The 10 European Startups That Pulled in the Biggest EIC Checks This Year

Jan de Vries · 2026-11-04

The European Innovation Council doesn't hand out money quietly. And when you look at where its biggest checks went during the first three quarters of 2026, you start to see the shape of Europe's next tech wave. We got exclusive data on all 85 EIC investments made this year. The top ten tell a story that runs from satellites to fusion reactors to quantum computers. Here's who took home the largest commitments. ### How the Ranking Works We ranked companies by total EIC Fund commitments signed between January and September 2026. Where a company got multiple investments, we added them up. Where the EIC joined a bigger round with other backers, we noted its slice of the pie. ### EnduroSat (Bulgaria) — $37.5 Million Founded in 2015 by Raycho Raychev, EnduroSat makes satellites accessible and affordable. Its satellite-as-a-service model lets clients launch space missions without building their own spacecraft. The $37.5 million commitment was signed August 17, 2026. The company then announced a $205 million round in September, with the EIC among the backers. ### Reverion (Germany) — $36.2 Million This Technical University of Munich spin-off builds reversible power plants. They generate electricity from biogas and hydrogen, then convert surplus power into storable fuels. The goal? Make renewable energy available when the sun isn't shining and the wind stops blowing. Its EIC money came across two investments in June and August 2026, totaling $36.2 million. Reverion also closed a $167 million Series B in September with the EIC Fund, Kembara, Allianz, and KfW Capital. ### Pasqal (France) — $32.6 Million Paris-based Pasqal builds quantum computers using neutral atoms manipulated by lasers. The tech targets tough problems in materials science, optimization, and drug research. The team includes Alain Aspect, who won the 2022 Nobel Prize in Physics. Pasqal secured about $32.6 million from the EIC on January 30, 2026, while still private. By August, it had gone public on Nasdaq. ### Focused Energy (Germany) — $32.6 Million Darmstadt-based Focused Energy wants to make nuclear fusion commercially viable. It uses powerful lasers to compress and heat fuel, chasing a process that could generate electricity without fossil-fuel emissions. The German-American startup got roughly $32.6 million in May 2026. That same month it announced a $240 million Series A with RWE, SPRIND, Prime Movers Lab, and the EIC Fund. The plan is a laser-fusion plant in Biblis, Germany, sometime in the 2030s. ### SMART Photonics (The Netherlands) — $27.2 Million Based in Eindhoven, SMART Photonics makes photonic integrated circuits. These chips use light instead of relying only on electrical signals to move and process data. Its indium phosphide tech matters for telecom, data centers, AI infrastructure, and sensing. The company runs as an independent manufacturer, so customers can design their own chips without building a fab. It secured $27.2 million from the EIC Fund in May 2026. ### What This Tells Us Notice the mix. Space. Energy. Quantum. Chips. These aren't random bets. They're the infrastructure layers of Europe's industrial future, and public money is flowing toward them. > "The top 10 represent the forefront of European innovation" — and the spread of sectors shows just how broad that frontier has become. For founders watching from the US, the takeaway is simple: Europe is putting serious capital behind deep tech. If you're building in these spaces, the EIC Fund may be worth a conversation. - Space tech is getting real backing, not just headlines - Energy transition startups are landing both public and private money - Quantum is moving from lab to public markets - Semiconductor manufacturing independence is a priority The full list of 85 investments shows the same pattern. Public capital is acting as a catalyst, pulling in private investors who might otherwise sit on the sidelines. That's the quiet power of the EIC model. We'll keep tracking these commitments as more data comes in for the rest of the year.