1 The EIC Accelerator Project

The EIC Accelerator program is a flagship initiative of the European Innovation Council (EIC) aimed at supporting small and medium-sized enterprises (SMEs) and startups in Europe that are developing innovative technologies and solutions. This program is particularly focused on high-risk, high-potential innovations, especially in the DeepTech sector, which includes advanced technologies such as AI, biotechnology, and blockchain. The EIC Accelerator provides pivotal resources to help these companies scale their operations and secure additional funding from private investors.

Funding Structure

The EIC Accelerator employs a blended finance model that combines grants and equity investments to provide comprehensive financial support. The program offers two main components of funding:

Purpose and Impact

The primary purpose of the EIC Accelerator is to foster innovation and competitiveness within the European market, particularly in sectors that are pivotal for economic growth and sustainability. By providing financial resources and support, the program helps startups and SMEs overcome barriers to market entry and scale their operations effectively. The program also plays a crucial role in bridging the funding gap that many innovative companies face, particularly in their early stages, enabling them to attract additional funding from private investors.

Scaling and Private Sector Funding

The EIC Accelerator not only provides financial backing but also offers strategic guidance and networking opportunities, connecting innovative companies to potential investors, partners, and other stakeholders. This multifaceted support helps companies refine their business models, develop robust go-to-market strategies, and ultimately enhance their attractiveness to private sector investors.

EIC Accelerator Winner: TILKAL

Company Overview: TILKAL, based in France, is a recipient of the EIC Accelerator funding, recognized for its innovative project titled "tilkal." This initiative focuses on developing a next-generation blockchain-based supply chain traceability and transparency platform.

Project Overview: The tilkal project aims to revolutionize supply chain management by leveraging blockchain technology to enhance transparency, traceability, and accountability throughout the supply chain. By employing decentralized ledger technology, TILKAL seeks to provide real-time visibility into the movement of goods, thereby improving operational efficiency and reducing fraud.

Technology Background

The technology behind the tilkal project is rooted in blockchain, a distributed ledger technology that enables secure, transparent, and tamper-proof record-keeping. In traditional supply chains, various intermediaries manage data, often resulting in inefficiencies, lack of transparency, and vulnerabilities to fraud. TILKAL's platform addresses these challenges by allowing all participants in the supply chain to access and verify data in real-time, thus ensuring that information is accurate and up-to-date.

The blockchain technology employed by TILKAL provides several key advantages:

Through the tilkal project, TILKAL aims to empower businesses to make informed decisions based on reliable data, enhance consumer trust, and contribute to more sustainable supply chains. The support from the EIC Accelerator will enable TILKAL to further develop its technology and expand its market presence, significantly impacting the European and global supply chain landscape.

2 The Funding Rounds

Tilkal: Financing, Funding Rounds, Investors, Valuation, and Exit Events (Since June 2022 EIC Accelerator Success)

Financing Raised

Tilkal has raised a total of approximately $3.93 million across five funding rounds. The company's funding activity continued after it was selected as an EIC Accelerator winner in June 2022.

Funding Rounds: Timing, Amounts, and Types

Details on the specific timing and types of funding rounds since the EIC Accelerator milestone are as follows:

• October 14, 2022: Incubator/Accelerator - III round (amount not disclosed).
• May 24, 2024: Two separate events recorded:
• Incubator/Accelerator - II round (amount undisclosed).
• Unattributed VC round (amount undisclosed).
• Earlier rounds include a Seed VC on June 17, 2019.
• Additional incubator or accelerator participation is noted but without further specificity.

While individual amounts for each post-June 2022 round have not been made public in available sources, the cumulative total remains at $3.93 million as of May 2024. This indicates that recent financing likely falls within this aggregate.

Investor Information

Tilkal's investors encompass several reputable entities:

• EIC Accelerator: Participated specifically in the Unattributed VC funding round.
• Orange Fab France
• Innovacom
• Ventech
• Breega
• Business Angels Netzwerk Deutschland

Other unnamed investors also participated across various rounds.

The involvement of EIC Accelerator post-selection underscores ongoing EU support following Tilkal’s success in securing this prestigious award.

Valuation Data

The most recent public estimate for Tilkal's enterprise valuation ranges from $15 to $23 million USD according to Dealroom.co; however, this figure is dated June 2019 and may no longer reflect current valuation trends given subsequent growth and fundraising activities. No newer official valuation figures have been reported since their latest fundraising activity.

Estimated annual revenue stands at approximately $2.5 million per year based on third-party analytics as of early-to-mid 2020s, but there is no direct tie-in provided between these revenue estimates and company valuations post-funding.

Exit Events: IPOs or Acquisitions

As of May 1st, 2025:

• There has been no reported Initial Public Offering (IPO) by Tilkal.
• There are also no records or credible reports indicating any acquisition or buyout event involving the company since its EIC Accelerator win through to present day search data.

All indications point toward continued independent operations with strong support from European innovation programs rather than an exit event such as IPO or acquisition during this period.

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Sources

Tilkal company information (Dealroom) Tilkal financials & funding timeline (CB Insights) TILKAL Funding Information | Wellfound Startup Of The Week: Tilkal – The Innovator Tilkal Revenue & Company Data – Growjo Company profile – CB Insights

3 The Press Releases

Tilkal's EIC Accelerator Funding and Post-Award Developments

EIC Accelerator Recognition (2022)
Tilkal, a Paris-based SaaS platform specializing in blockchain-powered supply chain traceability, secured funding through the European Innovation Council (EIC) Accelerator in June 2022. The company was among 75 winners selected from over 986 applicants, receiving blended financing (grant and equity) as part of a €400 million funding pool. Notably, Tilkal’s platform integrates multi-tier supply chain mapping, auditability tools, and compliance algorithms to enhance transparency across industries such as manufacturing and retail.

Post-Funding Advancements (2023–2024)
By 2023, Tilkal’s network included 78 independent blockchain nodes operated by clients and suppliers, with nearly 700 companies actively using its platform. The EIC jury highlighted Tilkal’s cross-sector versatility and its potential for high social-economic impact, particularly in enabling sustainable manufacturing practices.

In May 2024, Tilkal announced a new funding round led by Innovacom and the EIC Fund, aimed at accelerating global deployment of its traceability solutions. This investment followed its earlier €17.5 million EIC award and focused on enhancing regulatory compliance features for upcoming EU sustainability laws. Key technological advancements include AI-driven due diligence tools and predictive risk assessment modules designed to address modern supply chain challenges.

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Sources

• EIC Accelerator June 2022 Winners
• Tilkal's EIC Funding Announcement
• Innovacom & EIC Fund Investment

4 The Technology Advancements

Tilkal's Post-EIC Accelerator Progress: Advancements in Supply Chain Traceability

Since securing EIC recognition and scaling support, Tilkal has solidified its position as a leader in cross-sector supply chain traceability. The French deep tech firm has expanded its platform capabilities, customer base, and regulatory compliance tools while integrating emerging technologies to address global supply chain challenges.

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Technology Enhancements

• AI-powered traceability systems: Tilkal contributed to developing an AI-driven platform for the EU-funded Sea2See project, improving seafood safety and sustainability tracking.
• Cross-sector adaptability: Unlike competitors focused on single industries, Tilkal now supports multi-industry value chains (food, aerospace, cosmetics) with batch-level tracking from raw materials to recycling.
• Regulatory preparedness: Built Digital Product Passport (DPP) solutions aligned with EUDR forced labor regulations and circular economy mandates.

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Market Demonstrations & Customer Growth

• Key client acquisitions: Major corporations like Danone and Veolia now use Tilkal’s platform for end-to-end traceability.
• Use case expansion: Two-thirds of existing customers have adopted new platform features for compliance reporting and risk management since 2022.
• Global scalability proof points: Demonstrated operational success in remote regions like Peru’s cocoa farms by digitizing payment systems - reducing farmer payment delays from eight months to two.

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Intellectual Property & Industry Recognition

While no new patents are explicitly cited in available records:

• IDC Innovator status: Named a 2024 IDC Innovator for Food Traceability due to its unique AI/blockchain integration.
• EU Innovation Radar recognition: Acknowledged as a Key Innovator for contributions to sustainable seafood tracking via the Sea2See project.

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Sources Used in This Analysis

Tilkal - Supply Chain Traceability Platform | EIC Scaling Club Interview (2024) | CB Insights Profile | EIT Food Partnership Details

5 The Partnerships and Customers

Tilkal's Strategic Partnerships and Client Engagements Post-EIC Accelerator Funding Since securing EIC Accelerator funding in 2022, Tilkal has expanded its collaborations across industries to enhance supply chain transparency and compliance. Here’s a detailed overview of their partnerships, clients, and market positioning:

Key Partnerships

• Responsible Mica Initiative (RMI): Tilkal partnered with RMI in 2021 to deploy blockchain-based traceability for mica supply chains, aiming to eradicate child labor and improve working conditions. The collaboration continues to serve as a model for ethical sourcing.
• Eramet: In 2024, Tilkal and Eramet received Cybervadis’ Best Collaboration Award for cybersecurity innovations in supply chain traceability.
• Traceability Open Connect Ecosystem: Launched in 2024 with 11 partners, this initiative integrates complementary services like risk analysis, lifecycle assessments (LCA), and product information management (PIM) to create interoperable solutions.

Notable Clients

• Les Candides (Cosmetics): Partnered with Tilkal in 2021 for end-to-end product traceability using blockchain.
• Cœur de Lion (Food): Adopted Tilkal’s platform to ensure full transparency of its products.
• Valrhona (Chocolate): Collaborated with Tilkal on cocoa traceability alongside PwC France.

New Developments in 2024

#### Regulatory Compliance Tools Tilkal launched an EUDR module tailored for the European Union’s anti-deforestation regulation:

• Integrates 5 satellite data sources for deforestation risk analysis.
• Automates reporting via direct links to the EU TRACES platform.

Market Positioning & Technology Advancements

The company has solidified its role as a cross-industry leader by:

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Sources Used: Documentation & Announcements Referenced Above

• Cosmetics | New partnership announcement: Les Candides X Tilkal [Client use case]
• Valrhona & Tilkal: The controlled traceability of cocoa - PwC France [Client collaboration]

6 The Hiring and Company Growth

Tilkal Company Overview and Growth

Tilkal, a French company focused on enhancing supply chains through traceability, transparency, and auditability, received funding from the European Union's EIC Accelerator in June 2022. This support has likely contributed to its growth and strategic expansion.

Current Team Size and Hiring Status

While specific details on Tilkal's current headcount are not available, the company actively encourages individuals to join its team to contribute to making a difference in supply chain management. Tilkal is currently hiring for positions such as Bilingual Traceability Project Manager, Junior Business Developer, Lead Algorithm Solutions Manager, and Account Manager for Retail/Industry, indicating ongoing team growth.

Key Positions and Growth Implications

Recent hiring efforts suggest a focus on expanding technical capabilities and market reach. Positions like Lead Algorithm Solutions Manager and Bilingual Traceability Project Manager are critical for enhancing the company's core offerings and supporting its mission to improve supply chain transparency. These new team members will likely play a significant role in scaling Tilkal's operations, allowing the company to better serve clients and expand its market presence.

Future of the Company

The addition of these new positions and team members is crucial for Tilkal's future growth. It enables the company to scale its services more effectively, offering enhanced solutions to meet the evolving needs of the supply chain industry. This strategic expansion positions Tilkal well for continued success in promoting sustainable and ethical supply chain practices.

Major Changes in Management or Founding Team

There are no reported major changes in Tilkal's management or founding team since receiving the EIC Accelerator funding. The leadership team remains composed of key figures such as Matthieu Hug as Chief Executive Officer, Joseph Azar as Chief Operations Officer, Perrine Delobelle as Chief Marketing Officer, and Sébastien Gaïde as Chief Technology Officer.

Growth Since EIC Accelerator Funding

Since receiving the EIC Accelerator funding in June 2022, Tilkal has likely experienced significant growth and recognition. The funding supports Tilkal's mission to enhance supply chain resilience, sustainability, and ethics, which aligns with broader European Union priorities. This support has probably facilitated Tilkal's expansion into new markets and the development of more sophisticated supply chain solutions.

Conclusion

Tilkal's growth trajectory since receiving EIC Accelerator funding in June 2022 is marked by strategic hiring and a focus on enhancing its core capabilities. The company's commitment to creating more sustainable and transparent supply chains, supported by its expanding team and EU funding, positions it for continued success in the industry.

Sources

• Company
• Careers
• Tilkal Reviews
• Tilkal vs. Fleetx Comparison

7 The Media Features and Publications

Tilkal: Media Coverage and Public Engagement Since EIC Accelerator Funding

Media Features and Publications
Tilkal has been prominently featured in industry publications for its blockchain-driven supply chain solutions. The Innovator named Tilkal "Startup of the Week," highlighting its work with clients like Danone, Valrhona, and Longchamp to improve traceability in food and luxury sectors. BusinessWire covered Tilkal’s collaboration with the Responsible Mica Initiative (RMI) to deploy blockchain for ethical mica sourcing, emphasizing its role in combating child labor. In March 2024, the company announced a €3.5M funding round led by Breega and Ventech, which was widely reported as part of their expansion into European markets.

Podcasts and Interviews
While specific podcast appearances are not detailed in available sources, CEO Matthieu Hug has been quoted extensively in articles discussing Tilkal’s mission. For example, he emphasized the importance of end-to-end traceability to rebuild consumer trust during the 2024 funding announcement and reaffirmed the company’s commitment to ethical sourcing during the RMI partnership announcement.

Conferences and Events
Tilkal actively participates in high-profile industry events:

• EIC Scaling Club: Selected among 48 deep-tech scaleups for a curated program aimed at solving global challenges. The group met at an Ignition Forum in Brussels/Leuven (April 9–10).
• EIT Food Rising Food Stars: Joined this European Commission-backed program in May 2023 to advance sustainable food systems.
• Blockchain Conferences: Presented case studies on illicit trade prevention at events like the Blockchain Munich Conference (2019), focusing on infant formula security and pharmaceutical supply chains.

Event Involvement Beyond Conferences
Tilkal contributes to collaborative projects such as Sea2See (part of EU’s Farm2Fork initiative) to enhance seafood traceability. Its participation in RMI’s multi-stakeholder initiative underscores its role as a leader in ethical mineral sourcing partnerships.

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Sources

• Startup Of The Week: Tilkal - The Innovator
• Tilkal raises €3.5m
• Responsible Mica Initiative & Tilkal Collaboration
• CB Insights Profile
• Blockchain Conference Presentation PDF