Outcomes

Signs of scaling after the EIC Accelerator

Being alive is not the same as growing. For every company we investigate, we record whether there is public evidence of scaling since the award, and the one fact that shows it.

1332 of 1,332 winners checked

100% covered

We investigate the winners one by one, in the order of the official results tables.

Scaling signals of the 1332 companies checked so far

  • Scaling436 (33%)
  • Not scaling320 (24%)
  • Scaling unclear576 (43%)
  • Scaling: Public evidence of growth since the award: more staff, rising revenue, a new funding round, or production or customers at scale
  • Not scaling: Evidence of standing still or shrinking: flat or falling staff, losses without a new round, or layoffs
  • Scaling unclear: No numbers are public, which is common for 2025 and 2026 awards

Every number on this page counts only the 1332 companies checked so far, not all 1,332 winners. The first companies covered are not a random sample, so read the shares as an early picture.

By cut-off

By cut-off
cut-offCheckedScalingNot scalingScaling unclear
January 20196819(28%)25(37%)24(35%)
April 20198333(40%)22(27%)28(34%)
June 20199535(37%)38(40%)22(23%)
October 20197533(44%)26(35%)16(21%)
January 20204422(50%)12(27%)10(23%)
March 20207024(34%)30(43%)16(23%)
May 20206427(42%)28(44%)9(14%)
October 20203616(44%)13(36%)7(19%)
June 20216312(19%)9(14%)42(67%)
October 20219724(25%)34(35%)39(40%)
March 20227010(14%)26(37%)34(49%)
June 2022713(4%)18(25%)50(70%)
October 2022768(11%)14(18%)54(71%)
January 2023305(17%)4(13%)21(70%)
March 20234711(23%)5(11%)31(66%)
June 20234417(39%)6(14%)21(48%)
November 20234119(46%)4(10%)18(44%)
March 20246523(35%)4(6%)38(58%)
October 20246632(48%)1(2%)33(50%)
March 20253716(43%)0(0%)21(57%)
October 20255626(46%)1(2%)29(52%)
May 20263421(62%)0(0%)13(38%)

By country

By country
countryCheckedScalingNot scalingScaling unclear
France17661(35%)40(23%)75(43%)
Germany16960(36%)29(17%)80(47%)
Spain12039(33%)23(19%)58(48%)
Netherlands11952(44%)16(13%)51(43%)
Israel9117(19%)21(23%)53(58%)
Sweden7926(33%)26(33%)27(34%)
United Kingdom7222(31%)23(32%)27(38%)
Finland6223(37%)19(31%)20(32%)
Denmark6115(25%)27(44%)19(31%)
Ireland5112(24%)6(12%)33(65%)
Switzerland5124(47%)9(18%)18(35%)
Italy5019(38%)9(18%)22(44%)
Belgium4512(27%)19(42%)14(31%)
Norway3713(35%)12(32%)12(32%)
Austria3211(34%)6(19%)15(47%)
Portugal257(28%)2(8%)16(64%)
Poland183(17%)9(50%)6(33%)
Estonia133(23%)8(62%)2(15%)
Iceland92(22%)2(22%)5(56%)
Hungary81(13%)5(63%)2(25%)
Bulgaria71(14%)2(29%)4(57%)
Czechia63(50%)0(0%)3(50%)
Luxembourg53(60%)0(0%)2(40%)
Greece41(25%)0(0%)3(75%)
Slovakia43(75%)0(0%)1(25%)
Slovenia40(0%)3(75%)1(25%)
Romania31(33%)2(67%)0(0%)
Croatia20(0%)0(0%)2(100%)
Latvia20(0%)1(50%)1(50%)
Lithuania21(50%)0(0%)1(50%)
Turkey20(0%)0(0%)2(100%)
Ukraine21(50%)1(50%)0(0%)
Cyprus10(0%)0(0%)1(100%)

By funding type

By funding type
funding typeCheckedScalingNot scalingScaling unclear
Blended finance654226(35%)110(17%)318(49%)
Grant only507184(36%)168(33%)155(31%)
Grant first16725(15%)41(25%)101(60%)
Equity only41(25%)1(25%)2(50%)

The evidence, company by company

Scaling (436)

  • France · October 2019

    Staff grew from 15 in 2019 to about 60 in 2026; Series B led by AVANT BIO in January 2026

  • Spain · January 2020

    Raised a €7M round in March 2024 and won €1.89M for its share of the EU PHOENIX trial from June 2026

  • France · March 2024

    Launched a satellite in January 2025, released a data platform and raised capital in 2026 for a €12M GEN2 plan.

  • Acorai ABActive

    Sweden · June 2023

    Raised $4.5M with the EIC Fund in 2024 and reports a $1M paid pilot in Singapore in 2025.

  • United Kingdom · October 2025

    Average staff rose from 10 to 25 between the 2022 and 2025 accounts; a £4M package closed in 2026

  • Italy · October 2025

    Raised €3.15M in a round led by 360 Capital in November 2025, after a 2023 pre-seed

  • Israel · January 2020

    Average staff rose from 39 to 58 and a $39.6M Series B arrived, per the 2024 group accounts

  • Portugal · October 2019

    Revenue of €8.94M with 46 staff in 2023; about 60 staff when Carrier bought it in 2025

  • Spain · March 2020

    €5.4M equity round in 2023, then capital increases registered in 2024, 2025 and 2026

  • Austria · October 2021

    CORDIS reports scale-up from a few kg to about one tonne per day; actual output and sales volumes not disclosed

  • Netherlands · October 2020

    Staff rose from 10 to 58 between the 2021 and 2024 accounts; balance sheet grew from €0.73M to €12.1M

  • Netherlands · March 2020

    Its lung nodule AI ran at 15 of 19 NHS lung health check pilots in 2021; RadNet bought it for $45.2M in 2022

  • Finland · June 2019

    Revenue rose from €1.61M in 2022 to €3.54M in 2025 after a 2021 IPO; H1 2026 revenue fell 46%

  • Sweden · October 2024

    Harvested its first trees in a production forest in May 2026 and reports an EIC equity term sheet in September 2026

  • France · January 2020

    €120M raised in 2023; 218 staff in the 2025 CSR report, against 125 cited in 2020

  • France · June 2021

    Company reports EUR 180M raised and 250+ staff (Oct 2026); GENCI confirms a purchase, with user access in 2027.

  • Austria · June 2022

    Installed EuroHPC's first quantum computer in Poland in 2025 and joined Amazon Braket; revenue not published

  • France · May 2020

    EIC Fund and PRO BTP equity from 2021, 32 staff by 2024 and a 2025 combination with Trace

  • Spain · October 2019

    €3M round closed in 2023 with the EIC Fund; a further capital increase was registered in April 2026

  • Norway · April 2019

    Revenue rose from NOK 7.5M in 2023 to NOK 25.0M in 2025, then a €16M equity round closed in July 2026

  • France · May 2026

    Raised a €6M equity seed round in March 2026, four times its €1.5M round of October 2023

  • Switzerland · March 2020

    Closed an oversubscribed pre-Series A round led by HEMEX in April 2025, after a CHF 1M seed round in 2020

  • France · October 2019

    Revenue rose from €244k in 2020 to €567k in 2024; new equity in 2024 and two capital increases in 2026

  • AORTYX SLActive

    Spain · October 2021

    €13.8M Series A led by Ship2B Ventures and Clave Capital in June 2025 to reach first-in-human

  • United Kingdom · October 2019

    Average staff rose from 26 in 2019 to 47 in 2024, after a peak of 54; cash reached £4.05M at the end of 2024

  • ARCHEONActive

    France · March 2020

    Raised €5.5M in 2022 and €7.5M in October 2026; staff grew from 17 in 2022 to 25 per Vestbee

  • arcsec NVActive

    Belgium · March 2023

    Profitable every year from 2022 to 2025; staff grew from 4.2 to 17.8 FTE and gross margin roughly tripled.

  • United Kingdom · October 2025

    Average staff rose from 7 to 10 and a £4.7m pilot plant was built, per the 2025 accounts

  • Sweden · October 2025

    Staff grew from 3 to 11 between the 2023 and 2025 accounts, and a €3.3M round closed in April 2026

  • Spain · October 2025

    A €14.5M EIC package announced in March 2026, after a €2.8M seed round in October 2023

  • Switzerland · April 2019

    Company says sold in 19 countries by 2026; crowdfunding raised at least €1.95M in 2025 and €836,285 in 2026

  • Germany · October 2024

    Raised a €25.7M Series A in April 2026 to build three PHOENIX 2 vehicles, with seven missions contracted

  • Germany · October 2024

    Raised a €4.5M pre-seed round in September 2025 led by b2venture; the company names Siemens and Vestas as clients

  • France · March 2024

    Raised a €50M Series B with the EIC Fund, reports €340M total funding and 20 firm ERA orders.

  • Austria · June 2019

    Share capital rose from €1.5M to €2.28M after 2022; new shareholders registered in October 2025 and April 2026

  • Germany · January 2023

    €30M Sequoia-led round in 2025; SAP and Fresenius invested in 2026; won Klinikum Stuttgart and Braunschweig tenders.

  • Austria · May 2020

    €30M round led by Armira Growth in 2026; over 750 clients in more than 30 countries

  • Netherlands · June 2023

    Raised more than $250M in February 2026 and reports deployments with over 600 customers.

  • Belgium · May 2026

    A €9M first close of its Series A in April 2025; staff rose from 5.4 to 7 FTE in the 2025 accounts

  • Belgium · May 2020

    Staff rose from 7.7 FTE in 2020 to 20.2 in 2025 after a €5.96M round with the EIC Fund in 2022

  • Poland · June 2019

    Parent raised share capital from PLN 8.1M in 2021 to PLN 38.1M in 2026; distribution deals signed in 2026

  • United Kingdom · October 2024

    Raised a $10M seed round in May 2026 from World Fund, Breakthrough Energy Discovery, IP Group and others

  • Finland · November 2023

    Revenue grew from €3.4M in 2022 to €7.7M in 2025 after a €22M Series B in 2024.

  • Spain · March 2025

    Axon Partners and CDTI invested in March 2026; registered share capital reached €15.6M in June 2026

  • Belgium · June 2022

    Staff rose from 7.4 to 17.9 FTE in 2022-2025 and gross margin from €1.02M to €1.75M, with profits each year

  • Germany · March 2025

    Moved into 1,400 square metres of laboratories in 2025, with about 25 staff reported in late 2024

  • Israel · January 2020

    Raised a $50M Series D in June 2025 and reported 1,240 BeeHomes, against 12 units built in its EU project

  • Israel · October 2021

    Voyager DSLT launched in the US (Feb 2025) and select EU markets (Sep 2025); units and milestones undisclosed.

  • Italy · November 2023

    Reports €24M raised in 2024, counting the €10M EIC award, and won trial approvals in the UK, Italy and Belgium.

  • Spain · October 2019

    Raised a $15M Series B in 2021; team grew from 20 at the 2019 application to 50 in April 2026

  • Israel · March 2023

    Over 11,000 procedures, about $14.5M revenue in 2025, 130 staff; Olympus agreed to buy it for $270M.

  • Estonia · May 2020

    Sales rose from €1,100 in 2020 to €337,249 in 2025; staff from 3 to 9 by Q3 2026

  • BIOWEGActive

    Germany · October 2021

    €18M equity and €10.3M EU funding for an Elsdorf plant; up to 10,000 t/year claimed, regional fiche lists 5,050 t/year

  • Germany · January 2019

    ITP Aero took about 10% in 2023; share capital rose from €120,000 to €157,670 by March 2026.

  • Sweden · October 2024

    Raised $50M in December 2025; filed what it calls Sweden's first commercial reactor park application in May 2026

  • Switzerland · January 2019

    Raised a CHF 12M Series C led by Emerald in June 2023; company reports 500+ systems by 2026

  • Spain · April 2019

    A Zamit Capital fund took a board seat with a capital increase in November 2024.

  • Spain · June 2021

    Ships fitted with eSAILs rose from 3 in 2023 to 13 by September 2026

  • Israel · October 2019

    Seed round grew from $8.4M in 2022 to $25M in 2025; a 5,000-litre commercial plant opened in 2024

  • Netherlands · October 2024

    Opened a 100 tonne-per-year demonstration plant in June 2026 and sold a 500 tonne carbon removal pre-purchase

  • Greece · May 2020

    €8.6M Series A in 2024 and a 150 MW module line in Patras commissioned in February 2025

  • BTRY AGActive

    Switzerland · May 2026

    Raised a $5.7M seed round in November 2025, with the capital increase filed in the register

  • Israel · March 2023

    Completed a 244-patient pivotal trial and raised a $21M Series C, including the EIC, in May 2026.

  • Netherlands · October 2024

    Building a 100,000 tonne-per-year commercial plant with Dura Vermeer and signing partnerships in Finland and Portugal

  • CAILABSActive

    France · March 2022

    Company says over 10 ground stations under contract; €57M financing in 2025 and a factory planned for 50 stations a year

  • Germany · March 2024

    Signed a $30.6M Frontier offtake, raised a €14.5M seed and won an €8.2M German federal grant.

  • CARTHERAActive

    France · March 2020

    €42M Series B in 2023 and a 560-patient pivotal trial running at 56 listed sites in 2026

  • Spain · March 2020

    Parent CARTO raised a $61M Series C in December 2021, with the EIC Fund taking part.

  • Spain · March 2024

    Awarded a €20M CBE JU grant with Arkema and Evonik; says its €120M Sines plant has key approvals.

  • Switzerland · January 2019

    Staff grew from 38 in 2020 to more than 80 in 2023; share capital raised in 2023 and 2025

  • Sweden · October 2019

    Revenue rose from SEK 107.0M in 2021 to SEK 132.9M in 2025, and it bought Finland's Fatex in 2025

  • Sweden · November 2023

    Won a SEK 54M grant for its first production line in 2025 and raised €6.9M with a Japanese partner in 2026.

  • Denmark · May 2020

    €4.9M seed round in 2024; average staff rose from 7 in 2021 to 16 in the 2025 accounts

  • Germany · January 2020

    Staff rose from 21 in 2019 to over 70 by 2025; share capital was raised again in 2024 and twice in 2026

  • Denmark · May 2020

    Average staff rose from 1 in 2023 to 9 in 2025, and total assets from DKK 18.1M to DKK 54.4M

  • Denmark · January 2019

    Average staff rose from 12 in 2019 to 27 in 2025, and contracted recurring revenue grew 117% in 2025

  • United Kingdom · January 2019

    Average staff grew from 12 in 2019 to 23 in 2025; new equity came in 2023, 2025 and 2026

  • Netherlands · June 2023

    Made its first industrial-scale delivery in December 2025 and is engineering a €100M-plus, 20,000-tonne plant.

  • Estonia · October 2019

    Lixea Sweden staff rose from 2 to 6 in 2022-2024; it won a €21.5M Innovation Fund grant in 2025

  • Spain · January 2020

    2025 revenue of €7M and 100 staff reported in February 2026, after 20 project hires in 2020

  • Luxembourg · October 2022

    Company-reported certified German facility, carmaker partners and projects, €20M announced in 2026.

  • Italy · October 2021

    €11.8M round with CDP and the EIC Fund; CRMA strategic project; plans 3,000 to 20,000 t/yr capacity

  • Netherlands · March 2020

    €11M Series A in 2022, then strategic stakes from Sekisui (2023) and Teijin (2024) and a Tokyo unit in 2025

  • Spain · June 2019

    Raised €100M (€70M equity, €30M debt) led by Ithaka in April 2026 after an €80M bond issue in 2024

  • Israel · October 2019

    Raised a $12M Series A in November 2022 and added named customers such as Sun World and Wish Farms by 2026

  • Germany · October 2025

    A €6.5M seed round in January 2026, then a 1,000-tonne demonstration plant opened in April 2026

  • Sweden · May 2026

    A SEK 16M CogniCal order and a second Nowaste picking cell, both announced in early 2026

  • United Kingdom · April 2019

    Staff rose from 19 in 2020 to 92 in 2025; a $18M Series B2 led by Inter IKEA was announced in 2025

  • Finland · October 2021

    €8M Series A with the EIC Fund (2023); Kontrox LASE 16 launched 2025; EIC says 2025 trial capacity fully booked

  • Germany · March 2022

    Two satellites launched in 2025 and a €37M Series A in 2026, which the company says brings total funding to 75 million

  • Denmark · June 2019

    Average full-time staff rose from 19 in 2019 to 46 in 2025; InfraVia injected DKK 15M of equity in 2025

  • Netherlands · October 2025

    Balance sheet total rose from €0.48M (2022) to €3.17M (2025) per filed accounts; new round in July 2026

  • Ireland · April 2019

    Raised €2.8M in 2024, doubled its staff within six months and began retail sales in Ireland and the UK in 2026

  • Sweden · October 2024

    Closed a €53M B round, won €70M of other EU funding in 2025 and reports 110 staff with C5 in manufacturing

  • United Kingdom · October 2025

    Average staff rose from 4 to 9 between the 2022 and 2025 filed accounts

  • CREAL SAActive

    Switzerland · October 2019

    Closed an $8.9M equity round led by ZEISS in July 2025, taking total funding past $32M

  • Germany · October 2020

    Closed a €20M Series B in October 2021 led by Ranpak, with €3M from the EIC Fund

  • France · March 2020

    Revenue doubled from €9.01M in 2020 to €18.32M in 2024 in the filed accounts

  • Ireland · April 2019

    Series B grew from $16M in 2024 to $36M in June 2026, with BGF and the EIC as new investors.

  • Cubbit SrlPivoted

    Italy · April 2019

    Revenue rose from €428,809 in 2022 to €1,367,189 in 2024; it raised $12.5M in July 2024.

  • Culinar OyAcquired

    Finland · June 2019

    $20M Series A in 2020; Finnish entity revenue rose from €1.5M in 2020 to €7.51M in 2023

  • Finland · January 2023

    Revenue rose from €0.16M in 2023 to €1.19M in 2025; used in 21 US states; $14M Series A in July 2026.

  • Israel · October 2024

    Came out of stealth in October 2025 with $26M raised and reported field tests in Italy and Singapore

  • D-CRBN BVActive

    Belgium · November 2023

    Raised a €17.5M Series A in May 2026; staff grew from 1.1 in 2022 to 7.8 in 2025.

  • Italy · June 2023

    Raised a $53M Series D in January 2026 and holds a €119.6M ESA contract for its GEA servicing vehicle.

  • Daedalean AGAcquired

    Switzerland · October 2019

    CHF 53M round in January 2022; staff grew from over 50 in 2022 to over 150 by 2024

  • Spain · October 2025

    US parent Dalan Animal Health closed a $3M SAFE seed round in November 2025

  • Switzerland · October 2019

    CHF 15M round led by Taranis in April 2026, after a US DOE grant of about $6M in January 2025

  • Netherlands · October 2021

    200 thrusters on 50+ satellites; group revenue over $15M; $25M Series B in June 2026

  • Italy · October 2020

    Revenue rose from €0.51M in 2020 to €6.0M in 2025, with a €15M Series A in 2024

  • Germany · October 2025

    Announced a large-series supplier nomination from an unnamed global carmaker in October 2026, with production from 2028

  • Netherlands · June 2023

    Reported 1.84 million onboarded drivers to the EIC and raised €12.5M in 2025.

  • Netherlands · October 2019

    €8M Series A extension in December 2025 took total capital raised to €15M

  • Netherlands · June 2019

    €4M round from Value Creation Capital and the EIC Fund in 2023; €1.54M EIC Transition share in 2026

  • Spain · April 2019

    Closed a €14.7M equity round in September 2026, with €7.2M from the Spanish state's SETT.

  • Germany · March 2024

    Closed an oversubscribed Series A in 2024, opened a US office and won a 2 kW array order from Intuitive Machines.

  • DePoly SAActive

    Switzerland · October 2025

    Seed round reached $23M in April 2025 and a 500-tonne showcase plant opened in July 2026

  • Germany · May 2026

    Closed a €12M round in September 2025, per the company, about €8M of it from Companisto investors

  • DIAPATH SPAAcquired

    Italy · October 2019

    Revenue rose from €18.1M in 2019 to €36.4M in 2025, and staff reached 153 in the 2025 accounts

  • Portugal · April 2019

    Raised a $7.15M Series A led by Armilar in October 2022, a year after the EIC project ended.

  • DigiFarmAcquired

    Norway · October 2021

    60+ enterprise clients in 30+ countries; 750M hectares processed; 2024 revenue NOK 21.4M

  • France · March 2022

    Factory opened, €30M Series A completed in 2025 and a multi-year order for several hundred thousand modules a year

  • Germany · May 2020

    Revenue rose from €9.9M in 2022 to €11.4M in 2023; average staff from 76 to 83

  • Czechia · April 2019

    Average staff rose from 4.67 in 2019 to 32 in the 15 months to March 2025, per the Czech filed accounts

  • Denmark · June 2023

    Staff rose from 10 in 2023 to 23 in 2025; first 250 kW unit delivered to a customer in 2026.

  • EBAMed SAActive

    Switzerland · January 2020

    €14.35M Series A in June 2023, extended to €16M in January 2025, with the EIC Fund among investors

  • France · June 2019

    Closed a €16M Series B in 2025 and bought the Albi boilermaker DIVINA in 2026

  • ECOATActive

    France · June 2019

    Announced €10M in 2023 and €21M in 2025 (€18M equity, debt pending) to expand binder production

  • Austria · March 2024

    Raised €10.5M led by KSB with the EIC Fund in 2025 and won Innovation Fund support for a 100-unit-a-year factory.

  • Switzerland · May 2026

    A 2026 capital increase created seed preferred shares and converted CHF 5.25M of claims, per the register

  • Germany · October 2024

    Raised a €57M Series A in May 2026 and reported over €54M of signed orders and more than 100 staff

  • France · October 2022

    Revenue rose from €106k in 2021 to €2.27M in 2023, followed by a $48M Series B and US launch

  • France · January 2019

    Series B of $30M in 2023, expanded to $35M, plus a $5M French state grant in 2025

  • France · April 2019

    Raised €45M in July 2026; staff grew from 32 in 2021 to nearly 250 in 2026

  • Elmery OyActive

    Finland · May 2026

    Staff rose from 2 to 12 and revenue from €93,000 to €323,000 between 2022 and 2025, per Asiakastieto

  • Israel · January 2019

    Listed on Nasdaq in 2024; 2025 revenue $1.14M against $108k in 2024, mostly from buying Evoke Neuroscience

  • Switzerland · April 2019

    CHF 23.5M Series B in December 2024; over 2,500 vehicles moved daily per a July 2026 release

  • Sweden · October 2024

    The EIC Fund joined a SEK 45M round led by Turbine Capital in May 2026, after verification at a Stora Enso paper mill

  • Bulgaria · October 2024

    Raised $205M in September 2026; 2025 revenue reported at €34M to €35M, up more than 55%

  • Germany · October 2019

    Grid unit spun off in 2021 with E.ON and N-ERGIE as customers; Implisense lists 46 staff there for 2024

  • Italy · October 2022

    Full-scale 200 MWh plant since 2025; Google partnership; projects planned in US, India, Australia.

  • Germany · October 2022

    Over one million inspections for Shell, BP, BASF and others and a $13.5M Series A in 2025, per the company

  • Norway · January 2019

    Paid-in equity rose from NOK 167M to NOK 354M in 2023 to 2025; storage orders grew from 5 MWh to 40 MWh by 2026

  • Italy · June 2021

    Account summaries report revenue growth from €863,600 in 2023 to €3,719,050 in 2025, with profits in 2023–2025

  • Austria · April 2019

    Raised €6M in 2022 and a further round in 2024; won a contract for nearly 300 US turbines in 2026.

  • Iceland · October 2019

    Raised a €20M Series A in 2021; team grew from 9 permanent staff to 31 people by January 2024.

  • Sweden · April 2019

    Staff rose from 20 in 2020 to 41 in 2024; SEK 69M raised in May 2024 and an own factory opened in 2023

  • EPSE OyActive

    Finland · January 2019

    Revenue rose from €354,000 in the year to June 2021 to €5.96M in 2024 and €4.79M in 2025, both profitable

  • Austria · June 2019

    Staff grew from 6 to 36 between the 2019 and 2025 accounts, after a €2.5M round in 2021

  • France · March 2020

    Raised €8M in 2023 and €2.85M in 2025 and moved EXL01 into four oncology Phase 2 trials from 2024

  • Spain · October 2020

    Fourth strategic round closed in September 2026; staff passed 40 by 2023 per its CORDIS report

  • Netherlands · March 2025

    Raised a €2.5M seed round in 2024 and signed a €2.49M EIC grant in 2025; networks in at least three countries

  • Finland · March 2020

    Raised €40.1M in an April 2026 rights issue to fund a randomised Phase 2b trial

  • Germany · November 2023

    Raised €100M in November 2025 and hired a string of senior semiconductor executives in 2026.

  • Italy · March 2023

    Raised an €8.64M Series A in 2025; revenue up 73% to €1.64M in 2025; 750 probes in 25+ countries.

  • United Kingdom · May 2026

    Average staff rose from 3 to 15 between the 2023 and 2025 accounts; a £7.7M round closed in 2024

  • Switzerland · June 2019

    CHF 13.7M Series B in 2022, a CHF 10M round in 2024 and 1,000 units deployed by April 2026

  • Spain · January 2020

    €4.5M round in 2021 and €11.2M Series A led by Kibo Ventures in November 2023

  • Czechia · April 2019

    Parent sales rose from CZK 0.98M in 2019 to CZK 43.3M in 2025; average staff rose from 6 to 13 in 2025.

  • Norway · April 2019

    Staff rose from 32 in 2019 to 72 in 2026; revenue grew from NOK 89.4M (2023) to NOK 119.1M (2025)

  • Spain · March 2024

    Closed a €4M Series A co-led by Lombard Odier and the EIC Fund and opened a 5,000 m² industrial plant in 2026.

  • FYTEKO SAActive

    Belgium · January 2020

    €13M Series B in 2025; average staff rose from 8.7 to 15.7 FTE between the 2021 and 2025 accounts

  • Austria · May 2026

    A €10M round reported in October 2025, and staff reported at 22 in 2025 and 27 in March 2026

  • Spain · June 2019

    Share capital raised from €280,000 to €1.951M in 2025; 2024 sales in the €1M to €2.5M band

  • Ireland · May 2020

    Revenue of £264,000 in the first half of 2026 against nil a year earlier, after a €5.7M investment in 2025

  • Germany · October 2020

    Grew from a few founders to around 20 staff and three large moulding machines by 2025

  • Spain · October 2024

    Completed a $20M Series A in January 2026 backed by NYK Line and Stolt Ventures to scale across ports

  • Germany · November 2023

    Grew to 23 staff without outside investors and produces series of up to 12,000 parts.

  • Spain · April 2019

    Raised a $4.6M seed round led by Hoxton Ventures in June 2023

  • United Kingdom · March 2020

    Turnover rose from $0.89M in 2021 to $6.60M in 2024 in the group accounts

  • France · March 2023

    €15M Series A in 2024, Airbus contracts, and a DGA framework worth up to €120M in 2026.

  • Netherlands · March 2025

    Announced a €10M equity seed round and €6M of grants in April 2026

  • Italy · January 2019

    Revenue rose from €13.5M in 2019 to €14.5M in 2025, with a profit in every year

  • Sweden · January 2020

    Raised about SEK 64M in 2025 and 2026 and started a Phase III trial of Alpha1H in September 2026

  • Sweden · May 2020

    Raised a $107M Series B in 2024 and $40M more in 2025; flew its X1 demonstrator in August 2026

  • France · May 2020

    Sold to Allegro for $20.2M in 2022; Allegro launched Power-Thru drivers built on it in 2023 and 2024.

  • France · October 2024

    Raised a €15M Series A with the EIC Fund in November 2025 and planned to double its workforce by 2026

  • Spain · March 2025

    A second Series B close in June 2026 took the round above €42M, with the EIC Fund joining

  • Germany · June 2019

    Staff grew from 20 at the 2019 EIC project start to more than 100 in 2026; over €50M equity raised in September 2026

  • Finland · March 2024

    Raised $7.4M co-led by the EIC Fund in July 2026; revenue grew from €50k in FY2023 to €504k in FY2025.

  • Ignion SLActive

    Spain · March 2022

    Company reports 50% revenue growth and doubled shipments in 2024; devices using its parts rose from 25M to 60M+

  • Iktos SAActive

    France · October 2024

    Signed a multi-target Servier collaboration with a potential value above €1B in January 2026

  • Israel · June 2019

    Raised a $24M Series B1 in October 2020 and reported 228% growth in new annual recurring revenue

  • IMPLICITYActive

    France · March 2024

    Raised a $40M growth round in September 2026 and reports over 250 medical centres and 120,000 patients monitored.

  • Spain · June 2019

    Winery clients grew from over 100 in 2021 to 170 in 2024, when two funds bought 25%

  • Netherlands · January 2023

    IVDR-certified test being implemented in European hospital labs; $16M Series A co-led by NATO Innovation Fund, 2026.

  • Germany · October 2020

    Staff rose from 47 FTE to 132 on average by 2023; a Series B led by Piva Capital closed in January 2024

  • Netherlands · January 2023

    Launched Pulsar commercially in May 2025 after a $21M Series A; began work with ODM Joya by December 2025.

  • Norway · May 2020

    Revenue rose from NOK 2.4M in 2023 to NOK 6.6M in 2025, backed by new equity in 2024 and 2025

  • Austria · April 2019

    Alder bought a majority in 2023 and Insort bought TriVision in 2025; staff went from 30 in 2018 to a 51 to 100 band

  • Sweden · October 2019

    Net sales rose from SEK 6.3M in 2023 to SEK 14.5M in 2025 in the filed accounts

  • Italy · October 2025

    Team grew to 19 with five hires after CASSINI, per EUSPA in 2025; first US office opened in 2026

  • ION-XActive

    France · November 2023

    Raised a €13M Series A with the EIC Fund in December 2024 and flew its first thruster in 2025.

  • Spain · October 2025

    Raised a €15M seed round led by Amadeus Capital Partners in September 2026

  • Spain · October 2024

    Raised a $125M Series B in September 2026 co-led by Maverick Silicon and Light Street Capital, with Nvidia

  • Finland · March 2020

    Revenue rose from €16.4M in 2024 to €31.3M in 2025; listed on Nasdaq in July 2026 with over 400 staff.

  • Germany · January 2020

    €2.8M seed in 2022, a pre-Series A in 2024 and €1.05M crowdfunded in 2026; team of 10 in 2020, 17 in 2026

  • Finland · October 2024

    Raised a Series A led by Plural in April 2025, bringing total funding to $36.5M

  • France · January 2020

    €17M round in November 2023; Karos France reported €13.59M revenue in 2023, against €2.8M for Karos in 2020

  • Ireland · March 2020

    Raised a €5.65M Series A in June 2021; FuturaSun put its glass into a module line in 2026

  • KAYRROSAcquired

    France · June 2019

    Raised €40M in March 2022, taking total funding to €72M; 50 to 99 staff in the 2024 register

  • Germany · January 2020

    First part of a Series B led by DILO closed in June 2024 with a double-digit million euro sum.

  • Germany · March 2020

    Raised a €13M round in 2025, bringing total funding above €30M, with systems deployed worldwide.

  • France · June 2021

    EUR 16M raised in 2024; named applications and a 2026 SmartSolve partnership; sales growth unquantified.

  • Iceland · October 2020

    €6M Series A led by the NATO Innovation Fund in September 2026

  • France · October 2021

    €43M Series B package (Oct 2025) incl. bank and France 2030 funding; capacity target 1,500 implants/year

  • LEKATECH OYAcquired

    Finland · October 2021

    Bought by Normet (€484M 2023 sales) in 2024; Toras 35 in customer production use in 2026

  • Germany · June 2019

    €11.5M Series A extension in 2021 and capital increases in 2024 and 2026, per the register

  • Netherlands · October 2024

    Raised €40M in June 2026 with EIC Fund equity through STEP Scale Up, after €20M of EIB financing

  • Netherlands · January 2019

    Closed a €43M capital raise in January 2026; anode roll production began at PlantOne in 2026

  • Switzerland · January 2020

    More than 80 staff and 50% average yearly growth, as reported by Bits&Chips in December 2025

  • Germany · March 2022

    About 130 staff and €25M Series B in 2024, then a €28M+ round with the EIC in 2026

  • Austria · May 2020

    Staff grew from 20 in 2022 to 25 in 2025 after a €6M Series A in September 2022

  • France · November 2023

    Announced ~€50M financing in 2025 incl. €24M equity, brought its first radar online, won a CNES data contract.

  • Denmark · October 2021

    DKK 60M round with the EIC (Dec 2023); Q3 2026 samples announced; shipment unconfirmed as of 2 November

  • Ireland · March 2020

    Raised a $22M Series A3 in December 2023 and won three FDA 510(k) clearances in 2025 and 2026

  • Netherlands · March 2020

    Group turnover rose from €17.9M in 2022 to €23.5M in 2024; €20M EIB venture debt in 2024

  • Ireland · March 2023

    Raised $15M in 2024 and $21M in 2026, over $50M in total, for US expansion.

  • Finland · October 2024

    Revenue grew from €72k in 2021 to €1.3M in 2024; staff from 2 to 21 by 2025

  • Germany · November 2023

    Raised a €3M seed round in 2025, had 34 staff and issued new shares again in April 2026.

  • Spain · November 2023

    Raised an €8M Series A with the EIC Fund in 2025 and reports multi-million euro sales in several continents.

  • Switzerland · April 2019

    Raised a €17.9M Series B in October 2024 and opened an Italian subsidiary for manufacturing and trials.

  • Belgium · October 2025

    Raised €9.7M in 2025; equity rose from €3.98M to €11.05M in the 2025 accounts

  • Germany · April 2019

    Staff rose from 25 at the 2019 EIC application to over 60 in 2026, with no outside investors, the company says

  • United Kingdom · May 2026

    Average staff rose from 5 to 10 between the 2024 and 2025 filed accounts, after a 2024 seed round

  • Germany · March 2024

    Extended its Series B to €113M in 2025 with the EIC Fund, EQT Ventures and Siemens Energy, for €385M total funding.

  • Norway · April 2019

    Revenue rose from NOK 34.9M in 2020 to NOK 53.0M in 2025, and it bought Thing Technologies in 2025 or 2026

  • Ireland · November 2023

    Picked for ESA HydRON in-orbit tests in 2026; building a 40,000 sq ft factory it says will make thousands of terminals.

  • Denmark · May 2026

    Raised a DKK 22 million seed round led by Delphinus Venture Capital in 2026

  • Denmark · March 2020

    Average staff rose from 5 in 2020 to 31 in 2025, funded by equity rounds in 2021, 2023 and 2025.

  • Sweden · March 2024

    Raised a €7.3M Series A with the EIC Fund, Beiersdorf and Valio, and launched its first product in 2026.

  • Israel · June 2019

    $93M Series E in January 2022; per the company, more than 150 sites and 100,000 patients tested by June 2025

  • Netherlands · June 2019

    Bought by Aalberts in July 2021, then built a 1,400 m2 ISO-7 cleanroom plant in Rotterdam

  • Netherlands · October 2025

    Seed of €1M in 2024, €350K in 2025 and an EIC grant with equity in 2026; 20 staff by March 2026

  • Poland · May 2026

    Raised a venture round led by Balnord in September 2025; 2025 net sales rose to PLN 3.48M from PLN 1.61M

  • Netherlands · June 2021

    EUR38M Series B2 (Oct 2023) with EIC Fund participation (share undisclosed); MUSA-3 CE mark in May 2026

  • Millow ABActive

    Sweden · November 2023

    Commissioned a 2,500 m² factory in 2025, planned foodservice entry for 2026, raised €2M in August 2026.

  • Mimbly ABActive

    Sweden · May 2020

    Staff rose from 4 to 14 between the 2019/20 and 2024 accounts; a $3.46M round followed in 2025

  • Germany · March 2020

    $15.3M Series A in 2024 with the EIC Fund; Leica Biosystems and Epredia resale deals in 2026

  • Switzerland · October 2019

    Staff grew from 2 founders in 2018 to 8 in 2022; about $2.5M revenue expected for 2023

  • Spain · April 2019

    Staff grew from 30 in May 2023 to 65 in 2026; €8M Series A extension in June 2024

  • United Kingdom · March 2025

    Average staff grew from 6 to 12 between the 2025 and 2026 filed accounts

  • Sweden · March 2020

    Average staff rose from 6 in 2020 to 33 in 2025; up to €39.1M Innovation Fund grant signed in 2026

  • United Kingdom · October 2024

    Its unit went live at enfinium's Ferrybridge plant in 2025 and a 10,000 tonne unit with IDEX was agreed in 2026

  • Netherlands · March 2023

    Company says revenue tripled in 2025; closed a €40M+ Series B in September 2026 with the EIC Fund and Invest-NL.

  • MOTEG GmbHAcquired

    Germany · May 2020

    MOTEG reported almost €4M revenue for 2022, its fourth doubling in a row, and 80+ customers by Q4 2023

  • Netherlands · March 2023

    Company says it is used by hundreds of growers in 25+ countries; raised a €2.7M seed round in September 2025.

  • Slovakia · October 2019

    €8.12M from investors and €5.6M in Recovery Plan grants announced in March 2025

  • Spain · October 2021

    €189M Series B in 2025; Series C of up to €500M at €1.5B pre-money in 2026; 100+ customers

  • France · May 2026

    Reported 50-litre bioreactors and was selected for €3.7M of France 2030 funding in 2026

  • N-FIX NVActive

    Belgium · June 2023

    Series A in 2026, a €6M plant for 300 t a year from late 2027, and a Bayer feasibility study.

  • Spain · June 2019

    Staff grew from 12 to 53 over Sodena's 2016 to 2025 stake; 17 towers supplied to a Fortescue wind farm by 2026

  • Norway · October 2025

    Wage costs rose from NOK 3.5M in 2023 to NOK 7.5M in 2025 in the filed accounts

  • Switzerland · May 2026

    Capital increases in 2025 and 2026 and €10M of EIC Fund equity announced in June 2026

  • Switzerland · May 2020

    Series A led by CirCap with the EIC Fund in October 2023; capital increases registered in 2025 and 2026

  • France · October 2019

    Holcim took a stake of about 20% in 2023 and share capital rose again in March 2025.

  • Italy · October 2024

    Raised an €83.5M Series A in October 2025, including €15M of EIC Fund equity confirmed in January 2026

  • Germany · October 2024

    Raised a €4M seed round in March 2026 to grow the team and open a Munich office

  • France · October 2025

    Announced a €16M seed round in November 2025, after a €3.5M round in May 2024

  • Netherlands · March 2024

    Raised $380M at a $1.6B valuation in 2026; it says QUADRA runs in a high-volume fab and won repeat orders.

  • France · October 2021

    €24.4M Series A with the EIC Fund; €7.248M EU contribution to a randomized Phase 2b project in 2026

  • Spain · March 2025

    Announced a $20M seed round led by Alstin Capital in June 2026; capital increases entered in July 2026

  • Netherlands · October 2024

    Reports more than 500 treatments in four European centres and €40.1M raised, with a launch targeted for 2027

  • Germany · October 2020

    Average staff rose from 34 to 55 between the 2021 and 2023 accounts; €30M raised in 2023

  • Netherlands · October 2022

    150+ hospitals deployed and 30 more contracted in 12 countries; 70,000+ suspected stroke patients in 2025.

  • Denmark · October 2019

    Raised €26M in 2021 with the EIC Fund and €29M in 2024, then was sold to Radiant Opto-Electronics in 2025

  • Sweden · October 2025

    Revenue rose from SEK 5.7M in 2023 to SEK 34.6M in 2025 per the filed accounts summary

  • NORAKERPivoted

    France · June 2019

    Revenue rose from €1.89M in 2019 to €4.74M in 2023 in its filed accounts, with a profit each year.

  • Norway · June 2019

    Equity rose from NOK 3.49M to NOK 20.56M in 2024 after a share issue; wage costs nearly tripled by 2025

  • Sweden · May 2026

    Average staff rose from 24 in 2023 to 67 in 2025, per the filed accounts

  • Belgium · October 2024

    Raised a €2M seed round in 2024; total assets grew from €0.61M in 2022 to €3.92M in 2025

  • NOVOLYZEActive

    France · October 2019

    Raised a $15M Series A led by WAVE Equity Partners with the EIC in March 2022

  • Ireland · October 2020

    Staff grew from 3 to 16 during the EIC project; a €4.6M equity round closed in January 2025

  • Israel · March 2024

    Nurami says the EIC Fund led its Series B in June 2025; FDA-cleared ArtiFascia began preliminary US sales in 2025.

  • Germany · October 2019

    Series A in 2025 lifted share capital from €52,727 to €215,910; fleet grew from 150 (2021) to 800+

  • OctaveActive

    Belgium · March 2022

    €16M revenue in 2025, 200+ MWh installed for 400+ businesses and a €10M Series A in 2026, per company

  • Netherlands · October 2022

    16 Maverick robots sold out for 2025; sales in NL, BE, DE and FR; 2027 reservations open.

  • Germany · November 2023

    Announced a €10M seed round in April 2026 led by IQ Capital and Capnamic, with the EIC Fund participating.

  • Israel · October 2020

    Raised a $25M Series C in October 2025 and won a €7.92M Horizon Europe consortium grant in 2026

  • Hungary · June 2019

    Total income rose from HUF 129.9M in 2023 to HUF 200.7M in 2025, per filed accounts.

  • Spain · March 2025

    Closed a capital increase of about €58M in March 2026, after a €25M round in January 2025

  • Finland · March 2024

    Raised $70.8M by 2024, got an FDA GRAS no-questions letter in 2025 and signed US food partners in 2026.

  • Finland · June 2019

    Revenue rose from €3.27M in 2021 to €6.15M in 2025; €8M growth round in September 2025

  • Netherlands · March 2020

    €30M Series C in January 2024; staff rose from 36 in 2022 to 45 in 2024 per filed accounts

  • ONIO ASActive

    Norway · May 2020

    €5M Series A in June 2025; equity rose to NOK 86.3M in the 2025 accounts

  • Spain · June 2019

    The company reported 200% team growth and over 50% higher commercial revenue in 2024.

  • Portugal · October 2019

    Series A of $6.5M in 2023 listed by VCBacked; two capital increases registered in February 2026

  • Luxembourg · October 2024

    Secured €25M of EIB venture debt in February 2026 for 22 satellites and launched ERMIS-1 and ERMIS-2 in March 2026

  • Netherlands · March 2023

    Launched OrangeQS MAX and closed a €15M seed round with EIC Fund equity in 2026; IQM and Rigetti are partners.

  • Germany · June 2021

    €55.5M Series B in January 2026 and first US installation in July 2026

  • Orbisk BVActive

    Netherlands · June 2021

    €8M+ Series A in December 2024; 1,000+ kitchens in 40+ countries, per the December 2024 Series A release

  • Netherlands · March 2024

    Raised a $43M (€38M) Series A in August 2026 and signed a 1 GWh storage agreement with Budget Thuis.

  • France · March 2020

    €10M Series B first close and a $19.5M BARDA award in 2025, then a Phase 2b trial of 2,850 people

  • Norway · May 2020

    Sales rose from NOK 9.4M in 2023 to NOK 19.2M in 2025, with a NOK 3.86M net profit in 2025

  • OUTSIGHTPivoted

    France · May 2020

    €22M round in 2022, staff from 30 in 2019 to 50 to 99 in 2024, and a $17.2M Dallas Fort Worth contract in 2025

  • United Kingdom · January 2019

    Raised an £8M Series A+ in 2024; average staff rose from 6 to 9 in the year to September 2025

  • Oxyle AGPivoted

    Switzerland · October 2020

    $16M seed round in January 2025; staff grew from 17 in 2022 to 26 in 2025

  • Germany · April 2019

    Payment network grew from over 700 stations in early 2021 to over 12,000 in 18 countries by October 2025

  • Netherlands · March 2023

    Raised a €13M Series A with the EIC Fund in April 2026; published a 210-patient prospective validation.

  • PASQALListed

    France · October 2020

    Revenue rose from €3.5M in 2024 to €16.5M in 2025; staff grew from about 100 in 2023 to about 300 in 2026

  • Israel · October 2019

    Raised several million dollars in November 2025 after signing a US distributor in September 2025.

  • Ireland · April 2019

    Raised €22M in March 2025 and won FDA clearance for Millipede88 in March 2026

  • Spain · January 2020

    Raised a €6M round led by Heran Partners in February 2026; 2022 revenue rose 70.6% to €380K.

  • Germany · March 2024

    Added distributors in the US and Canada, Japan, South Korea, China and the UK, and raised capital twice in 2025.

  • Pibond OyActive

    Finland · January 2023

    Revenue rose from €2.6M in 2023 to €7.7M in 2025, with a €3.6M operating profit and 61 staff.

  • Portugal · June 2023

    Website lists 13th place in a Deloitte Fast 50 ranking for 2024 and SME Growth status for 2025-2026.

  • Ireland · June 2019

    Selected in 2026 for up to €10.4M of EIC blended funding after a €2.48M EIC Transition grant in 2024

  • Germany · October 2025

    A €5M seed first closing in April 2026, after HTGF put staff above 35 in July 2025

  • Sweden · March 2025

    Staff rose from 21 to 31 in the 2023 to 2025 accounts; a $15.5M Series B closed in August 2026

  • Germany · May 2026

    Carmeuse Ventures joined the seed round in December 2025; a first production unit opened in Hetlingen in early 2026

  • Norway · January 2019

    Sales revenue rose from NOK 16.0M in 2019 to NOK 34.2M in 2025; NOK 30M round in August 2025

  • Germany · May 2026

    Raised a €50M Series A in 2024 and was selected in 2026 for Germany's €640M quantum computing competition

  • Netherlands · April 2019

    Holding equity rose from minus €0.73M in 2022 to €8.56M in 2025 after equity rounds in 2024 and 2025

  • Netherlands · January 2020

    Raised a €6M Series A led by Venture Medical in July 2025, with US approval funding on top

  • Spain · June 2019

    Raised a €4M round in 2022; repair plants grew from 4 in 2022 to 6 listed in 2026.

  • Italy · October 2019

    Revenue rose from €8.98M in 2023 to €12.0M in 2025, per filed accounts reported by Atoka

  • Switzerland · January 2020

    CHF 7M round led by HealthCap in June 2025; named buyers in the US, Germany and Italy from 2025

  • Slovakia · November 2023

    FDA De Novo in 2026, selected for €40M+ IPCEI funding in 2025, reports 120,000+ heart attacks detected in 2025.

  • Finland · January 2020

    Revenue rose from €228k in 2021 to €1.74M in 2025, and a $10M Series A closed in January 2024

  • Ukraine · May 2020

    Revenue rose from UAH 316,800 in 2024 to UAH 8.58M in 2025, and a Ukrainian venture fund bought 10.01% in 2026

  • United Kingdom · June 2023

    Raised £8M in 2024, shipped a four-tonne MOF order in 2025 and grew from 11 to 22 staff.

  • Poland · March 2025

    Raised a venture round from Radix Ventures in November 2025, after the July 2025 EIC financing

  • Germany · March 2024

    Raised a €130M Series A in 2025 and €411M in July 2026; the company says total funding exceeds €650M.

  • Netherlands · October 2020

    $26M Series A in 2024; staff rose from more than 95 in 2024 to 150+ in 2026

  • QC DesignActive

    Germany · March 2024

    QUDORA, C12 and Yaqumo adopted Plaquette in 2025 to 2026; it was integrated with NVIDIA CUDA-Q Logical in 2026.

  • QDevil ApSAcquired

    Denmark · October 2019

    Average staff rose from 6 in 2019/20 to 28 in 2024 and 27 in 2025, per the filed accounts

  • Netherlands · October 2024

    Camera modules with its sensors announced for evaluation from October 2026; partnership with Allied Vision in 2026

  • QphoXActive

    Netherlands · October 2021

    Quantum Transducer launched 2026 with IBM; 100 cryo switch controllers (company, 2024); €10M EIC STEP selection (2025)

  • Qu & Co B.V.Acquired

    Netherlands · March 2022

    Parent Pasqal listed on Nasdaq in August 2026, reporting a €70.4M backlog and over 1,000 physical qubits demonstrated

  • United Kingdom · March 2025

    Share premium rose from £2.43M to £6.54M and cash to £2.81M in the year to April 2025, per filed accounts

  • Germany · June 2023

    Closed €15M equity, had €76M state aid approved and installed systems in the US and Taiwan in 2026.

  • Netherlands · March 2022

    Raised a $178M Series B in May 2026; says it serves more than 50 customers in 20 countries

  • Netherlands · March 2024

    €15M Series A co-led by the EIC Fund; company reports 20+ Alquor systems deployed and a Japanese distributor.

  • France · October 2024

    Raised a €115M Series A in June 2026 led by Bpifrance, STMicroelectronics and SEALSQ

  • Israel · March 2024

    Raised a $17.5M Series A led by NXP with the EIC Fund and signed foundry work with TSMC and GlobalFoundries.

  • Sweden · May 2026

    SEK 10M share issue with three new investors announced in July 2026, next to the EIC grant

  • Denmark · January 2020

    Average staff doubled from 11 to 22 between the 2019/20 and 2024/25 accounts

  • Spain · April 2019

    Company-reported projects rose from over 20,000 in 2022 to over 64,000 in 2026

  • Germany · October 2025

    Raised €5M of venture money in a Series A1 round announced in March 2026

  • United Kingdom · October 2019

    Turnover rose from £16.7M in 2019 to £44.7M in 2025, after peaking at £69.3M in 2023

  • United Kingdom · October 2021

    $17M Series A; installations in 7+ countries; 43 staff by 2024; majority stake bought by CP Group in 2026

  • Israel · January 2019

    Listed in December 2025 with a $10M IPO and raised a further $6.5M in a June 2026 private placement

  • Israel · March 2025

    Raised a $15M Series A extension and a $3M Israel Innovation Authority grant in April 2025

  • United Kingdom · May 2020

    Staff rose from 6 in 2020 to 24 in late 2025; Series A from Orlen VC and Beiersdorf VC in May 2025

  • Germany · October 2022

    Company reports 7 plants in customer operation and 200+ staff; $175M Series B in 2026.

  • France · October 2024

    Raised $28M in January 2025 and doubled its team afterwards, per the company

  • Germany · January 2020

    Multi-million financing round in December 2022; share capital raised in 2022 and 2023.

  • Ireland · January 2020

    Series A closed in October 2023, then new share allotments filed in 2024, 2025 and 2026

  • ROSI SASActive

    France · May 2020

    Raised over €20M in 2026 from a Series B plus grants; staff rose from about 20 in 2022 to about 30 in 2025

  • Netherlands · November 2023

    Raised a $60M Series B with EIC Fund participation in 2025; says its 150-patient US pivotal began Oct 2026.

  • SAS WOODOOPivoted

    France · October 2020

    Raised $31M in 2023 and began a first 1,000 m³ STACK production batch for Bouygues in 2026

  • Romania · October 2021

    CE-marked; 1,500 preorders via Romania's state programme in 10 days; €5M round with the EIC Fund

  • France · October 2021

    $58M Series B (2025) with NVIDIA; LEAF Light shown 2025; Tower availability Feb 2026; evaluation kit Mar 2026

  • Sweden · April 2019

    Won a €7.49M share of a Horizon Europe demo grant in 2025; CEO says staff doubled in Q1 2026

  • Austria · April 2019

    Raised €20M in a round led by the Hopp Family Office in April 2021; Kaufland Pay rolled out in 2023

  • United Kingdom · May 2026

    Average staff rose from 8 in FY2024 to 18 in the seven months to January 2026, per filed accounts

  • Finland · October 2024

    €15M of EIC equity announced in 2025 and a strategic investment from PostScriptum in 2026

  • Norway · January 2020

    Raised €7M in 2024, launched its first product in 2025 and grew revenue to NOK 3.52M in 2025

  • Slovakia · May 2020

    Net turnover rose from €0.74M in 2020 to €12.78M in 2025 in the filed accounts

  • Spain · October 2021

    €10M Series A with Seventure and the EIC Fund in 2024; CE-IVD mark under IVDR in April 2026

  • France · October 2021

    €10M Series A (2024) incl. EIC Fund; €3.71M turnover in 2025; Spain station and Belgian unit 2025; India deal 2026

  • France · October 2020

    Group staff grew from 130 to 200 between end 2022 and March 2025, per investor Siparex.

  • Sweden · March 2025

    Revenue rose 50% to SEK 2.95M in 2025, per Syna, after SEK 30M from shareholders in July 2025

  • SIPEARLActive

    France · October 2021

    €130M Series A closed July 2025; first Rhea1 CPUs delivered to Bull for JUPITER in September 2026

  • Skamik ASActive

    Norway · June 2019

    Revenue rose from NOK 58.2M in 2024 to NOK 167.4M in 2025, with a NOK 54.8M net profit, per filed accounts

  • Germany · May 2020

    Group revenue rose from €9.02M in 2020 to €29.23M in 2025; FTE staff grew from 127 to 304.

  • Denmark · January 2019

    Average staff rose from 29 in 2021 to 118 in 2025; revenue from DKK 0.8M to DKK 522.6M

  • Netherlands · June 2023

    Announced its first commercial system in 2026; SDE++-backed greenhouse projects plan 23,000 t a year with its units.

  • Netherlands · January 2019

    Raised €35M in 2020 and €100M in 2023; over 200 staff by 2026, above the 120 planned

  • Portugal · October 2019

    $24.7M Series A in 2022; the team grew from 100 to 150 people in 2023, per the company

  • Germany · June 2023

    Opened an industrial line in 2025, doubled capacity to 14,000 tonnes and raised up to €20M in 2026.

  • Solhyd BVActive

    Belgium · October 2025

    Equity rose from €2.41M to €3.39M in 2025 despite a €0.52M loss, per the filed accounts

  • Portugal · April 2019

    Staff grew from 10 in 2019 to about 30 by 2023; it raised €2.5M in 2022 and won state VC approval in 2026

  • Luxembourg · March 2025

    Closed a €27.5M Series A in September 2025 and booked a SpaceX Starfall mission in September 2026

  • France · April 2019

    Raised a €75M Series B in 2022 and started a second clinical trial, for SPVN20, in October 2025

  • Denmark · June 2021

    Completed EUR 27.5M Series A in 2025; annual report gives average employment of 34 FTE, versus 21 in 2024

  • United Kingdom · October 2024

    Raised a €4.2M pre-Series A in February 2026 led by SWEN Capital Partners to move from pilot to tonne-scale production

  • Finland · November 2023

    Revenue rose 92% to €1.25M in 2025, staff grew to 21 and WEG signed a partnership in 2026.

  • Germany · March 2025

    Staff grew from 28 employees in 2024 to more than 50 in 2025, per the EIC's company page

  • Spain · June 2019

    Staff rose from 14 in 2019 to 22 in 2022; a €1.97M EU grant share for MultiplexAI followed in 2025

  • Finland · June 2019

    Net sales rose from €14.4M in 2019 to €21.6M in 2025 and staff from 90 to 135

  • Germany · June 2021

    50 MWh of storage installed by September 2026, with 100 MWh more in the pipeline

  • United Kingdom · October 2024

    Published phase I results in eClinicalMedicine in August 2026 and launched a phase 2b trial after HRA approval

  • France · October 2025

    Closed a €38M Series C in October 2025 and moved its drug into a phase 2 trial in June 2026

  • United Kingdom · June 2023

    Reported €12.2M Series A in 2025; staff rose from 12 in 2023 to 29 in 2025.

  • SUBRA A/SActive

    Denmark · March 2023

    First commercial Subracable order at end 2025; €40M new equity in April 2026; staff grew from 12 to 28 in two years.

  • Finland · March 2022

    Revenue rose from €39,000 in 2023 to €237,000 in 2025, with a €7M Series A led by ZEISS Ventures in 2025

  • Swave BVActive

    Belgium · June 2023

    Raised a €27M Series A with the EIC Fund and a €6M extension; staff rose from 3.5 to 19.9 FTEs by 2025.

  • Portugal · April 2019

    Swire Energy Services took a majority stake in 2021; staff nearly tripled during the 2019 to 2021 project

  • Netherlands · October 2021

    2.7 GW of flexible assets managed across Europe; €42M Series B incl. €19M from PGGM in September 2025

  • SYNTETICAActive

    France · May 2026

    Raised a $30M Series A in July 2026, two years after a €4.2M seed round

  • France · June 2023

    Raised a €12M Series A in September 2025, €30M of equity in total, and employs 26 people.

  • Germany · October 2022

    Over 300 client companies in 40+ countries, 55 staff and a €12M Series A in 2025, per the company

  • Netherlands · March 2025

    Series A2 reached €40.4M in June 2026, with the EIC Fund and Kurma Partners joining

  • Italy · June 2019

    Revenue rose from €2.44M in 2019 to €4.40M in 2024, with a profit in every year, per filed accounts.

  • Finland · January 2019

    Staff grew from 11 to 16 between 2022 and 2025, and Arteche invested in September 2024.

  • Sweden · October 2020

    Project partner Yangi raised a €10M Series A in 2025; its first serial machine ran at a customer in 2026

  • France · June 2019

    Biogen invested up to $15M in convertible debt in December 2021; staff reached 60 by June 2022.

  • THRUSTMEActive

    France · October 2021

    Company reports 500+ systems delivered, about one a day (Aug 2026), and systems on 100+ satellites (Oct 2026).

  • France · October 2019

    Raised €8M from the EIC Fund, Karista and Wind in October 2025; share capital rose to €151,732 in 2025

  • Germany · March 2024

    Opened a 1,500-tonne-a-year industrial plant in 2026 after an €11M seed with Honda and In-Q-Tel.

  • Germany · June 2021

    Staff grew from 40 in 2023 to about 110 when the plant opened in May 2026

  • Switzerland · May 2020

    New Series A2 shares registered in August 2026; staff rose from 12 in 2023 to about 15 in 2025

  • France · June 2019

    Staff grew from 26 in June 2020 to 165 in May 2025, per the company and FrenchWeb

  • Germany · March 2024

    Says its Spanish e-methane plant sells all output on long-term contracts; raised a €20M Series A in Oct 2026.

  • Germany · March 2022

    Battery storage business nearly tripled in 2025, per the EIB; €24M EIB venture debt announced in 2026

  • Lithuania · June 2021

    €6M seed round in December 2023 and CE mark in May 2026

  • Switzerland · May 2020

    USD 9M Series A led by the Orano Venture Fund in October 2026, total funding USD 25M

  • Germany · November 2023

    Raised a €30M Series B in 2026, employs 83 people and reports double-digit million revenue.

  • Italy · June 2019

    Revenue rose from €648,959 in 2022 to €1,936,669 in 2024; €5M round led by CDP Venture Capital in 2026

  • UROMEMSActive

    France · June 2023

    Raised $47M in 2024 with the EIC and $60M in 2026, and runs a 140-patient pivotal trial at 21 sites.

  • VarmX BVActive

    Netherlands · June 2021

    Phase 3 EquilibriX-S enrolling since Aug 2026; CSL funds it and holds an option to acquire VarmX; still investigational.

  • Verity AGActive

    Switzerland · October 2025

    Series B grew to $43M in July 2023; the register shows new B+ preference shares issued in May 2026

  • VEXLUM OYActive

    Finland · November 2023

    Revenue grew from €0.42M in 2021 to €4.19M in 2025, staff to 27, and it raised €10M in 2026.

  • Netherlands · April 2019

    €17.2M Series A in August 2026 and machines on more than 100 hectares of UK strawberries

  • Netherlands · June 2019

    CE mark, 13 devices contracted by 2025, $70M Series B in March 2026 and FDA De Novo authorisation in August 2026.

  • Germany · October 2024

    Reached first-in-human use at Erasmus MC in March 2026 and EMA breakthrough device status in August 2026

  • Ireland · October 2019

    Raised €22M in 2022 and €30M from Haemonetics in 2023, then sold for €100M upfront in 2026

  • Netherlands · May 2026

    Raised a €32.5M Series A in February 2025, then an EIC package reported at €12.5M in June 2026

  • VSORAActive

    France · June 2023

    Raised $46M in April 2025 with EIC Fund co-financing and announced Jotunn8 tape-out in October 2025.

  • WATTALPSActive

    France · May 2020

    €11M Series A in 2024, with revenue up fivefold in 2023 and more than threefold in 2024, per InnoEnergy

  • Estonia · October 2021

    Hosting partnerships with GoDaddy (2026), Hostinger and others; 1,000+ open-source products on its VDP

  • France · March 2024

    Sold its QDrive memory and a photon source in 2026 and partnered with Pasqal and OVHcloud.

  • Sweden · October 2025

    EIC selection in 2026 added a €2.5M grant and a reported €4M EIC Fund equity stake to earlier venture rounds

  • Whispp BVActive

    Netherlands · October 2025

    Raised a €5M round led by LUMO Labs in July 2026, after a €750k seed round in January 2024

  • Italy · March 2020

    Closed a €30M Series D in June 2026; staff rose from 36 planned for end-2022 to 50 in the 2024 accounts

  • Womed SASActive

    France · November 2023

    Womed Leaf won FDA approval in 2025 and sells in 14 European countries; raised over €7M in 2026.

  • XELTIS BVActive

    Netherlands · October 2021

    aXess CE marked April 2026; US pivotal trial past 50% enrolment; EIC Fund, EIB and other financing

  • XENOTHERAPivoted

    France · March 2020

    €20M round co-led by the EIC Fund in 2021; staff grew from 8 in 2020 to a band of 20 to 49 in 2024

  • Italy · June 2022

    €36M Series C in 2024; 600,000 farms per the company; sixth group deal announced Sep 2026

  • Italy · January 2019

    Revenue rose from €32,000 in 2020 to €2.63M in 2024, and the EIB lent €20M in 2023

  • Denmark · October 2019

    Average staff rose from 9 in 2020 to 31 in 2025 and gross profit from DKK 8.2M to 17.8M

  • Switzerland · March 2020

    Closed a $7M Series A led by WI Harper in March 2026, with the EIC taking part.

  • Czechia · October 2025

    Average staff rose from 5 to 15 between the 2023 and 2025 filed accounts

  • Sweden · January 2019

    Raised €3.2M in 2023 and €5.0M in 2024; staff rose from 14 to 20 between the 2021 and 2025 accounts

  • Spain · April 2019

    €1.3M round in 2023, €3M seed round in 2025 and an Olon manufacturing deal in 2026

Not scaling (320)

  • Spain · October 2019

    Voluntary insolvency declared in June 2026; staff fell from 38 in 2023 to 15 in 2026.

  • Abzu ApSInsolvent

    Denmark · June 2022

    Under bankruptcy (under konkurs) since April 2026; staff had fallen from 20 in 2023 to 12 in 2024

  • Sweden · June 2019

    Staff only grew from 7 to 10 in 2019 to 2021; the board filed for bankruptcy in February 2023 with no new capital.

  • Actome GmbHInsolvent

    Germany · October 2022

    EIC project terminated early; Actome GmbH in insolvency and liquidation since 2025.

  • Spain · October 2021

    PreveCol on sale in Spain since 2023; register puts annual sales under €500,000

  • United Kingdom · June 2019

    Entered administration in February 2025; all remaining staff were made redundant that month.

  • Austria · June 2019

    Insolvency proceedings entered in the Austrian company register in March 2026.

  • United Kingdom · October 2022

    No product on sale by September 2026; cash of £5,003 and net liabilities of £498,664 at end 2025.

  • AkknaTek GmbHInsolvent

    Germany · October 2022

    Provisional insolvency administrator three months after the EIC project; eight staff; no rescue found by Nov 2026.

  • Spain · October 2022

    Trial for CE and FDA not run under the grant; no approval found; Empresia lists turnover below €500,000.

  • Spain · March 2022

    11 employees and micro-enterprise revenue in 2025 with a negative result; last round €1.5M

  • Norway · May 2020

    F3 plant frozen and about 26 full-time staff temporarily laid off in May 2026 after a NOK 870.7M loss for 2025

  • Sweden · October 2021

    Still in technology development; $3.6M raised in 2026 to move towards first commercial partners

  • Netherlands · October 2021

    Sources reviewed 4 Nov 2026 show no trial on ClinicalTrials.gov and no funding round announced since the 2022 award

  • alocalo GmbHInsolvent

    Germany · March 2022

    Filed for insolvency in September 2023; proceedings opened 1 November 2023 with most staff already gone

  • ALTARMerged

    France · May 2020

    Bought by Ginkgo for $12.0M in 2022, sold for a nominal amount in 2024 with 14 staff

  • Romania · June 2022

    Turnover of RON 235,084 in 2025 with six staff and RON 57,581 in cash at year end

  • Finland · January 2019

    Revenue fell 53.5% to €125,000 in the year to January 2021; the company ceased in 2024.

  • Germany · June 2019

    Entered liquidation in February 2025; its website went offline and the domain is listed for sale.

  • Arxum GmbHInsolvent

    Germany · October 2021

    Provisional insolvency administrator appointed Jan 2024; proceedings opened by court order dated 28 March 2024

  • Ascend ApSPivoted

    Denmark · June 2019

    Average staff fell from 6 in 2019 and 2020 to 2 in 2025; equity fell from DKK 9.58M (2018) to 1.72M (2024)

  • Finland · April 2019

    Revenue fell 3.2% to €1.21M in 2025 while the operating loss rose to €7.76M; equity ratio 0%

  • Switzerland · January 2019

    Put its perovskite quantum dot patents and production assets up for sale in November 2024

  • AVVie GmbHAcquired

    Austria · June 2022

    Design freeze pending animal testing at the end of the EIC project; no human trial announced

  • Denmark · March 2020

    Average staff stayed at 4 from 2023 to 2025 while equity fell to minus DKK 651,471 in 2025

  • Denmark · April 2019

    Danish grantee average staff fell from 15 in 2020 to 7 in 2025, when it sold its activities

  • Israel · March 2020

    UK subsidiary struck off in 2025; 3 employees and still preclinical in its 2026 crowdfunding round

  • Estonia · March 2023

    Annual reports: sales revenue €0 in 2025, €11,284 in 2024; 2025 net loss €242,861.

  • Poland · January 2019

    Group turnover fell from £733,517 in 2023 to £513,467 in 2024 and net assets turned negative

  • Bind-X GmbHInsolvent

    Germany · May 2020

    Insolvency court order in June 2025, two years after a €10M Series B; in liquidation since September 2025.

  • United Kingdom · October 2019

    Group staff fell from 65 in 2019 to 11 in 2025, with no revenue in 2024 or 2025 and a going concern warning

  • Finland · June 2019

    9 staff and €42,000 revenue in 2025, against 35 jobs and €17M revenue projected for 2023

  • Slovenia · October 2020

    Total revenues fell from €4.14M to €3.05M and staff from 40.2 to 35.3 between 2023 and 2025

  • Germany · October 2019

    Staff fell from over 160 in December 2023 to 28 at the February 2026 sale to Senstar

  • Germany · January 2019

    Insolvency proceedings opened in April 2020; the business was sold to Lika Electronic in October 2020.

  • United Kingdom · October 2019

    Average staff fell from 10 in the year to February 2024 to 3 in each of the next two years

  • BOYDSENSEInsolvent

    France · October 2021

    No product approval identified in sources checked as of 3 November 2026; judicial liquidation opened in September 2026

  • Austria · October 2022

    Insolvency proceedings opened in August 2025, four months after the EIC project ended

  • Spain · October 2019

    Dissolved in February 2024 after a Pamplona labour court declared it provisionally insolvent in January 2024

  • Finland · March 2022

    No revenue in the 2024 accounts and €48,000 in 2025; staff fell from 28 in 2023 to 18 in 2024 and 2025

  • Israel · October 2021

    Device still investigational; small first-in-human study; 10-patient Vsling III trial recruiting

  • CARMATInsolvent

    France · October 2022

    Entered receivership on 1 July 2025 and was liquidated in January 2026 after selling its business

  • CASCADEInsolvent

    France · May 2020

    Payments stopped in September 2023; liquidation opened in December 2024

  • United Kingdom · June 2019

    Average staff fell from 11 to 7 and net liabilities rose to £453,506 in the March 2026 accounts

  • Austria · June 2022

    Insolvency proceedings opened and an insolvency administrator appointed in October 2024

  • Norway · October 2021

    2025 revenue NOK 18.3M against a NOK 40.8M loss; 8 employees

  • Sweden · March 2022

    Net sales of SEK 41k in 2025, a year after launch, with a SEK 37.7M net loss, per accounts listed on Allabolag

  • Ireland · March 2023

    The EIC-funded 24-patient trial had not started by project end; estimated start is now October 2026.

  • Finland · March 2022

    Revenue fell to €33,000 in the year to May 2025, with a €1.8M operating loss and negative equity

  • Sweden · January 2019

    Net sales of SEK 4.2M against a SEK 18.1M loss in 2023; bankrupt in July 2024 with 14 staff

  • France · June 2019

    Net loss of €1.57M on €0.61M revenue in 2025; annual losses of €1.05M to €1.85M from 2019 to 2025

  • Germany · June 2019

    Put itself up for sale in July 2025 and sold its RISC-V processor business to onsemi for up to $14.5M in 2026

  • Colzyx ABActive

    Sweden · October 2019

    Total assets fell from SEK 30.8M to SEK 17.2M between the April 2023 and December 2024 accounts

  • France · March 2022

    Safeguard in December 2024, receivership in December 2025 and judicial liquidation from 6 January 2026

  • Germany · March 2020

    Insolvency proceedings opened in August 2023, 13 months after the EIC project ended.

  • CRAYONANO ASInsolvent

    Norway · October 2020

    Net loss grew from NOK 31.4M in 2021 to NOK 80.5M in 2023; bankrupt in January 2025.

  • United Kingdom · October 2019

    Average staff fell from 28 to 22 in FY2025 accounts; creditors' voluntary liquidation from October 2026

  • Switzerland · June 2019

    Dissolved by its shareholders in November 2023; its cyanide patents passed to Cyanco in January 2024.

  • Poland · October 2021

    Prototyping 85% complete at project end; no certification or customer in sources reviewed on 4 Nov 2026

  • DataBeacon SLInsolvent

    Spain · January 2020

    Voluntary insolvency declared in May 2026; the register lists 1 to 9 staff.

  • United Kingdom · May 2020

    Staff fell from 22 to 6 from the 2023 to 2024 accounts; the UK company entered members' voluntary liquidation in 2025.

  • France · November 2023

    Published revenue stayed between €1.5M and €3M from 2018 to 2023, with 10 to 19 staff.

  • Finland · March 2024

    Revenue fell 47.5% to €149,000 in 2025 with an operating loss of €267,000, despite staff growing to 11.

  • DEMETAClosed

    France · October 2019

    Receivership in September 2022 and liquidation in February 2023, with 2021 revenue of €353,102.

  • Bulgaria · March 2022

    No turnover in the 2023 or 2024 UK accounts; no commercial cargo service found in sources reviewed on 4 November 2026

  • Spain · June 2019

    2 employees on the register; a subsidiary was recorded as provisionally insolvent over a €4,968 debt in 2024

  • United Kingdom · June 2022

    Turnover of £20.3M in the year to June 2025, against £20.0M in the year to March 2023

  • E.F.S. SASInsolvent

    France · June 2019

    Receivership opened in July 2026; net profit fell from €473k in 2023 to €127k in 2024.

  • Easyl SAActive

    France · March 2022

    Revenue of €4,150 and a €2.54M net loss in 2025; equity below half of share capital

  • Portugal · May 2020

    Filed for insolvency in March 2024, a year after its EIC project ended; the court closed the case in July 2025.

  • Poland · March 2022

    Revenue fell from PLN 3.2M in 2023 to PLN 67k in 2025; staff from 13 to 8; equity negative at end-2025

  • Sweden · October 2021

    Phase 2b planned for 2027; no development partner shown in sources reviewed on 4 Nov 2026

  • EFENCO OUDormant

    Estonia · October 2022

    No sales revenue reported for 2024 or 2025; staff fell from 12 in mid-2024 to 1 in Q3 2026

  • Hungary · January 2019

    Average staff fell from 86 in 2021 to 52 in 2023; liquidation proceedings followed in October 2024.

  • Germany · May 2020

    A financing round failed in spring 2026; the company filed for insolvency in April 2026.

  • Elthera AGDormant

    Switzerland · January 2019

    Moved to a Zug domicile agency in July 2023 as three of its board members left; 3 staff in 2020.

  • Sweden · October 2020

    Staff fell from 12 to 8 between the 2021 and 2025 accounts, with net sales near zero and a SEK 9.5M loss in 2025.

  • ENERPOLY ABInsolvent

    Sweden · May 2020

    Bankrupt since 27 June 2025 after failing to raise funds; FY2024 net sales were SEK 67,000.

  • France · October 2021

    No Series A located; Servier collaboration announced; judicial liquidation opened in February 2026

  • EVOY ASActive

    Norway · May 2020

    Net loss widened to NOK 68.8M in 2024; Florø factory shelved in 2025; 5 staff registered in 2026

  • Ireland · March 2020

    Average staff fell from 8 in 2022 to 2 in 2023; the company was struck off in April 2025.

  • Germany · June 2022

    Insolvent in March 2026 with four active farm sites; operations ended in August 2026 with no buyer

  • FEops NVAcquired

    Belgium · October 2019

    Staff fell from 33.8 FTE in 2023 to 22.6 FTE in 2025; the company sold for €2.985M in 2024

  • Israel · January 2020

    Tracxn counted 3 employees in August 2026; no funding round or product launch announced since 2022.

  • Netherlands · October 2021

    EIC grant terminated in 2024; sources reviewed in Nov 2026 show no product launch, funding round or news since 2021

  • FIMUSKRAFTInsolvent

    Finland · October 2021

    No public CORDIS outcome report for the 2022-24 project; Finnish register shows bankruptcy in June 2026

  • FocalSpec OyAcquired

    Finland · April 2019

    TKH gave 55 staff in 2019; Oulu accounts show 19 in 2025 and revenue down from €16.4M (2021) to €3.88M

  • Spain · April 2019

    Voluntary insolvency declared in April 2024 and concluded with a provisional closure in May 2024

  • Belgium · October 2022

    Declared bankrupt on 23 January 2025; the EIC terminated its project on 26 February 2025

  • United Kingdom · June 2019

    Staff fell from 13 in 2021 to 8 in 2023; creditors' voluntary liquidation began in March 2025

  • Sweden · January 2019

    Staff fell from 17 to 12 and total income by 41% between the 2023 and 2024 accounts

  • Italy · April 2019

    Revenue fell from €631,832 in 2020 to €513,518 in 2023, with a €20,896 loss and 5 staff.

  • Netherlands · March 2023

    Company cites i-THYMUS scientific challenges; RAG1-SCID trial suspended after an SAE (registry, Jul 2026).

  • Israel · January 2019

    Ceased operating in November 2024 and was voluntarily liquidated; no funding round found

  • Gleechi ABInsolvent

    Sweden · January 2020

    Bankrupt in August 2023 after 21 staff in 2022; the successor company reported 2 employees in 2025

  • France · May 2020

    Receivership in April 2023 and liquidation in July 2023 with no takeover offer

  • Switzerland · October 2019

    Website team page lists four people in 2026, against 17 staff reported in December 2020

  • Belgium · May 2020

    Group net sales fell 86% to SEK 5.7M in 2025; average staff fell from 33 in 2023 to 18 in 2025.

  • Norway · June 2019

    Revenue fell from NOK 29.8M in 2024 to NOK 13.6M in 2025; wage costs halved from 2023 to 2025

  • Italy · October 2021

    Revenue €321.5K in 2024 with a €3.5M loss; spinal products at CE readiness only

  • France · June 2022

    Full sea demonstration postponed to late 2026 or early 2027; no commercial installation in sources reviewed 4 Nov 2026

  • Estonia · June 2019

    Estonian staff fell from 114 in Q2 2020 to 1 in Q1 2026, per Tax and Customs Board data.

  • United Kingdom · October 2021

    EIC grant rejected per EIC note; directors cite no yes from 200+ investors; administration 2024, liquidation 2026

  • Denmark · June 2019

    Average staff fell from 9 in 2021 to 5 in 2025, with no funding round found and flat gross profit

  • Sweden · January 2020

    Net loss widened to SEK 12.7M in 2022 on SEK 0.5M of sales; bankrupt in May 2024.

  • HARDT BVInsolvent

    Netherlands · June 2021

    Bankrupt 3 Mar 2026; trustee says part two of a ~EUR 13M commitment was not awarded; causes under investigation.

  • Israel · October 2021

    No clinical study by the Aug 2025 project end (CORDIS); EIC Fund round Sep 2022; no later round located.

  • Sweden · April 2019

    Turnover fell to SEK 7.8M in 2025 with a SEK 3.8M loss, seven staff and negative equity

  • Hiber B.V.Insolvent

    Netherlands · October 2019

    Bankrupt in June 2023 with 28 staff, down from 60 the year before, per the curator

  • Israel · June 2019

    Started a voluntary dissolution in July 2023; the register now shows it in court liquidation

  • France · January 2019

    French unit lost €8.5M in the year to May 2025; the founders wound Hokodo up in late 2025

  • HPNow ApSActive

    Denmark · March 2020

    Sales activities cut back in 2025, development projects written off and staff flat at 19

  • Belgium · October 2020

    Staff costs fell from €535,567 in 2022 to €233,858 in 2024; cash fell to €21,355 by end 2024

  • Belgium · April 2019

    About 100 Oevel jobs cut after a December 2024 notice, and about 100 more announced in early 2026

  • Denmark · November 2023

    Laid off all 32 employees and suspended operations in June 2026 after a DKK 135.5M loss.

  • HyperMemo OyInsolvent

    Finland · January 2020

    Staff fell from 13 to 5 between 2022 and 2024; bankrupt since 27 November 2025

  • United Kingdom · March 2022

    Entered administration July 2024, described as pre-revenue; in creditors' voluntary liquidation since July 2025

  • HySiLabs SASInsolvent

    France · May 2020

    Net loss rose to €4.52M in 2025 with no Series B lead found; liquidation ordered in September 2026

  • Spain · October 2021

    Register puts sales at €500,000 to €1M a year; last reported round a 2023 bridge round of undisclosed size

  • iFLUX nvActive

    Belgium · October 2021

    Three utility pilots (CORDIS); 2025 accounts: EUR 1.31M loss, EUR 356K negative equity; capital filing July 2026.

  • Sweden · March 2020

    Staff fell from 18 in 2022 to 6 in the 2024 and 2025 accounts; no new round announced since 2024

  • United Kingdom · October 2019

    Staff fell from 29 in 2021 to 23 in 2025 as net liabilities rose to £8.9M, funded by parent loans

  • Netherlands · March 2020

    Dissolved in 2025: the operating company left the Dutch register in October, the holding in December

  • Israel · January 2020

    Ceased operating in February 2025 per Startupim; in voluntary liquidation; no round found after the 2022 Series A

  • Finland · April 2019

    Staff fell from 70 to 46 between the 2023 and 2025 accounts; no company-announced round since March 2024.

  • France · April 2019

    Net loss rose from €33,795 in 2021 to €1,072,042 in 2024; safeguard proceedings opened in June 2025.

  • Poland · June 2019

    In court restructuring since 2024; temporary court supervisor named in April 2026; no accounts after 2023

  • Sweden · March 2020

    Staff fell from 12 in 2022 to 8 in 2025, and equity turned negative at SEK -4.3M in 2025

  • Norway · March 2022

    No CE Mark or launch shown in sources reviewed on 4 Nov 2026; six employees and NOK 1.4M operating income in 2025

  • Norway · October 2022

    2025 revenue NOK 9.6M against a NOK 26.2M net loss; equity negative at NOK 47.7M.

  • Germany · June 2021

    Insolvency proceedings opened in August 2025, about 32 months after a €13M financing announcement

  • JUSTINMIND SLInsolvent

    Spain · April 2019

    Press reported 30 staff in 2021, Empresia lists 11; insolvency and liquidation opened in March 2025.

  • Israel · March 2020

    No funding round after the 2022 seed, no news since September 2024, website parked by December 2025

  • Sweden · June 2021

    Two employees and SEK 1.9M revenue in 2025 accounts; InnoMatch demo-vehicle pilot with FAIV AB, no result located

  • Hungary · October 2020

    Average staff fell from 15 in 2023 to 7 in 2025, with yearly losses of HUF 134M to 172M

  • Ireland · March 2020

    Failed to raise further funds; liquidator appointed in January 2023 and company dissolved in January 2025

  • Denmark · January 2023

    Average staff fell from 49 to 37 in 2025; gross loss of DKK 20M and negative equity at year end.

  • Germany · October 2020

    Insolvency proceedings in self-administration opened in June 2025, 13 months after the EIC project ended.

  • Estonia · October 2020

    Staff fell from 15 in 2022 to 1 in 2024; revenue was zero in 2024 and 2025

  • LaDiMo OyClosed

    Finland · June 2019

    Bankrupt in March 2022 with €15,000 revenue and 7 staff in its last accounts; ceased October 2023

  • Spain · January 2020

    Staff was about 20 in September 2025, against 18 in 2021 and a forecast of about 40 for 2025.

  • Denmark · March 2020

    Average staff fell from 13 in 2021 to 4 in 2025; equity was DKK -19.4M at the end of 2025

  • United Kingdom · June 2019

    Parent staff fell from 16 in 2024 to 5 in 2025, and the group entered administration in June 2026

  • LIMATECHInsolvent

    France · May 2020

    Receivership opened in April 2026 and converted to liquidation in June 2026 after a €1.21M loss in 2024

  • France · October 2021

    Liquidated in 2023; liquidation closed for insufficient assets and company struck off in 2025

  • Italy · October 2019

    2021 accounts: €64,597 revenue and a €317,144 loss; judicial liquidation opened in April 2024.

  • Germany · April 2019

    Filed for insolvency in October 2022 after revenue fell from 2020; proceedings opened January 2023.

  • Belgium · March 2020

    Average staff fell from 19.1 FTE in 2021 to 14.4 FTE in 2025, per filed annual accounts.

  • Netherlands · October 2022

    Declared bankrupt on 28 May 2026 after failing to raise €20M; no aircraft flown in sources reviewed.

  • Sweden · January 2019

    Staff fell from 13 in 2021 to 7 in 2025 while the company posted a loss in each of those five years

  • Hungary · January 2019

    Revenue fell from HUF 39.5M in 2024 to HUF 798,000 in 2025; the 2025 accounts show no staff

  • Israel · March 2024

    Revenue fell 16% to $17.0M in 2025 with a net loss of $23.9M, and the EIC equity investment did not materialise.

  • France · June 2022

    Judicial liquidation opened on 17 April 2025 after payments stopped on 28 March 2025

  • Italy · April 2019

    Revenue fell from €1.23M in 2020 to €390,899 in 2025 in the filed accounts; 6 to 9 staff listed.

  • France · June 2022

    Revenue of €166,000 in 2023; court safeguard opened February 2026, nine-year plan adopted September 2026

  • Estonia · March 2024

    Revenue was €20,470 in 2025, after two years of EIC funding and a platform covering 20 countries.

  • Spain · January 2019

    Said in 2026 it had ceased operations; Empresia lists annual sales under €500,000 and 7 staff.

  • Sweden · April 2019

    Reorganised to 36 staff, Wales office closed in 2025; no net sales and a SEK 15.4M operating loss in H1 2026

  • Norway · October 2019

    Wage costs fell from NOK 13.7M in 2023 to NOK 4.9M in 2025 as sales fell for two years running

  • MITIS SAPivoted

    Belgium · October 2019

    Net losses of €1.00M, €0.97M and €0.94M in 2023 to 2025; cash fell 87% to €232,179 in 2025

  • Spain · March 2020

    Staff fell 20% to 12 in 2024 per Informa, and no product had reached the market by October 2026

  • United Kingdom · January 2023

    Placed in creditors' voluntary liquidation in December 2025 with an estimated £755,145 shortfall to creditors.

  • MoveUP NVMerged

    Belgium · March 2020

    Average staff fell from 18.4 to 12.2 FTE between 2023 and 2025; cash was €273k at end 2025

  • United Kingdom · October 2022

    Cash of £1,373 and net liabilities of £216,728 at August 2025; average staff fell from 17 to 14.

  • MYSPHERA SLAcquired

    Spain · October 2021

    Revenue of just over €3M in 2025 against a CORDIS forecast of €40M by 2028

  • Slovenia · May 2020

    Revenue was €10,978 in 2025 against a €229,050 loss; staff fell from 5 in 2023 to 3 in 2025.

  • MyWo ASActive

    Norway · June 2019

    Group sales fell from NOK 113.6M in 2023 to NOK 79.5M in 2025 as the net loss doubled

  • N2 APPLIED ASInsolvent

    Norway · May 2020

    Declared bankrupt in March 2025; the last filed accounts (2023) show a NOK 48.8M loss and negative equity

  • NannyML NVAcquired

    Belgium · October 2024

    Equity fell from €1.02M in 2020 to minus €1.69M at the end of 2024, before the sale to Soda

  • NANOGA SAUnknown

    Switzerland · June 2019

    Project website offline by August 2026; no product launch or funding round announced since the 2019 award

  • Iceland · May 2020

    VAT registration cancelled in July 2022; no funding round, partner or product announced since 2021

  • Estonia · June 2022

    No CE Mark by June 2026; the large trial had enrolled over 120 patients and is registered to complete in December 2026

  • NanoScent LtdInsolvent

    Israel · March 2020

    Staff fell from 35 in 2021 to 20 in 2023; an insolvency order was registered in April 2026.

  • United Kingdom · October 2020

    Entered administration in February 2024 with 32 staff, down from a peak of 81; dissolved in May 2026.

  • Israel · June 2019

    Qualigen ended its $10.4M funding pledge in 2023; the 2025 bridge round sought only $500,000

  • Israel · October 2019

    In court liquidation per the 2026 register; operations ceased in November 2025 per Startupim

  • Poland · January 2019

    Remedial proceedings opened in 2025; 2024 revenue was PLN 356.7k against a PLN 2.6M loss

  • Germany · June 2019

    Insolvency was entered in the Berlin register in November 2019, five months after the EIC selection.

  • United Kingdom · March 2022

    Entered administration on 1 February 2023 and was dissolved on 2 May 2024; its IP sold for £1,000

  • France · January 2019

    Court safeguard procedure opened in June 2022; losses every year since and 3 to 5 staff in 2024

  • Spain · March 2022

    No CE Mark or product launch by September 2026, against market entry planned for late 2023

  • Finland · March 2020

    Staff fell from 39 to 15 and revenue from €1.10M to €0.22M between the 2021 and 2025 accounts

  • Poland · March 2022

    Nevomo Poland's reported accounts show PLN 473k operating revenue in 2024; its projects are pilots and memoranda

  • France · January 2020

    Staff fell from 24 at the 2022 project end to 17 in 2025; revenue was €1.09M in 2025

  • Nomoko AGInsolvent

    Switzerland · April 2019

    Bankruptcy opened in December 2023; proceedings suspended for lack of assets in January 2025.

  • United Kingdom · October 2021

    Staff fell from 39 in 2023 to 28 in 2025; £11.8M impairment of tidal technology in 2024

  • Spain · October 2021

    Register puts annual sales under €500,000 with 22 employees, despite distributors in seven countries

  • Ireland · May 2020

    Liquidator appointed in November 2024; the company was dissolved on 8 August 2026.

  • ODICO A/SInsolvent

    Denmark · October 2019

    Declared bankrupt in March 2024; its robots and machines were sold at auction in July 2024.

  • Germany · March 2020

    Insolvency proceedings opened in December 2024 after sales missed targets; the business was sold to Emoving GmbH

  • Op2LysisInsolvent

    France · October 2021

    No O2L-001 trial located in ClinicalTrials.gov search; judicial liquidation and asset sale plan in 2026

  • Israel · January 2019

    Sources reviewed in Nov 2026 show no announced product launch, certification or customer.

  • Spain · October 2019

    Insolvency case 515/2023 opened; a court closed it in July 2024 for lack of assets

  • United Kingdom · January 2019

    Entered administration in February 2026; all but 8 of 163 UK staff were made redundant.

  • Poland · October 2021

    Demo line; EIC Fund loan closed Oct 2024; substrate in trials in 2026; no customers named in sources reviewed

  • Israel · June 2019

    Entered court insolvency proceedings in March 2024 and was listed as ceasing to operate in August 2024

  • Finland · June 2019

    Staff fell from 12 to 0 and revenue from €656k to €64k between the 2021 and 2025 accounts

  • United Kingdom · October 2021

    Headcount flat at 22-23 in 2023-24; cash fell from £4.17M to £1.6M; no round announced since 2022 (checked 4 Nov 2026)

  • Ireland · January 2019

    17 staff in October 2024 against a 2023 plan for 75 by 2026; the hiring target has moved to 2029

  • OZ ehf.Active

    Iceland · June 2019

    Iceland's second-tier league cut OZ from 13 venues in 2023 to 3 in 2025 and ended its media hub contract.

  • Spain · October 2021

    No partner or Phase 3 announced for PBF-680 two years after positive Phase 2 results

  • Paptic OyActive

    Finland · June 2022

    Revenue fell from €10.8M in 2022 to €3.9M in 2025 while the operating loss grew to €5.3M

  • Denmark · October 2025

    Gross profit fell from DKK 35.1M in 2023 to DKK 1.0M in 2025, with a DKK 37.5M loss in 2025

  • Portugal · March 2022

    Sales in Iberinform's band of up to €2M, against over €40M revenue promised for 2026

  • Finland · March 2022

    Revenue fell from €105,000 in 2023 to €19,000 in 2025 and staff from 19 to 10

  • Hungary · January 2019

    Staff of 18 in 2022 and 17 in 2024; a HUF 69.3M net loss in the 2024 accounts

  • PHARROWTECHInsolvent

    Belgium · March 2024

    Bankrupt in April 2025, CEO cited too few orders; the EIC project was terminated in July 2025.

  • Photanol B.V.Insolvent

    Netherlands · June 2019

    Declared bankrupt in February 2025; patents, strains and plant sold for €300,000 in June 2025.

  • Norway · October 2019

    2025 revenue NOK 451,628 against a net loss of NOK 31.8 million; equity NOK 2.1 million.

  • Ireland · June 2019

    Creditors' liquidation opened in February 2026; the liquidators put its software IP up for sale in 2026.

  • PKVITALITYInsolvent

    France · March 2020

    Receivership in February 2023 and liquidation in April 2023, with 27 staff when proceedings opened

  • PlanBlue GmbHInsolvent

    Germany · October 2021

    Provisional insolvency (Mar 2026), proceedings opened, listed in liquidation; Fugro says it integrated the technology.

  • Slovenia · May 2020

    Staff fell from 7.46 to 3.91 and revenue from €604k to €396k between the 2023 and 2025 accounts.

  • Italy · May 2020

    Revenue fell from €7.53M in 2019 to €5.44M in 2024 in the filed accounts.

  • PROSION GmbHInsolvent

    Germany · June 2021

    Court notice records provisional administration (Jan 2026) and proceedings opened (Mar 2026); cause not established

  • Protinhi B.V.Insolvent

    Netherlands · October 2022

    Declared bankrupt in May 2024; bankruptcy wound up in February 2026; no clinical trial reported.

  • Finland · March 2020

    Revenue fell from €476,000 in 2022 to €72,000 in 2025 while staff stayed at 9 to 10

  • France · June 2022

    Revenue fell from €4.31M in 2022 to €3.04M in 2024; receivership in May 2026

  • QfluidicsInsolvent

    France · November 2023

    Stopped paying debts in February 2026 and was placed in judicial liquidation in April 2026.

  • Sweden · November 2023

    Net sales fell 34% to SEK 6.7M in 2025/26 and staff fell from 20 to 15.

  • QUSTOMDOTActive

    Belgium · June 2023

    Staff fell from 14.2 to 6.2 FTEs between 2023 and 2025, and equity dropped to €471,489.

  • Germany · October 2019

    The grant-holder entered liquidation in November 2021; its business moved to a new company

  • RadiSurf ApSAcquired

    Denmark · March 2020

    Owner decided in 2026 to close it after a DKK 8.0M loss in 2025 cut equity to DKK 3.2M

  • Estonia · June 2023

    Sales revenue was €27,272 in 2025, against €1.19 million of other operating income.

  • Netherlands · April 2019

    Revenue of €2.23M in 2023 and €2.56M in 2025; output steady at 8 generator systems a year in 2024 and 2025

  • Netherlands · May 2020

    SEC filings list 32 employees at end-2023 and 19 employees and contractors at end-2024 (not like for like)

  • Denmark · May 2020

    All three recycling plants failed between December 2024 and April 2025; no staff budgeted for 2025

  • Germany · June 2022

    Insolvent in February 2025, five months after a €5M round; listed in liquidation from May 2025 per North Data

  • Denmark · March 2023

    Pivotal trial stopped for lack of effect; company dissolved after voluntary liquidation in May 2026.

  • Sweden · June 2022

    Net sales of SEK 1.3M in 2024 with a SEK 5.0M loss and SEK 0.26M in cash at year end

  • Poland · June 2019

    Last product news in March 2022, website parked since 2024, 2023 accounts filed only in May 2026

  • Reselo ABActive

    Sweden · June 2022

    No plant reported built; turnover fell to SEK 7.7M in 2025 with six staff and a SEK 2.2M loss

  • Israel · October 2020

    Website offline since August 2024; last annual report on file is for 2023 and the register flags it as violating

  • France · June 2023

    No revenue, 3 to 5 employees, and its drug had not entered human testing by the end of the EIC project.

  • Israel · March 2022

    No CE Mark or FDA approval by September 2026, against a 2024 launch and €15M revenue promised for 2025

  • RHOVAC ApSPivoted

    Denmark · June 2019

    Staff fell from 2 in 2021 to 0 from 2023; the Danish unit reported no activity in 2025

  • Italy · March 2022

    Revenue fell from €762k in 2024 to €353k in 2025, with a €892k net loss

  • Austria · March 2020

    Bankrupt in July 2022 with €1.4M of liabilities; the Austrian GmbH was deleted from the register in July 2024.

  • Netherlands · April 2019

    Balance sheet fell from €1.13M at end 2020 to €8,430 at end 2023, with no staff; the BV closed in 2025

  • Sakowin SASInsolvent

    France · March 2022

    Payments stopped on 24 March 2026; receivership from 2 April and judicial liquidation from 15 June 2026

  • Denmark · January 2020

    Staff fell from 14 in 2023 to 11 in 2025; development paused and staff dismissed in January 2026

  • Denmark · January 2023

    2025 gross loss of DKK 0.7M, net loss DKK 55.5M, equity minus DKK 114M; staff fell from 31 to 27.

  • France · June 2023

    Revenue was €41,958 in 2023; 2024 revenue is not disclosed in the public ratios dataset.

  • Sweden · October 2021

    No product sales; first human implant readiness now targeted for February 2028

  • Austria · April 2019

    Staff fell from about 50 in September 2023 to 10 at the June 2026 insolvency filing.

  • Switzerland · January 2020

    Investor PVA TePla wrote its 23.9% stake down to zero at the end of 2025, citing operational challenges.

  • France · March 2022

    Judicial liquidation opened on 18 September 2024 after payments stopped on 6 September

  • United Kingdom · October 2020

    Average staff fell from 11 to 3 between the 2023 and 2025 accounts; cash dropped to £8,601.

  • Denmark · March 2022

    Staff fell from 93 in 2023 to 54 in 2025 while the annual loss rose to DKK 43.4M

  • France · January 2019

    Receivership opened in July 2025 and converted to liquidation in November 2025 after no buyer came forward.

  • Switzerland · March 2020

    Staff fell from over 30 in October 2021 to 19 at the June 2023 sale to Q-SYS.

  • France · October 2020

    Liquidation opened in May 2025; the net loss grew from €0.53M in 2022 to €1.18M in 2023.

  • Estonia · March 2022

    Sales revenue of €93,430 in 2025 and four employees in the second quarter of 2026

  • Latvia · March 2020

    Staff fell from 42 in 2022 to 28 in 2025 and turnover stayed below €0.9M a year in 2019 to 2025

  • France · January 2020

    Liquidated in October 2023; the case closed in May 2024 for insufficient assets, after no Series A was announced.

  • Netherlands · June 2019

    Staff fell from 51 in the 2022 accounts to 40 in 2024 and 2025; equity fell 19% in 2025.

  • Spain · October 2021

    Pilot line of 100 pairs a day; annual sales below €500,000 per register data

  • Spain · April 2019

    Register puts turnover under €500K; in 2024 the business was sold to Numintec as a unit

  • SMART IMMUNEInsolvent

    France · January 2023

    Entered receivership in March 2025 and liquidation in June 2025; assets sold for €250,000.

  • Germany · October 2019

    Filed for insolvency in December 2023 with 25 staff, seven months after a €3.6M bridge round

  • Germany · June 2019

    No funding round since the 2021 seed and no launch of the gloves promised for 2025 found by October 2026

  • Belgium · October 2019

    Equity fell from €817,706 in 2021 to minus €1,650,668 in 2024; bankrupt in June 2026

  • Ukraine · January 2019

    US parent's revenue fell from $49,878 in 2020 to $19,853 in 2022, with a $524,015 loss in 2022

  • United Kingdom · June 2023

    Staff fell from 12 to 9 between 2023 and 2026, and cash dropped to £113,155 in June 2026.

  • SOMAPROBES SLInsolvent

    Spain · March 2020

    Declared insolvent without assets in July 2024; its website was disabled by August 2024

  • Israel · April 2019

    Equity fell from NIS 19.9M in June 2024 to NIS 2.2M in June 2026; 6 staff listed in 2026

  • Sooma OyActive

    Finland · March 2020

    Revenue fell from €1.57M in 2022 to €1.08M in 2025 while the operating loss grew to €2.26M

  • Israel · June 2019

    Last annual report filed for 2023; flagged a violating company and its website offline by 2026.

  • France · October 2021

    Turnover not disclosed in 2024 accounts; company reported trial preparations; judicial reorganization opened Aug 2026

  • Denmark · June 2019

    Equity fell to DKK -8.44M in the 2021 accounts; bankruptcy followed in November 2022.

  • Denmark · June 2021

    Staff fell to 6 and equity to DKK 2.98M in the 2025 accounts

  • Spain · October 2021

    No CE mark or launch found in sources reviewed 4 Nov 2026; register data put sales under €500,000 a year

  • Denmark · October 2021

    Declared bankrupt on 21 May 2024 before the project ended; CORDIS marks it closed with no public results report.

  • Sweden · June 2022

    Turnover fell from SEK 14.9M in 2024 to SEK 2.6M in 2025 with a SEK 20.5M loss and 14 staff

  • Germany · March 2020

    Insolvency opened in January 2024; the company was struck off the register as assetless in March 2025

  • Hungary · January 2019

    Net revenue of HUF 3.291M (€9,013) in its last filed accounts, for 2020; zero staff in 2025.

  • Romania · May 2020

    Staff fell from 7 to 2 in the 2023 accounts; insolvency opened in February 2025

  • Belgium · June 2022

    Staff fell from 21.7 to 11.7 FTE in 2023-2025; 2025 loss €8.0M with equity down to €3.0M

  • Synovance SASInsolvent

    France · June 2021

    Receivership on 9 July 2025 and liquidation from 22 July 2025

  • Sweden · October 2021

    Ceased operations in July 2023 after failing to raise capital, per CORDIS; no preclinical or clinical trials started

  • Italy · April 2019

    Revenue fell from €2.25M in 2022 to €410,840 in 2024; 4 employees listed, against 18 in 2019

  • Israel · June 2019

    2026 IPO filing shows three full-time staff, $2.0M cash at end-2025 and going-concern doubt

  • Italy · May 2020

    Successor Tecno Italia Digital's revenue fell from €4.02M in 2022 to €2.93M in 2023, with a loss

  • Belgium · October 2019

    Lost €3.28M in 2023, handed its activities to Wavenet in June 2024 and was dissolved in February 2026

  • Denmark · January 2019

    Gross profit DKK 14.02M in 2024/25 against 14.68M in 2018/19, with a DKK 2.65M net loss in 2024/25

  • Denmark · March 2020

    Average staff fell from 7 in 2020/21 to 0 in 2023/24 and 2024/25; product assets written to zero in 2022/23

  • Belgium · January 2019

    Staff averaged 9.6 FTE in 2023 against 125 planned; Bosch dissolved the company in December 2024.

  • Thericon GmbHInsolvent

    Germany · March 2022

    Provisional insolvency administrator appointed by the Mannheim court on 26 March 2024

  • Germany · January 2020

    Filed for insolvency in November 2022 with 24 staff; successor Meysens got an insolvency court order in November 2024.

  • United Kingdom · April 2019

    Staff fell from 8 to 3 between the 2022 and 2024 accounts; liquidation began in January 2025

  • Bulgaria · October 2019

    Register data via finansi.bg show revenue down 10.6% in 2025 and 31 staff now, against 39 average insured in 2023

  • Tripleye GmbHInsolvent

    Germany · June 2022

    In insolvency proceedings in 2026; administrator agreed a €5,000 sale of IP rights under a 12 May 2026 contract

  • Turbulent NVAcquired

    Belgium · April 2019

    Average staff fell from 6.9 FTE in 2020 to 4.9 in 2025; losses of €1.72M in 2024 and €1.94M in 2025

  • Tusti B.V.Insolvent

    Netherlands · May 2020

    Declared bankrupt on 13 December 2024, nine months after its EIC project ended

  • Germany · March 2023

    Beneficiary entered liquidation in October 2025 with €68,227 equity at end of 2024.

  • France · October 2021

    The company said it could no longer sustain the app; judicial liquidation opened October 2025

  • UPMEM SASInsolvent

    France · June 2021

    Receivership in October 2024 and liquidation from July 2025

  • Poland · May 2020

    Deleted its Spanish and Gutkowo branches from the register in October 2024

  • Sweden · June 2019

    Bankrupt in January 2021 with about 20 staff after Region Skåne and Västra Götaland ended its contract

  • Israel · October 2021

    OVAL did not meet its primary endpoints; successor Notable Labs filed voluntary Chapter 7 petitions in October 2024

  • Switzerland · May 2020

    Bankrupt in May 2025 with at most CHF 12,000 of assets, per the bankruptcy office.

  • Netherlands · March 2020

    Revenue fell from €2.95M in 2020 to €0.74M in 2022; bankrupt in June 2023 with 12 staff left

  • Belgium · October 2022

    Turnover of €22,546 in 2025 with a €2.02M loss; the test had not been CE-marked

  • Germany · March 2022

    Insolvency application 29 Dec 2025; provisional administrator 30 Jan 2026; proceedings opened 1 May 2026

  • Denmark · March 2020

    Average staff fell from 13 in 2021 to 7 in 2025; 2025 revenue was DKK 5.3M against DKK 10.2M in 2022

  • Denmark · March 2020

    Average full-time staff fell from 8 in 2021 to 2 in 2025; gross profit turned negative in 2024 and 2025.

  • Denmark · October 2020

    Average staff was 10 in both the 2019/20 and 2025/26 accounts; net profit fell to DKK 1.47M in 2025/26

  • Italy · June 2021

    Secondary account summaries report 2025 revenue of €73,600 and net loss of €901,900

  • VOLTAERO SASInsolvent

    France · May 2020

    Receivership opened in October 2025; liquidation and asset sale to Aura Aero in June 2026.

  • Denmark · June 2019

    UK parent staff fell from 11 to 7 in 2025 and its shareholders' funds reached minus £382,691

  • Norway · May 2020

    Filed for its own bankruptcy in June 2023; unsecured creditors received a 1.2341% dividend in 2024

  • Israel · June 2021

    Shut down in August 2026 after failing to raise enough to expand

  • Wimao OyInsolvent

    Finland · October 2019

    Declared bankrupt in December 2025 after a failed restructuring; 2024 net loss of about €2.3M

  • Woodio OyInsolvent

    Finland · October 2020

    Revenue fell 30.3% to €606,000 in 2024 with 27 staff; declared bankrupt in May 2026.

  • Sweden · March 2022

    Net sales of SEK 1.7M in 2024, down from SEK 3.0M in 2023, with a SEK 12.1M net loss

  • Netherlands · October 2022

    Ceased operations in March 2023 after its Phase 3 trial was stopped; Kompass lists it in liquidation.

  • XENOMATIXActive

    Belgium · March 2022

    Gross margin fell from €4.41M to €2.93M and net loss grew to €2.15M in the year to June 2025

  • XSUNActive

    France · October 2019

    Net loss rose to €2.59M on €264,748 of sales in 2024; court restructuring opened in 2026

  • Spain · January 2019

    Staff fell from over 25 in 2018 to 1 to 9 per Infoempresa; all directors resigned between 2024 and 2026

  • Zigrid ABActive

    Sweden · June 2023

    Net sales were SEK 117,000 in 2025, its first, against SEK 13.2 million of other income.

Scaling unclear (576)