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

2. Belgium Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies 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 Limited. All rights reserved.
Belgium Tech - Funding in last 1 year
3
SME Business Management
Software
$215M
IT Operations $159M
Life Sciences Platforms and Tools $149M
Food Tech $72.8M
MarketingTech $39.3M
Diabetes $25.8M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Volta Ventures
LRM
PMV
3
2
2
Early
Stage
PMV
SFPI
SRIW
5
5
4
Late
Stage
Redpoint Ventures
Summit Partners
DST Global
1
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Odoo
(2005, Brussels)
$215M - Series D
Lansweeper
(2004, 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
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
Amyl Therapeutics
(2020, Liege)
$22.3M - Series A
Brussels (28%)
Grembergen (14%)
Ghent (13%)
Gosselies (11%)
Zwijnaarde (5%)
Others (29%)

4. Copyright © 2021, Tracxn Technologies 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▲4 Business Management Software $215M 1 Odoo | $215M | Series D Link
2▲19 Life Sciences Research Services $131M 3 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▼4 Drugs for Multiple Cancer Types $25.8M 1 Imcyse | $25.8M | Series B Link
6-- Diabetes Drugs $25.8M 1 Imcyse | $25.8M | Series B Link
7-- Neurological Disorder Drugs $23.8M 1 NeuVasQ Biot.. | $23.8M | Series A Link
8▲23 Hepatic Disorder Drugs $23.8M 1 Promethera | $23.8M | Series E Link
9▲6 COVID-19 Drugs $22.7M 1 ExeVir Bio | $22.7M | Series A Link
10-- Rare Neurological Disease Drugs $22.3M 1 Amyl Therape.. | $22.3M | 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 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-- App Store Optimisation Platforms $22.0M 1 AppTweak | $22.0M | Series B Link
12-- Drugs for Sarcopenia $22.0M 2 Rejuvenate B.. | $18.2M | Series B Link
13-- Four Wheeler Electric Vehicle Motor $19.6M 1 Magnax | $19.6M | Series A Link
14-- Crop Biologicals $16.6M 1 Aphea.Bio | $16.6M | Series B Link
15-- Data Generation Screening $14.6M 1 reMYND | $14.6M | Series B Link
16-- Marketing Agency Marketplace $13.0M 1 Sortlist | $13.0M | Series B Link
17-- Clinical Trial Supply Management Solutions $11.8M 1 N-SIDE | $11.8M | Series B Link
18-- Arrhythmia Diagnostic Tests $10.9M 1 FibriCheck | $10.9M | Series B Link
19-- On-Eye Solutions $9.4M 1 Azalea Vision | $9.4M | Series A Link
20-- Cloud RAN $8.2M 1 Accelleran | $8.2M | 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 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-- Hybrid Field Crop Seeds $7.1M 1 Protealis | $7.1M | Seed Link
22-- Accounting and Invoicing $6.7M 1 Accountable | $6.7M | Series A Link
23▲32 Microlearning Courses $4.9M 1 MobieTrain | $4.9M | Series A Link
24-- Remote Patient Monitoring Wearables $4.5M 1 Pulsify Medical | $4.5M | Series A Link
25-- Wearable Heart Monitoring devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
26-- Cardiac Health Monitoring Devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
27-- Blood Pressure Monitoring Wearable Device $4.5M 1 Pulsify Medical | $4.5M | Series A Link
28-- Orthopedic Rehabilitation App $4.5M 1 moveUp | $4.5M | Series A Link
29-- Network Routing Software $4.1M 1 Tessares | $4.1M | Series A Link
30▲24 White Label Robo Advisors $3.7M 1 InvestSuite | $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.

7. Copyright © 2021, Tracxn Technologies 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--
Healthcare IT > Value Based Care > Remote
Monitoring > Hardware > Passively > Activity based
$3.7M 1 Kaspard | $3.7M | Series A Link
32-- Wearable Devices for Elderly Care $3.7M 1 Kaspard | $3.7M | Series A Link
33-- Non-wearable Emergency Response Devices $3.7M 1 Kaspard | $3.7M | Series A Link
34-- Emergency Response System $3.7M 1 Kaspard | $3.7M | Series A Link
35-- PERS Device $3.7M 1 Kaspard | $3.7M | Series A Link
36-- Cyber Risk Assessment $3.3M 1 Sweepatic | $3.3M | Series B Link
37-- Smart Kitchen Hardware $3.0M 1 mealhero | $3.0M | Angel Link
38-- Employee Engagement Platforms $2.4M 1 Ambassify | $2.4M | Seed Link
39-- Water Leak Detection Solutions $2.3M 1 Shayp | $2.3M | Seed Link
40-- Collaaborative Logistics $2.3M 1 DIGILOGIC | $2.3M | Seed 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 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-- PC and Console Casual Game Developers $2.0M 1 Happy Volcano | $2.0M | Seed Link
42-- Financial Planning Solution for Wealth Managers $1.7M 1 PaxFamilia | $1.7M | Seed Link
43-- Internet First Property Rental Agency $1.6M 1 Rentio | $1.6M | Seed Link
44-- Customer Journey Analytics $1.4M 1 KWARTS | $1.4M | Seed Link
45-- Regulatory Reporting for Financial Institutions $1.2M 1 b.fine | $1.2M | Seed Link
46--
Healthcare IT > Value Based Care > Patient
Engagement > Suite Solutions
$1.2M 1 Neuroventis | $1.2M | Seed Link
47-- Data Privacy Management Platforms $1.2M 2 RESPONSUM | $1.2M | Seed Link
48-- Predictive Lead Generation $544K 1 journy.io | $544K | Seed Link
49-- Customer Data Platforms $544K 2 KWARTS | $1.4M | Seed Link
50-- Autonomous Vehicles Training Data $125K 1 Segments | $125K | 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 Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Business Management Software -
Belgium
01
9
Back to index
SME Business Management Software (Skedify)
(# Cos: 20 | $322M)
Business Management Suite (Odoo)
(# Cos: 3 | $320M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$215M (▲139%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$320M
2
-
3
1
Odoo
(2005, Brussels, $320M)
Furoo
(2016, Ypres)
United XPM
(2020, Herstal)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Odoo (2005, Brussels)
$215M - Series D - Jul 2021

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Univercells (2013, Gosselies)
$85.2M - Series C - Dec 2020
Promethera (2009, Mont-saint-guibert)
$23.8M - Series E - Jul 2021
Novadip (2013, Mont-saint-guibert)
$22.0M - Series B - Oct 2021
Life Sciences Research Services - Belgium
02
10
Back to index
Life Sciences Platforms and Tools (Diagenode)
(# Cos: 84 | $493M)
Research Services (Syndesi Therapeutics)
(# Cos: 48 | $385M)
Diversified (Univercells)
(# Cos: 33 | $384M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$131M (▲907%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$384M
20
1
33
5
Univercells
(2013, Gosselies, $146M)
Syndesi Therapeutics
(2018, Louvain-la-neuve, $21.1M)
Promethera
(2009, Mont-saint-guib.., $131M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2021, Tracxn Technologies 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: 73 | $124M)
Technology Enablers (Beerhive)
(# Cos: 19 | $97.6M)
Restaurants (APICBASE)
(# Cos: 16 | $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 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: 63 | $49.9M)
IAM (Scaled Access)
(# Cos: 21 | $36.9M)
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 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
05
13
Back to index
Oncology (Biocartis)
(# Cos: 33 | $905M)
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.

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Diabetes Drugs - Belgium
06
14
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

15. Copyright © 2021, Tracxn Technologies 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
07
15
Back to index
Neurology (Oncomfort)
(# 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.

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Hepatic Disorder Drugs - Belgium
08
16
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

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
COVID-19 Drugs - Belgium
09
17
Back to index
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
-
2
1
Infectious Diseases (A-Mansia Biotech)
(# Cos: 9 | $176M)
Drugs (Imcyse)
(# Cos: 6 | $176M)
Viral (Quantoom Biosciences)
(# Cos: 2 | $49.6M)
COVID-19 (ExeVir Bio)
(# Cos: 2 | $49.6M)
ExeVir Bio
(2020, Zwijnaarde, $49.6M)
Quantoom Biosciences
(2021, Nivelles)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ExeVir Bio (2020, Zwijnaarde)
$22.7M - Series A - Mar 2021

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Rare Neurological Disease Drugs -
Belgium
10
18
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

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
App Store Optimisation Platforms -
Belgium
11
19
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

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Rejuvenate Biomed (2017, Hasselt)
$18.2M - Series B - Oct 2021
Rejuvenate Biomed (2017, Hasselt)
$3.8M - Series A - Mar 2021
Drugs for Sarcopenia - Belgium
12
20
Back to index
Dermatology (Devroye Instruments)
(# Cos: 6 | $22.0M)
Drugs (Auriga international)
(# Cos: 2 | $22.0M)
Sarcopenia (Rejuvenate Biomed)
(# Cos: 1 | $22.0M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$22.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$22.0M
1
-
1
0
Rejuvenate Biomed
(2017, Hasselt, $22.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Magnax (2015, Kortrijk)
$19.6M - Series A - Jan 2021
Four Wheeler Electric Vehicle Motor -
Belgium
13
21
Back to index
Electric Vehicles (Cowboy)
(# Cos: 78 | $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.

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Crop Biologicals - Belgium
14
22
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: 64 | $125M)
Farm Inputs (Biobest)
(# Cos: 15 | $119M)
Biologicals (Biotalys)
(# Cos: 8 | $112M)
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

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Data Generation Screening - 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
$14.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$29.1M
1
-
1
1
Life Sciences Platforms and Tools (Univercells)
(# Cos: 84 | $493M)
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

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Marketing Agency Marketplace -
Belgium
16
24
Back to index
MarketingTech (AppTweak)
(# Cos: 150 | $138M)
Marketplace (Sortlist)
(# Cos: 1 | $15.9M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$13.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.9M
1
-
1
1
Sortlist
(2014, Wavre, $15.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sortlist (2014, Wavre)
$13.0M - Series B - Sep 2021

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Clinical Trial Supply Management
Solutions - 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
1
-
1
1
Life Sciences Tech (UgenTec)
(# Cos: 53 | $73.0M)
Research & Development (ONTOFORCE)
(# Cos: 50 | $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

26. Copyright © 2021, Tracxn Technologies 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
18
26
Back to index
Cardiac and Vascular Disorders (Miracor Medical)
(# Cos: 15 | $233M)
In-Vitro Diagnostics (Pronota)
(# Cos: 3 | $47.3M)
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.

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
On-Eye 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
$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

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cloud RAN - Belgium
20
28
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

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Hybrid Field Crop Seeds - Belgium
21
29
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: 64 | $125M)
Farm Inputs (Biotalys)
(# Cos: 15 | $119M)
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

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Accountable (2017, Brussels)
$6.7M - Series A - Sep 2021
Accounting and Invoicing - Belgium
22
30
Back to index
Freelancer IT (betoobe)
(# Cos: 7 | $8.7M)
Financial Solutions (F Billing)
(# Cos: 3 | $8.7M)
Accounting and Invoicing (Accountable)
(# Cos: 3 | $8.7M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$6.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.7M
1
-
3
0
Accountable
(2017, Brussels, $8.7M)
F Billing Cloudmango
(2016, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

31. Copyright © 2021, Tracxn Technologies 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
23
31
Back to index
HRTech (intuo.io)
(# Cos: 224 | $20.0M)
LMS (MySkillCamp)
(# Cos: 24 | $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.

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Remote Patient Monitoring Wearables -
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
$4.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.4M
2
-
2
1
Healthcare IT (icometrix)
(# Cos: 171 | $83.8M)
Value Based Care (Cubigo)
(# Cos: 45 | $28.0M)
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

33. Copyright © 2021, Tracxn Technologies 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
25
33
Back to index
Wearable Technology (Oncomfort)
(# Cos: 32 | $163M)
Health and Wellness Devices (Nyxoah)
(# Cos: 16 | $133M)
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 ( -- )
1( -- )
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.

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cardiac Health Monitoring Devices -
Belgium
26
34
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 ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.4M
1
-
2
1
Cardiac and Vascular Disorders (FibriCheck)
(# Cos: 15 | $233M)
Medical Devices (Miracor Medical)
(# 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

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Blood Pressure Monitoring Wearable
Device - 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 ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.4M
1
-
1
1
Disease Self Management (Nyxoah)
(# Cos: 57 | $195M)
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

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Orthopedic Rehabilitation App - Belgium
28
36
Back to index
Disease Self Management (Nyxoah)
(# Cos: 57 | $195M)
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

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Network Routing Software - Belgium
29
37
Back to index
Enterprise Networking (Inmanta)
(# Cos: 10 | $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

38. Copyright © 2021, Tracxn Technologies 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
30
38
Back to index
Investment Tech (Tricount)
(# Cos: 68 | $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.

39. Copyright © 2021, Tracxn Technologies 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
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
$3.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.8M
2
-
3
1
Healthcare IT (icometrix)
(# Cos: 171 | $83.8M)
Value Based Care (Cubigo)
(# Cos: 45 | $28.0M)
Remote Monitoring (LindaCare)
(# Cos: 16 | $22.3M)
Hardware (Pulsify Medical)
(# Cos: 9 | $12.2M)
Passively (MintT)
(# 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

40. Copyright © 2021, Tracxn Technologies 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
32
40
Back to index
Wearable Technology (Oncomfort)
(# Cos: 32 | $163M)
Health and Wellness Devices (Nyxoah)
(# Cos: 16 | $133M)
Elderly Care (Kaspard)
(# 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
Kaspard
(2017, Brussels, $4.8M)
BlooLoc
(2014, Hasselt, $2.2M)
Senso2Me
(2015, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Non-wearable Emergency Response
Devices - Belgium
33
41
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: 19 | $7.0M)
Assistive Hardware (BlooLoc)
(# Cos: 10 | $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

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Emergency Response System - Belgium
34
42
Back to index
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

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
PERS Device - Belgium
35
43
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
-
$7.0M
4
-
7
1
Disease Self Management (Nyxoah)
(# Cos: 57 | $195M)
Geriatrics (MintT)
(# Cos: 10 | $7.0M)
PERS (BlooLoc)
(# Cos: 7 | $7.0M)
Device (Kaspard)
(# Cos: 7 | $7.0M)
Kaspard
(2017, Brussels, $4.8M)
BlooLoc
(2014, Hasselt, $2.2M)
MintT
(2017, Brussels)
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

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Sweepatic (2016, Leuven)
$3.3M - Series B - Oct 2021
Cyber Risk Assessment - Belgium
36
44
Back to index
Cybersecurity (itsme)
(# Cos: 63 | $49.9M)
Security Analytics (VEEZO)
(# Cos: 2 | $4.4M)
Cyber Risk & Vulnerability Assessment
(Sweepatic)
(# Cos: 1 | $4.4M)
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
-
$4.4M
1
-
1
0
Sweepatic
(2016, Leuven, $4.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Smart Kitchen Hardware - Belgium
37
45
Back to index
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: 73 | $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

46. Copyright © 2021, Tracxn Technologies 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
38
46
Back to index
HRTech (MobieTrain)
(# Cos: 224 | $20.0M)
Employee Engagement (Meet Roger)
(# Cos: 21 | $2.8M)
Suite (Ambassify)
(# Cos: 7 | $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
-
7
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.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Shayp (2017, Brussels)
$2.3M - Seed - Dec 2020
Water Leak Detection Solutions -
Belgium
39
47
Back to index
Water and Wastewater Management Tech (Desotec)
(# Cos: 11 | $3.8M)
Water Usage and Leak Detection (Fluves)
(# Cos: 4 | $2.3M)
Leak Detection (Shayp)
(# Cos: 2 | $2.3M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$2.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
1
-
2
0
Shayp
(2017, Brussels, $2.3M)
iSensPro
(2018, Leuven)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Collaaborative Logistics - 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
$2.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
1
-
1
0
Logistics Tech (Supplystack)
(# Cos: 128 | $172M)
Freight (Transics)
(# Cos: 77 | $73.4M)
Multimodal (Ubidata)
(# Cos: 25 | $5.0M)
Technology Enablers (Alpega Group)
(# Cos: 24 | $5.0M)
Collaborative Logistics (DIGILOGIC)
(# Cos: 1 | $2.3M)
DIGILOGIC
(2020, Brussels, $2.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
DIGILOGIC (2020, Brussels)
$2.3M - Seed - Mar 2021

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
PC and Console Casual Game Developers
- Belgium
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$2.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.0M
4
-
11
0
PC & Console Gaming (CrazyGames)
(# Cos: 24 | $2.0M)
Game Developers (Bart Bonte)
(# Cos: 17 | $2.0M)
PC & Console Games (Larian)
(# Cos: 15 | $2.0M)
Casual Games (Fishing Cactus)
(# Cos: 11 | $2.0M)
Fishing Cactus
(2008, Mons)
Bart Bonte
(2005, Aalter)
Happy Volcano
(2017, $2.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Happy Volcano (2017, Leuven)
$2.0M - Seed - Feb 2021

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
PaxFamilia (2017, Etterbeek)
$1.7M - Seed - May 2021
Financial Planning Solution for Wealth
Managers - Belgium
42
50
Back to index
Investment Tech (Tricount)
(# Cos: 68 | $15.3M)
Wealth Management IT (InvestSuite)
(# Cos: 5 | $12.7M)
Financial Planning (PaxFamilia)
(# Cos: 1 | $1.7M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$1.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.7M
1
-
1
0
PaxFamilia
(2017, Etterbeek, $1.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Rentio (2018, Rijmenam)
$1.6M - Seed - Dec 2020
Internet First Property Rental Agency -
Belgium
43
51
Back to index
Property Management Tech (Opinum)
(# Cos: 31 | $7.5M)
Rental Management (Renterland)
(# Cos: 5 | $1.6M)
Tech First Rental Agency (Rentio)
(# Cos: 3 | $1.6M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$1.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.6M
1
-
3
0
Rentio
(2018, Rijmenam, $1.6M)
Apandre
(2011, Brussels)
YouRENT
(2018, La Hulpe)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Customer Journey Analytics - 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
$1.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.4M
1
-
1
0
MarketingTech (AppTweak)
(# Cos: 150 | $138M)
Marketing Data Platforms (journy.io)
(# Cos: 5 | $46.4M)
Customer Data Platforms (NGDATA)
(# Cos: 5 | $46.4M)
Customer Journey Analytics
(KWARTS)
(# Cos: 1 | $1.4M)
KWARTS
(2016, Hasselt, $1.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
KWARTS (2016, Hasselt)
$1.4M - Seed - Jun 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Regulatory Reporting for Financial
Institutions - Belgium
45
53
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RegTech (Intix)
(# Cos: 16 | $2.3M)
Regulatory Reporting (b.fine)
(# Cos: 1 | $1.2M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$1.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2M
1
-
1
0
b.fine
(2017, Brussels, $1.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
b.fine (2017, Brussels)
$1.2M - Seed - Jan 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Healthcare IT > Value Based Care > Patient Engagement >
Suite Solutions - Belgium
46
54
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$1.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2M
2
-
6
0
Healthcare IT (icometrix)
(# Cos: 171 | $83.8M)
Value Based Care (Cubigo)
(# Cos: 45 | $28.0M)
Patient Engagement (Aardex Group)
(# Cos: 13 | $1.2M)
Suite Solutions (Neuroventis)
(# Cos: 6 | $1.2M)
Neuroventis
(2020, Overijse, $1.2M)
Q1.6
(2014, Antwerp)
PFMD
(2015, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Neuroventis (2020, Overijse)
$1.2M - Seed - Mar 2021

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Data Privacy Management Platforms -
Belgium
47
55
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$1.2M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2M
4
-
13
0
GRC Software (Collibra)
(# Cos: 39 | $381M)
Compliance (C4T)
(# Cos: 25 | $29.4M)
IT Compliance (Datavillage)
(# Cos: 14 | $1.2M)
Data Privacy (RESPONSUM)
(# Cos: 13 | $1.2M)
RESPONSUM
(undefined, Zaventem, $1.2M)
Datavillage
(2018, Brussels)
SMOOTH
(2018, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
RESPONSUM (Zaventem)
$1.2M - Seed - Oct 2021
Datavillage (2018, Brussels)
Undisclosed - Seed - Jan 2021

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
journy.io (2019, Ghent)
$544K - Seed - Feb 2021
Predictive Lead Generation - Belgium
48
56
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Sales Force Automation (Teamleader)
(# Cos: 59 | $50.3M)
Lead Generation (ManyContacts)
(# Cos: 4 | $544K)
Predictive Lead Generation (journy.io)
(# Cos: 1 | $544K)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$544K ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$544K
1
-
1
0
journy.io
(2019, Ghent, $544K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
KWARTS (2016, Hasselt)
$1.4M - Seed - Jun 2021
journy.io (2019, Ghent)
$544K - Seed - Feb 2021
Customer Data Platforms - Belgium
49
57
Back to index
MarketingTech (AppTweak)
(# Cos: 150 | $138M)
Marketing Data Platforms (journy.io)
(# Cos: 5 | $46.4M)
Customer Data Platforms (NGDATA)
(# Cos: 5 | $46.4M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$544K ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$46.4M
4
-
5
1
NGDATA
(2012, Gentbrugge, $44.4M)
journy.io
(2019, Ghent, $544K)
KWARTS
(2016, Hasselt, $1.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Segments (2018, Leuven)
$125K - Seed - Jan 2021
Autonomous Vehicles Training Data -
Belgium
50
58
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Autonomous Vehicles (XenomatiX)
(# Cos: 7 | $1.4M)
Testing (IVEX)
(# Cos: 3 | $1.4M)
Training Data (Segments)
(# Cos: 1 | $125K)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$125K ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$125K
1
-
1
0
Segments
(2018, Leuven, $125K)
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 Limited. All rights reserved.
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Belgium Tech - Top Business Models Report
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