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1. TRACXN MONTHLY REPORT
APRIL 2021
BELGIUM TECH

2. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Belgium Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 7
New Analyst Picks 8
Acquisitions 10
Recent News 11

3. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Belgium Tech Snapshot – April 2021
Belgium Tech: Snapshot – April 2021
Note : "Investors" refers to "Institutional Investors" only
3
$128M
4
Overall Geo Stats
7
2
20
14
5
Funding Rounds $ Invested Analyst Picks
Qover Upgraded to
SOONICORN
New Investors
Cathay Innovation
OMERS
Series A+ rounds Active Investors IPOs Acquisitions
Fasttel#@
XPOfleet#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Ghent
(2 Rounds, $72.1M)
Brussels
(1 Rounds, $25M)
Etterbeek
(1 Rounds, $22M)
Leuven
(1 Rounds, $8.3M)
$65M - Series C
Deliverect (2018, Ghent, $90M)
$25M - Series B
Qover (2016, Brussels, $43M)
$22M - Series B
AppTweak (2012, Etterbeek, $22.5M)
$8.3M - Series A
Rein4ced (2015, Leuven, $8.3M)
DST Global
(1 Investments)
Redpoint Ventures
(1 Investments)
Anthemis Group
(1 Investments)
Prime Ventures
(1 Investments)
Food Tech
Deliverect
Insurance IT
Qover
Mobile App Distribution
AppTweak
MarketingTech
Market Size
Companies Covered 3,577
Funded Companies 1,159
Total Funding $4.8B
Funding in last 12 months $835M
Top Exits
IPOs 32
Acquisitions 213
Company Stage
Unicorns 1
Soonicorns 17
Minicorns 83
Editor Picks 369
Series A+ 250
Series C+ 58
Acqui-Hires 1
Deadpooled 236
Top Cities
Brussels (154 Rounds, $1.1B)
Ghent (80 Rounds, $533M)
Top Investors
PMV (53 Investments)
SRIW (42 Investments)

4. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Belgium Tech as of April 2021
Belgium Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (April 2021)*
Deliverect
(2018, Ghent, $90.0M)
$65.0M - Series C DST Global
Qover
(2016, Brussels, $43.0M)
$25.0M - Series B Prime Ventures
AppTweak
(2012, Etterbeek, $22.5M)
$22.0M - Series B Rossel Group
Rein4ced
(2015, Leuven, $8.3M)
$8.3M - Series A Capricorn Partners
Protealis
(2021, Ghent, $7.1M)
$7.1M - Seed Agri Investment Fund
*Shows only the lead Investors

5. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Belgium Tech in April 2021
Belgium Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$65.0M - Series C
Deliverect (2018, Ghent, $90.0M)
Connects online food delivery services with POS
DST Global, Redpoint Ventures, Newion Investments,
SmartFin, OMERS
EARLY STAGE
$8.3M - Series A
Rein4ced (2015, Leuven, $8.3M)
Manufacturer of diversified carbon fiber materials
Capricorn Partners, Quest for Growth, Innovation
Fund, Finindus
EARLY STAGE
$22.0M - Series B
AppTweak (2012, Etterbeek, $22.5M)
App Store Optimization platform
Rossel Group
EARLY STAGE
$25.0M - Series B
Qover (2016, Brussels, $43.0M)
Software suite for the insurance industry
Prime Ventures, Cathay Innovation, Anthemis Group,
Alven
SEED STAGE
$7.1M - Seed
Protealis (2021, Ghent, $7.1M)
Provider of hybrid seeds for farmers
V-Bio Ventures, VIB, Globachem, PMV, Estari, and 1
more

6. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Belgium Tech in April 2021
Belgium Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Cathay Innovation
70 portfolio companies | Early-stage tech-focused VC firm investing in
geographies such as North America, Europe and China
Qover
Software suite for the insurance industry
$25.00M Series B
OMERS
7 portfolio companies | Pension fund for the employees of Canada
Deliverect
Connects online food delivery services with POS
$65.00M Series C
DST Global
159 portfolio companies | Tech focused early stage VC firm investing in the US,
Europe & Asia
Deliverect
Connects online food delivery services with POS
$65.00M Series C
Redpoint Ventures
521 portfolio companies | US focused seed, early and growth stage VC firm
Deliverect
Connects online food delivery services with POS
$65.00M Series C
Sagemcom
2 portfolio companies | Provider of communication and energy metering
solutions
Tessares
Hybrid access networks with MPTCP routing protocol
$4.11M Series A
Estari
2 portfolio companies | Estari
Protealis
Provider of hybrid seeds for farmers
$7.13M Seed
Prime Ventures
50 portfolio companies | VC firm investing in parts of Europe
Qover
Software suite for the insurance industry
$25.00M Series B

7. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲5 Life Sciences Platforms and Tools > Research Services $85.2M 1 Univercells | $85.2M | Series C
2 -- Fibrosis Drugs $74.0M 1 AgomAb Thera.. | $74.0M | Series B
3 ▲13
Food Tech > Technology Enablers > Restaurants > Online
Ordering Solutions
$65.0M 1 Deliverect | $65.0M | Series C
4 -- RPA in Finance & Accounting $53.6M 1 UnifiedPost | $53.6M | Series D
5 -- COVID-19 Drugs $49.6M 2 ExeVir Bio | $27.0M | Series A
6 -- Non-Invasive Continuous Glucose Monitoring Devices $44.3M 1 Indigo | $44.3M | Series B
7 --
Disease Self Management > Diabetes > Monitoring >
Glucose > Device > Wearable
$44.3M 1 Indigo | $44.3M | Series B
8 --
Immunotherapy > Vaccine > Therapeutic > Cell Based >
Dendritic Cell
$38.2M 1 eTheRNA | $38.2M | Series B
9 --
Finance & Accounting Tech > Tools for Finance
Professionals > Accountants
$30.0M 1 Silverfin | $30.0M | Series B
10 --
Cardiac and Vascular Disorders > Medical Devices >
Therapeutic Devices > Heart Attack
$28.7M 1 Miracor Medi.. | $28.7M | Series E

8. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Belgium Tech in April 2021
Belgium Tech: Analyst Picks
8
Upgraded to SOONICORN
Qover (2016, Brussels, $9.1M, Series B)
Software suite for the insurance industry
Belcube, Prime Ventures, Anthemis Group and 6 other
Investors
Upgraded to MINICORN
AppTweak (2012, Etterbeek, $500K, Seed)
App Store Optimization platform
Rossel Group, Go Beyond, Finnance.brussels and 1
other Investors
Added to Editor's Pick
Shayp (2017, Brussels, $2.3M, Seed)
Water leakage detection solution provider
Start it @KBC,Finnance.brussels,AMAVI Capitaland
Added to Editor's Pick
Byteflies (2015, Antwerp, Undisclosed, Grant (prize
money))
Develops custom patient monitoring solutions using
wearable devices
Start it @KBC,MassChallenge,EIT Healthand
Added to Editor's Pick
Afriwise (2014, Brussels, Undisclosed, Angel)
Platform that provides answers to critical legal
business questions
Jacques Emsens,Christophe de Limburg Stirumand
Added to Editor's Pick
Salvus (2019, Antwerp, Undisclosed, Grant (prize
money))
Provider of mobile app to monitor vital health
Start it @KBC,EIT Healthand

9. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Belgium Tech in April 2021
Belgium Tech: Analyst Picks
9
Added to Editor's Pick
IMAX Pro (1988, Aywaille, Unfunded)
Provider of robotic solutions for the wood industry
SRIWand
Added to Editor's Pick
Conneqtr (2021, Unfunded)
SaaS-driven site management software for
construction professionals
Start it @KBCand
Added to Editor's Pick
HAIRCYCLE (2020, Ghent, Unfunded)
Online platform offering organic fertilizers using hair
residue
Start it @KBCand
Added to Editor's Pick
Perfect ID (2019, Anderlecht, Unfunded)
Provider of vascular biometric systems
Corda Campusaand
Added to Editor's Pick
Apideck (2018, Antwerp, Unfunded)
Cloud-based API integration solutions provider
Added to Editor's Pick
Ledpilot (2017, Alleur, Unfunded)
Digital signage software solutions provider
Added to Editor's Pick
YAMM (2015, Brussels, Unfunded)
Cloud-based platform offering solutions for email
marketing
Added to Editor's Pick
Corporify (2015, Brussels, Unfunded)
Cloud-based legal entity management software
provider

10. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Belgium Tech in April 2021
Belgium Tech: Acquisitions
10
Acq. Date Company Acquirer Deal Size
08 Apr 2021
Fasttel(1998, Lokeren)
Solutions for secure access control
KPTL
16 Apr 2021
XPOfleet(1998, Berchem)
Manufacture of automotive aftermarket accessories
Fleet Support

11. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Belgium Tech in April 2021
Belgium Tech:News
11
Exit News
.
● AI Capital portfolio company Link3D to be acquired by Materialise Private Equity
Wire
.
● Nyxoah Announces Submission of Draft Registration Statement For Proposed
Public Listing in the United States Calgary Herald
.
● OpenGate buys Kongsberg from Esko PE Hub
.
● OpenGate Capital Management’s Acquisition of Esko Group Global Legal Chronicle
.
● AutoBinck division Fleet Support acquires Gloriant (XPOfleet & Mobilitypower)
Fleet Europe
.
● KPTL arm acquires 51% stake in Fasttel Business Line
.
● OpenGate Capital Completes Acquisition of Kongsberg Precision Cutting
Systems from Esko Business Wire
.
● OpenGate Capital acquires Kongsberg Precision Cutting Systems from Esko
Private Equity Wire
.
People News
.
● Celyad Oncology Appoints Dr. Charles Morris as Chief Medical Officer
● Biocartis Files FDA Submission for Microsatellite Instability Test in Colorectal
Cancer GenomeWeb
.
● Online Supermarket Hopr Launches In Belgium esmmagazine.com
.
● Unifiedpost Group Enters Italian and Spanish Market Business Wire

12. Belgium Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Belgium Tech on Tracxn Platform
Belgium Tech: Explore more on Tracxn Platform
12
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Belgium
AI Companies in Belgium
Fintech Companies Belgium
Consumer Digital in Belgium
Company Due Diligence
Detailed profile of Collibra
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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