The D2XCEL project, the pan-European scaling programme for deep tech and digital ventures, released its Cohort 1 Impact Data, showcasing strong investment growth, job creation, and cross-border scale-up momentum across Europe’s innovation ecosystem.
Funded by the European Innovation Ecosystems programme (Horizon Europe), D2XCEL project supports high-potential ventures in expanding beyond national markets through tailored mentoring, investor matchmaking, and access to leading public and private customers.
A tailored scaling journey
Launched in November 2023 and running until April 2026, the programme already taps into a network of 250+ investors, lead customers, and innovation hubs across Europe.
To date, 102 ventures have joined the D2XCEL pipeline, each completing a 6–8 month tailored scaling journey combining topic-specific mentoring, individual mentoring, and ecosystem-level support. This approach strengthens ventures’ investment readiness, market entry strategies, and cross-border partnerships, while connecting founders with investors, lead customers, and innovation ecosystems across Europe.
Beyond mentoring, D2XCEL ventures participated in 16 investment, pitching, and partnering events, with a total of 123 D2XCEL venture participations to date. A further nine events are scheduled by the end of April 2026.
Accelerating innovation in key market opportunities
From Cohort 1, 48 companies have been selected to accelerate innovation in pivotal sectors such as logistics, sustainable freight transportation, large-scale stationary energy storage, sustainable construction, and AI-powered digital services for smart cities.
The cohort has raised a total of €179.17 million, averaging €3.73 million per enterprise. Notably, 23 companies within the cohort feature women in executive roles, reflecting a progressive stance towards inclusive leadership. The total employee count of the 48 companies stands at 864, supported by 222 active investors.
Since joining D2XCEL, nine Cohort 1 companies have secured additional funding totaling €52.2 million, representing a 41.11% increase in funding and a median investment size of €2.44 million.
Sector-specific investment highlights
- Logistics: BuyCo latest round in March 2025 (amount undisclosed).
- Sustainable Freight Transportation: Syroco secured €7.5 million, Spark e-Fuels €2.3 million, and Naco Technologies €1.5 million.
- Large-scale Stationary Energy Storage: Electriq Global achieved €28 million, Fusebox Energy €3 million, and Geyser Batteries €2 million.
- Sustainable Construction: Recoma collected €8.1 million and Firemesh €0.26 million.
Looking ahead
D2XCEL project is an EU-funded initiative led by Tech Tour in collaboration with 12 other consortium partners.
Early signals from Cohort 2 already point to growing momentum, with participating ventures beginning to secure follow-on investments and strategic partnerships as they progress through the programme.
More insights available
For those eager to delve deeper into the results and methodologies of D2XCEL’s initiatives, the full Impact Data Report, Mentoring Services Impact, and Market Opportunities Roadmap Reports for Cohorts 1 and 2 are accessible below.
Details
- Publication date
- 26 February 2026
- Author
- European Innovation Council and SMEs Executive Agency