Since EIC Accelerator Award (March 23, 2022)

Financing Raised

Peili Vision Oy, a Finnish health technology company specializing in digital tools for neurodiversity assessment and management, has raised key rounds of funding since its inception. Prior to the EIC Accelerator award in March 2022, the company completed an early-stage investment round totaling €300,000. This seed funding was aimed at product development, sales expansion, and internationalization efforts.

In addition to equity financing, Peili Vision secured a development loan from Business Finland's Innovation Finance Center for an ongoing €500,000 product development project.

Currently (as of Q2 2025), Peili Vision is targeting a Series A investment round with a goal of raising €1 million. The closing date for this round is set for August 29, 2025. This indicates active fundraising efforts post-EIC Accelerator success.

Funding Rounds: Timing & Amounts

• Seed Round:
• Timing: Announced prior to March 2022
• Amount: €300,000
• Development Loan:
• Provider: Business Finland Innovation Finance Center
• Amount: €500,000 (for ongoing product development project)
• Series A Round (Ongoing/Upcoming):
• Target Amount: €1 million
• Planned Closing Date: August 29, 2025

Investor Information

The investors involved in the seed round include: - Nordic XR Startups Oy

• Lavis Con Oy
• Rela Invest Oy
• Angel investor Jonna Tolonen

These investors are primarily angel and family investment companies with expertise or interest in early-stage technology ventures.

Details on potential Series A investors have not yet been disclosed publicly as of April 2025.

Company Valuation

No explicit public valuation figures are available for Peili Vision through recent funding rounds or official disclosures. However:

• Typical European seed rounds (€100k–€1m) often value companies between approximately €1 million–€4 million pre-money.
• With a targeted Series A raise of €1 million by late summer/fall of 2025—assuming market norms—the post-money valuation could be expected within the range common to similar digital health startups advancing toward commercialization and internationalization at this stage.

Exit Events

There are no recorded exit events such as IPOs (Initial Public Offerings), buyouts by larger firms or acquisitions involving Peili Vision as of April 24th, 2025. The focus remains on growth financing rather than strategic exits at this time.

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Summary Table: Key Financing Milestones Since EIC Accelerator Cut-off (March 23rd 2022)

Date	Round Type	Amount Raised	Investors Involved	Notable Details
Pre-March 22	Seed	€300k	Nordic XR Startups Oy, Lavis Con Oy, Rela Invest Oy, Jonna Tolonen	Equity raise
Pre-March 22	Development Loan	€500k	Business Finland	Product dev./R&D loan
Aug 29 25†	Series A	Target: €1M	Not Disclosed	Currently raising; target date

</em>Loan amount cited alongside equity but not part of direct VC/investor fundraising
†Planned closing date; actual closure/status may vary

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Exit Status

As of April 24th 2025:

• No IPO filings or public offerings.
• No M&A activity reported.

Peili Vision continues independently with an emphasis on scaling operations through fresh capital injection via its planned Series A round.

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Sources

• Peili Vision raises €300K seed round from Nordic XR Startups Oy
• Dealroom.co – Peili Vision company information
• Techleap Finder – Peili Vision funding details
• InvestNY – Peili Vision investor information

Other sources supporting sector context:

No evidence found regarding IPOs/buyouts/acquisitions pertaining to Peili Vision up to current reporting.

3 The Press Releases

Overview of Peili Vision Oy

Peili Vision Oy, based in Finland, has been a recipient of the EIC Accelerator funding. The company submitted its proposal on March 23, 2022, and later won in the Step 3 interview. Since then, Peili Vision has continued to innovate in the field of health technology, focusing on neurological rehabilitation and ADHD diagnostics.

Technology and Innovations

Peili Vision is recognized for its innovative use of virtual reality (VR) in rehabilitation therapy. The company has developed a rehabilitation platform that combines VR technology, data, and gamification, primarily used in neurological rehabilitation for conditions like stroke, ADHD, and autism. This platform supports patients in their recovery processes, enabling them to undergo rehabilitation from home, which is particularly beneficial for those in remote areas.

One of its key tools is the EFSim simulation test, a scientifically validated, web-based tool that measures attention, impulsivity, executive function, and prospective memory. This test is designed to support decision-making, enable earlier interventions, reduce lengthy waiting lines, and minimize unnecessary referrals.

Partnerships and Pilots

Peili Vision has partnered with various entities to pilot its solutions. For instance, the company has worked with the University of Oulu and the Oulu WelfareLab to test its VR-based speech therapy solution for post-stroke patients. In the UK, Peili Vision's ADHD detection tool is being piloted in Yorkshire schools, focusing on early intervention and tailored support for students with ADHD.

Press Releases and Blog Posts

Peili Vision maintains a blog where it shares insights into its work and innovations. While specific press releases are not mentioned on their website, they have been featured in various external platforms discussing their advancements in ADHD detection and neurological rehabilitation.

Team and Funding

Since receiving the EIC Accelerator funding, Peili Vision has continued to focus on expanding its technology and services. The company has a small but dedicated team and is part of the Nordic XR Startups accelerator program, which supports its growth in the VR rehabilitation market.

Sources

• Peili Vision Blog
• EFSim Blog
• Peili Vision Website
• Peili Vision Helps Post-Stroke Patients Regain Speech Through Virtual Reality
• NXS Batch of 2020: Peili Vision
• Peili Vision's ADHD Detection Tool to be Piloted in Yorkshire Schools
• New ADHD Detection Tool to be Piloted in Leeds Schools
• Peili Vision

4 The Technology Advancements

Peili Vision Oy: Post-EIC Accelerator Funding Progress

Since securing EIC Accelerator funding in March 2022, Peili Vision has expanded its neurocognitive assessment technologies and market presence. Below is an overview of their advancements, technological developments, and market activities based on publicly available information.

Core Technology and Improvements

The company’s flagship product, EFSim, remains central to its operations. This web-based simulation assesses executive functions such as attention, impulsivity, and prospective memory through gamified tasks simulating real-life environments. While direct updates to the technology post-2022 are not explicitly detailed in public records, the tool has demonstrated 88% accuracy in early ADHD detection, suggesting continued refinement in diagnostic precision. The ability to administer EFSim remotely—via GP-shared links for home use—highlights its scalability.

Market Demonstrations and Pilots

Peili Vision has actively deployed EFSim in educational and clinical settings:

• Yorkshire School Pilot (2024): A £99k Innovate UK-funded pilot launched in Leeds schools uses EFSim to evaluate ADHD-linked executive dysfunction in students. The test simulates household tasks (e.g., remembering instructions) to identify support needs.
• UK Expansion: Following its 2023 entry into the UK market, additional pilots are planned for London schools. Finnish pilots involving over 100 schools and 10k students indicate a robust validation framework.
• Clinical Collaboration: A pilot study using Peili’s VR technology for stroke-related visual neglect assessment was conducted with integrated eye tracking via Pico Neo headsets, though this appears separate from EFSim’s primary ADHD focus.

Intellectual Property and Research Outputs

No new patents or peer-reviewed studies explicitly linked to post-2022 developments were identified. However:

• The EIC Accelerator project (VR4NEURO) aimed at building a “digital hospital” for neurological challenges suggests ongoing R&D into VR-based therapeutic environments.
• Earlier collaborations with academic institutions (e.g., University of Leeds) imply continued scientific validation efforts.

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Sources

• Peili Vision - Neurodiversity Solutions [EFSim details]
• Yorkshire Schools Pilot Announcement
• Kuopio Health Member Profile
• VR Neglect Study Collaboration
• EIC Accelerator Funding List

5 The Partnerships and Customers

Peili Vision Oy's Strategic Collaborations and Market Positioning Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2022, Peili Vision Oy has focused on advancing its neurocognitive assessment technology, particularly the EFSim tool, which streamlines ADHD diagnostics through web-based simulation testing. While explicit customer names remain undisclosed in public records, the company’s partnerships and market activities reveal strategic positioning efforts.

Key Partnerships and Collaborative Efforts

• Academic Alliances: Peili Vision emphasizes collaborations with leading universities to validate its EFSim tool, leveraging academic expertise to refine its simulation algorithms and ensure scientific rigor. These partnerships likely enhance credibility and support peer-reviewed validation processes.
• Industry Engagement: Participation at major healthcare conferences like GIANT Health 2023–2024 (as an exhibitor) and NLSDays 2023 highlights BDR (Business Development Representative) outreach to pharma stakeholders. Such events facilitate networking with potential partners in clinical research and digital health sectors.
• Technology Integration: While direct client names are unspecified, EFSim’s design for healthcare providers suggests adoption by clinics or hospitals aiming to reduce diagnostic wait times.

Market Positioning via Relationships

Partnerships with academic institutions bolster Peili Vision’s reputation as a research-driven innovator in neurodiversity diagnostics. Conference participation positions the company within global healthtech ecosystems, signaling readiness for scaling through:

• Resource Optimization: Collaboration-driven R&D reduces internal costs while accelerating product iterations.
• Trust Building: Academic endorsements mitigate adoption barriers among healthcare providers skeptical of digital diagnostic tools.

Technology Advancements & Scaling Pathways

The EFSim platform’s web-based architecture inherently supports scalability across geographies. Strategic relationships could accelerate:

• Regulatory Compliance: Partnerships may aid navigation of medical device certifications (e.g., EU MDR).
• AI Enhancements: Data-sharing agreements with clinical partners could improve machine learning models underlying EFSim’s simulations.

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Sources

6 The Hiring and Company Growth

Peili Vision Oy: Team Growth and Development

Overview

Peili Vision Oy, a Finnish health technology company based in Oulu, has been making significant strides since receiving the EIC Accelerator funding in March 2022. Founded in 2015 by Jussi Auvinen and Joonas Pöllä, the company focuses on developing virtual reality (VR) solutions for the diagnosis and rehabilitation of neurodiverse conditions, such as ADHD.

Hiring and Team Growth

Following the EIC Accelerator funding, Peili Vision has been expanding its operations to scale up its VR-based diagnostics and rehabilitation platforms. The company received a €2.5 million grant, which has enabled them to test their solutions for an additional 30,000 students and expand into new countries. This expansion has necessitated hiring more personnel, although specific details on current headcount or team size are not publicly available.

Current Hiring Status

While there is no explicit information on whether Peili Vision is currently hiring, the expansion plans and grant funding suggest that they are likely recruiting to support their growth goals. The funding will also facilitate additional recruitments to aid in product development and international expansion.

Key Positions and Recent Hires

There is no specific information available on recent key hires or new team members. However, the company's focus on early detection of ADHD symptoms through VR technology implies that they may be looking for professionals with expertise in VR development, neuroscience, and pediatric psychology.

Impact on Company Growth

New team members will play a crucial role in helping Peili Vision scale its operations, particularly in developing and deploying its VR-based diagnostic tools on a larger scale. This expansion will enhance the company's capacity to reach more children and provide early intervention for ADHD, aligning with their mission to redefine neurodiversity diagnostics.

Management Changes

There are no reported changes in the founding team or major management shifts since the company received the EIC Accelerator funding. Jussi Auvinen continues to lead the company as CEO, with a focus on strategic growth and internationalization.

Future Prospects

The EIC Accelerator funding has positioned Peili Vision for significant growth, enabling them to strengthen their product offerings and expand their market presence. As they continue to develop innovative VR solutions for neurodiverse conditions, their team growth will be critical to achieving these ambitious goals.

Sources

• Peili Vision company information, funding & investors
• Peili Vision company information, funding & investors
• Peili Vision - Redefine neurodiversity, from diagnosis to
• Virtual reality tasks with eye tracking for mild spatial neglect
• Health & Life Sciences Study Finland 2023
• CapMan Mentors company Peili Vision makes ADHD diagnostics accessible and fun

7 The Media Features and Publications

Peili Vision Oy: A Leader in Neurodiversity Solutions

Overview

Peili Vision Oy is a Finnish health technology company based in Oulu, dedicated to developing innovative virtual reality (VR) solutions for diagnosing and managing neurological challenges, particularly attention deficit hyperactivity disorder (ADHD). The company was founded in 2015 by Jussi Auvinen and Joonas Pöllä, with a focus on utilizing VR to make diagnostics and rehabilitation more accessible and engaging.

Media Features and Publications

Peili Vision has been featured in several publications for its groundbreaking work in using VR to assess ADHD symptoms in children. Notably, a virtual reality game called EPELI (Executive Performance in Everyday Living) has been developed to simulate everyday situations, which helps in measuring attention in normal conditions. This game has been highlighted for its potential to detect ADHD symptoms more objectively compared to traditional methods.

Content from Publications

Publications emphasize Peili Vision's innovative approach to ADHD diagnostics, highlighting the use of VR to create immersive, game-like environments that simulate everyday tasks. These environments help in assessing how well children can focus and execute tasks despite distractions, providing valuable insights into ADHD symptoms.

Podcasts and Interviews

There is limited information available on specific podcasts or interviews conducted by the team of Peili Vision Oy. However, the company's involvement in health technology and innovation has likely attracted attention in various health and tech-focused media channels.

Conference and Fair Visits

While specific details on conference participations are not widely documented, Peili Vision's work in health technology suggests potential involvement in events like Labquality Days, which focuses on quality in laboratory medicine and health technology. Additionally, Peili Vision's participation in the Web Summit highlights its role in transforming ADHD diagnostics with innovative VR solutions.

Involvement in Events

Peili Vision has been recognized for its achievements, including receiving a €2.5 million grant from the European Innovation Council (EIC) to expand its VR-based ADHD screening to more schools and countries. This funding supports the company's mission to make ADHD diagnostics more accessible and efficient.

EIC Accelerator Funding

Peili Vision Oy secured the EIC Accelerator funding on March 23, 2022. This funding is crucial for the company's expansion plans, including testing its solutions with 30,000 more students and expanding into new markets.

Sources

• Peili Vision - Redefine neurodiversity, from diagnosis to...
• CapMan Mentors company Peili Vision makes ADHD diagnostics accessible and fun
• Virtual reality game can assess children's ADHD symptoms
• Peili Vision Oy - Web Summit
• Virtual reality game to objectively detect ADHD | Aalto University
• Virtual reality game can assess children's ADHD symptoms - Helsinki.fi