How one start-up secured European Innovation Council funding

27 Aug 2024 | News
European Innovation Council
R&D Funding
Start-ups
Super computers
Digital

LightSolver is building a novel, all-optical supercomputer and hoping EU funding can help bring it to the market

By Goda Naujokaitytė

Ruti Ben-Shlomi, LightSolver's co-founder and CEO. Photo credits: Ruti Ben-Shlomi / LinkedIn

LightSolver, a Tel Aviv-based start-up developing a novel all-optical supercomputer, has made significant strides since its launch in 2020. But pioneering a new paradigm in supercomputing comes at a price, which the European Innovation Council (EIC) has helped with.

The company secured a €2.5 million grant combined with a €10 million equity investment in the latest round of the EIC Accelerator, a €7 billion funding programme for high-risk deep tech start-ups.

Before that, LightSolver had only raised seed money. Now it hopes the backing of the EU’s start-up fund will be a signal to other investors that a supercomputer based solely on lasers, bypassing traditional electronic components, could be a commercial reality.

Such an…

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