EBAN Summit 2022: Interstellar Lab’s Vision for a Sustainable Future Secures €228,700 Investment
Interstellar Lab, a female-led company that’s taking farming to new heights by combining agri- and space-tech, secured a €228,700 investment through a special purpose vehicle (SPV) at our 2022 European Angel Investment Summit! The company was named the “Scaleup of the Month” at the Summit and attracted investors from Belgium, Spain, Georgia, Sweden, France, and the United States in an investment round lead by the EBAN Space Community.
The European Angel Investment Summit is one of the most sought-after events in the angel investing community, where startups and scaleups come together with potential investors. It’s known for its high-quality investment opportunities and the diverse group of investors it brings together.
Interstellar Lab specialises in developing and commercialising advanced technologies such as agritech, robotics, and biotechnology. The company’s mission is to create a sustainable future with the help of environmentally-controlled modules and its vision is to grow life anywhere, on earth or in space. The company’s team is passionate about its work and is determined to make a real impact on the world.
But how did Interstellar Lab make its way to EAIS 2022? On 25 June 2021, our member, Sophia Business Angels, held its first International Venture Academy on “Green Tech” in cooperation with the Shanghai Green Technology Bank. It was a hybrid event, but several of the presenting entrepreneurs came in person, including Barbara Belvisi of Interstellar Lab. An SBA Member, Sylvain Theveniaud had already invested in the company and proposed it for the IVA.
Interstellar Lab successfully won the IVA award and as part of the prize, was given the opportunity to present to the SBA Members at one of their regular investment meetings for investable companies. The presentation, conducted by Barbara Belvisi, resulted in additional investment from SBA Members who were impressed with the company. This led to a recommendation for Interstellar Lab to participate in the EAIS “Scaleup of the Month” Competition in Brussels. There again, Interstellar Lab won, and thoroughly captivated the Angel Investors at the Summit.
Ted Elvhage from Rymdkapital and also an EBAN Space Executive Committee Member offered to establish the EBAN Space SPV at no cost for the EBAN Member Community, ensuring that all funds would be directed towards Interstellar Lab.
One of the main investors and EBAN President Emeritus Candace Johnson said “What made us all invest in Interstellar Lab? Barbara Belvisi is a remarkable entrepreneur. She is putting together a sustainable “pod” for life on earth and in space. She already has contracts from ESA and NASA for her pods in space and many perfume, agricultural, and plant-based companies for her pods on earth. The business plan is ambitious but doable. The vision of “Growing Life Anywhere” is compelling and she is hitting her revenue and production targets. What more could you want?”
In conclusion, Interstellar Lab’s success at the EBAN European Angel Investment Summit 2022 is a true testament to the company’s innovative approach, growth potential and its ability to make an impact on the world. With this investment, Interstellar Lab is set to soar to new heights and make a real difference in the world with the help of technology.
2022 was a milestone year for the European Innovation Council (EIC) Fund, with the announcement of its first 71 investment decisions. The EIC Accelerator, which is part of the fund, also saw continued high demand for blended finance in 2023.
The EIC Fund, which is managed by the European Commission, provides funding and support for innovative small and medium-sized enterprises (SMEs) and research projects. In 2022, the fund made its first investment decisions, allocating €1.3 billion to companies and research projects across Europe. The investments were focused on areas such as advanced manufacturing, biotechnology, and clean energy.
Part of the EIC Fund, the EIC Accelerator also saw high demand in 2023. The program provides funding, mentoring, and networking opportunities to SMEs and start-ups with innovative ideas. In addition, it also offers blended finance, which combines funding from the public and private sectors to support the development of new technologies and products.
According to the European Commission, the EIC Accelerator has received over 4,000 applications since its launch in 2018, with an acceptance rate of around 5%. This high demand for blended finance is a sign of the growing interest in the program and the need for support for innovative SMEs and start-ups.
Overall, the EIC Fund and Accelerator are playing a crucial role in supporting innovation and growth in Europe. The successful investment decisions in 2022 and continued high demand for blended finance in 2023 demonstrate the need for and impact of this type of support for SMEs and research projects.
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This report explores the latest trends in deep tech, VC, university spinouts, and more. It found that European deep tech startups raised $17.7B in 2022, a 22% decrease from 2021. The four main categories in deep tech are Novel AI, Future of Computing, Novel Energy, and Space Tech. Climate Tech also has a growing share of deep tech funding, from 6% in 2016 to 34% in 2022.
