1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a prominent funding initiative aimed at supporting innovative small and medium-sized enterprises (SMEs) and startups in Europe. It specifically targets deep-tech ventures, which are typically characterized by their reliance on significant scientific or technological advancements. The EIC Accelerator is designed to help these companies develop and scale their groundbreaking solutions, thereby bolstering Europe’s position in the global innovation landscape.

The funding under the EIC Accelerator is structured as blended finance, combining grant and equity investments. Companies can receive grants of up to €2.5 million, intended to cover a portion of the development costs for innovative projects. In addition, equity investments can reach up to €15 million until 2024 and will be capped at €10 million from 2025 onwards. This dual funding approach enables startups to secure necessary capital while minimizing the financial risks associated with technological development and market entry.

Purpose and Importance of the EIC Accelerator

The EIC Accelerator serves multiple purposes within the European DeepTech and startup ecosystem. Firstly, it aims to bridge the funding gap for innovative companies that often struggle to attract private investment due to the high risks associated with developing new technologies. By providing substantial financial support, the EIC Accelerator facilitates the transition from the idea stage to market-ready products, thus fostering innovation and competitiveness.

Secondly, the program acts as a catalyst for collaboration between public financing and private investment. The EIC Accelerator encourages companies to leverage its funding to attract additional investments from private sectors, thereby amplifying their financial backing. This strategy not only enhances the chances of success for individual projects but also contributes to the overall growth of the European economy by creating jobs and advancing technological development.

SIPEARL and the HELIOS Project

SIPEARL, a French company, emerged as a winner of the EIC Accelerator with its project titled HELIOS, which stands for Highly Efficient and Lightweight Input/output Open Silicon. The project was submitted on October 6, 2021, during the Step 2 proposal phase, and subsequently succeeded in the Step 3 interview, securing funding to propel its innovative technology.

Technology Basics and Background

The HELIOS project is focused on advancing input/output (I/O) technologies in semiconductor design. SIPEARL aims to create a novel open silicon architecture that enhances the efficiency and performance of data transfer in computing systems. This technology is particularly relevant in the context of the rapidly evolving data-centric landscape, where the demand for high-speed data processing and minimal latency is ever-increasing.

SIPEARL's approach involves leveraging open silicon designs, which allow for greater flexibility and customization compared to traditional semiconductor solutions. By focusing on lightweight and highly efficient architectures, the HELIOS project seeks to address the limitations of existing I/O technologies, which often struggle with energy consumption and performance scalability.

The innovative technology proposed by SIPEARL not only aims to improve the efficiency of data handling but also seeks to reduce the overall environmental impact of semiconductor manufacturing. By optimizing the design and production processes, HELIOS will contribute to sustainable development and support the growing demand for eco-friendly technology solutions.

In conclusion, the EIC Accelerator program plays a crucial role in nurturing innovative deep-tech enterprises like SIPEARL. By providing critical funding and facilitating collaboration with private investors, the program helps accelerate the development and scaling of groundbreaking technologies. The HELIOS project exemplifies the potential of the EIC Accelerator to transform the semiconductor landscape, offering significant advancements in efficiency and sustainability.

2 The Funding Rounds

SiPearl Overview

SiPearl, a French company, is a leading developer of microprocessors designed for high-performance computing (HPC) and exascale supercomputers in Europe. Founded in June 2019, it aims to enhance European technological sovereignty through energy-efficient and high-performance microprocessors.

Financing Raised

As of April 2023, SiPearl has raised significant funding to support its operations and product development. Its Series A funding round secured €90 million (approximately $98.3 million) in the initial closing, with additional investments expected by the end of 2023. This brings SiPearl's total financing to €110.5 million, including €20.5 million from European Union and French grants.

Funding Rounds

Timing and Amount of Funding Rounds

• 2019: Received €7.4 million from the European Union.
• April 2023: First closing of Series A raised €90 million.
• Later in 2023: Expected additional investments.
• Second Closing: Added €23 million.

Investor Information

SiPearl's investors include:

• Arm: A global leader in semiconductor design.
• Atos Group: Through its Eviden business unit.
• European Innovation Council (EIC) Fund: Contributed €15 million.
• French State: Via French Tech Souveraineté, part of France 2030.
• European Investment Bank (EIB): Provided up to €25 million in convertible debt.

Company Valuations

As of April 2023, Dealroom estimates SiPearl's enterprise valuation to be between $286 million and $429 million.

Exit Events

Currently, there are no announced plans for an initial public offering (IPO), buyout, or acquisition. However, accredited investors can purchase pre-IPO shares through platforms like EquityZen.

Conclusion

SiPearl is at the forefront of developing energy-efficient HPC microprocessors in Europe, supported by significant funding from key industry partners and public investors. The company's focus on technological sovereignty and environmental sustainability aligns with European initiatives like the EuroHPC Joint Undertaking.

Sources

• SiPearl Series A Funding
• EIB Press Release
• HPC Wire: SiPearl Raises $98.3M
• Dealroom: SiPearl Company Information
• SiPearl: Designing the European Microprocessor
• EquityZen: Invest in SiPearl Stock

3 The Press Releases

Since SiPearl won the EIC Accelerator funding in October 2021, the company has made significant strides in technology development, partnerships, organizational growth, and market positioning as a European leader in high-performance computing (HPC) microprocessors. Key highlights from their press releases and updates on sipearl.com include:

Technology Advancements and Product Developments

• Rhea1 Microprocessor: SiPearl unveiled Rhea1, its first-generation energy-efficient HPC microprocessor designed for supercomputing and AI workloads. This processor is targeted at powering Europe’s exascale supercomputers with a focus on performance combined with low power consumption.
• Built-in High Bandwidth Memory (HBM): In May 2024, SiPearl announced a partnership with Samsung Electronics to integrate Samsung’s advanced HBM technology into the Rhea series. This collaboration aims to enhance speed, energy efficiency, and thermal management critical for HPC and AI inference applications.
• Open Source Platform Contributions: Through involvement in projects like RISER and Higher (European initiatives), SiPearl contributes ARM-based processors integrated with RISC-V cores for embedded functions. They are developing system platforms that support cloud services while enhancing Europe’s strategic autonomy in semiconductors.

Strategic Partnerships

• Samsung Electronics: Partnership established to provide built-in HBM memory solutions within the Rhea microprocessor architecture to optimize performance for HPC/AI workloads.
• Hewlett Packard Enterprise (HPE): Since 2022, SiPearl has collaborated closely with HPE to develop an end-to-end supercomputing offering combining HPE's systems with SiPearl's ARM-based CPU. This partnership supports Europe's transition toward exascale computing while reinforcing digital sovereignty goals.
• European Processor Initiative Consortium: Working collaboratively with 27+ partners including scientific institutions and industry leaders under EPI umbrella to advance European microprocessor design targeting EuroHPC infrastructures.

Organizational Updates

• Appointment of key leadership roles:
• Gael Paul as Senior Vice President Engineering responsible for research & development programs as of March 2025.
• Christophe Ménard leading marketing efforts since June 2024.
• Ian Jenks appointed Chairman of Board of Directors in October 2023.
• Matteo Tonelli named Italy Country Manager coinciding with opening an international subsidiary in Bologna mid-2024.
• Cornelia overseeing legal compliance and financing rounds starting February 2024.

Market Positioning & Funding

SiPearl raised €90 million during Series A funding initial closing by April 2023 aimed at launching the Rhea product commercially. The company is focused on providing high-efficiency processors compatible with third-party accelerators such as GPUs or AI chips while addressing environmental impact concerns through energy efficiency innovations.

Role in European Exascale Supercomputing Initiatives

SiPearl plays a pivotal role supplying general-purpose processors fueling Europe’s first EuroHPC exascale supercomputer Jupiter announced November 2023 by European Processor Initiative partners. Their technologies are central to achieving competitive edge alongside enhanced security features without backdoors or vulnerabilities often linked to foreign-designed chips.

---

In summary, since receiving EIC Accelerator funding submission approval late 2021:

• SiPearl has launched its flagship HPC microprocessor product line "Rhea."
• Secured strategic partnerships notably with Samsung (memory integration) & Hewlett Packard Enterprise (supercomputing stack).
• Expanded its leadership team internationally supporting global scaling ambitions.
• Engaged extensively across EU-led semiconductor sovereignty projects such as EPI consortium beyond core R&D into ecosystem building around open-source cloud platforms.

This positions SiPearl strongly at the forefront of Europe’s ambitions toward autonomous exascale supercomputing capabilities powered by homegrown silicon innovations.

---

Sources

• SiPearl Press Relations
• SiPearl News
• EPI Press Release on Exascale Supercomputer Jupiter

‑ SiPearl Partnership With Samsung PDF

‑ Hewlett Packard Enterprise-SipearL partnership announcement

‑ Evertiq Article on Samsung Partnership

‑ RISER Project Contribution by SIPEARL

‑ EIB Press Release on €90M Funding Round April '23

4 The Technology Advancements

SiPearl: Current Capabilities and Advancements

SiPearl, a French company founded in 2019, is at the forefront of developing high-performance, low-power microprocessors for supercomputing and artificial intelligence applications. Since receiving the EIC Accelerator funding in October 2021, SiPearl has made significant advancements in technology, funding, and partnerships.

Current Capabilities

• Microprocessor Development: SiPearl's first-generation microprocessor, Rhea, is designed to equip European supercomputers with high computing power and energy efficiency. Rhea utilizes the ARM Neoverse V1 platform, which provides a robust software and hardware ecosystem.
• Manufacturing and Commercialization: SiPearl has outsourced the manufacturing of Rhea to TSMC, with commercialization expected in early 2024.
• Employment and Expansion: As of early 2023, SiPearl employed 130 people across France, Germany, and Spain, with plans to expand to over 1,000 employees by the end of 2025.

Advancements Since EIC Accelerator Funding

• Funding and Investment: Since the EIC funding, SiPearl has successfully raised €90 million in its initial Series A funding round and an additional €23 million in a second closing, bringing the total to €113 million. This funding involves investors like Arm, Atos Group, and the European Innovation Council (EIC) Fund.
• Partnerships and Collaborations: SiPearl has established strategic partnerships, including a collaboration with ESSEC to catalyze Deeptech innovation. The company is also part of the RISER project, contributing to the development of open-source designs for standardized system platforms.
• Technological Improvements: SiPearl's Rhea processor integrates ARM-based server processing with RISC-V cores for embedded functions, enhancing its capabilities for cloud and AI applications.

Market Demonstration and Technology Deployment

• JUPITER Exascale Supercomputer: SiPearl's Rhea1 processor will be used in the JUPITER exascale supercomputer, Europe's first, operated by Forschungszentrum Jülich. This marks a significant deployment of SiPearl's technology in a high-profile project.
• R&D Centers: SiPearl has established R&D centers in Barcelona and Bologna, enhancing its research capabilities and proximity to key European partners.

Patents and Scientific Publications

While specific new patents or scientific studies since the EIC funding are not detailed in the available sources, SiPearl's involvement in projects like the RISER initiative highlights its commitment to advancing European semiconductor technology and contributing to strategic autonomy in the market.

Conclusion

SiPearl has demonstrated substantial progress in developing and commercializing its high-performance microprocessors, with significant funding and strategic partnerships supporting its growth. The deployment of its technology in major European projects like the JUPITER exascale supercomputer underscores its role in enhancing Europe's technological sovereignty.

Sources: - Designing the European microprocessor - SiPearl

• Serie A - €90m - SiPearl
• France: SiPearl raises €90 million in initial closing of Series A
• European Processor Initiative - SiPearl
• A strategic SiPearl - ESSEC partnership to catalyse Deeptech innovation
• Press Kit - SiPearl
• The role of SiPearl's CPUs in the ARM ecosystem ... - RISER project
• SiPearl awarded a €17.5m funding from EIC Accelerator
• European Processor Initiative partner SiPearl will provide its general purpose processor for Europe's first EuroHPC exascale supercomputer JUPITER

5 The Partnerships and Customers

SiPearl's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

Since securing EIC Accelerator funding, SiPearl has solidified its role in advancing Europe’s high-performance computing (HPC) sovereignty through strategic collaborations and customer engagements. Below is a detailed overview of its partnerships, customers, and market trajectory:

Key Customers

JUPITER Exascale Supercomputer: Operated by Forschungszentrum Jülich, this €273 million EuroHPC JU infrastructure serves as SiPearl’s lead customer. The supercomputer will leverage SiPearl’s Rhea processor for exascale computing in medical research, AI, and climate modeling.

Strategic Partnerships

• Hewlett Packard Enterprise (HPE): A 2022 partnership integrates SiPearl’s Rhea CPU with HPE’s HPC solutions (e.g., Slingshot networking, Cray Programming Environment). Joint efforts focus on exascale-ready systems at HPE’s Grenoble Center of Excellence.
• NVIDIA: Collaboration to combine Rhea CPUs with NVIDIA accelerators and networking technologies. Includes joint development of proxy platforms for SVE workload analysis.
• Arm: A core investor in Series A funding rounds (€90M initial closing in 2023; €23M second closing). Arm provides architectural support for Rhea’s design.
• European Processor Initiative (EPI) Consortium: Collaborates with 27+ partners across academia and industry to refine processor designs for European sovereignty.
• RISER/Higher Projects: Develops open-source hardware standards using Rhea processors for cloud/edge services. Contributions include Seine platform integration and DC-SCM/HPM module development.

New Market Entrants & Expansions

• Italian R&D Center: Opened a facility in Bologna to collaborate with Cineca, the University of Bologna, and ECMWF on supercomputing innovations.
• ESSEC Business School Partnership (March 2024): Focuses on Deeptech ecosystem growth through joint educational programs linking engineering expertise with entrepreneurial training.

Market Positioning & Technological Impact

SiPearl is positioned as Europe’s primary provider of energy-efficient processors for sovereign exascale systems. Its partnerships enhance interoperability with industry-standard technologies (e.g., Arm architecture) while fostering local innovation hubs like Grenoble and Bologna. These relationships accelerate software/hardware co-design critical for AI inference workloads and climate simulations at reduced environmental footprints.

---

Sources

• Designing the European microprocessor - SiPearl
• PR_SiPearl_Jupiter-lead_customer_VDEF
• SiPearl Collaborates with NVIDIA
• HPE Partnership Announcement

6 The Hiring and Company Growth

SiPearl: Team Growth and Hiring Updates

SiPearl, a French company specializing in designing high-performance energy-efficient processors for supercomputing and artificial intelligence, has been actively expanding its team. Founded in June 2019, SiPearl received significant funding, including a recent Series A round of €90 million, to support its growth and ambitious projects.

Current Headcount and Growth

As of the latest reports, SiPearl employs about 130 people across locations in France, Germany, and Spain. The company aims to increase its workforce to over 1,000 employees by the end of 2025, marking significant growth from its initial ten engineers in June 2020.

Hiring and Recruitment

SiPearl is actively hiring, focusing on recruiting microelectronics and software engineers across its locations in France, Spain, Germany, and Italy. Recent job postings include roles such as AI Benchmark Engineer, indicating the company's emphasis on advanced technology positions.

Key Positions and Future Impact

Recent hires are focused on roles that support the development of SiPearl's microprocessors, such as Rhea, which is designed to power European supercomputers with a low environmental footprint. New team members are crucial for scaling and growing the company, enabling it to meet its ambitious goals in the high-performance computing (HPC) market. Their contributions will help drive technological independence and sovereignty in Europe.

Management and Founding Team

Philippe Notton, the CEO and founder of SiPearl, continues to lead the company's strategic growth. There are no major changes in management reported since the EIC Accelerator funding in October 2021.

Conclusion

SiPearl's team growth and hiring efforts are integral to achieving its mission of developing cutting-edge European processors. With significant funding and a strategic recruitment strategy, the company is poised to play a pivotal role in shaping Europe's future in high-performance computing.

Sources: - SiPearl Press Relations

• Serie A _ €90m - SiPearl
• France: SiPearl raises €90 million in initial closing of Series A
• Designing the European processor - SiPearl
• SiPearl : Team
• More than 100 employees - SiPearl
• AI Benchmark Engineer at SiPearl
• Money Changes Everything For SiPearl
• French Supercomputer Chip Designer SiPearl Secures €90 Million

7 The Media Features and Publications

Since receiving the EIC Accelerator funding in October 2021, SiPearl, a French company focused on high-performance energy-efficient processors for supercomputing and AI, has actively engaged with the media and participated in various industry events to promote its technology and vision.

Media Features and Publications

SiPearl has been featured extensively in press releases issued through its website since January 2020, highlighting key developments such as the unveiling of their first-generation product Rhea1 dedicated to HPC and AI. Notably, a May 2024 press release announced a significant partnership with Samsung Electronics to integrate advanced High-Bandwidth Memory (HBM) into SiPearl’s microprocessors, emphasizing performance gains for HPC and AI workloads.

Industry publications like HPCwire covered SiPearl’s participation at SC21 in December 2021. An interview with Craig Prunty from SiPearl discussed their role in developing European exascale technology along with partnerships involving Intel and Graphcore. Yole Group also detailed technical features of Rhea1 including built-in HBM stacks supporting DDR5 interfaces to accelerate AI inference workloads.

Podcasts or Interviews

SiPearl’s team members have appeared on media platforms such as HPCwire during major conferences. The SC21 interview is an example where Craig Prunty discussed company strategy and collaborations relevant to European exascale computing efforts. No other specific podcasts or interviews by the team were found within the provided sources.

Conferences, Fairs, Presentations

SiPearl regularly participates in key supercomputing conferences:

• At SC21 (Supercomputing Conference 2021), they presented their plans for exascale computing technologies alongside partner announcements from Intel and Graphcore.
• For SC24 (Supercomputing Conference 2024), SiPearl is listed as an exhibitor with active session chairs across workshops focusing on codesign, data movement & memory—highlighting their engagement not only as exhibitors but also contributors to conference content related to HPC innovations.
• The European Processor Initiative consortium documents indicate that since its origins (with which SiPearl is closely linked), they have organized tutorials, workshops, exhibitions targeting academia, industry experts, media representatives aiming at raising awareness about European processor sovereignty initiatives.

Event Involvement Summary

SiPearl demonstrates consistent involvement across multiple event types:

• Exhibiting cutting-edge microprocessor solutions
• Delivering presentations/workshops on energy-efficient processors at international fairs
• Engaging directly via tutorials targeted at scientific communities
• Participating collaboratively within consortium efforts promoting Europe’s technological independence in HPC.

The company's presence spans several countries including France (headquarters), Germany, Italy (new subsidiary opened June 2024), Spain reflecting global expansion aligned with strategic goals shared publicly through press communications over recent years .

---

Sources

• SiPearl Official Website - Press Relations
• Press Release: Rhea1 Key Features - May 13th 2024
• Business Wire: Partnership With Samsung - May 14th 2024
• HPCwire Interview at SC21 - December10th 2021
• SC24 Schedule Entry for SiPareal
• European Processor Initiative Dissemination Report July 2021
• Yole Group Industry News - Rhea Key Features May13th '24