1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative startups and small to medium-sized enterprises (SMEs) in Europe, particularly those operating in the DeepTech sector. This initiative aims to bridge the gap between research and commercialization, providing financial support and guidance to help companies scale their innovative projects. The program offers a unique blend of grant funding and equity investment, structured to empower entrepreneurs to bring cutting-edge technologies to market.

Funding Structure

The EIC Accelerator provides funding through a blended finance model, which includes both grants and equity investments.

Purpose and Impact

The primary objective of the EIC Accelerator is to foster innovation and support the European startup ecosystem, particularly in the DeepTech domain. By providing substantial financial resources, the program enables companies to develop groundbreaking technologies that address significant societal challenges. This support not only aids in the commercialization of novel solutions but also enhances European competitiveness on a global scale.

The EIC Accelerator plays a crucial role in helping companies secure the necessary funding from private investors. With the combination of grants and equity investments, companies can present a more compelling case to potential investors, showcasing their commitment and the viability of their technology.

Case Study: Twinsity GmbH and the Twinspect Project

Company Overview: Twinsity GmbH is a German company that has emerged as a winner of the EIC Accelerator program. The firm specializes in leveraging artificial intelligence (AI) to enhance the safety and operational efficiency of critical infrastructure.

Project Acronym: Twinspect

Project Description: Twinspect is an innovative project that focuses on delivering the first fast and automated AI-based inspection solution for large critical infrastructures, such as bridges, dams, oil and gas platforms, and refineries. The technology is designed to perform inspections in under five minutes, significantly enhancing operational safety and efficiency.

Technology Background

The core technology underpinning the Twinspect project revolves around advanced AI algorithms capable of analyzing vast amounts of data generated during inspections. Traditional inspection methods for critical infrastructure often rely on manual processes that are time-consuming, labor-intensive, and susceptible to human error. In contrast, Twinspect utilizes machine learning and computer vision techniques to automate the inspection process, drastically reducing the time required for assessments while improving accuracy.

The AI system is trained on extensive datasets, including images and sensor data from various infrastructures. This training enables the system to identify potential structural issues, such as cracks or corrosion, with high precision. By rapidly analyzing these data points, Twinspect can provide actionable insights to infrastructure operators, allowing for timely maintenance and interventions.

Conclusion

The EIC Accelerator program serves as a vital catalyst in the European DeepTech ecosystem, exemplified by the success of Twinsity GmbH with its Twinspect project. By providing substantial funding and support, the program helps innovative companies develop and commercialize technologies that can transform industries and enhance public safety. Through initiatives like Twinspect, the EIC Accelerator not only fosters innovation but also contributes to the resilience and sustainability of critical infrastructure across Europe.

2 The Funding Rounds

Twinsity GmbH: Funding and Financing Overview Since EIC Accelerator Award

Twinsity GmbH, based in Kassel, Germany, is a deeptech startup specializing in AI-based automated inspection of large infrastructure assets. Since submitting its Step 2 proposal for the EIC Accelerator on March 22, 2023—and later winning at interview—Twinsity has received significant recognition and financial backing. Below is a detailed summary of its financing history, funding rounds, investors, valuations, and any exit events since that milestone.

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Financing Raised & Funding Rounds

• In July 2023, Twinsity secured €2.5 million from the European Innovation Council (EIC) Accelerator as part of the second call for proposals in March 2023.
• This round was publicly announced as instrumental to scaling their AI-driven inspection platform (Twinspect), supporting R&D acceleration and team expansion.

Date	Amount	Investor(s)	Type
July 2023	€2.5M	EIC Accelerator (European Commission)	Grant/Equity Blend

• Prior funding rounds include:
• October 2021: A round involving FinLab EOS Fund (managed by FinLab AG) and Carsten Werner; financial details undisclosed.
• October 2021: C3 Venture Capital invested $2 million USD.
• October 2022: BMH and C3 Venture Capital invested $1 million USD.

Investor Information

• The most recent lead investor is the European Innovation Council (EIC), marking strong EU institutional support for breakthrough innovation.
• Previous key investors include:
• FinLab EOS Fund / FinLab AG
• Carsten Werner
• C3 Venture Capital
• BMH

Theo Woik of C3 Venture Capital was among early institutional backers who recognized the transformative potential of Twinspect’s automation capabilities within infrastructure inspection industries.

Company Valuation

As per Dealroom.co estimates from October 2021—prior to EIC funding—the enterprise valuation stood between $8–12 million USD. No more recent public valuation data has been reported post-EIC financing.

Exit Events

There have been no reported exit events such as IPOs or acquisitions since Twinsity’s receipt of EIC Accelerator funding.

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Summary Table

Year/Month	Event	Amount	Notable Investors
Oct 2021	Early Funding	Undisclosed	FinLab EOS Fund; Werner
Oct 2021	Investment	$2M	C3 Venture Capital
Oct 2022	Investment	$1M	BMH; C3 Venture Capital
Jul 2023	EIC Accelerator Award	€2.5M	European Innovation Council

Undisclosed amount for some seed investments.

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Additional Notes

The €2.5 million injection via the EIC blends grant and possible equity elements typical for this EU program—often up to €15 million in equity combined with grants up to €2.5 million per company per call cycle—but specific breakdowns are not always published immediately after award announcements. Twinsity’s selection followed a highly competitive process with only about a nine percent final success rate at Step Three interviews among hundreds of applicants across Europe.

No IPO or acquisition activity has been publicly documented since receiving this significant non-dilutive capital infusion.

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Sources

• Kassel-based Twinsity secures €2.5 million from EIC Accelerator to upscale AI-based infrastructure inspection
• Twinsity Secures €2.5 Million in Funding
• Twinsity Secures EUR 2.5 Million from EIC Accelerator to Pioneer Infrastructure Inspection Technology
• These are the winners of EIC Accelerator's second 2023 call – EurA AG
• EIC Accelerator winners and statistics March 2023 – Strata.team

Other relevant sources on earlier investments:

Twinsity Gmbh announced that it has received funding from FinLab AG and another investor

For historical investor data:
-Invest NY profile on Twinsity company information & investors -Dealroom.co profile on Twinsitiy GmbH

3 The Press Releases

Twinsity GmbH: A Pioneer in AI-Based Infrastructure Inspection

Twinsity GmbH, a German-based deep-tech startup, has been making significant strides in the field of AI-driven infrastructure inspection since receiving funding from the European Innovation Council (EIC) Accelerator in March 2023. Founded in 2019, Twinsity specializes in developing an advanced inspection platform that leverages artificial intelligence, drone technology, and digital twins to enable efficient and data-driven monitoring of critical infrastructure assets such as bridges, dams, and oil and gas refineries.

Technology Advancements

Twinsity's Twinspect platform harnesses the power of AI and machine learning to increase operational safety and efficiency for its clients. The platform allows expert teams to gain comprehensive insights into asset conditions, facilitating accurate decision-making and proactive maintenance planning. By utilizing photorealistic 3D models and AI-assisted damage analysis, Twinsity's technology enhances communication, collaboration, and targeted action planning among stakeholders.

Funding and Expansion

In June 2023, Twinsity secured €2.5 million in funding from the EIC Accelerator. This investment has been instrumental in driving Twinsity's growth, enabling the company to enhance its core technologies, accelerate research and development efforts, and expand its team of industry-leading experts. The funding reflects the immense potential of Twinsity's AI-based automated inspection platform and its mission to transform the infrastructure inspection industry by reducing costs and predicting maintenance needs more effectively.

Partnerships and Recognition

Twinsity has distinguished itself in the tech industry with its unique and innovative approach, earning recognition as a highly innovative company by the European Union. The company's first institutional investor is C3 Venture Capital, which has expressed strong belief in Twinspect's potential to automate large-scale infrastructure inspections significantly.

Press Releases and Updates

Currently, there are no specific press releases or updates available on Twinsity's website or social media accounts. However, the company's achievements and funding announcements have been covered by various tech and innovation news platforms, highlighting its pioneering role in AI-driven infrastructure inspection solutions.

Conclusion

Twinsity GmbH is poised to make a significant impact in the infrastructure inspection sector with its innovative Twinspect platform. The EIC Accelerator funding has provided a substantial boost to the company's expansion plans, positioning it for further growth and technological advancements in the global market.

Sources

• EIC Accelerator winners and statistics March 2023
• These are the winners of EIC Accelerator's second 2023 call
• Kassel-based Twinsity secures €2.5 million from EIC Accelerator to upscale AI-based infrastructure inspection
• Twinsity Secures EUR 2.5 Million from EIC Accelerator to Pioneer AI-Based Infrastructure Inspection
• Twinsity

4 The Technology Advancements

Twinsity GmbH: Post-EIC Accelerator Funding Progress and Technological Advancements

Since securing €2.5 million from the European Innovation Council (EIC) Accelerator in July 2023[^date], Twinsity GmbH has advanced its AI-driven infrastructure inspection platform, Twinspect, focusing on technological enhancements, market deployment, and industry collaboration. While explicit details about patents or scientific publications remain undisclosed in available sources, the company’s trajectory highlights key developments:

Core Capabilities

Twinsity’s Twinspect platform combines drone-captured data, photorealistic 3D modeling, and AI-powered defect detection (e.g., cracks, spalling) to streamline inspections of critical infrastructure like bridges and oil platforms. Key features include:

• AI-assisted damage analysis: Automated defect identification using visual intelligence technology.
• Web-based collaboration: Secure access to interactive 3D models and inspection data for cross-team decision-making.
• Custom reporting tools: Automated generation of actionable maintenance plans with measurement overlays and historical comparisons.

Post-Funding Advancements

The EIC funding has accelerated Twinsity’s R&D efforts to refine its AI algorithms and expand platform functionalities. Though no new patents or whitepapers are publicly cited since mid-2023, the company emphasizes ongoing improvements in automated defect detection accuracy and scalability for large assets like dams and refineries. Market-facing developments include enhanced real-time collaboration tools optimized for enterprise clients handling geographically dispersed teams.

Market Demonstration & Deployment

Twinsity’s technology is actively deployed for infrastructure monitoring across sectors. While specific customer names are not disclosed, Twinspect is positioned as a solution for industrial clients requiring lifecycle asset management—particularly in energy (oil platforms) and civil engineering (bridges). The platform’s focus on “proactive maintenance planning” suggests operational use cases with long-term asset operators seeking predictive analytics capabilities.

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Sources

• Twinsity Official Website
• C3 Venture Capital Announcement
• EU Startups Coverage
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[^date]: While the query references a March 22 date per user input, all public records confirm July 2023 as Twinsity's EIC Accelerator award announcement month based on press releases from C3 Venture Capital (source) and EU Startups (source). No verifiable data exists linking their EIC success to March 22 specifically.

5 The Partnerships and Customers

Twinsity GmbH's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding Since securing €2.5 million from the European Innovation Council (EIC) Accelerator in July 2023, Twinsity GmbH has focused on advancing its AI-driven digital twin platform, Twinspect®, while expanding its ecosystem of partners and customers to drive scalability and technological innovation.

Key Partnerships

• SPRINT Robotics Collaborative: Twinsity is an active participant in this global consortium aimed at promoting robotics for infrastructure inspection. This partnership aligns with their goal to enhance large-scale asset management through automation and AI.
• Regional Distributors: The company emphasizes localized support through regional distributors, though specific names remain undisclosed. These partnerships aim to provide tailored consulting and expand market reach globally.

Customer Base & Market Impact

While explicit customer names are not publicly listed, testimonials highlight adoption by infrastructure inspection teams managing bridges, oil platforms, and building facades. Clients report improved collaboration, faster reporting, and enhanced decision-making through Twinspect’s photorealistic 3D models and drone-based data integration.

Nature of New Relationships

• Technology Integration: Twinspect supports third-party photogrammetry tools like Agisoft Metashape, Bentley iTwin Capture Modeller, RealityCapture, Pix4D, and DJI Terra for seamless 3D model integration.
• Cloud Infrastructure: Hosted on AWS for secure data storage/accessibility across devices, reinforcing reliability for enterprise clients.

Market Positioning & Technological Advancements

The EIC funding enables:

• AI/ML Development: Enhanced defect detection algorithms using machine learning to automate infrastructure assessments.
• Global Expansion: Scaling R&D teams to refine real-time analytics capabilities for predictive maintenance applications.

By integrating with industry-standard tools and prioritizing cloud-based collaboration, Twinsity solidifies its role as a leader in AI-powered digital twin solutions for critical infrastructure sectors.

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Sources

Twinsity | Announcing Twinspect 2023.1 | Distributors | EIC Accelerator Funding

6 The Hiring and Company Growth

Twinsity GmbH: Team Growth and Development

Twinsity GmbH, based in Germany, has been a significant player in the digital twin and drone inspection industry, especially since its founding by the father-son duo Uwe and Fabien Chalas in 2019. Following the EIC Accelerator funding in March 2023, Twinsity has experienced notable growth and development.

Current Headcount and Team Size

There is no specific information available on Twinsity's current headcount or exact team size. However, the company's growth in recent years suggests an expanding workforce, particularly given its increased focus on innovative technologies and partnerships.

Hiring Status

While specific current hiring positions are not detailed, Twinsity's continuous development and expansion suggest they may be open to new talent to support their growth and innovation efforts.

Growth

Since its inception, Twinsity has grown significantly by developing cutting-edge solutions like TWINSPECT, a cloud-based platform for managing and analyzing drone inspection data. The company has also raised approximately $2.6 million in funding in 2023, which has likely contributed to its growth and expansion plans.

Key Positions and Future Impact

The hiring of new team members at Twinsity would likely focus on enhancing its technological capabilities, customer support, and market outreach. New team members could play a crucial role in scaling the company's operations, improving product development, and expanding its customer base. This growth would be essential for Twinsity to maintain its competitive edge in the digital twin market.

Management Changes

There are no reported major changes in the management or founding team of Twinsity. Uwe and Fabien Chalas remain key figures in the company's leadership, guiding its strategic direction and innovation initiatives.

Scaling and Growth

Twinsity's future growth is closely tied to its ability to scale its technology and services effectively. By expanding its team with skilled professionals, the company can enhance its product offerings, improve customer engagement, and expand into new markets. This strategic growth will be crucial for Twinsity as it aims to become a leading provider of digital twin solutions for infrastructure inspection and management.

Sources

Twinsity Twinsity Launches TWINSPECT Germany Digital Twin Market

7 The Media Features and Publications

Overview of Twinsity GmbH

Twinsity GmbH is a deep-tech startup based in Kassel, Germany, focused on developing AI-driven infrastructure inspection solutions. Since receiving EIC Accelerator funding in March 2023, the company has continued to make significant strides in the field of digital inspections. Here are some key features and recent developments:

Media Features and Publications

Twinsity GmbH has been featured in several publications, including tech.eu, hoistmagazine.com, and drj.com. These publications highlight Twinsity's innovative approach to digitizing drone inspections, particularly through its flagship platform, TWINSPECT. The platform is noted for enhancing operational safety and efficiency in infrastructure management by providing unparalleled insights and proactive maintenance solutions.

Content from Publications

Publications emphasize how TWINSPECT fully digitizes the drone inspection process, allowing teams to efficiently manage and analyze high-quality drone inspection data directly on a browser. This capability enables the detection of minor defects, which can be crucial for preventing major financial and security challenges. Additionally, TWINSPECT is recognized for its ability to visualize digital twins in interactive 3D environments, facilitating detailed inspections and measurements directly within the models.

Podcasts and Interviews

There is no specific information available about Twinsity GmbH's participation in podcasts or interviews, although their innovative solutions have been discussed in various industry forums and articles.

Conference and Fair Visits

Twinsity GmbH is involved in various industry events and partnerships, such as the SPRINT Robotics Collaborative, which aims to advance robotics for inspection and maintenance of capital-intensive infrastructure. While specific conference visits are not detailed, Twinsity's participation in such collaborations reflects its commitment to driving innovation in asset management.

Involvement in Events

The company is actively involved in shaping the future of infrastructure inspections through its engagement with key industry players and participation in collaborative initiatives. This includes leveraging funding from the European Innovation Council Accelerator to strengthen its position in the global market and foster strategic partnerships.

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Sources: - Twinsity

• Twinsity launches TWINSPECT, the cloud-based platform that makes structural inspections safer, easier, and more efficient
• Twinsity launches Twinspect software to digitize drone inspections
• Twinsity GmbH
• Levelling up on infrastructure inspections, Kassel-based Twinsity gets a €2.5 million from EIC
• Twinsity's TWINSPECT Fully Digitizes Drone Inspection Processes