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Sunrise and the EIC Accelerator: A Sleep Apnoea Cure That Went Quiet

September 29, 20261,521 words8 min

Sunrise is one of Belgium's better-funded medtech companies, and on its own terms a success. Its three-gram chin sensor diagnoses sleep apnoea at home, it holds two clearances from the US Food and Drug Administration, and in September 2025 it raised $29 million to expand a sleep clinic that operates across the United States.

None of that is what the European Innovation Council paid for. In 2021 the EIC awarded Sunrise €1,939,875 to develop a treatment: a light, connected wearable that would keep the airway open with personalised muscle stimulation, an alternative to the pressure masks that many patients refuse to wear. The project closed at the end of 2024. The public record of that treatment device since then is close to empty.

€1.94MEIC grant for the treatment project, 70% of €2.77M
$29MRaised in September 2025, led by Eurazeo
2FDA clearances for the diagnostic sensor, 2023 and 2026
0Public launches, trials or approvals of the treatment device

Company file

Legal entity
Sunrise SA, BE 0632.607.373
Incorporated
June 2015, Namur
Chief executive
Laurent Martinot, co-founder
Products
Chin-worn home sleep test; Dreem Health telemedicine clinic (US)
Named investors
Eurazeo, Amazon Alexa Fund, Kurma Partners, Vives, Seventure and Walloon funds
EIC project
SUNRISE Tx, 1 Jul 2022 to 31 Dec 2024, closed
Earlier EU grant
Sensa, Horizon 2020 SME Instrument, 2018, €50,000
Staff (2025 accounts)
15.9 full-time equivalents in the Belgian company

What Sunrise Does Today

Sunrise sells sleep diagnosis in two layers. The first is the device: a small sensor stuck to the chin overnight that records the movements of the lower jaw, which the company's algorithms translate into breathing and sleep events. The second is care. In February 2024 Sunrise announced the acquisition of Dreem Health, a California sleep telemedicine clinic with insurance agreements including Aetna and UnitedHealthcare. Chief executive Laurent Martinot framed it as "moving past diagnosis, to reshape the entire patient experience".

The United States is now the centre of gravity. The September 2025 round was raised to expand Dreem Health, which MedCity News reported operates in 49 states, and in May 2026 the American Academy of Sleep Medicine reported FDA clearance for Sunrise Air, a rechargeable version that adds airflow, oxygen and snoring sensors to the jaw-movement signal. In Europe, trials are comparing the sensor with existing NHS diagnostic pathways, according to ClinicalTrials.gov.

The Technology: Reading Sleep From the Jaw

Obstructive sleep apnoea happens when the upper airway collapses during sleep, cutting off breathing until the brain briefly wakes the sleeper. The gold-standard test, polysomnography, means a night in a sleep laboratory wired to a dozen sensors. Sunrise's premise, traced to sleep specialist Jean-Benoît Martinot, is that the effort to breathe shows up in small movements of the jaw, so a single sensor on the chin can stand in for much of that equipment. Its first FDA authorisation came through the De Novo route, the pathway for devices with no existing equivalent.

The treatment the EIC funded would use the same insight in reverse. Instead of recording the muscles of the upper airway, the SUNRISE Tx wearable was to stimulate them, keeping the airway open without the nasal mask of continuous positive airway pressure (CPAP) therapy. CORDIS quotes the problem it targeted: an "80% treatment gap" among sufferers who never get treated, and the at least 35% of diagnosed patients who stop wearing the mask.

"Ensuring everyone has access to sleep medicine means moving past diagnosis, to reshape the entire patient experience."

Laurent Martinot, chief executive, Sunrise, to Sleep Review, February 2024

What the EIC Project Promised, and What CORDIS Shows

The project ran for 30 months, from 1 July 2022 to 31 December 2024, under the 2021 Open call. Its closing report on CORDIS says the team focused on "refining the design and enhancing patient comfort" and that clinical validation demonstrated "strong clinical value". It gives no number of patients, no study name, no prototype count and no regulatory step. A search of public trial registries turns up Sunrise studies of the diagnostic sensor, not of a treatment.

  1. A wearable apnoea treatment, designed and refinedReportedCORDIS reports design iterations and comfort work; no public image, specification or name of a finished device.
  2. Clinical validationNot public"Strong clinical value" is claimed without data; no treatment trial appears on ClinicalTrials.gov.
  3. A route to patients (CE mark or FDA)Not seenBoth FDA clearances and the CE mark concern the diagnostic sensor, not a treatment.
  4. A company able to fund the next stageDeliveredEquity of €40.7M at the end of 2025, after the $29M round.

The record does not show whether the treatment works. It shows that Sunrise's public story since 2021 has been built entirely on the product it already had, and that the EU's own record of what €1.94 million produced is three sentences of general description.

What Sunrise Has Achieved Since the Award

On the business it chose to pursue, the record is strong. Sunrise has taken a diagnostic invented in Belgium through two US authorisations, bought its own route to American patients and insurers, and raised capital from one of Europe's largest investment firms. The filed accounts show the commercial effect: gross margin, the closest public measure of sales in accounts that do not disclose turnover, went from negative in 2022 to €3.07 million in 2025.

The Money

The Belgian company's accounts, reported consistently by Companyweb and Staatsbladmonitor, show a loss-making but well-capitalised business. It lost €9.43 million over 2022 to 2025. Equity, meanwhile, went from €1.77 million to €40.68 million, with the Official Gazette recording capital changes in July 2024, August 2025 and November 2025.

What the accounts cover

These figures are for Sunrise SA in Namur only. Dreem Health and the US operations sit in separate entities whose accounts are not public, so the group's real revenue and headcount are larger than the Belgian filings show. MedCity News reported total funding of $58 million by September 2025.

Why Europe Should Care

Sleep apnoea is a large European health problem that the Sensa proposal put at about 49 million sufferers in the EU, most of them undiagnosed. A cheap, comfortable home test and a mask-free treatment would both address it, which is why EU programmes funded Sunrise twice: €50,000 in 2018 for diagnosis and €1.94 million in 2022 for treatment.

What Europe got in return is a familiar pattern. The Belgian company kept its headquarters in Namur, but its growth market, its clinic and its newest regulatory milestone are American. Mario Draghi's 2024 competitiveness report counted 40 of 147 European unicorns founded between 2008 and 2021 that had moved their headquarters abroad, mostly to the US, as Tech.eu summarised it. Sunrise has not moved, but its patients increasingly have.

What the EIC funded

A connected, affordable wearable that treats sleep apnoea without a mask, closing the gap for the patients CPAP fails.

What the record shows

A thriving diagnostics and US telemedicine business, two FDA clearances for the test, and no public trace of the treatment device after the project closed.

The Verdict

A company that succeeded at something else

Sunrise is not a failed EIC beneficiary. It is a growing, well-funded company that used public money for a project it has not yet shown to anyone. The EIC's closing record for SUNRISE Tx is too thin to judge, and that is the problem: a €1.94 million grant for a medical treatment should leave behind more public evidence than a paragraph about design iterations. Sunrise has €40.7 million of equity and has not published a trial, an approval or a launch date for the treatment.

Sunrise has not been asked for comment for this article. It is based entirely on public records, company statements, regulatory databases and EU project data, linked throughout.

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Eureka Network

Eureka Network offers multiple international collaborative R&D programs including Network Projects, Clusters, Eurostars, Globalstars, and Innowwide, with funding ranging from €50K to €6.75M per project depending on the specific program. The network focuses on market-driven innovation and deep-tech development across diverse technology sectors including ICT/Digital, Industrial/Manufacturing, Bio/Medical Technologies, Energy/Environment, Quantum, AI, and Circular Economy. Applicants include SMEs, large enterprises, research organizations, universities, and startups, with Eurostars specifically targeting R&D-performing SMEs.

EIC Transition

EIC Transition provides up to €2.5 million in funding to bridge the 'valley of death' between laboratory research and market deployment, focusing on technology maturation and validation. The program supports single legal entities or small consortia of 2-5 partners including SMEs, start-ups, spin-offs, and research organizations. Technology areas include Health/Medical Technologies, Green/Environmental Innovation, Digital/Microelectronics, Quantum Technologies, and AI/Robotics.

EIC STEP Scale-Up

EIC STEP Scale-Up offers substantial equity investments of €10-30 million for established deep-tech companies ready for hyper-growth and large-scale expansion. The program targets SMEs or small mid-caps with up to 499 employees who have secured pre-commitment from qualified investors. Focus areas include Digital & Deep Tech (Semiconductors, AI, Quantum), Clean Technologies for Net-Zero goals, and Biotechnologies.

EIC Pre-Accelerator

EIC Pre-Accelerator is a pilot program providing €300,000-€500,000 in funding for early-stage deep-tech development and preparation for the EIC Accelerator program. The initiative is exclusively available to single SMEs or small mid-caps from 'Widening countries' to support regional innovation development. The program covers deep-tech innovations across physical, biological, and digital domains.

EIC Advanced Innovation Challenges

EIC Advanced Innovation Challenges is a new pilot program offering €300,000 (Stage 1) and up to €2.5 million (Stage 2) for breakthrough deep-tech solutions through ARPA-style staged funding with demand-side integration. The program targets single entities or small consortia (2-3 partners) including SMEs, start-ups, and research organizations. Focus areas include Physical AI for autonomous robotics and New Approach Methodologies (NAMs) for animal-free biomedical testing, requiring TRL 4 entry with end-user commitment.

EIC Pathfinder

EIC Pathfinder offers up to €3 million for Open calls and up to €4 million for Challenge-based calls to support early-stage research and development with proof-of-principle validation. The program requires research consortia with a minimum of 3 partners from 3 different countries, including universities, research organizations, and SMEs. Technology focus areas include Health/Medical, Quantum Technologies, AI, Environmental/Energy, and Advanced Materials.

EIC Accelerator

EIC Accelerator provides flexible funding options including blended finance (€2.5M grant + €0.5M-€10M equity), grant-only (up to €2.5M), or equity-only arrangements for scale-up and market deployment of breakthrough innovations. The program targets SMEs, start-ups, and small mid-caps with up to 499 employees, with MedTech/Healthcare representing 35% of funded projects. Other technology areas include Biopharma, Energy, AI, Quantum, Aerospace, Advanced Materials, and Semiconductors.

Innovation Partnership

Innovation Partnership facilitates collaborative innovation between public and private sectors with typical funding of €1-5 million per project. The program supports cross-sectoral strategic technologies through public-private partnerships and consortia. Projects focus on addressing societal challenges through collaborative innovation approaches.

Innovation Fund

The EU Innovation Fund provides substantial funding of €7.5 million to €300 million for large-scale demonstration of innovative low-carbon technologies. The program targets clean energy, carbon capture, renewable energy, and energy storage technologies to accelerate the transition to a low-carbon economy. Applicants include large companies, consortia, and public entities capable of implementing large-scale demonstration projects.

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Innovate UK offers various programs with funding ranging from £25K to £10M depending on the specific initiative, supporting business-led innovation, collaborative R&D, and knowledge transfer. The organization funds projects across all sectors with particular focus on emerging technologies and supports UK-based businesses, research organizations, and universities. Programs are designed to drive economic growth through innovation and technology commercialization.

Industrial Partnership

Industrial Partnership provides €2-10 million in funding for industrial research and innovation partnerships focusing on manufacturing, industrial technologies, and digital transformation. The program supports industrial consortia and research organizations in developing collaborative solutions for industrial challenges. Projects aim to strengthen European industrial competitiveness through strategic partnerships.

Eurostars

Eurostars is a joint EU-Eureka program offering €50K-€500K for international R&D collaboration specifically led by SMEs. The program takes a bottom-up approach, accepting projects from all technology fields without predefined thematic restrictions. R&D-performing SMEs must lead the consortium and demonstrate significant R&D activities.

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The LIFE Programme provides €1-10 million in funding for environmental protection, climate action, and nature conservation projects across the European Union. The program supports environmental technologies, climate adaptation strategies, and biodiversity conservation initiatives. Applicants include public authorities, private companies, NGOs, and research institutions working on environmental and climate challenges.

Neotec

Neotec is a Spanish program offering €250K-€1M in funding for technology-based business creation and development, supporting the growth of innovative Spanish SMEs and start-ups. The program covers all technology sectors and aims to strengthen Spain's technology ecosystem. Funding is specifically targeted at Spanish technology-based SMEs and start-ups to enhance their competitiveness and market presence.

Thematic Priorities

EU Thematic Priorities encompass various programs aligned with EU strategic priorities including green transition, digital transformation, health, and security initiatives. Funding amounts vary based on the specific program and call requirements, with projects designed to address key European challenges. Applicant eligibility varies by specific program and call, with different requirements for different thematic areas.
EIC AcceleratorBeneficiary Deep Dive#Sunrise#SUNRISE Tx#sleep apnoea#home sleep test#Dreem Health#medtech#CORDIS#blended finance
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