Following a highly competitive selection process, the European Innovation Council has chosen Samplix to receive a €2.5 million grant, along with up to €7.5 million in equity investment, as part of its latest round of deep tech start-up investment funding.

The EIC Accelerator program is Europe’s flagship initiative to boost European innovation, focused on identifying and supporting the development and scaleup of companies with breakthrough technologies and game-changing innovations.

On March 29, the EIC published that it has committed to aiding Samplix in the development of its microfluidics technology for functional characterization of single cells, which is crucial for revealing the heterogeneity of immune cells fighting cancer, among other key applications.

“We are extremely proud to receive this support from the EIC, which will allow Samplix to develop even more advanced products, and dramatically broaden our market scope,” said Lars Kongsbak, CEO of Samplix. “Samplix is at the point where we are ready to expand internationally, initially with an office in Silicon Valley to be closer to our customers and to exploit several partnership opportunities in that area.”

The EIC commitment includes the mentioned equity investment of €7.5 million, to be matched by venture or strategic investors. Thus, once completed, this will bring the total funding and grant support to €17.5 million. In addition, Samplix has this month concluded an investment round with a consortium of its current investors, amounting to €5.0 million.

The EIC noted that “the companies were selected in a highly competitive process, in which 159 companies were interviewed by juries of experienced investors and entrepreneurs, out of a total of 476 applications. The 32 selected companies will together receive close to €196 million in funding in a combination of grants and equity investments.”