14 Jun 2022
EIC announces first major equity investment
On 14 June 2022, the Commission announced the first direct equity investment by the European Innovation Council (EIC) Fund following its launch under Horizon Europe. The French start-up, SiPearl, was selected for support by the EIC Accelerator. In addition to a €2.5 million grant, the company will receive a €15 million equity investment to develop and scale up its breakthrough innovation in chip technology. The company will be supported to bring to market a high-performance, low-power European microprocessor for exascale supercomputing. SiPearl is a spin out from the European Processor Initiative (EPI) consortium project, which was funded by the Euro-HPC Joint Undertaking.
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