1 The EIC Accelerator Project
EIC Accelerator Program: An Overview
The EIC Accelerator program is a crucial funding initiative under the European Innovation Council (EIC), designed to support startups and small to medium-sized enterprises (SMEs) engaged in innovative projects with significant growth potential. The program primarily aims to promote DeepTech innovations in Europe by providing a unique blend of financial support and strategic guidance to foster the development and scaling of cutting-edge technologies.
Funding Structure
The EIC Accelerator offers a blended finance model that combines grants and equity investments. The grant component can reach up to €2.5 million, aimed at financing the early stages of project development, including research, prototyping, and initial market entry.
In addition to the grant, the equity financing can amount to up to €15 million until 2024 and subsequently up to €10 million from 2025 onwards. This equity investment is designed to support further scaling efforts, allowing companies to leverage additional private sector funding. The dual funding approach not only helps mitigate financial risk but also catalyzes investor confidence, making it easier for innovative companies to attract further investments.
Purpose in the Ecosystem
The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by providing essential resources to companies that may struggle to secure funding through traditional avenues. By focusing on high-risk, high-reward innovations, the program encourages groundbreaking research and development that can lead to transformative advancements across various sectors.
This initiative also aims to bridge the gap between innovative ideas and market realization, helping companies overcome the common barriers of scaling, such as securing adequate funding, navigating regulatory landscapes, and accessing markets. Consequently, the EIC Accelerator enhances the overall competitiveness of the European innovation landscape.
Support for Companies
The EIC Accelerator not only provides financial aid but also offers comprehensive support for strategic planning, market entry, and scaling operations. Selected companies benefit from mentorship, networking opportunities, and access to a community of like-minded entrepreneurs and industry experts. This holistic approach ensures that startups are not only funded but also equipped with the tools and knowledge necessary to succeed in a competitive environment.
Case Study: Sarus Technologies and the PrivacyForDataAI Project
Company Overview: Sarus Technologies, a French startup, focuses on creating innovative privacy solutions to address the challenges of data security in research and artificial intelligence (AI) workflows.
Project Acronym: PrivacyForDataAI
Project Description: The PrivacyForDataAI initiative aims to develop a robust privacy layer that facilitates secure and compliant research and AI workflows. By enabling organizations to utilize sensitive data without compromising privacy, Sarus Technologies seeks to empower researchers and AI developers with the ability to conduct meaningful analyses while adhering to stringent data protection regulations.
Technology Basics: The technology behind PrivacyForDataAI focuses on advanced cryptographic techniques and privacy-preserving algorithms. This includes methods such as differential privacy, federated learning, and homomorphic encryption, which allow data to be processed in a manner that protects individual privacy while still yielding valuable insights.
The core concept revolves around creating a secure environment where data can be utilized for AI model training and research without exposing sensitive information. This is particularly relevant in sectors such as healthcare, finance, and social sciences, where data privacy is paramount.
By leveraging such technologies, Sarus Technologies aims to address the growing demand for privacy-centric solutions amid increasing regulatory scrutiny and rising public concerns about data security.
Funding and Milestones: Sarus Technologies submitted its Step 2 proposal for the EIC Accelerator on June 21, 2023, and successfully advanced to the Step 3 interview stage. The blended finance model provided by the EIC Accelerator will enable Sarus Technologies to scale its operations, enhance product development, and expand its market reach, thereby reinforcing its position as a leader in privacy solutions for research and AI applications.
In conclusion, the EIC Accelerator serves as a vital catalyst for innovative companies like Sarus Technologies, helping them navigate the complexities of scaling and funding while contributing to the broader European innovation ecosystem.
2 The Funding Rounds
# Sarus Technologies: Funding and Financial OverviewSarus Technologies, a French deep-tech startup specializing in privacy-preserving data solutions, received significant recognition and funding from the European Innovation Council (EIC) Accelerator program in June 2023. This article provides a comprehensive overview of the company's funding history, investment rounds, and financial status.
EIC Accelerator Funding
In June 2023, Sarus Technologies was selected as one of 47 European startups to receive funding through the EIC Accelerator program. This highly competitive funding initiative supports innovative startups with the potential to disrupt existing markets.
The company was awarded €2.1 million (approximately $2.3 million) as part of the blended finance option, which was the most common financing type in that funding round, representing 68% of the awarded companies. This funding came directly from the European Innovation Council, marking a significant milestone for Sarus Technologies in its growth journey.
Funding History
Based on the available information, Sarus Technologies has gone through at least one formal funding round:
The total funding raised by Sarus Technologies to date appears to be approximately $2.3-2.67 million according to different sources. However, there are indications of earlier investment activities, though specific details about these earlier rounds are limited in the search results.
Investor Information
The primary identified investor in Sarus Technologies is:
The EIC Accelerator is a funding program under Horizon Europe that offers support to startups and SMEs in the form of grants and investments to bring innovative technologies to market.
Company Valuation and Exit Events
The search results do not provide specific information about Sarus Technologies' current valuation. Additionally, there is no information regarding exit events such as IPOs, buyouts, or acquisitions involving the company.
Business Focus and Technology
Sarus Technologies offers enterprises a solution to leverage sensitive data while maintaining privacy and security. Their technology enables:
The EIC funding is being directed toward developing:
- Backbone infrastructure and data portal capabilities
- Extended support for analytics and AI tools
- Expanded API functionality to support various data processing jobs
This funding represents a significant endorsement of Sarus Technologies' innovative approach to data privacy and security, positioning the company for continued growth in this rapidly evolving sector.
Sources: - Sarus is Cofunded by the European Union EIC Accelerator
- EIC Accelerator winners and statistics June 2023
- Sarus company information, funding & investors | Dealroom.co
- Sarus Technologies Company Information - Funding, Investors
- EIC 2023 work programme - European Innovation Council
3 The Press Releases
Sarus Technologies: EIC Accelerator Funding and Technological Advancements Sarus Technologies, a French deep-tech startup, secured funding from the European Innovation Council (EIC) Accelerator program in June 2023 to advance its privacy-preserving data solutions. The company focuses on enabling enterprises to utilize sensitive data for AI and analytics without compromising privacy through differential privacy and synthetic data generation[^sarus].Key Developments Post-Funding:
- Backbone Infrastructure: Sarus planned enhancements to its core infrastructure, including a data portal capable of handling diverse datasets while maintaining privacy compliance. This includes generating synthetic data and tracking user-level information across original or derived datasets[^sarus].
- Privacy-Preserving Analytics & AI: The company expanded its API support for SQL, Python, and other tools to ensure compatibility with its privacy framework, aiming to streamline secure data processing workflows[^saris_tech].
While specific press releases or blog posts from sarus.tech are not available in the provided sources, the company’s announcement highlights its focus on scaling technology for high-performance computing (HPC) and cloud industries post-funding[^saris_tech]. No recent updates on partnerships, patents, or team expansions were identified within the indexed materials.
Sources
Sarus is Cofunded by the European Union EIC Accelerator
EIC Accelerator winners June 2023
4 The Technology Advancements
Sarus Technologies: Advancements and Developments
Sarus Technologies, a French deep-tech startup, focuses on providing a privacy layer for analytics and AI, enabling data scientists and analysts to work on data without ever seeing it. Since receiving funding from the European Innovation Council (EIC) Accelerator, Sarus has continued to enhance its technology, leveraging differential privacy and synthetic data to ensure secure data processing.
Current Capabilities
- Privacy-by-Design Approach: Sarus employs differential privacy to protect sensitive data, ensuring all interactions with data are secure and compliant with privacy standards. This approach makes traditional anonymization methods less relevant, saving time in compliance and data engineering while preserving data value.
- Synthetic Data Generation: The company uses generative AI models to create synthetic data, allowing seamless work on data that cannot be accessed directly. This ensures privacy while maintaining the utility of the data for analytics and AI applications.
- Deployment Flexibility: Sarus can be deployed on-premises or in public clouds using Docker or Kubernetes, offering flexibility and scalability for various data infrastructures.
Advancements Since EIC Funding
Following the EIC funding, Sarus focused on developing its backbone infrastructure and data portal. Key advancements include:
- Enhanced Data Handling: The ability to handle new varieties of data assets and processing jobs, with a focus on synthetic data generation and user-level information tracking.
- Expanded API Support: The company extended its API to support a broader range of analytics and AI tools, making data processing jobs compatible with its privacy-preserving framework.
Market Demonstration and Research
While specific details on customer demonstrators, pilots, or clinical trials are not available, Sarus aims to integrate its technology into various data infrastructures, ensuring seamless and secure data processing for analytics and AI applications. The EIC funding has been instrumental in scaling up these innovations and expanding their market impact.
Patents, Studies, and Whitepapers
There is no publicly available information on new patents filed or scientific studies published by Sarus Technologies since receiving the EIC funding. However, their involvement in privacy research and AI applications suggests ongoing contributions to these fields.
Conclusion
Sarus Technologies continues to innovate in the field of data privacy, leveraging funding from the EIC Accelerator to enhance its technology and expand its capabilities. With a focus on differential privacy and synthetic data, Sarus is well-positioned to meet the evolving needs of secure data analytics and AI applications.
Sources
- Sarus - The Privacy Layer for Analytics & AI
- Sarus: Use personal data for analytics and ML, safely and seamlessly
- EIC selects Sarus for funding through its prestigious Accelerator ...
5 The Partnerships and Customers
Sarus Technologies Overview
Sarus Technologies, based in France, is a prominent player in the data privacy sector. The company enables data scientists and analysts to work on data without seeing it, ensuring maximal security and streamlined compliance. This capability is achieved through the use of differential privacy and synthetic data generated by AI models, allowing for seamless and privacy-safe data processing.
Partnerships and Customers
Sarus Technologies has partnered with several notable entities. Its customers include Societe Generale and Air Liquide Healthcare. While specific new partners or customers since receiving the EIC Accelerator funding are not detailed in available sources, Sarus Technologies' approach to data privacy positions it well for collaborations requiring stringent data protection.
Nature and Purpose of Relationships
The relationships established by Sarus Technologies are focused on leveraging its privacy-enhancing technologies to empower organizations in various sectors, particularly healthcare and finance, to utilize sensitive data securely. These partnerships aim to unlock the full potential of data while maintaining the highest standards of privacy and security.
Positioning in the Market
By offering solutions that allow data to be processed without compromising privacy, Sarus Technologies is well-positioned to serve industries where data privacy is paramount. This unique capability enables the company to differentiate itself in the market, especially in cloud-based data processing and healthcare data management.
Technology Advancements and Scaling
The EIC Accelerator funding is expected to enhance Sarus Technologies' ability to scale its operations and further develop its privacy-enhancing technologies. This funding supports the company's mission to empower organizations to harness data potential without privacy compromises. The advancements in differential privacy and AI-driven synthetic data generation will likely drive innovation in secure data analytics, facilitating wider adoption across industries.
Sources
- Sarus Technologies
- Company - Sarus Technologies
- Sarus Technologies - Products, Competitors, Financials, Employees
6 The Hiring and Company Growth
Sarus Technologies Overview
Sarus Technologies, a French company, specializes in using personal data for analytics and machine learning while ensuring privacy through differential privacy methods. This allows data scientists and analysts to work on data without ever seeing it, streamlining compliance and maximizing security.
Current Team Size and Hiring Status
As of the latest available data, Sarus Technologies had a team size of 16 members. However, there is no current information available on whether they are actively hiring new members. The company was acquired, which might influence its hiring activities and team growth.
Growth and Scaling
Since its founding in 2020, Sarus Technologies has achieved significant milestones, including raising over €3 million and publishing innovative approaches to privacy-preserving AI. Winning the EIC Accelerator funding in June 2023 likely enhanced its ability to scale and grow by supporting its technological advancements and market expansion.
New Team Members and Future Impact
New team members, especially those with expertise in privacy-preserving technologies, could significantly contribute to Sarus's mission to make data analytics safer and more efficient. These additions would help the company expand its services and client base, particularly in sectors like healthcare and finance, where privacy is paramount. They would also play a crucial role in implementing the latest research in differential privacy, ensuring that data analysis does not compromise privacy standards.
Management and Founding Team
Sarus Technologies was founded by Maxime Agostini, Nicolas Grislain, and Vincent Lepage. There is no recent information available on any major changes in the management or founding team since the company was acquired.
Conclusion
Sarus Technologies is poised for further growth and innovation with its focus on privacy-preserving analytics and recent EIC Accelerator funding. While specific details about new hires and team changes are not available, the company's emphasis on privacy and AI capabilities positions it well for future success in the data analytics sector.
Sources
7 The Media Features and Publications
Sarus Technologies: Media and Public Engagement Since EIC Accelerator Funding Following its June 2023 EIC Accelerator win, Sarus Technologies has focused on scaling its privacy-preserving data solutions, though specific media features, podcasts, or event participations remain less publicly documented. Below is a synthesis of available information:Media Coverage and Publications
While direct mentions in third-party publications are sparse based on available data, Sarus’ own announcements highlight its mission and technological advancements:- EIC Accelerator Announcement: The company prominently shared its funding success through its website, emphasizing plans to expand infrastructure for synthetic data generation and privacy-safe analytics.
- Company Profile: Dealflow.eu and Dealroom.co list Sarus as a privacy-focused AI/analytics provider but do not include independent media coverage.
Podcasts and Interviews
No verified podcasts or interviews featuring Sarus' team were identified in the search results. However:Conferences and Events
The search results do not specify conferences or fairs where Sarus presented post-EIC funding. Notably:Public Engagement Strategy
Sarus appears to prioritize direct communication via its website for updates rather than third-party media partnerships. Its recent focus areas include enhancing synthetic data tools and broadening API support for privacy-compliant workflows.Sources
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