1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a pivotal initiative designed to support innovative small and medium-sized enterprises (SMEs) and startups that are developing breakthrough technologies and scalable business models. The program aims to enhance the growth and competitiveness of European DeepTech companies by providing substantial financial resources, extensive mentorship, and access to a wide network of investors and partners.

Funding Structure

The EIC Accelerator offers a unique blended finance model, combining grants and equity investments to facilitate the growth of innovative companies.

Purpose of the EIC Accelerator

The EIC Accelerator is vital for fostering innovation within the European ecosystem. It focuses on supporting high-risk, high-reward technological advancements that contribute to sustainable economic growth and job creation. By offering financial backing and strategic support, the program helps bridge the funding gap that many innovative companies face, particularly in their early stages. This assistance is crucial for attracting additional private sector investments, thereby enhancing the overall investment landscape for DeepTech and startup companies in Europe.

Role in Scaling Companies

The EIC Accelerator plays a significant role in helping companies scale by providing not only financial resources but also guidance and mentorship. Recipients of the EIC Accelerator funding gain access to a network of experienced business mentors and industry experts who can provide advice on strategic planning, market entry, and operational scaling. This support is essential for startups to navigate the complexities of bringing innovative products to market and ensuring long-term sustainability.

Case Study: WATGRID LDA and the Winegrid Project

Company Overview: WATGRID LDA, based in Portugal, is an innovative startup that has designed a cutting-edge platform called Winegrid. The company submitted its Step 2 proposal for funding on March 23, 2022, and subsequently secured funding through the EIC Accelerator program.

Project Description: The Winegrid project aims to develop a real-time data collection and analytics platform that facilitates automatic adjustments of vinification process parameters. This technological advancement is set to revolutionize the wine production process by enabling sustainable precision vinification, ultimately leading to higher quality wines while minimizing resource consumption.

Technology Basics: The foundational technology behind Winegrid encompasses advanced data analytics, IoT (Internet of Things) sensors, and machine learning algorithms. The platform integrates various sensors throughout the vinification process, collecting data on critical parameters such as temperature, humidity, and fermentation rates. This data is then analyzed in real-time, allowing winemakers to make informed adjustments to the production process.

The system is designed to provide actionable insights that optimize the vinification process, ensuring consistency and quality while reducing waste and energy consumption. By leveraging cutting-edge technology, Winegrid aims to establish a new standard in sustainable winemaking practices.

Conclusion

The EIC Accelerator program stands as a cornerstone for fostering innovation and supporting the growth of DeepTech startups in Europe. Through its blended finance model, it provides essential funding and mentorship that empower companies like WATGRID LDA to scale their operations and make significant contributions to their industries. The Winegrid project exemplifies the transformative potential of integrating real-time data analytics into traditional sectors, paving the way for a more sustainable future in winemaking.

2 The Funding Rounds

# WATGRID LDA: Journey from EIC Accelerator Funding to Acquisition

WATGRID LDA, a Portuguese company specializing in innovative technological solutions for liquid monitoring, has established itself as a significant player in the digitalization of processes for liquid-related industries. The company, also known for its WINEGRID product line, has experienced notable growth since receiving the EIC Accelerator funding.

Funding History and Investments

WATGRID has secured multiple rounds of funding throughout its development:

• May 2018: €650,000 investment round from Building Global Innovators and Caixa Capital
• June 2016: €100,000 investment from Caixa Capital
• October 2018: Funding from Italian Angels for Growth and the European Innovation Council (EIC)
• March 2022: EIC Accelerator funding following successful application in the March 23, 2022 cut-off

The company's funding journey reflects a typical progression through startup funding stages, moving from early seed investments to more substantial growth capital as the business expanded and demonstrated market traction.

Recognition and Awards

WATGRID has received numerous accolades highlighting its innovative approach:

• SME Phase II: European Commission funding for its Winegrid solution
• Seal of Excellence: Awarded by the European Commission
• CNOIV Distinction Award: In the "Oenology" category
• Road 2 Web Summit 2016: Selected as one of 66 companies to showcase at Web Summit 2016
• 33entrepreneurs: Winner of the Vinocamp Lisboa 2014 contest
• Recognition of Suitability by ANI: Certification of WATGRID's competencies in carrying out R&D activities in ICT areas for the wine sector
• WICA by EPAWI: Recognized for offering solutions to face the main challenges in the winemaking industry
• Technology Innovation Award: Won at the 29th SIMEI for the Digital Juice System, developed in partnership with G3 Enterprises and DIEMME Enologia

Acquisition and Exit

In a significant development for the company, WINEGRID (WATGRID) was acquired by Enartis, an Italian multinational that is part of the Esseco Group with a global presence in more than 50 countries. This acquisition was completed in December 2023.

The acquisition represents a major milestone for WATGRID, positioning it at the forefront of innovation in the wine sector. Through this union with Enartis, WINEGRID gains access to a significantly expanded global market presence, allowing its innovative liquid monitoring solutions to reach a broader audience in the wine industry.

Business Focus and Technology

WATGRID has focused on developing Internet of Things (IoT) solutions for liquid monitoring, with particular emphasis on the wine industry through its WINEGRID product line. The company's technology enables:

• Precision winemaking through advanced monitoring solutions
• Real-time data collection and analysis for wine production processes
• Digital transformation of traditional winemaking practices

The company's Digital Juice System, developed in partnership with DIEMME Enologia and G3 Enterprises, has been recognized for its technological innovation in the international winemaking scene.

Market Position Prior to Acquisition

Before being acquired by Enartis, WATGRID had established itself as an innovative technology provider in the wine industry. The company's solutions were recognized by more than 800 wine producers as addressing key challenges in the winemaking industry, demonstrating significant market validation for its technology.

The acquisition by Enartis suggests that WATGRID had developed valuable intellectual property and market position that made it an attractive acquisition target for larger industry players looking to incorporate innovative monitoring technologies into their product offerings.

Sources: - WATGRID – Internet of Things for Liquid Monitoring

• Watgrid company information, funding & investors | Dealroom.co
• Watgrid company information, funding & investors
• Watgrid - Portugal Ventures

3 The Press Releases

WATGRID LDA: A Portuguese Innovator in Wine Technology

WATGRID LDA, a Portuguese company, is renowned for its innovative wine production monitoring technology, known as WINEGRID. While there is no specific mention of WATGRID LDA as an EIC Accelerator winner in the provided search results, WINEGRID has made significant strides in the wine industry.

Technology Advancements

WINEGRID offers a real-time and remote monitoring platform for winemakers. It utilizes sensors placed inside wine vats to continuously measure critical parameters during fermentation, providing valuable insights that enhance wine quality and reduce costs. This technology has been recognized for its innovative approach to smart winemaking, integrating IoT (Internet of Things) principles into traditional winemaking processes.

Partnerships and Acquisitions

WATGRID's WINEGRID technology has caught the attention of major players in the wine industry. Notably, Enartis acquired WINEGRID to further its goal of promoting "smart winemaking" worldwide. This acquisition aimed to help wineries increase efficiency by leveraging AI and advanced algorithms for predictive analysis during wine production.

Awards and Recognition

WINEGRID received the Technical Innovations contest award at ENOMAQ for its Second Fermentation Monitoring System. This recognition highlights WINEGRID's innovative solutions for the wine sector, solidifying its position as a leader in winemaking monitoring.

Funding

While WATGRID received funding from European Horizon 2020 and national financing programmes for its WINEGRID project, there is no specific information available about receiving EIC Accelerator funding in March 2022.

Conclusion

WATGRID LDA is a pioneering company in Portugal, focusing on cutting-edge wine production technologies. Its innovative WINEGRID system has gained international recognition and support from major wine industry players.

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Sources: - EIC Accelerator winners March 2022

• WINEGRID: Intelligent Wines Sogrape
• WINEGRID won ENOMAQ's Technical Innovations contest
• Enartis acquires Winegrid
• Winegrid – SME instrument phase 1

4 The Technology Advancements

WATGRID LDA: Current Capabilities and Advancements

WATGRID LDA, known in the market as WINEGRID, is a Portuguese company specializing in innovative technological solutions for precision winemaking. The company has developed and patented technology for monitoring wine production using sensors that collect real-time data on fermentation and other important parameters. This data is processed by AI software within a proprietary SaaS platform, providing valuable insights to winemakers and helping them make informed decisions to reduce production costs and improve wine quality.

Current Capabilities

WINEGRID's current capabilities include:

• Real-time Monitoring: Utilizing fiber optic sensors and IoT technology to monitor critical parameters such as density, turbidity, color, level, temperature, and alcohol content during vinification.
• AI-powered Analysis: Processing data with advanced algorithms to provide real-time analysis and predictive insights, minimizing the need for manual sampling and analysis.
• Integration and Scalability: Offering a cloud-based software solution that can scale to any size of wine production, providing winemakers with anytime, anywhere access to monitoring data.

Advancements Since EIC Accelerator Funding

Since receiving the EIC Accelerator funding in March 2022, WATGRID LDA has made significant advancements:

• Acquisition: Majority shares of WATGRID were acquired by the Esseco Group, an Italian multinational operating in the alcoholic beverage sector, in November 2023. This acquisition is expected to enhance WINEGRID's global presence and technological offerings.
• Partnerships and Demonstrations: WINEGRID has demonstrated its technology in various markets, including collaborations with wineries like Quinta da Pacheca and Boathouse Vineyards, and a scientific partnership with the Bayerische Landesanstalt für Weinbau und Gartenbau in Germany.
• Awards and Recognition: WINEGRID won the Technology Innovation Award at SIMEI 2022 for its Digital Juice System, a collaboration with DIEMME Enologia and G3 Enterprises.

New Features and Demonstrations

WINEGRID continues to innovate and demonstrate its technology: - Digital Juice System: This award-winning technology optimizes and monitors pressing cycles using IoT, AI, and advanced sensors, making the process more flexible and autonomous.

Market Demonstrations: WINEGRID solutions are being implemented in various wineries globally, such as Mildiani Family Winery in Georgia, where they monitor wine fermentation in real-time.

New Patents, Studies, or Trials

While there is no specific information on new patents filed or scientific studies published by WATGRID LDA since the funding, the company continues to focus on enhancing its existing technology through miniaturization and integration with automation equipment.

Sources

• WATGRID – Internet of Things for Liquid Monitoring
• Esseco Group acquires majority shares in winetech company WATGRID
• Fiber optic sensor for real time analytics of the critical parameters for wine production
• WINEGRID won the Technology Innovation Award at SIMEI 2022

5 The Partnerships and Customers

WATGRID LDA's Strategic Partnerships and Market Positioning Post-EIC Accelerator

WATGRID LDA, developer of the WINEGRID IoT platform, has solidified key partnerships and customer relationships to advance its mission of digitizing global winemaking processes. Below is an analysis of their collaborations, customers, and market strategy since securing EU Horizon 2020 funding under grant agreements 832214 (Phase 1) and 874190 (Phase 2).

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Key Partnerships

• Nature: Worldwide distribution partnership.
• Purpose: Combine Enartis’ oenological expertise with WINEGRID’s real-time monitoring technology to enhance wine quality assurance globally. This collaboration accelerates market penetration by leveraging Enartis’ presence in 50 countries.
• Impact on WATGRID: Access to Enartis’ R&D infrastructure and client base of over 10,000 producers strengthens WINEGRID’s credibility as an industry-standard IoT solution.

• Nature: Scientific partnership targeting Bavarian wine digitization.
• Purpose: Co-develop process optimization tools for vineyards in Germany, focusing on operational efficiency gains through sensor-driven analytics.

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Notable Customers

• Boathouse Vineyards (Michigan, USA): Implemented WINEGRID sensors across all production lines to improve fermentation control and reduce sampling waste.
• Quinta Nova de Nossa Senhora do Carmo (Portugal): Award-winning winery using over 50 WINEGRID devices to refine high-tech vinification processes in collaboration with Enartis Portugal.
• Château Margaux (France): Early adopter since 2018, utilizing density/temperature monitoring for automated pump-over triggers during fermentation.

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Market Positioning through New Relationships

The partnerships with Enartis and LWG position WATGRID as a leader in merging traditional winemaking with Industry 4.0 technologies:

• Technology Advancements: Integration with Enartis’ R&D pipelines allows iterative improvements to WINEGRID’s proprietary Oenosensing® fiber-optic sensors and AI analytics modules. The Phase 2 Horizon project focuses on scaling IoT hardware for diverse production sizes while maintaining >99% data accuracy.
• Scalability: The cloud-based architecture paired with compact hardware enables deployment across boutique vineyards to industrial-scale facilities—demonstrated by use cases from Michigan to Bavaria.

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Sources:

• WINEGRID – Internet of Things for Liquid Monitoring
• WINEGRID announces worldwide distribution partnership with Enartis
• Remote vinification monitoring solution
• Winegrid – SME instrument phase 2 details

6 The Hiring and Company Growth

WATGRID's Growth and Team Dynamics Post-EIC Accelerator Funding While specific headcount figures for WATGRID LDA (operating under WINEGRID solutions) are not publicly disclosed, the company’s growth trajectory since its 2022 EIC Accelerator win is evident through strategic partnerships, technological deployments, and international expansion. Key developments include:

• Strategic Acquisitions: WINEGRID was acquired by Enartis, an Italian multinational under the Esseco Group, enhancing its global reach across 50+ countries.
• Technology Deployment: Over 50 WINEPLUS sensors installed at multi-award-winning wineries like Quinta Nova de Nossa Senhora do Carmo, enabling precision monitoring of wine maturation.
• Industry Recognition: Won the Technology Innovation Award at SIMEI 2023 for its Digital Juice System, developed with partners DIEMME Enologia and G3 Enterprises.

Team Expansion and Hiring Trends
Though no explicit hiring announcements are listed:

• Event Participation: Active presence at industry events (e.g., Eastern Winery Exposition 2023; WINE ENG Australia) suggests roles in sales, engineering, or field support to manage global clientele.
• Post-Acquisition Growth: Integration into Enartis’ infrastructure likely necessitates cross-functional teams in R&D, logistics, and customer success to scale operations internationally.

Future Scaling Drivers
New team members would focus on:

No major management changes are reported post-acquisition beyond the alignment with Enartis’ leadership frameworks. Recent hires likely emphasize technical expertise to advance proprietary systems like e-bung® connected bungs and data analytics platforms.

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Sources

• WINEGRID – Internet of Things for Liquid Monitoring
• Watgrid | F6S
• Watgrid - Portugal Ventures

7 The Media Features and Publications

WATGRID LDA: Overview and Activities

WATGRID LDA, a Portuguese company, has been recognized for its innovative technological solutions in liquid monitoring and precision winemaking, particularly through its subsidiary WINEGRID. Since receiving the EIC Accelerator funding in March 2022, WATGRID has continued to advance in its field.

Media Features and Publications

WINEGRID, associated with WATGRID, has been prominently featured in several publications and events. It received recognition from WICA by EPAWI for offering solutions to major challenges in the winemaking industry. WINEGRID also won the Technology Innovation Award at SIMEI, an international exhibition, for its Digital Juice System in collaboration with G3 Enterprises and DIEMME Enologia. Additionally, WINEGRID showcased its cutting-edge digital monitoring solutions at the Eastern Winery Exposition, highlighting its role in advancing winemaking technology.

Podcasts and Interviews

There is no specific information available on podcasts or interviews featuring the team of WATGRID LDA. However, their participation in conferences and exhibitions suggests a strong presence in industry events.

Conference and Fair Visits

WINEGRID participated in several key events:

• SIMEI International Enological And Bottling Equipment Exhibition: WINEGRID presented its winemaking monitoring solutions and received the Technology Innovation Award.
• WINE ENG 2023: Collaborated with Enartis to showcase advancements in winemaking technology.
• Eastern Winery Exposition: Showcased digital monitoring solutions.
• Enomaq 2023: Featured its innovative solutions for wine, oil, and beer industries.
• Unified Symposium: Participated in Sacramento, CA, to highlight trends in viticulture and winemaking.

Involvement in Events

WATGRID's involvement in events is primarily through WINEGRID, focusing on promoting innovative solutions in winemaking. Their participation in international exhibitions and conferences underscores their commitment to advancing winemaking technology.

Key Milestones

• Acquisition by Enartis: WINEGRID was acquired by Enartis, an Italian multinational in oenological products and services.
• Partnership with Enartis: Collaborated for events like WINE ENG 2023 to promote winemaking technology.

Sources

• WATGRID – Internet of Things for Liquid Monitoring
• Category: News - WATGRID
• Watgrid - Portugal Ventures