In June 2023 we announced that Bifrost Communication had been selected to receive funding by the European Innovation Council (EIC) through the Accelerator Program. The Council screened almost 500 companies and only 32 companies qualified for the funding, and Bifrost Communications was one of them. The funding in this first phase has been received in the form of a Grant.
The program contains a potential direct equity investment by the EIC Fund, which requires matching 1 to 1 by new external investors.
We are very proud to announce that we in May 2024 closed a first tranche investment round and raised a substantial amount with participation of the EIC Fund, 2 new external investors, and existing owners.