About EIC Fund
EIC Fund is an accelerator and incubator program based in Brussels, Belgium. With a presence in 56 countries, it has supported around 4,339 startups in sectors like High Tech, Enterprise Applications. As of Aug 2026, EIC Fund has 7 unicorns under its belt and has witnessed 418 portfolio exits. Most notable companies in
its portfolio include Proton, RELEX and Monese. The program is backed by a team of 13 people who primarily support Grant (prize money) startups based in Spain. Its latest investment was a $46.5M Series C round in Infinite Orbits on Nov 17, 2025, which also saw participation from Matterwave Ventures and Wind Capital.
EIC Fund's List of Top Investments
EIC Fund has a portfolio of 4,339 companies, including 7 unicorns. Their most notable investments are in Ophiomics and Octave.Their portfolio spans across Spain, Italy, Germany and 53 more locations. They have invested in High Tech, Enterprise Applications, Life Sciences and 42 other sectors, across stages such as Grant (prize money), Seed and 7 more. Here is the list of top investments by EIC Fund:
1. Proton
Provider of encrypted email, calendar, VPN, password management, and cloud services. It offers tools for secure communication, private scheduling, online activity protection, and password management. The company provides cloud storage, document editing, and spreadsheet collaboration. It also features an AI assistant focused on user privacy and an email alias service.
Key facts about Proton
- Founded Year: 2014
- Location: Geneva (Switzerland)
- Stage: Seed
- Total Funding till date: $2M
- Employee Count: 925 as on Jun 30, 2026
- Investors: CRV, The TOP 100 and 4 Others
- Latest Funding Round: Grant (prize money), Mar 31, 2021, $*****
- Highlight: Editors' Pick
2. RELEX
Provider of unified platform for retail and supply chain planning. The platform offers solutions for demand planning, manufacturing planning, and distribution planning. It facilitates collaboration across the supply chain, including inventory and replenishment management. The platform also provides tools for retail operations, space and assortment planning, and pricing and promotions.
Key facts about RELEX
- Founded Year: 2005
- Location: Helsinki (Finland)
- Annual Revenue: €100M - €500M as on Dec 31, 2023
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $816M
- Employee Count: 2,399 as on Jun 30, 2026
- Investors: TCV, Summit Partners and 4 Others
- Latest Funding Round: Series D, Dec 11, 2024, $*****
- Highlight: Editors' Pick
3. Monese
Provider of digital bank solutions for individuals and businesses. It offers savings and current accounts, prepaid cards for online offline purchases, bill payments, money transfers, and more. It features multi currency accounts enabling users to transact using multiple currencies. The application is available on Android and iOS platforms.
Key facts about Monese
- Founded Year: 2013
- Location: London (United Kingdom)
- Annual Revenue: £10M - £50M as on Dec 31, 2023
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $269M
- Employee Count: 146 as on May 31, 2026
- Investors: Kreos Capital, Seedcamp and 99 Others
- Latest Funding Round: Series C, May 01, 2024, $*****
- Highlight: Acquired
4. Verbit
Provider of cloud and AI-based natural language processing platform to develop speech recognition applications. It is leveraging a cloud-based speech recognition technology that is based on the latest advances in the field of deep learning neural networks. It has applications in court reporting and depositions, education and disability needs, distance learning and relearning, media production, and business analysis.
Key facts about Verbit
- Founded Year: 2017
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $550M
- Employee Count: 1,624 as on May 31, 2026
- Investors: Sapphire Ventures, Vertex Ventures Israel and 38 Others
- Latest Funding Round: Series E, Nov 23, 2021, $*****
- Highlight: Editors' Pick
5. Sword Health
Provider of AI-powered digital physical therapy and pelvic health solutions. It offers an expert AI Care for pain through digital physical therapy that pairs AI and licensed clinicians. It uses artificial intelligence and licensed clinicians to deliver virtual care for musculoskeletal conditions, pelvic health, mental health, and cardiometabolic health. It focuses on reducing healthcare costs by preventing surgeries, reducing pain, and improving recovery outcomes through virtual care.
Key facts about Sword Health
- Founded Year: 2015
- Location: New York (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $450M
- Employee Count: 1,189 as on May 31, 2026
- Investors: Sapphire Ventures, Bond Capital and 38 Others
- Latest Funding Round: Series E, Jun 17, 2025, $*****
- Highlight: Editors' Pick
EIC Fund's Year-on-Year Investment Trends
EIC Fund has invested in 4339 companies over the last 20 years, with an average of 346 new investments annually in the last 10 years. In 2025, it made 17 investments. Its most recent first time investment was in Infinite Orbits and most recent follow-on round was in Ferroelectric Memory Company.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 6 | 11 | 17 |
2024 | 15 | 20 | 35 |
2023 | 148 | 67 | 215 |
2022 | 254 | 132 | 386 |
2021 | 240 | 166 | 406 |
2020 | 409 | 74 | 483 |
2019 | 827 | 125 | 952 |
2018 | 667 | 83 | 750 |
2017 | 603 | 20 | 623 |
EIC Fund's Investments by Stage
EIC Fund has made 4171 investments in Grant (prize money) stage with an average round size of $526K, 29 investments in Seed stage with an average round size of $3.28M and 26 investments in Series A stage with an average round size of $17.4M.Stage of entry | No. of Investments |
|---|---|
Grant (prize money) | 4171 |
Seed | 29 |
Series A | 26 |
Series B | 14 |
Series C | 3 |
Others | 8 |
Note: We have considered here, only first round of investments
EIC Fund's Investments by Sector
EIC Fund has a diverse portfolio, with companies operating in the High Tech, Life Sciences, Enterprise Applications, Sustainability Tech and Environment Tech. Notably, it has invested in 2627 Tech companies, 2564 Enterprise (B2B) companies, 1182 Software companies and at least 1056 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
High Tech | 1002 |
Life Sciences | 811 |
Enterprise Applications | 789 |
Sustainability Tech | 637 |
Environment Tech | 456 |
Others | 4875 |
Note: We have considered here, only first round of investments
EIC Fund's Investments by Geography
EIC Fund has made most investments in Spain (664), followed by Italy where it has made 479 investments.Country | No. of Investments |
|---|---|
Spain | 664 |
Italy | 479 |
Germany | 340 |
United Kingdom | 335 |
France | 298 |
Others | 2130 |
Note: We have considered here, only first round of investments
EIC Fund's recent investments
EIC Fund has not made any investment in 2026 so far.Here are the most recent investments by EIC Fund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Nov 17, 2025 | France | Series C | 9536 | [+4] | |
Nov 13, 2025 | Germany | Grant (prize money) | 9723 | ||
Oct 23, 2025 | France | Series B | 9275 | [+5] | |
Oct 15, 2025 | Spain | Series A | 6196 | [+6] | |
Oct 02, 2025 | Germany | Series A | 3973 | [+2] |
Unicorns in EIC Fund's Portfolio
EIC Fund has 7 unicorns in its portfolio - ICEYE, IQM, AlphaSense and others. The most recent unicorn in their portfolio is ICEYE. It became a unicorn in 2025, 7 years after EIC Fund first invested in it.Here is a list of unicorns in EIC Fund's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
72 | Manufacturer of radar satellite constellations providing persistent earth observation imagery | 2014 | Espoo | Series F | xfqmzof | ||
76 | Developer of superconducting quantum computers | 2018 | Espoo | Series B | ztqknxh | ||
74 | AI powered market intelligence and search platform | 2011 | New York | Series F | qhkqkeo | ||
67 | Developer of electric vehicle technology and high-performance electric sports cars | 2009 | Sveta Nedelja | Series D | afbbqpo | ||
76 | Provider of unified platform for retail and supply chain planning | 2005 | Helsinki | Series D | zajclvc |
IPOs and Publicly Listed companies in EIC Fund's Portfolio
97 of EIC Fund's portfolio companies have become public. Regentis Biomaterials got listed on the New York Stock Exchange (NYSEMKT), in Dec 2025 at marketcap of $39.4M and Acast got listed on the Stockholm Stock Exchange (STO).Here are EIC Fund's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 04, 2025 | May 31, 2021 | Grant (prize money) | 6951 | |
Nov 20, 2025 | Jun 30, 2019 | Grant (prize money) | 3773 | |
Jun 09, 2023 | Jun 30, 2016 | Grant (prize money) | 8576 | |
Aug 03, 2022 | Dec 31, 2015 | Grant (prize money) | 7194 | |
May 25, 2022 | Oct 31, 2015 | Grant (prize money) | 9967 |
Acquired companies in EIC Fund's Portfolio
321 companies from EIC Fund's portfolio have been acquired. The most recent acquisition was GMSPAZIO in Aug 2026 by Maregroup for $*****.Here are EIC Fund's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 05, 2026 | Dec 31, 2015 | Grant (prize money) | 5149 | |
Jul 24, 2026 | Aug 31, 2020 | Grant (prize money) | 2277 | |
Jul 10, 2026 | - | - | 6902 | |
Jul 07, 2026 | Sep 30, 2018 | Grant (prize money) | 9224 | |
Jun 30, 2026 | May 31, 2016 | Grant (prize money) | 6004 |
Team profile of EIC Fund
EIC Fund has a team of 13 members including 1 Partner and 1 Principal located in France and United States. EIC Fund's team sits on the board of 1 company.Co-investors of EIC Fund
Over the past 20 years, 4746 investors have co-invested in EIC Fund's portfolio companies. This includes funds and angels.
- Invested before EIC Fund: Europa, Venture Kick and 2062 others have invested in rounds before EIC Fund. There are 3309 companies where Europa has invested before EIC Fund and 51 companies where Venture Kick has invested before EIC Fund.
- Top Co-investors of EIC Fund: 154 investors entered a company along with EIC Fund. These include investors like Invest-NL (3 companies).
- Invested after EIC Fund: A total of 2528 investors have invested in EIC Fund's portfolio after their investments. Top Investors include Europa (211 companies) and European Innovation Council (52 companies).
Recent News related to EIC Fund
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QuantWare raises USD 20 mln Series A to develop large quantum processorsTelecompaper•Mar 04, 2025•QuantWare, Invest-NL, InnovationQuarter, European Innovation Council and 5 others
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Skyfora secures €4 million to supercharge AI weather forecasts using telecom GNSS meteorologyEU-Startups•Mar 03, 2025•Skyfora, Ugly Duckling Ventures, LUMO Labs, Voima Ventures and 2 others
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Wooptix closes €10M Round C led by Samsung and SETTDiario Siglo XXI•Feb 28, 2025•Wooptix, Samsung Venture Investment, Sociedad de Tasacion S.A., Bullnet Capital and 6 others
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Apollonian supports Tada Group in securing 9 million SEK from the EIC fundApollonian•May 25, 2023•Apollonian, Interlinked, EIC Fund, Tada Group and 1 other
