3Bee, D-Orbit, and Nano-Tech Are Awarded Funds from the EIC Accelerator

3Bee srl, D-Orbit spa, and Nano-Tech spa are the three Italian companies that have been selected by the European Innovation Council (EIC) following a call last June. A total of 47 European companies were selected to receive grants and equity, totaling €350 million, which is only 5 percent of the 648 European companies that submitted their proposals

The European Innovation Council (EIC Accelerator) was launched in March 2021 as part of the Horizon Europe program and after a pilot phase between 2018 and 2020. It has a budget of €1.6 billion for 2023, of which €1.13 billion is dedicated to the EIC Accelerator, which can provide grants of up to €2.5 million per startup and conduct equity investments with tickets ranging from €500,000 to €15 million.

Read more about the EIC Accelerator and find the most important financial news of the day with the Born2Invest mobile app.

In detail, 3Bee has been awarded €2.3 million in grants (Grant first) by the EIC Accelerator

3Bee is the leading climate tech company in protecting biodiversity through technology. 3Bee uses the honeybee as a fundamental bioindicator by collecting and interpreting data through innovative proprietary systems to monitor the health of bees, pollinators, and their connection to ecosystems. Founded in 2017 by i Niccolò Calandri and Riccardo Balzaretti, the company cashed in two grants totaling €1.5 million in April 2019 and June 2022.

Moreover, in December 2022, teh company closed a €5 million round underwritten by AgFunder Grow Impact Fund, Anya Capital, and ESA – European Space Agency.

Thanks to the EIC call, 3Bee will go to test in Italy, France, Germany, and Spain on a total of 250 sites the Element-E protocol, the terrestrial biodiversity monitoring protocol developed by the climate tech in collaboration with prestigious Italian universities, including the University of Turin and the University of Naples Federico II, and prestigious research centers such as Crea, with the financial support of ESA (European Space Agency) and the Campania Region.

The Element-E methodology will make it possible to monitor and quantify, thanks in part to artificial intelligence, the impact of regeneration projects developed in accordance with the new European regulatory framework, in particular the CSRD (Corporate Sustainability Reporting Directive) and the Nature Restoration Law, which require companies to assess and report on their impact, both at the level of the individual site and the entire supply chain.

As for D-Orbit spa, the Italian scaleup specializing in space logistics was awarded a mix of grants and equity from the EIC Accelerator

This is not the first time the scaleup has obtained funding from the EIC Accelerator. In fact, D-Orbit obtained a Phase 2 Grant from the EIC between 2015 and 2018 for about €2 million.

According to the D-Orbit fact sheet on the EIC website, D-Orbit has applied to the EIC for a €2.5 million grant and a €15 million equity investment to fund its Astrolift project, an acronym for Autonomous Spacecraft Technology for Repair Operations, Lifespan Improvement, and Flight Testing.

This is the development and production of GEA, a spacecraft that will operate in geostationary orbit for in-orbit maintenance (IOS) of commercial satellites. It is a disruptive invention for the industry. Currently, in fact, once satellites reach orbit, there is no way to inspect, upgrade, or repair them. The EIC announcement award comes as the scaleup is gearing up for a major new round of collection.

In fact, there is already written expression of interest to participate in the round from an international corporate company and other international investors. The round would then be an opportunity for the conversion into equity of the portion of the still outstanding convertible bonds and the participatory financial instruments (SFPs) issued between 2022 and March 2023.

Nano-Tech has also received a grant from the EIC Accelerator

Finally, Nano-Tech, which applies the field of nanotechnology to advanced materials, has been awarded a grant (Grant first) of an unspecified size from the EIC Accelerator to develop innovative materials for the aerospace industry that resist high temperatures and flames, are recyclable, and have low environmental impact (C-Preg 400 project).

Founded in 2011 by Donato Giovannelli, Patricia Barcala Domìnguez, and Valerio Alessi, the scaleup was selected for the Clean Tech & Industrial category of the 2022 edition of Unicredit Start Lab.

__

(Featured image by jarmoluk via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Be Beez. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.