1 The EIC Accelerator Project
The EIC Accelerator Program: A Comprehensive Overview
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in Europe, particularly those engaged in innovative and high-risk projects. This initiative is aimed at fostering the growth of breakthrough technologies and innovative solutions that have the potential to drive economic growth and create jobs within the European Union (EU).
Funding Structure of the EIC Accelerator
The EIC Accelerator offers a unique funding structure that combines grants and equity investments to support innovative projects. The program provides grants of up to €2.5 million, intended to support the development of innovative solutions at various stages, from research and development to market entry. This grant funding is primarily aimed at covering the costs associated with technology development, demonstration, and testing.
In addition to the grant, the EIC Accelerator also offers equity funding, which can be critical for scaling operations. Until 2024, the program provides equity financing of up to €15 million, which will be reduced to a maximum of €10 million starting in 2025. This equity funding is designed to help successful applicants secure the necessary capital to scale their business operations and reach the market more effectively.
Purpose of the EIC Accelerator in the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a pivotal role in enhancing the European DeepTech and startup ecosystem. Its primary purpose is to identify and support high-potential innovations that can transform industries, contribute to a sustainable future, and maintain Europe's competitiveness on the global stage. By providing financial support and resources, the EIC Accelerator fosters an environment conducive to innovation and entrepreneurship.
The program particularly emphasizes the importance of deep technology, which refers to innovations that are based on substantial scientific or engineering advancements. These technologies often require significant investment and a longer timeline to reach market readiness, making traditional funding avenues challenging. The EIC Accelerator fills this gap by providing tailored financial solutions and mentorship to ensure that these innovations can flourish.
Role of the EIC Accelerator in Scaling Companies
The EIC Accelerator not only provides funding but also acts as a catalyst for companies to scale their operations effectively. By offering equity investments, the program encourages private-sector investors to come on board, thereby increasing the overall funding pool available to these companies. This is crucial, as many innovative startups struggle to attract private investment due to perceived risks associated with their technologies.
Furthermore, the EIC Accelerator provides access to a broad network of investors, mentors, and industry experts, thereby enhancing the chances of successful market entry. This support is invaluable for companies looking to navigate the complexities of scaling their operations, reaching customers, and establishing a sustainable business model.
Case Study: Seqana and Their Satellite-Based SaaS Solution
Company Overview
Seqana, a prominent winner of the EIC Accelerator, is a German company that focuses on innovative satellite-based solutions. Their project, aptly named Seqana, represents a groundbreaking Software as a Service (SaaS) offering aimed at transforming how satellite data is utilized in various sectors.
Project Description
The Seqana project is centered around developing a sophisticated satellite-based SaaS platform that leverages advanced algorithms and data analytics to provide users with actionable insights derived from satellite imagery. This innovative approach enables businesses and governments to make informed decisions based on real-time data, addressing challenges in areas such as environmental monitoring, agriculture, urban planning, and disaster response.
Funding Type
Seqana received initial funding through the EIC Accelerator's grant mechanism, which was crucial for the early stages of technology development and market validation. The grant allows the company to focus on refining their technology without the immediate pressures of revenue generation.
Technology Background
The underlying technology of Seqana is rooted in advanced satellite imaging and data analytics. The platform utilizes high-resolution satellite data and integrates machine learning algorithms to process and analyze vast amounts of information. This capability allows for real-time monitoring and analysis of various environmental factors, providing users with a powerful tool to address complex challenges.
The technology is designed to be user-friendly, enabling non-experts to access and interpret satellite data easily. By offering a SaaS solution, Seqana enhances accessibility and scalability, allowing organizations of various sizes to leverage satellite data without the need for extensive technical expertise or infrastructure.
Conclusion
The EIC Accelerator program serves as a vital resource in the European startup ecosystem, particularly for companies like Seqana that are harnessing the power of innovative technologies. By providing targeted funding and strategic support, the program not only helps companies develop their products but also facilitates their growth and integration into the market, ultimately contributing to the advancement of DeepTech in Europe and beyond. Through initiatives like Seqana, the EIC Accelerator exemplifies its commitment to fostering innovation and driving economic growth in the EU.
2 The Funding Rounds
Seqana, a Berlin-based climate tech startup specializing in satellite-enabled soil carbon monitoring, has secured significant funding since receiving the EIC Accelerator grant on June 16, 2021. On May 30, 2024, the company closed a €2.1 million seed funding round, led by High-Tech Gründerfonds (HTGF) and Counteract, with participation from existing investor ReGen Ventures. (htgf.de) Notable angel investors in this round included Axel Stepken, former CEO of TÜV SÜD; Stefan Gross-Selbeck, co-founder and former MD at BCG Digital Ventures; Klaus Kunz, former VP and Head of ESG at Bayer; and Ben-Elias Brandt, COO at Ledgy. (htgf.de)The funding is intended to accelerate Seqana's growth and refine its soil carbon measurement algorithm, enhancing the scalability and cost-effectiveness of carbon farming practices. (htgf.de) Prior to this, Seqana received an EIC Accelerator grant of €2.93 million on June 16, 2021, to support its mission in carbon removal projects. (pitchbook.com)
As of April 2025, there are no publicly available records of additional funding rounds or company valuations beyond the €2.1 million seed funding in May 2024. The company's website, seqana.com, provides further information on their services and recent developments.
3 The Press Releases
Sequana Medical NV, a pioneer in treating fluid overload in liver disease, heart failure, and cancer, has made significant strides since receiving the EIC Accelerator funding on June 16, 2021. The company has published several press releases detailing advancements in its alfapump® system and DSR® therapy, as well as corporate developments.Alfapump® System Developments
In October 2023, Sequana Medical announced positive data from the POSEIDON study, highlighting the alfapump's sustained efficacy in controlling ascites at 12 months post-implantation. The device virtually eliminated the need for therapeutic paracentesis, significantly improving patients' quality of life. Additionally, a patient preference study indicated a strong preference among U.S. patients for the alfapump over standard paracentesis procedures. The company also reported a positive pre-PMA meeting with the FDA, aligning on clinical data and benefit-risk analysis for the PMA submission package, which was on track for year-end submission. (dev.sequanamedical.com)
In May 2024, Sequana Medical reported a positive outcome from the FDA's "Day 100" meeting regarding the PMA application for the alfapump. The FDA confirmed the completion of the substantive review, with no further new questions on clinical or pre-clinical data, unless related to the company's response to the "Day 90" letter. The FDA had a number of non-clinical questions that required additional work, with the company anticipating submitting this information by the end of September 2024. FDA marketing approval was now anticipated in Q1 2025, with the U.S. commercial launch planned for H2 2025. (globenewswire.com)
In November 2024, Sequana Medical presented new 24-month data from the POSEIDON study at the AASLD The Liver Meeting in San Diego. The data demonstrated that the alfapump system was highly effective in controlling ascites, virtually eliminating the need for large volume paracentesis long-term. The overall survival rate at 24 months in the pivotal cohort was 62%. The company also reported positive ongoing interactions with the FDA, with PMA approval expected before the end of Q1 2025. (globenewswire.com)
In December 2024, Sequana Medical announced that the FDA had granted Premarket Approval (PMA) for the alfapump system for the treatment of recurrent or refractory ascites due to liver cirrhosis in the United States. This milestone made the alfapump the first active implantable medical device in the U.S. to automatically and continuously remove ascites from the abdomen into the bladder. The company estimated a market opportunity exceeding $2 billion in 2025, with a U.S. commercial launch planned for H2 2025. (fox16.com)
DSR® Therapy Advancements
In April 2024, Sequana Medical announced the publication of results from the RED DESERT and SAHARA proof-of-concept studies in the European Journal of Heart Failure. The studies highlighted DSR as a potential novel treatment for diuretic resistance and cardiorenal syndrome in heart failure patients. The company also reported positive data from the non-randomized cohort in the U.S. MOJAVE study, with the Data and Safety Monitoring Board approving the start of the randomized cohort. (biospace.com)
Corporate Developments
In December 2024, Sequana Medical announced the results of an Extraordinary General Meeting of Shareholders, where the proposed resolution related to the issuance of new Kreos Subscription Rights and the cancellation of outstanding Kreos Subscription Rights was approved. The company also updated on the Convertible Bridge Loan, with several existing investors committing to an additional aggregate investment of €0.55 million, increasing the total principal amount under the loan to €7.65 million. (globenewswire.com)
In March 2025, Sequana Medical reported its financial results for the year ended December 31, 2024, and provided a business update and outlook for 2025. The company highlighted the U.S. FDA approval of the alfapump system, the publication of RED DESERT and SAHARA data supporting DSR as a potential treatment for cardiorenal syndrome, and a total cash position of €3.8 million at the end of 2024, with a cash runway into Q1 2025. A financing package was announced to extend the cash runway to the end of 2025. (biospace.com)
These developments underscore Sequana Medical's commitment to advancing innovative treatments for fluid overload and related conditions, marking significant progress since receiving the EIC Accelerator funding in June 2021.
4 The Technology Advancements
Seqana, a Berlin-based climate technology startup, specializes in enhancing the monitoring, reporting, and verification (MRV) of soil carbon through machine learning and satellite-enabled technology. This innovation facilitates large-scale carbon removal via soil carbon, supporting carbon offset demands and the transition towards regenerative agriculture. Seqana's MRV tools aim to make soil carbon measurement significantly more cost-effective and faster, promoting environmental stewardship among agrifood corporates, project developers, and farmers worldwide, while improving soil health with all its co-benefits. (htgf.de)Since receiving the EIC Accelerator funding on June 16, 2021, Seqana has made notable advancements. In May 2024, the company secured €2.1 million in seed funding led by High-Tech Gründerfonds (HTGF) and Counteract, with participation from existing investor ReGen Ventures. This funding is intended to accelerate Seqana's growth and refine its soil carbon measurement algorithm. (htgf.de)
Seqana has demonstrated its technology in the market by collaborating with global players such as South Pole, LoamBio, TASC, and Justdiggit. Additionally, the company is contracted by Gold Standard to develop rigorous, scalable, and affordable soil carbon measurement protocols. Seqana's CTO, Julian Kremers, has co-founded the International Soil Carbon Industry Alliance (ISCIA) to further contribute to the sector's development. (htgf.de)
Regarding intellectual property, there is no publicly available information indicating that Seqana has filed new patents or published new scientific studies, clinical trials, or whitepapers since receiving the EIC Accelerator funding.
5 The Partnerships and Customers
Since receiving EIC Accelerator funding on June 16, 2021, Seqana, a Berlin-based climate tech startup specializing in soil carbon monitoring, has achieved significant milestones in partnerships, customer acquisition, and technological advancements.New Partnerships and Customers
In May 2024, Seqana secured a €2.1 million seed funding round led by High-Tech Gründerfonds (HTGF) and Counteract, with additional support from ReGen Ventures. This funding aims to refine Seqana's soil carbon measurement algorithms, enhancing the scalability and efficiency of carbon farming practices. (htgf.de)
Seqana has also established collaborations with several global organizations, including South Pole, LoamBio, TASC, and Justdiggit. These partnerships focus on advancing carbon farming initiatives and promoting regenerative agriculture practices worldwide. (htgf.de)
Nature and Purpose of Relationships
The partnership with HTGF and Counteract is designed to provide financial resources and strategic guidance, enabling Seqana to enhance its technological capabilities in soil carbon measurement. Collaborations with South Pole, LoamBio, TASC, and Justdiggit aim to implement and scale carbon farming projects, leveraging Seqana's innovative monitoring tools to ensure accurate and cost-effective carbon sequestration.
Market Positioning
These strategic alliances position Seqana as a key player in the global carbon farming sector. By integrating advanced satellite-enabled monitoring solutions with established organizations, Seqana enhances its credibility and expands its reach, facilitating the adoption of regenerative agriculture practices across diverse markets.
Technological Advancements and Scaling
The recent funding and partnerships enable Seqana to accelerate the development of its monitoring, reporting, and verification (MRV) tools. By leveraging machine learning and satellite imagery, Seqana aims to make soil carbon measurement significantly more affordable and efficient, thereby supporting the scaling of carbon farming initiatives and contributing to global climate mitigation efforts. (htgf.de)
Through these strategic partnerships and technological advancements, Seqana is well-positioned to lead in the field of soil carbon monitoring, driving the adoption of sustainable agricultural practices and contributing to the global effort against climate change.
6 The Hiring and Company Growth
Seqana, a Berlin-based climate tech startup specializing in satellite-enabled soil carbon monitoring, has demonstrated significant growth and strategic development since receiving the European Innovation Council (EIC) Accelerator funding on June 16, 2021.Current Team Size and Hiring Status
As of 2024, Seqana employs 17 individuals. (pitchbook.com) The company has been actively expanding its team to support its growth initiatives. In May 2024, Seqana secured €2.1 million in seed funding, led by High-Tech Gründerfonds (HTGF) and Counteract, with participation from existing investor ReGen Ventures. (htgf.de) This funding is intended to accelerate growth and refine their soil carbon measurement algorithm. Additionally, in June 2024, Seqana was seeking to hire a People Operations Manager, indicating ongoing recruitment efforts. (de.jooble.org)
Growth and Key Hires
Since its inception in 2020, Seqana has experienced substantial growth. The €2.1 million seed funding in May 2024 is a testament to the company's progress and the confidence investors have in its mission. (htgf.de) The recruitment of a People Operations Manager in June 2024 highlights Seqana's commitment to building a strong organizational culture and supporting its expanding team. (de.jooble.org)
Impact of New Team Members
The addition of key personnel, such as the People Operations Manager, is expected to enhance Seqana's internal operations, foster a positive work environment, and support the company's scaling efforts. By strengthening its team, Seqana aims to improve its soil carbon measurement tools, thereby advancing its mission to promote regenerative agriculture and combat climate change.
Management and Founding Team
Seqana was founded in 2020 by CEO Stefan Gönner, COO Jakob Levin, and CTO Julian Kremers. (pitchbook.com) The recent hiring of a People Operations Manager suggests a strategic focus on organizational development and employee engagement, which are crucial for sustaining growth and innovation. (de.jooble.org)
In summary, since receiving the EIC Accelerator funding in June 2021, Seqana has made significant strides in team expansion, securing substantial funding, and enhancing its organizational structure to support its mission in climate action and regenerative agriculture.
7 The Media Features and Publications
Since receiving the EIC Accelerator funding on June 16, 2021, Seqana, a Berlin-based climate tech startup specializing in soil carbon monitoring, has been featured in various media outlets and has participated in several industry events.Media Features and Publications:
- June 3, 2024: Seqana secured €2.1 million in seed funding led by High-Tech Gründerfonds (HTGF) and Counteract, with participation from existing investor ReGen Ventures. This funding aims to refine Seqana's soil carbon measurement algorithm, enhancing the scalability of carbon farming projects globally. (finsmes.com)
- May 30, 2024: The company announced the first closing of its €2.1 million seed round, emphasizing its mission to unlock scalable carbon farming on six continents through satellite-enabled technology. (htgf.de)
- May 30, 2024: HTGF highlighted Seqana's innovative approach to reducing the costs of soil carbon measurement by up to 50%, thereby facilitating the widespread adoption of carbon farming practices. (htgf.de)
- May 30, 2024: NEON advised Seqana on its €2.1 million Series Seed financing round, supporting the company's efforts to scale carbon farming from space. (neon.law)
Podcasts and Interviews:
As of April 17, 2025, there are no publicly available records of podcasts or interviews featuring Seqana's team since June 16, 2021.
Conferences and Events:
Involvement in Events:
Beyond the aforementioned webinar, there is no publicly available information regarding Seqana's involvement in other events since June 16, 2021.
For more detailed information about Seqana's initiatives and updates, you can visit their official website at seqana.com.