1 The EIC Accelerator Project

The EIC Accelerator program is a pivotal initiative under the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) and startups with innovative, high-risk ideas that have the potential for significant economic impact. The program primarily focuses on DeepTech and technologies that can revolutionize existing industries, particularly in areas such as health, energy, transport, and digitalization.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers funding through a blended finance model that combines grants and equity investments. The grant component can reach up to €2.5 million, aimed at covering early-stage development costs, such as R&D, prototyping, and market validation. This grant is particularly beneficial for companies in the initial phases of innovation, providing them with the financial support needed to refine their technologies and business models.

In addition to the grant, the EIC Accelerator provides equity funding, which is crucial for scaling operations and attracting further private investment. The equity investment can be as high as €15 million until 2024, after which it will be capped at €10 million. This flexible funding structure is designed to empower companies to grow, allowing them to pursue larger-scale projects, attract private investors, and ultimately enhance their market position.

Purpose and Role in the Ecosystem

The EIC Accelerator serves a critical role in the European startup ecosystem by facilitating access to necessary funding and resources, thereby enabling innovative companies to scale effectively. It aims to bridge the gap between early-stage innovations and market entry, ensuring that promising technologies do not falter due to a lack of financial backing. By supporting SMEs and startups in this way, the EIC Accelerator contributes to job creation, economic growth, and the advancement of cutting-edge technologies within Europe.

Additionally, the EIC Accelerator fosters collaboration between startups and established industry players, helping to create a dynamic ecosystem that encourages knowledge sharing and innovation. The program's focus on DeepTech ensures that Europe remains competitive in the global market by promoting advancements in technologies that are essential for future growth.

Case Study: TRANSMETRICS AD and the Transmetrics Project

TRANSMETRICS AD, based in Bulgaria, emerged as a notable winner of the EIC Accelerator with its project, Transmetrics. This AI-driven platform is designed to optimize logistics planning and asset management through the application of predictive analytics and artificial intelligence. The company submitted its Step 2 proposal on March 23, 2022, and successfully advanced to the Step 3 interview, ultimately securing funding to propel its innovative solution.

Technology Overview

The Transmetrics platform leverages advanced algorithms and machine learning techniques to analyze vast datasets related to logistics and asset management. By utilizing historical data, real-time information, and predictive modeling, the platform provides actionable insights that enable companies to enhance their operational efficiency.

The core technology focuses on several key areas:

The Transmetrics project exemplifies the potential impact of the EIC Accelerator program on innovative companies within the European ecosystem. Through the combination of grant and equity funding, TRANSMETRICS AD is positioned to enhance its technology, expand its market reach, and contribute to the evolution of logistics and asset management in the digital age. The funding received from the EIC Accelerator will enable further research and development, ultimately leading to improved efficiencies and sustainability in logistics operations across Europe.

2 The Funding Rounds

Transmetrics AD: Funding and Growth

Transmetrics AD, a Bulgarian company specializing in AI-powered logistics planning solutions, has been recognized for its innovative approach to optimizing supply chain operations. Following its selection for the European Innovation Council (EIC) Accelerator program in March 2022, Transmetrics successfully progressed through the program and received further funding.

Financing Raised

In February 2023, Transmetrics announced the closure of a €2.5 million convertible funding round. This round was co-led by the European Innovation Council Fund and Impetus Capital, with participation from existing shareholders and angel investors. The funding marked a crucial step for the company, bringing its total raised equity and grants to nearly €7.5 million since its inception in 2013.

Funding Rounds

Transmetrics' funding journey includes several rounds, culminating in the recent convertible round. This financing round precedes a planned Series A round, which is expected to support further business expansion and technological development.

Timing and Amount of Funding Rounds

• Latest Funding Round (2023): €2.5 million convertible round, led by the European Innovation Council Fund and Impetus Capital.
• Total Raised: Approximately €7.5 million in equity and grants since 2013.

Investor Information

Key investors in Transmetrics include: - European Innovation Council Fund: A major supporter through the EIC Accelerator program.

• Impetus Capital: Co-lead investor in the recent convertible round.
• Existing shareholders and angel investors: Participated in the convertible round.

Information Related to Funding Rounds

The funds raised are being utilized to enhance Transmetrics' AI-powered analytics, forecasting, and optimization tools. The company aims to expand its market presence, improve logistics efficiency, and contribute to sustainability through more efficient supply chain management.

Company Valuations

While specific valuation figures are not detailed in the available data, the successful funding rounds and the company's growth trajectory indicate a strong position in the logistics technology sector.

Exit Events

There are no reported exit events such as IPOs, buyouts, or acquisitions for Transmetrics AD. The company remains focused on expanding its AI-driven logistics solutions and reinforcing its market presence.

Sources: - Transmetrics Closes €2.5 Million Convertible Round

• About - Transmetrics
• Transmetrics clinches €2.5 million round for its logistics AI platform
• Transmetrics closes funding round to accelerate AI-powered tools
• Transmetrics Bets AI and Big Data Solutions Will Change The Game
• Transmetrics - Products, Competitors, Financials, Employees
• Transmetrics Closes €2.5 Million Convertible Round to Accelerate the Development of AI-Driven Logistics Planning Technologies

3 The Press Releases

Overview of Transmetrics

Transmetrics, a Bulgarian company specializing in AI-driven logistics solutions, has recently made significant advancements in the industry. Since receiving funding from the European Innovation Council (EIC) Accelerator in March 2022, Transmetrics has continued to innovate and expand its offerings.

Funding and Development

In February 2023, Transmetrics closed a €2.5 million convertible funding round, led by the European Innovation Council Fund and Impetus Capital. This funding has been used to enhance Transmetrics' AI-powered analytics, forecasting, and optimization tools, as well as to expand into new markets and strengthen its position in the logistics sector. The company has now raised a total of approximately €7.5 million in equity funding and grants since its inception in 2013.

Technology Advancements

Transmetrics' platform leverages predictive analytics and machine learning to automate logistics planning, substituting traditional human planning methods that often rely on Excel and intuition. The company has introduced FleetMetrics, a solution designed specifically for the trucking sector. FleetMetrics integrates data from various systems, such as telematics and TMS, to provide comprehensive operational and cost visibility for fleet management.

Partnerships and Collaborations

Transmetrics has collaborated with major logistics companies like DHL, Kuehne+Nagel, DB Schenker, and DPD, helping them optimize supply chains and reduce transport costs. The company's advisory and customer boards play crucial roles in network expansion and product development, ensuring that Transmetrics stays aligned with industry needs.

Team Updates

There have been significant team updates, including the appointment of new leadership roles. However, specific details on recent team changes since the EIC funding are not readily available.

Press Releases and Blog Posts

Transmetrics regularly publishes updates and insights on logistics, AI, and technology trends on its blog. Recent articles highlight the importance of AI in trucking, supply chain optimization strategies, and emerging logistics technology trends. Press releases are available on the company's website, detailing funding rounds, product launches, and strategic developments.

Patents

Information on specific patents held by Transmetrics is not available in the current data.

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Sources: - Press Releases Archives - Transmetrics

• Transmetrics Blog
• Transmetrics Launches FleetMetrics A Game-Changing Solution For Trucking Companies
• Transmetrics closes funding round to accelerate AI-powered tools
• Transmetrics clinches €2.5 million round for its logistics AI platform
• Transmetrics Bets AI and Big Data Solutions Will Change The Game
• Commentary: Bulgaria's Transmetrics uses augmented intelligence

4 The Technology Advancements

Overview of Transmetrics AD

Transmetrics AD, based in Bulgaria, is a leading provider of AI-powered logistics planning solutions. The company leverages machine learning and predictive analytics to optimize transport planning, reducing environmental impact and improving operational efficiency in the logistics sector.

Capabilities of Transmetrics AD

Transmetrics offers a cloud-based SaaS platform that integrates advanced machine learning methods with predictive analytics and robust optimization algorithms. This integrated approach enhances forecasting accuracy, streamlines analytics, and provides actionable operational recommendations. The platform is designed to improve fleet utilization, reduce costs, and increase operational efficiency for logistics operators. Key solutions include linehaul planning, empty container management, trucking, and fleet maintenance.

Advancements Since EIC Accelerator Funding

Following the receipt of EIC Accelerator funding in March 2022, Transmetrics secured a €2.5 million convertible round in February 2023, led by the European Innovation Council Fund and Impetus Capital. This funding has enabled Transmetrics to continue developing its AI-powered analytics, forecasting, and optimization capabilities for logistics. The company is focusing on strategic collaborations, commercial growth, and expansion into new markets, with additional resources devoted to R&D. This has allowed Transmetrics to improve its technology and expand its customer base, enhancing efficiency and sustainability in the logistics sector.

Technology Improvements and Demonstrations

Transmetrics has demonstrated its technology through various commercial trials and collaborations with major logistics companies worldwide, such as Kuehne+Nagel and DPDgroup. The company's solutions have been shown to reduce transport costs by up to 25% and increase fleet utilization by up to 14%. While specific new features or products have not been detailed since the funding, the company continues to refine its existing solutions based on feedback from these trials.

Patents, Studies, and Publications

There is no recent information available regarding new patents filed or scientific studies published by Transmetrics specifically related to advancements since the EIC Accelerator funding. However, the company's ongoing R&D efforts and participation in high-profile funding programs indicate continued innovation in AI-driven logistics optimization.

Sources

• About - Transmetrics
• Transmetrics Predictive Logistics
• Transmetrics - EuroQuity
• Bulgarian startup Transmetrics secures €2.5M from EIC
• Review of Transmetrics, AI-Powered Logistics Software Vendor
• Transmetrics Secures Multimillion Investment from EIC Accelerator
• Transmetrics Closes €2.5 Million Convertible Round
• Data transformation offloading in an artificial intelligence infrastructure

5 The Partnerships and Customers

Transmetrics AD Overview

Transmetrics AD, a Bulgarian logistics optimization company, has been making significant strides in the industry since its inception in 2013. Recently, it received funding from the European Innovation Council (EIC) Accelerator, marking a crucial milestone in its growth and technological advancements.

Partnerships and Customers

Transmetrics has forged partnerships with several prominent logistics and transportation companies. Its customer base includes major players such as DHL Express, Agility Logistics, Kuehne+Nagel, DB Schenker, DPDGroup, and NileDutch. Additionally, it has collaborative relationships with entities like Jan de Rijk and TIP Trailer Services.

New Partnerships and Customers

While specific new partnerships or customers announced recently are not detailed, Transmetrics has been expanding its reach through the EIC funding. This support is expected to facilitate strategic partnerships and further product development, potentially leading to new collaborations in the future.

Nature of New Relationships

The new relationships and partnerships facilitated by the EIC funding are aimed at enhancing Transmetrics' AI-powered analytics, forecasting, and optimization tools. These advancements will enable the company to better serve its existing clientele and attract new customers by offering more sophisticated logistics solutions.

Market Position and Advancements

Through its partnerships and technological advancements, Transmetrics AD is well-positioned to remain a leader in logistics optimization. The company's focus on AI and predictive analytics allows it to provide solutions that significantly improve efficiency and reduce costs for its clients. This competitive edge is crucial in the logistics sector, where companies are increasingly looking to leverage technology for better operational outcomes.

Scaling and Technology Advancements

The EIC funding will allow Transmetrics to scale its operations and further develop its technology. This investment is pivotal for expanding its customer base and driving sustainability and efficiency in logistics. By focusing on innovation and customer satisfaction, Transmetrics aims to solidify its position as a premier provider of AI-driven logistics solutions.

Sources

• Partners - Transmetrics
• Transmetrics - The AI platform that redefines logistics and trucking
• New partnership with Jan de Rijk and Transmetrics
• Commentary: Bulgaria's Transmetrics uses augmented intelligence ...
• Transmetrics Launches FleetMetrics A Game-Changing Solution For Trucking Companies
• Transmetrics – a startup that helps to optimize transport in a smart way
• Transmetrics clinches €2.5 million round for its logistics AI platform
• How AI and predictive analytics are redefining logistics

6 The Hiring and Company Growth

Transmetrics AD: Team Growth and Strategic Hiring Post-EIC Accelerator Funding Transmetrics AD, a Bulgaria-based AI logistics optimization platform, has demonstrated consistent team expansion and strategic hiring to support its commercial growth and product development. Here’s a detailed breakdown of their team dynamics:

Team Size and Growth

• Current headcount: Approximately 50–53 employees, based on 2023 reports. The company grew its workforce by 44% year-over-year in 2020, reaching 33 employees at that time, indicating sustained scaling efforts.
• Recent hiring focus: Transmetrics is actively recruiting for roles such as data scientists, software developers, and key positions in sales and customer success.

Key Strategic Hires

• In July 2020, the company appointed industry veteran Jonathan Fath as Chief Operating Officer (COO) to oversee commercial operations, revenue growth, and product development.
• Leadership emphasizes talent acquisition to enhance their AI-driven logistics platform, particularly focusing on integrating advanced technologies like predictive analytics into solutions such as FleetMetrics.

Scaling Objectives

New hires aim to:

No recent changes in founding leadership are reported; CEO Asparuh Koev continues leading the company since its 2013 inception.

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Sources

• EMIS Company Profile [Financials]
• FreightWaves Commentary [Hiring & Growth]
• The Recursive Article [Funding & Hiring Strategy]

7 The Media Features and Publications

Transmetrics AD: An EIC Accelerator Winner from Bulgaria

Transmetrics AD, a Bulgarian company, received EIC Accelerator funding on March 23, 2022. Since then, the company has continued to innovate in the logistics and trucking industry using AI and predictive analytics. Here is an overview of the company's media features, publications, podcasts, and event participations:

Media Features and Publications

Transmetrics has been featured in various logistics and technology publications for its innovative use of AI in optimizing transport planning and operations. The company's solutions, such as FleetMetrics, have been highlighted for their ability to integrate data across systems, providing operational and cost visibility for trucking companies.

Podcasts and Interviews

Marc Meyer, Chief Commercial Officer at Transmetrics, has participated in podcasts discussing the integration of AI in logistics. He has shared insights on how AI is transforming supply chain management and the future of digitalization in logistics.

Conference and Fair Visits

Transmetrics has organized and participated in significant logistics conferences. Notably, the company hosted the "Logistics meets Innovation" conference in Brussels, focusing on collaboration in logistics, blockchain, and data analytics.

Events and Involvement

Transmetrics' involvement in events like the "Logistics meets Innovation" conference demonstrates its commitment to promoting innovation in the logistics sector. Such events provide platforms for networking and discussing future technologies like the Physical Internet and blockchain.

Involvement in the Industry

Since receiving the EIC Accelerator funding, Transmetrics has continued to develop and launch new products, such as FleetMetrics, designed to solve challenges in the trucking industry by providing enhanced operational visibility and efficiency.

Sources

• Transmetrics
• About Transmetrics
• Transmetrics Launches FleetMetrics
• Transmetrics on Capterra
• Transmetrics Overview
• Alcott Global Leaders in Supply Chain Latin America Podcast
• Logistics Meets Innovation Conference
• Attributy vs. Transmetrics Comparison