Belgium saw $1.1 billion in funding for tech companies over the last year, with the top funded business models being ERP ($215M), IT Operations ($173M), and Life Sciences Platforms and Tools ($127M). The report provides details on the 50 top funded business models by investment amount, including key funding rounds for companies in each model.

1. TRACXN TOP BUSINESS MODELS REPORT
August 03, 2021
BELGIUM TECH

2. Belgium Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
BelgiumBelgium Tech Funding -
Overview
3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Belgium Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Funding in last 1 year
3
ERP $215M
IT Operations $173M
Life Sciences Platforms and
Tools
$127M
Food Tech $74.0M
MarketingTech $24.9M
Y-o-Y Funding
Top Investors by Funding
Rounds
Seed
Stage
PMV
LRM
bnpparibasfortis.be
3
2
2
Early
Stage
LRM
PMV
SFPI
4
4
4
Late
Stage
SRIW
SFPI
Redpoint Ventures
2
2
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Odoo
(2005, Brussels)
$215M - Series
D
Lansweeper
(2008, Grembergen)
$159M - PE
Univercells
(2013, Gosselies)
$85.2M - Series
C
AgomAb Therapeutics
(2017, Ghent)
$74.0M - Series
B
Deliverect
(2018, Ghent)
$65.0M - Series
C
itsme
(2007, Brussels)
$29.3M - Series
B
Miracor Medical
(2008, Awans)
$28.7M - Series
E
Imcyse
(2010, Liege)
$25.8M - Series
B
Qover
(2016, Brussels)
$25.0M - Series
B
NeuVasQ
Biotechnologies
(2021, Gosselies)
$23.8M - Series
A
Promethera
(2009, Mont-saint-guibert)
$23.8M - Series
E
ExeVir Bio
(2020, Zwijnaarde)
$22.7M - Series
A
Brussels (29%)
Ghent (15%)
Grembergen (14%)
Gosselies (11%)
Zwijnaarde (5%)
Others (27%)

4. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Belgium Tech - Top Funded Business Models - last 1
year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲22 Life Sciences Research Services $109M 2 Univercells | $85.2M | Series C Link
2--
Software Development Services For Biopharma
Companies
$85.2M 1 Univercells | $85.2M | Series C Link
3▲15 Online Ordering Solutions $65.0M 1 Deliverect | $65.0M | Series C Link
4-- Customer Identity Verification $29.3M 1 itsme | $29.3M | Series B Link
5-- Heart Attack Treatment Devices $28.7M 1 Miracor Medi.. | $28.7M | Series E Link
6▼5 Drugs for Multiple Cancer Types $25.8M 1 Imcyse | $25.8M | Series B Link
7-- Diabetes Drugs $25.8M 1 Imcyse | $25.8M | Series B Link
8-- Neurological Disorder Drugs $23.8M 1 NeuVasQ Biot.. | $23.8M | Series A Link
9▲21 Hepatic Disorder Drugs $23.8M 1 Promethera | $23.8M | Series E Link
10▲5 COVID-19 Drugs $22.7M 1 ExeVir Bio | $22.7M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Belgium Tech - Top Funded Business Models - last 1
year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11-- Rare Neurological Disease Drugs $22.3M 1 Amyl Therape.. | $22.3M | Series A Link
12-- App Store Optimization $22.0M 1 AppTweak | $22.0M | Series B Link
13-- App Store Optimisation Platforms $22.0M 1 AppTweak | $22.0M | Series B Link
14-- Four Wheeler EV Motor Manufacturers $19.6M 1 Magnax | $19.6M | Series A Link
15-- Crop Biologicals $16.6M 1 Aphea.Bio | $16.6M | Series B Link
16-- Data Generation Screening $14.6M 1 reMYND | $14.6M | Series B Link
17-- VR for Patient Treatment $11.8M 1 Oncomfort | $11.8M | Series A Link
18-- Neuro Psychiatric Therapy Devices $11.8M 1 Oncomfort | $11.8M | Series A Link
19-- Clinical Trial Supply Management Solutions $11.8M 1 N-SIDE | $11.8M | Series B Link
20--
Diagnostics (by Technology) > Diagnostic
Software > Biophysical Markers > Pulse
$10.9M 1 FibriCheck | $10.9M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Belgium Tech - Top Funded Business Models - last 1
year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Arrhythmia Diagnostic Tests $10.9M 1 FibriCheck | $10.9M | Series B Link
22-- On-Eye Solutions $9.4M 1 Azalea Vision | $9.4M | Series A Link
23-- Cloud RAN $8.2M 1 Accelleran | $8.2M | Series B Link
24-- Hybrid Field Crop Seeds $7.1M 1 Protealis | $7.1M | Seed Link
25-- Cryptocurrency Market Makers $5.1M 1 Keyrock | $5.1M | Series A Link
26▲34 Microlearning Courses $4.9M 1 MobieTrain | $4.9M | Series A Link
27▲23 Remote Patient Monitoring Wearables $4.5M 1 Pulsify Medical | $4.5M | Series A Link
28▲23 Wearable Heart Monitoring devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
29▲23 Cardiac Health Monitoring Devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
30▲23 Ultrasound Imaging Devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Belgium Tech - Top Funded Business Models - last 1
year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▲23 Blood Pressure Monitoring Wearable Device $4.5M 1 Pulsify Medical | $4.5M | Series A Link
32-- Orthopedic Rehabilitation App $4.5M 1 moveUp | $4.5M | Series A Link
33-- Big Data Warehouse $4.3M 1 Vaultspeed | $4.3M | Series A Link
34-- Sensors for Industrial Process Monitoring $4.1M 1 Sensolus | $4.1M | Series A Link
35-- IoT Sensors $4.1M 1 Sensolus | $4.1M | Series A Link
36-- Network Routing Software $4.1M 1 Tessares | $4.1M | Series A Link
37-- Drugs For Livestock Diseases $4.0M 1 Animab | $4.0M | Seed Link
38-- Drugs for Sarcopenia $3.8M 1 Rejuvenate Bi.. | $3.8M | Series A Link
39▲20 White Label Robo Advisors $3.7M 1 InvestSuite | $3.7M | Series A Link
40--
Healthcare IT > Value Based Care > Remote
Monitoring > Hardware > Passively > Activity
based
$3.7M 1 Kaspard | $3.7M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Belgium Tech - Top Funded Business Models - last 1
year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Wearable Devices for Elderly Care $3.7M 1 Kaspard | $3.7M | Series A Link
42-- Non-wearable Emergency Response Devices $3.7M 1 Kaspard | $3.7M | Series A Link
43-- Emergency Response System $3.7M 1 Kaspard | $3.7M | Series A Link
44-- PERS Device $3.7M 1 Kaspard | $3.7M | Series A Link
45-- Microgrid Control Systems $3.3M 1 Enervalis | $3.3M | Series A Link
46-- EV Charging Station Management Software $3.3M 1 Enervalis | $3.3M | Series A Link
47-- Smart Kitchen Hardware $3.0M 1 mealhero | $3.0M | Angel Link
48-- Course Content Creation $2.5M 1 MySkillCamp | $2.5M | Series A Link
49-- Ecommerce Virtual Trials $2.4M 1 BRIKL | $2.4M | Seed Link
50-- Employee Engagement Platforms $2.4M 1 Ambassify | $2.4M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Life Sciences Research Services -
Belgium
01
9
Back to index
Life Sciences Platforms and Tools (Univercells)
(# Cos: 83 | $483M)
Research Services (Promethera)
(# Cos: 48 | $363M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$109M (▲738%)
2 (▼33.3%)
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
5
$363M
24
1
48
5
Promethera
(2009, Mont-saint-guib.., $131M)
Univercells
(2013, Gosselies, $146M)
Syndesi Therapeutics
(2018, Louvain-la-neuve, $21.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Univercells (2013, Gosselies)
$85.2M - Series C - Dec 2020
Promethera (2009,
Mont-saint-guibert)
$23.8M - Series E - Jul 2021

10. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Software Development Services For
Biopharma Companies - Belgium
02
10
Back to index
Biopharma Outsourcing (MaSTherCell)
(# Cos: 90 | $197M)
Software Development Services
(Univercells)
(# Cos: 1 | $146M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$85.2M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$146M
1
-
1
1
Univercells
(2013, Gosselies, $146M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Univercells (2013, Gosselies)
$85.2M - Series C - Dec 2020

11. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Online Ordering Solutions -
Belgium
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$65.0M (▲269%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$90.0M
1
-
2
1
Food Tech (mealhero)
(# Cos: 69 | $124M)
Technology Enablers (Beerhive)
(# Cos: 18 | $97.6M)
Restaurants (APICBASE)
(# Cos: 15 | $97.6M)
Online Ordering Solutions
(Deliverect)
(# Cos: 2 | $90.0M)
Deliverect
(2018, Ghent, $90.0M)
Flyx
(2019, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deliverect (2018, Ghent)
$65.0M - Series C - Apr 2021

12. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Customer Identity Verification -
Belgium
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$29.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$29.3M
1
-
2
1
Cybersecurity (intigriti)
(# Cos: 56 | $42.5M)
IAM (Scaled Access)
(# Cos: 19 | $32.8M)
Customer IAM (AGEify)
(# Cos: 4 | $29.3M)
Customer Identity
Verification (itsme)
(# Cos: 2 | $29.3M)
itsme
(2007, Brussels, $29.3M)
Trust1Team
(2014, Ghent)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
itsme (2007, Brussels)
$29.3M - Series B - Jul 2021

13. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Heart Attack Treatment Devices -
Belgium
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$28.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$117M
1
-
1
1
Cardiac and Vascular Disorders (FibriCheck)
(# Cos: 14 | $198M)
Medical Devices (Vidacare)
(# Cos: 11 | $182M)
Therapeutic Devices (Celyad)
(# Cos: 7 | $174M)
Heart Attack (Miracor Medical)
(# Cos: 1 | $117M)
Miracor Medical
(2008, Awans, $117M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Miracor Medical (2008, Awans)
$28.7M - Series E - Sep 2020

14. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Imcyse (2010, Liege)
$25.8M - Series B - Feb 2021
Drugs for Multiple Cancer Types -
Belgium
06
14
Back to index
Oncology (Biocartis)
(# Cos: 33 | $908M)
Drugs (eTheRNA)
(# Cos: 18 | $522M)
Diversified (iTeos Therapeutics)
(# Cos: 15 | $497M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$25.8M (▼84.2%)
1 (▼50%)
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$497M
12
3
15
6
iTeos Therapeutics
(2011, Gosselies, $204M)
eTheRNA
(2013, Niel, $65.0M)
Celyad
(2007, Mont-saint-guib.., $9.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Diabetes Drugs - Belgium
07
15
Back to index
Diabetes (Indigo)
(# Cos: 4 | $110M)
Drugs (Imcyse)
(# Cos: 2 | $57.3M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$25.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$57.3M
1
-
2
1
Imcyse
(2010, Liege, $57.3M)
Beta-Cell
(1998, Diepenbeek)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Imcyse (2010, Liege)
$25.8M - Series B - Feb 2021

16. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
NeuVasQ Biotechno.. (2021,
Gosselies)
$23.8M - Series A - Jun 2021
Neurological Disorder Drugs -
Belgium
08
16
Back to index
Neurology (Rewind Therapeutics)
(# Cos: 24 | $93.1M)
Drugs (Syndesi Therapeutics)
(# Cos: 8 | $67.9M)
Diversified (NeuVasQ
Biotechnologies)
(# Cos: 3 | $23.8M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$23.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$23.8M
2
-
3
1
NeuVasQ Biotechnologies
(2021, Gosselies, $23.8M)
MRM Health
(2020, Ghent)
Handl Therapeutics
(2019, Leuven)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Hepatic Disorder Drugs - Belgium
09
17
Back to index
Drugs (MRM Health)
(# Cos: 2 | $131M)
Hepatic disorders (Promethera)
(# Cos: 1 | $131M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$23.8M (▲185%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$131M
1
-
1
1
Promethera
(2009, Mont-saint-guib.., $131M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Promethera (2009,
Mont-saint-guibert)
$23.8M - Series E - Jul 2021

18. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
ExeVir Bio (2020, Zwijnaarde)
$22.7M - Series A - Mar 2021
COVID-19 Drugs - Belgium
10
18
Back to index
Infectious Diseases (Aelin Therapeutics)
(# Cos: 8 | $176M)
Drugs (Imcyse)
(# Cos: 5 | $176M)
COVID-19 (ExeVir Bio)
(# Cos: 1 | $49.6M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$22.7M (▼15.9%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$49.6M
1
-
1
1
ExeVir Bio
(2020, Zwijnaarde, $49.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Rare Neurological Disease Drugs -
Belgium
11
19
Back to index
CNS (Amyl Therapeutics)
(# Cos: 1 | $22.3M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$22.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$22.3M
1
-
1
1
Amyl Therapeutics
(2020, Liege, $22.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Amyl Therapeutics (2020, Liege)
$22.3M - Series A - Jun 2021

20. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
AppTweak (2012, Etterbeek)
$22.0M - Series B - Apr 2021
App Store Optimization - Belgium
12
20
Back to index
MarketingTech (Moovly)
(# Cos: 142 | $122M)
Mobile Marketing (Smstools)
(# Cos: 11 | $22.5M)
App Store Optimization (AppTweak)
(# Cos: 1 | $22.5M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$22.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$22.5M
1
-
1
1
AppTweak
(2012, Etterbeek, $22.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
App Store Optimisation Platforms -
Belgium
13
21
Back to index
Technology Enablers (Run Autopilot)
(# Cos: 2 | $22.5M)
App Store Optimization (AppTweak)
(# Cos: 1 | $22.5M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$22.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$22.5M
1
-
1
1
AppTweak
(2012, Etterbeek, $22.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AppTweak (2012, Etterbeek)
$22.0M - Series B - Apr 2021

22. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Magnax (2015, Kortrijk)
$19.6M - Series A - Jan 2021
Four Wheeler EV Motor
Manufacturers - Belgium
14
22
Back to index
Electric Vehicles (Cowboy)
(# Cos: 72 | $119M)
Components (Punch Powertrain)
(# Cos: 5 | $61.8M)
Four Wheelers (Magnax)
(# Cos: 1 | $19.6M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$19.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$19.6M
1
-
1
1
Magnax
(2015, Kortrijk, $19.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Crop Biologicals - Belgium
15
23
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$16.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$25.2M
1
-
1
1
Crop Tech (BIGH)
(# Cos: 58 | $139M)
Farm Inputs (Biobest)
(# Cos: 13 | $134M)
Biologicals (Biotalys)
(# Cos: 7 | $126M)
Diversified (Aphea.Bio)
(# Cos: 1 | $25.2M)
Aphea.Bio
(2017, Zwijnaarde, $25.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aphea.Bio (2017, Zwijnaarde)
$16.6M - Series B - Nov 2020

24. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Data Generation Screening -
Belgium
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$14.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$29.1M
1
-
1
1
Life Sciences Platforms and Tools
(Promethera)
(# Cos: 83 | $483M)
Research Assays (CellSine)
(# Cos: 5 | $29.1M)
Drug Discovery (Gentaur Prices)
(# Cos: 2 | $29.1M)
High Throughput Screening
(HTS) (reMYND)
(# Cos: 1 | $29.1M)
reMYND
(2002, Leuven, $29.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
reMYND (2002, Leuven)
$14.6M - Series B - Jan 2021

25. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
VR for Patient Treatment - Belgium
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$11.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$11.8M
2
-
5
1
Virtual Reality (Around Media Group)
(# Cos: 42 | $13.2M)
Applications (Raven-Bruges)
(# Cos: 30 | $11.8M)
Healthcare & Fitness (VR Medics)
(# Cos: 5 | $11.8M)
Patient Treatment (Oncomfort)
(# Cos: 5 | $11.8M)
Oncomfort
(2017, Wavre, $11.8M)
VR Medics
(2019, Houthalen)
Het Vliegend Bed
(2018, Temse)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oncomfort (2017, Wavre)
$11.8M - Series A - Sep 2020

26. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Neuro Psychiatric Therapy Devices
- Belgium
18
26
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$11.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$11.8M
2
-
2
1
Neurology (Syndesi Therapeutics)
(# Cos: 24 | $93.1M)
Medical Devices (Epihunter)
(# Cos: 13 | $22.0M)
Therapeutic Devices (Synergia
Medical)
(# Cos: 9 | $22.0M)
Psychiatric (Oncomfort)
(# Cos: 2 | $11.8M)
Oncomfort
(2017, Wavre, $11.8M)
NeuroTECH
(1994, Louvain-la-neuve)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oncomfort (2017, Wavre)
$11.8M - Series A - Sep 2020

27. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Clinical Trial Supply Management
Solutions - Belgium
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$11.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$11.8M
1
-
1
1
Life Sciences Tech (ONTOFORCE)
(# Cos: 51 | $73.0M)
Research & Development (Ovizio)
(# Cos: 47 | $70.0M)
Clinical Trials (MDCPartners)
(# Cos: 14 | $12.9M)
Study Implementation (Healthentia)
(# Cos: 8 | $12.9M)
Clinical Trial Supply
Management (N-SIDE)
(# Cos: 1 | $11.8M)
N-SIDE
(2000, Louvain-la-neuve, $11.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
N-SIDE (2000, Louvain-la-neuve)
$11.8M - Series B - Mar 2021

28. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Diagnostics (by Technology) > Diagnostic Software >
Biophysical Markers > Pulse - Belgium
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$10.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$12.6M
1
-
1
0
Diagnostics (by Technology) (Biocartis)
(# Cos: 45 | $589M)
Diagnostic Software (Cartagenia)
(# Cos: 7 | $23.2M)
Biophysical Markers (Ectosense)
(# Cos: 2 | $14.4M)
Pulse (FibriCheck)
(# Cos: 1 | $12.6M)
FibriCheck
(2016, Hasselt, $12.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FibriCheck (2016, Hasselt)
$10.9M - Series B - Feb 2021

29. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
FibriCheck (2016, Hasselt)
$10.9M - Series B - Feb 2021
Arrhythmia Diagnostic Tests -
Belgium
21
29
Back to index
Cardiac and Vascular Disorders (Celyad)
(# Cos: 14 | $198M)
In-Vitro Diagnostics (Abscint)
(# Cos: 2 | $12.6M)
Arrhythmia (FibriCheck)
(# Cos: 1 | $12.6M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$10.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$12.6M
1
-
1
0
FibriCheck
(2016, Hasselt, $12.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
On-Eye Solutions - Belgium
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$9.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$11.0M
2
-
3
0
Ophthalmology (Oxurion)
(# Cos: 10 | $97.2M)
Medical Devices (PhysIOL)
(# Cos: 8 | $71.8M)
Therapy (iSTAR Medical)
(# Cos: 8 | $71.8M)
Refractive Errors (Eyeco)
(# Cos: 3 | $11.0M)
On-Eye Solutions (Azalea Vision)
(# Cos: 3 | $11.0M)
Azalea Vision
(2018, Zwijnaarde, $9.4M)
Eyeco
(2015, Zwijnaarde, $1.6M)
Morrow Eyewear
(2016, Ghent)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Azalea Vision (2018, Zwijnaarde)
$9.4M - Series A - Jul 2021

31. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cloud RAN - Belgium
23
31
Back to index
Telecom Infrastructure Tech (Newtec)
(# Cos: 10 | $32.4M)
Cloud RAN (C-RAN) (Accelleran)
(# Cos: 1 | $11.6M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$8.2M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$11.6M
1
-
1
1
Accelleran
(2013, Antwerp, $11.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Accelleran (2013, Antwerp)
$8.2M - Series B - May 2021

32. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Hybrid Field Crop Seeds - Belgium
24
32
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$7.1M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.1M
1
-
1
0
Crop Tech (Biobest)
(# Cos: 58 | $139M)
Farm Inputs (Biotalys)
(# Cos: 13 | $134M)
Seeds (Storm Seeds)
(# Cos: 2 | $7.1M)
Hybrid (Protealis)
(# Cos: 1 | $7.1M)
Protealis
(2021, Ghent, $7.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Protealis (2021, Ghent)
$7.1M - Seed - Apr 2021

33. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Market Makers -
Belgium
25
33
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$5.1M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
1
-
1
1
Cryptocurrencies (NGRAVE)
(# Cos: 44 | $7.7M)
Financial Services (BlackTurtle)
(# Cos: 30 | $7.4M)
Investment Industry (bit4you)
(# Cos: 23 | $7.4M)
Crypto Market Makers
(Keyrock)
(# Cos: 1 | $7.4M)
Keyrock
(2017, Brussels, $7.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Keyrock (2017, Brussels)
$5.1M - Series A - Oct 2020

34. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
MobieTrain (2015, Genk)
$4.9M - Series A - May 2021
Microlearning Courses - Belgium
26
34
Back to index
HRTech (MySkillCamp)
(# Cos: 197 | $20.0M)
LMS (intuo.io)
(# Cos: 21 | $13.8M)
Microlearning (MobieTrain)
(# Cos: 1 | $8.0M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.9M (▲140%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$8.0M
1
-
1
1
MobieTrain
(2015, Genk, $8.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Remote Patient Monitoring
Wearables - Belgium
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.5M (▲57.5%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
2
-
2
1
Healthcare IT (icometrix)
(# Cos: 143 | $82.6M)
Value Based Care (Cubigo)
(# Cos: 38 | $26.8M)
Remote Monitoring (LindaCare)
(# Cos: 16 | $22.3M)
Hardware (Kaspard)
(# Cos: 9 | $12.2M)
Wearables (Pulsify Medical)
(# Cos: 2 | $7.4M)
Pulsify Medical
(2019, Leuven, $7.4M)
Byteflies
(2015, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pulsify Medical (2019, Leuven)
$4.5M - Series A - May 2021

36. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Pulsify Medical (2019, Leuven)
$4.5M - Series A - May 2021
Wearable Heart Monitoring devices
- Belgium
28
36
Back to index
Wearable Technology (Epihunter)
(# Cos: 30 | $128M)
Health and Wellness Devices (Nyxoah)
(# Cos: 15 | $121M)
Cardiac (Pulsify Medical)
(# Cos: 2 | $25.2M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.5M (▲57.5%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$25.2M
2
-
2
2
Pulsify Medical
(2019, Leuven, $7.4M)
Noho
(2015, Brussels, $17.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cardiac Health Monitoring Devices
- Belgium
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.5M (▲57.5%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
1
-
2
1
Cardiac and Vascular Disorders (FibriCheck)
(# Cos: 14 | $198M)
Medical Devices (Celyad)
(# Cos: 11 | $182M)
Monitoring Devices (Byteflies)
(# Cos: 3 | $7.4M)
Cardiac Health (Pulsify
Medical)
(# Cos: 2 | $7.4M)
Pulsify Medical
(2019, Leuven, $7.4M)
HeartKinetics
(2017, Anderlecht)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pulsify Medical (2019, Leuven)
$4.5M - Series A - May 2021

38. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Ultrasound Imaging Devices -
Belgium
30
38
Back to index
Imaging Diagnostics (IBA)
(# Cos: 4 | $34.7M)
Ultrasound (Pulsify Medical)
(# Cos: 1 | $7.4M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.5M (▲57.5%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
1
-
1
1
Pulsify Medical
(2019, Leuven, $7.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pulsify Medical (2019, Leuven)
$4.5M - Series A - May 2021

39. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Blood Pressure Monitoring
Wearable Device - Belgium
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.5M (▲57.5%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
1
-
1
1
Disease Self Management (Indigo)
(# Cos: 42 | $92.1M)
Cardiac and Vascular Disorders
(FibriCheck)
(# Cos: 3 | $25.2M)
Monitoring (Noho)
(# Cos: 3 | $25.2M)
Wearable (Pulsify Medical)
(# Cos: 1 | $7.4M)
Pulsify Medical
(2019, Leuven, $7.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pulsify Medical (2019, Leuven)
$4.5M - Series A - May 2021

40. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Orthopedic Rehabilitation App -
Belgium
32
40
Back to index
Disease Self Management (Indigo)
(# Cos: 42 | $92.1M)
App (moveUp)
(# Cos: 1 | $4.5M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.5M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.5M
1
-
1
0
moveUp
(2015, Brussels, $4.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
moveUp (2015, Brussels)
$4.5M - Series A - May 2021

41. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Big Data Warehouse - Belgium
33
41
Back to index
Big Data Infrastructure (BigBoards)
(# Cos: 2 | $4.3M)
Big Data Warehouse (Vaultspeed)
(# Cos: 1 | $4.3M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.3M
1
-
1
0
Vaultspeed
(2018, Leuven, $4.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Vaultspeed (2018, Leuven)
$4.3M - Series A - Mar 2021

42. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Sensolus (2013, Ghent)
$4.1M - Series A - Oct 2020
Sensors for Industrial Process
Monitoring - Belgium
34
42
Back to index
Sensors (CMOSIS)
(# Cos: 36 | $28.1M)
Industry Applications (FillFactory)
(# Cos: 12 | $18.3M)
Industrial Process Monitoring
(Sensolus)
(# Cos: 4 | $7.4M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.1M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
3
-
4
1
Sensolus
(2013, Ghent, $7.4M)
Quad Industries
(1998, Sint-niklaas)
Zensor
(2013, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Sensolus (2013, Ghent)
$4.1M - Series A - Oct 2020
IoT Sensors - Belgium
35
43
Back to index
Internet of Things Infrastructure (Tangent
Works)
(# Cos: 33 | $58.2M)
IoT Devices (Accelleran)
(# Cos: 4 | $18.9M)
Sensors (Sensolus)
(# Cos: 2 | $7.4M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.1M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.4M
1
-
2
1
Sensolus
(2013, Ghent, $7.4M)
Showit.io
(2017, Ardooie)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Network Routing Software -
Belgium
36
44
Back to index
Enterprise Networking (Inmanta)
(# Cos: 7 | $8.5M)
Routing Software (Tessares)
(# Cos: 1 | $7.8M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.1M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.8M
1
-
1
1
Tessares
(2015, Louvain-la-neuve, $7.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tessares (2015, Louvain-la-neuve)
$4.1M - Series A - Mar 2021

45. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Animab (2020, Ghent)
$4.0M - Seed - Oct 2020
Drugs For Livestock Diseases -
Belgium
37
45
Back to index
Veterinary HealthTech (Volition)
(# Cos: 6 | $4.0M)
Biopharmaceuticals (Global Stem cell
Technology)
(# Cos: 3 | $4.0M)
Livestock (Animab)
(# Cos: 1 | $4.0M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.0M
1
-
1
0
Animab
(2020, Ghent, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Rejuvenate Biomed (2017, Hasselt)
$3.8M - Series A - Mar 2021
Drugs for Sarcopenia - Belgium
38
46
Back to index
Dermatology (Devroye Instruments)
(# Cos: 6 | $3.8M)
Drugs (Auriga international)
(# Cos: 2 | $3.8M)
Sarcopenia (Rejuvenate Biomed)
(# Cos: 1 | $3.8M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$3.8M
1
-
1
0
Rejuvenate Biomed
(2017, Hasselt, $3.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
InvestSuite (2018, Leuven)
$3.7M - Series A - Dec 2020
White Label Robo Advisors -
Belgium
39
47
Back to index
Investment Tech (Tricount)
(# Cos: 66 | $15.3M)
Wealth Management IT (Gambit Financial
Solutions)
(# Cos: 5 | $12.7M)
White Label Robo Advisors
(InvestSuite)
(# Cos: 1 | $11.0M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.7M (▲67%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$11.0M
1
-
1
1
InvestSuite
(2018, Leuven, $11.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Healthcare IT > Value Based Care > Remote
Monitoring > Hardware > Passively > Activity based -
Belgium
40
48
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.8M
2
-
3
1
Healthcare IT (icometrix)
(# Cos: 143 | $82.6M)
Value Based Care (Cubigo)
(# Cos: 38 | $26.8M)
Remote Monitoring (LindaCare)
(# Cos: 16 | $22.3M)
Hardware (Pulsify Medical)
(# Cos: 9 | $12.2M)
Passively (Sunrise)
(# Cos: 4 | $4.8M)
Activity based (Kaspard)
(# Cos: 3 | $4.8M)
Kaspard
(2017, Brussels, $4.8M)
Sunrise
(2019, Namur)
FamilyEye
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021

49. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021
Wearable Devices for Elderly Care -
Belgium
41
49
Back to index
Wearable Technology (Epihunter)
(# Cos: 30 | $128M)
Health and Wellness Devices (Nyxoah)
(# Cos: 15 | $121M)
Elderly Care (BlooLoc)
(# Cos: 4 | $7.0M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.0M
2
-
4
1
BlooLoc
(2014, Hasselt, $2.2M)
Kaspard
(2017, Brussels, $4.8M)
Senso2Me
(2015, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Non-wearable Emergency
Response Devices - Belgium
42
50
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.8M
1
-
3
1
Assistive Tech (Sensotec)
(# Cos: 17 | $7.0M)
Assistive Hardware (BlooLoc)
(# Cos: 9 | $7.0M)
PERS (Senso2Me)
(# Cos: 5 | $4.8M)
Non-wearable (Kaspard)
(# Cos: 3 | $4.8M)
Kaspard
(2017, Brussels, $4.8M)
Jane
(2019, Brussels)
Nobi
(2018, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021

51. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Emergency Response System -
Belgium
43
51
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Medical Devices (Zembro)
(# Cos: 2 | $4.8M)
Emergency Response System (Kaspard)
(# Cos: 1 | $4.8M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.8M
1
-
1
1
Kaspard
(2017, Brussels, $4.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021

52. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
PERS Device - Belgium
44
52
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Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.0M
3
-
6
1
Disease Self Management (Indigo)
(# Cos: 42 | $92.1M)
Geriatrics (Senso2Me)
(# Cos: 9 | $7.0M)
PERS (Kaspard)
(# Cos: 6 | $7.0M)
Device (BlooLoc)
(# Cos: 6 | $7.0M)
BlooLoc
(2014, Hasselt, $2.2M)
Kaspard
(2017, Brussels, $4.8M)
Senso2Me
(2015, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021

53. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Enervalis (2013, Houthalen)
$3.3M - Series A - Aug 2020
Microgrid Control Systems -
Belgium
45
53
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Smart Grid (REstore)
(# Cos: 21 | $24.5M)
Distributed Energy Resources (nanoGrid)
(# Cos: 2 | $7.8M)
Control System (Enervalis)
(# Cos: 1 | $7.8M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.8M
1
-
1
1
Enervalis
(2013, Houthalen, $7.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

54. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
EV Charging Station Management
Software - Belgium
46
54
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Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$7.8M
2
-
4
1
Electric Vehicles (Punch Powertrain)
(# Cos: 72 | $119M)
Charging Solutions (PlugInvest)
(# Cos: 16 | $7.8M)
Station Network (Blue Corner)
(# Cos: 11 | $7.8M)
Charging (eCloud Company)
(# Cos: 11 | $7.8M)
Station Management IT (Enervalis)
(# Cos: 4 | $7.8M)
Enervalis
(2013, Houthalen, $7.8M)
MobilityPlus
(2016, De Pinte)
UZE.ENERGY
(2020, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Enervalis (2013, Houthalen)
$3.3M - Series A - Aug 2020

55. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Smart Kitchen Hardware - Belgium
47
55
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Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$3.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.1M
1
-
1
0
Food Tech (Deliverect)
(# Cos: 69 | $124M)
Tech Hardware (Wakati)
(# Cos: 5 | $4.6M)
Food Preparation (Perfect Moose)
(# Cos: 2 | $4.1M)
Smart Kitchen (mealhero)
(# Cos: 1 | $4.1M)
mealhero
(2017, Ghent, $4.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
mealhero (2017, Ghent)
$3.0M - Angel - Nov 2020

56. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
MySkillCamp (2016, Tournai)
$2.5M - Series A - Sep 2020
Course Content Creation - Belgium
48
56
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HRTech (Accent Jobs)
(# Cos: 197 | $20.0M)
LMS (intuo.io)
(# Cos: 21 | $13.8M)
Course Content Creation
(MySkillCamp)
(# Cos: 3 | $3.6M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$2.5M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$3.6M
2
-
3
1
MySkillCamp
(2016, Tournai, $3.6M)
CommArt
(2007, Diepenbeek)
Onyx Online Learning
(2010, Lokeren)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Ecommerce Virtual Trials - Belgium
49
57
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Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$2.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$2.4M
1
-
1
0
E-Commerce Enablers (Selligent)
(# Cos: 30 | $2.8M)
Customer Experience Management
(Collectique)
(# Cos: 3 | $2.4M)
Virtual Trial (Decolabs)
(# Cos: 3 | $2.4M)
Multi Category (BRIKL)
(# Cos: 1 | $2.4M)
BRIKL
(2016, Leuven, $2.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BRIKL (2016, Leuven)
$2.4M - Seed - Nov 2020

58. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Ambassify (2010, Antwerp)
$2.4M - Seed - Mar 2021
Employee Engagement Platforms -
Belgium
50
58
Back to index
HRTech (intuo.io)
(# Cos: 197 | $20.0M)
Employee Engagement (Meet Roger)
(# Cos: 18 | $2.8M)
Suite (Ambassify)
(# Cos: 6 | $2.8M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$2.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$2.8M
3
-
6
1
Ambassify
(2010, Antwerp, $2.8M)
Sparble
(2016, Gentbrugge)
Human Reef
(2015, Ghent)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

59. Belgium Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
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Belgium Tech - Top Business Models Report
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