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.
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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.
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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.
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