The EIC Scaling Club’s 120 European deep tech
scaleups have collectively raised over €1.2 billion in funding within the scope
of the programme. The milestone was announced by Stéphane Ouaki, Acting
Director of the European Innovation Council & SMEs Executive Agency (EISMEA),
at the EIC Scaling Club Ambition Forum held on 3 September in Riga, Latvia.
Funded by the European Innovation Council
(EIC), the EIC Scaling Club is made up of 120 of Europe’s most promising deep
tech scaleups in 10 sectors, ranging from Agri Tech to Space Tech. The Club’s
purpose is to support its members’ growth over the course of the 2-year
programme.
The Club inaugurated its members in two
cohorts – the first cohort, which joined in April of 2024, has already
experienced funding growth of 58.27% since joining, reaching a median of
€22.34 million per funding round. Meanwhile, the second cohort, which joined six
months later, has grown their teams by 27.7%.
The most funded sectors within the EIC Scaling
Club are:
- €447.1 million – Next-Gen
Computing, with an average round of €37 million - €220.7 million – Renewable
Energies, with an average round of €22 million - €133.8 million – Smart Mobility,
with an average round of €22 million
The largest deals of the period include:
Multiverse Computing raised €189 million this June, following €67 million in
March 2025, for a total of €256 million raised in 2025. The Spanish quantum
software company delivers quantum and quantum-inspired solutions to solve
complex challenges in finance, energy, manufacturing, and beyond.
Axelera AI from the Netherlands raised €61.6
million in 2025 and €58.6 million in 2024 to develop its AI-native hardware and
software platform to accelerate artificial intelligence.
Aerones, the world’s leading robot-enabled
wind turbine maintenance and inspections service provider from Latvia, raised
€53.4 million in 2025.
Edurosat,
from Bulgaria, raised €43 million and another undisclosed round in 2025 to make
satellite and space missions universally accessible. The company aims to
transform the complex satellite industry into a streamlined data service,
giving instant access to space data from hundreds of orbiting sensors.
H2Site, from Spain, raised €36 million to
develop its patented palladium-alloy membrane reactors for high-purity hydrogen
separation.
While speaking at the Forum, Stéphane Ouaki,
Acting Director of EISMEA said:
Europe’s
deep tech ecosystem has hit a new milestone: The EIC Scaling Club companies
have together raised more than €1.2 billion since joining the action. This
demonstrates that Europe’s most promising innovators are gaining investor
backing, both from the private and the public sector. This achievement is not
only about numbers, but also about Europe gaining its strength to lead in
future-shaping technologies, making our continent more competitive,
sustainable, and secure.
Since joining the EIC Scaling Club, the
companies have raised a cumulative €287.6 million in 2024, while in 2025, they
have already surpassed €910.6 million, indicating an accelerated rate of
fundraising.
In order to achieve the project’s fundraising
targets, the EIC Scaling Club provides Club Members with biannual networking
events, facilitating 1:1 meetings with deeptech investors. This year, the Club
Members have gathered in Riga, Latvia, for the EIC Scaling Club Ambition Forum,
which is hosted by the University of Latvia, with the Latvian Investment and
Development Agency (LIAA) as the event’s partner.
To develop deep tech technologies in Europe, both public and private
funding have to work together in a format that is most appropriate for the
time, as well as for the specific company. Latvia is moving in this direction,
and hosting Europe’s leading technology developers in Riga, as well as Europe’s
public and private funding representatives, 120 Club Members, and ecosystem
participants, is a major foundational block for Latvia’s innovation ecosystem.
Many meetings will be held, conversations will be further developed and
decisions will be made. Riga is a very comfortable and hospitable place for
hosting such conferences in Northern Europe.
– Egita
Aizsilniece-Ibema, EIC Scaling Club Advisory Council Member, and Head of the
Latvian office for Innovation and Technology in Brussels
The next EIC Scaling Club event will be held
in the first half of 2026. It will be the final event of the programme, which
will run until October 2026.
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