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1. TRACXN MONTHLY REPORT
JANUARY 2022
BELGIUM TECH

2. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies 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 8
New Analyst Picks 9
Acquisitions 10
Recent News 11

3. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech Snapshot – January 2022
Belgium Tech: Snapshot – January 2022
Note : "Investors" refers to "Institutional Investors" only
3
$334M
6
Overall Geo Stats
14
2
36
8
9
Funding Rounds $ Invested Analyst Picks
Deliverect
Upgraded to
UNICORN
New Investors
Eothen
TriplePoint Capital
Series A+ rounds Active Investors IPOs Acquisitions
Proxyclick
Goolash
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Brussels
(3 Rounds, $98.5M)
Ghent
(1 Rounds, $208M)
Antwerp
(1 Rounds, $14.5M)
Kapellen
(1 Rounds, $5.2M)
$208M - Series D
Deliverect (2018, Ghent, $332M)
$80M - Series C
Cowboy (2017, Brussels, $126M)
$14.5M - Series B
Nobi (2018, Antwerp, $14.5M)
$12.5M - Series B
Moneytrans World (2002, Brussels,
$12.5M)
Finnance.brussels
(2 Investments)
Index Ventures
(1 Investments)
Tiger Global Management
(1 Investments)
Redpoint Ventures
(1 Investments)
Food Tech
Deliverect
Electric Vehicles
Cowboy
Disease Self Management
Nobi
Assistive Tech
Market Size
Companies Covered 4,241
Funded Companies 1,182
Total Funding $7.2B
Funding in last 12 months $2.7B
Top Exits
IPOs 29
Acquisitions 218
Company Stage
Unicorns 4
Soonicorns 15
Minicorns 97
Editor Picks 430
Series A+ 254
Series C+ 52
Acqui-Hires 1
Deadpooled 240
Top Cities
Brussels (160 Rounds, $1.6B)
Ghent (81 Rounds, $747M)
Top Investors
PMV (55 Investments)
SRIW (36 Investments)

4. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Belgium Tech as of January 2022
Belgium Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (January 2022)*
Deliverect
(2018, Ghent, $332M)
$208M - Series D Coatue
Cowboy
(2017, Brussels, $126M)
$80.0M - Series C Exor
Nobi
(2018, Antwerp, $14.5M)
$14.5M - Series B Life Sciences Partners
Moneytrans World
(2002, Brussels, $12.5M)
$12.5M - Series B axio
NGRAVE
(2018, Brussels, $6.4M)
$6.0M - Seed Woodstock
Cake
(2019, Kapellen, $5.2M)
$5.2M - Seed Truffle Capital
ElmediX
(2015, Leuven, $4.5M)
$4.5M - Series A
AiVidens
(2018, Rixensart, $1.7M)
$1.7M - Seed Faraday
Ionnyk
(2020, La Hulpe, $1.1M)
$1.1M - Series A W.IN.G
*Shows only the lead Investors

5. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Belgium Tech in January 2022
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
$80.0M - Series C
Cowboy (2017, Brussels, $125.9M)
Manufacturer of electric bicycles
Exor, HCVC, Siam Capital, Index Ventures, Future
Positive Capital, and 4 more
LATE STAGE
$208.0M - Series D
Deliverect (2018, Ghent, $332.0M)
Connects online food delivery services with POS
Coatue, Alkeon Capital Management, OMERS
Ventures, SmartFin, Redpoint Ventures, and 2 more
EARLY STAGE
$1.1M - Series A
Ionnyk (2020, La Hulpe, $1.1M)
Online platform offering digital art frames
W.IN.G, Noshaq, Invest.BW
EARLY STAGE
$4.5M - Series A
ElmediX (2015, Leuven, $4.5M)
Developer of the device for treating pancreatic cancer
EARLY STAGE
$12.5M - Series B
Moneytrans World (2002, Brussels, $12.5M)
App-based cross-border remittance platform for
individuals
axio, Finnance.brussels
EARLY STAGE
$14.5M - Series B
Nobi (2018, Antwerp, $14.5M)
Provider of a smart lamp for fall detection of elderly
people
PMV, , Life Sciences Partners
SEED STAGE
$1.7M - Seed
AiVidens (2018, Rixensart, $1.7M)
AI-based credit risk management solution
Faraday, Finnance.brussels, The Faktory
SEED STAGE
$5.2M - Seed
Cake (2019, Kapellen, $5.2M)
Personal financial management solution
Truffle Capital, Seeder Fund, Sambrinvest,
SEED STAGE
$6.0M - Seed
NGRAVE (2018, Brussels, $6.4M)
Hardware wallet solution for cryptocurrencies
Mapleblock, , Morningstar Ventures, Woodstock,
Digital Finance Group, and 1 more

6. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Belgium Tech in January 2022
Belgium Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Eothen
1 portfolio companies | Single-family office focused on venture capital, startup
incubation, and private equity investments
Cowboy
Manufacturer of electric bicycles
$80.00M Series C
TriplePoint Capital
110 portfolio companies | VC and private debt fund focused on multiple sectors
Cowboy
Manufacturer of electric bicycles
$80.00M Series C
Mapleblock
2 portfolio companies | Mapleblock
NGRAVE
Hardware wallet solution for cryptocurrencies
$6.00M Seed
Faraday
27 portfolio companies | Group of angel investors focused on multiple sectors
AiVidens
AI-based credit risk management solution
$1.69M Seed
sparkdigitalcapital.com
32 portfolio companies |
NGRAVE
Hardware wallet solution for cryptocurrencies
$6.00M Seed
axio
1 portfolio companies | AXIO – Le capital en action
Moneytrans World
App-based cross-border remittance platform for individuals
$12.48M Series B
Woodstock
23 portfolio companies | Venture capital fund focused on distributed ledger
technology (DLT) startups and companies
NGRAVE
Hardware wallet solution for cryptocurrencies
$6.00M Seed
Moonrock Capital
22 portfolio companies | Venture capital firm focused on tech startups
NGRAVE
Hardware wallet solution for cryptocurrencies
$6.00M Seed
Coatue
320 portfolio companies | Equity strategy focused hedge fund
Deliverect
Connects online food delivery services with POS
$208M Series D
freshment.com
1 portfolio companies |
Cake
Personal financial management solution
$5.24M Seed

7. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Belgium Tech in January 2022
Belgium Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Morningstar Ventures
33 portfolio companies | Limited information available
NGRAVE
Hardware wallet solution for cryptocurrencies
$6.00M Seed
Digital Finance Group
40 portfolio companies | Business group investing in blockchain and digital asset
startups
NGRAVE
Hardware wallet solution for cryptocurrencies
$6.00M Seed
Siam Capital
1 portfolio companies | Venture capital firm investing in multiple sectors
Cowboy
Manufacturer of electric bicycles
$80.00M Series C
Alkeon Capital Management
44 portfolio companies | Long-only equity hedge fund
Deliverect
Connects online food delivery services with POS
$208M Series D

8. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies 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.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Electric Four Wheeler Li-Ion Battery $1.2B 1 Automotive Ce.. | $1.2B | Series D
2 ▲15 Online Ordering Solutions $273M 2 Deliverect | $208M | Series D
3 <> 0 Data Cataloging $250M 1 Collibra | $250M | Series G
4 <> 0 Data Catalog Platform and Metadata Management $250M 1 Collibra | $250M | Series G
5 <> 0 Data Governance Platforms $250M 1 Collibra | $250M | Series G
6 <> 0 Metadata Management $250M 1 Collibra | $250M | Series G
7 -- Business Management Software $215M 1 Odoo | $215M | Series D
8 -- Adult Stem Cell Based Therapeutics $45.8M 2 Promethera | $23.8M | Series E
9 ▼-2 Life Sciences Research Services $45.8M 2 Promethera | $23.8M | Series E
10 -- Customer Identity Verification $29.3M 1 itsme | $29.3M | Series B

9. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Belgium Tech in January 2022
Belgium Tech: Analyst Picks
9
Upgraded to UNICORN
Deliverect (2018, Ghent, $3.4M, Series A)
Connects online food delivery services with POS
OMERS Ventures, Newion Investments, Alkeon Capital
Management and 4 other Investors
Upgraded to MINICORN
Cake (2019, Kapellen, $5.2M, Seed)
Personal financial management solution
Seeder Fund, Truffle Capital, and 2 other Investors
Upgraded to MINICORN
Moneytrans World (2002, Brussels, $12.5M, Series
B)
App-based cross-border remittance platform for
individuals
Finnance.brussels,axioand
Upgraded to MINICORN
Nobi (2018, Antwerp, $14.5M, Series B)
Provider of a smart lamp for fall detection of elderly
people
PMV,,Life Sciences Partnersand
Added to Editor's Pick
Venly (2018, Willebroek, $1.8M, Seed)
Online wallet and marketplace for NFTs
Imec,David Majert,HTGFand
Added to Editor's Pick
Infos Radars (2012, Brussels, Unfunded)
App-based platform offering live traffic and road
condition alert services
Added to Editor's Pick
Smstools (2004, Dilsen, Unfunded)
Platform offering SMS marketing software
Added to Editor's Pick
Izix (2011, Brussels, Unfunded)
Saas-enabled platform offering comprehensive parking
management system

10. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Belgium Tech in January 2022
Belgium Tech: Acquisitions
10
Acq. Date Company Acquirer Deal Size
18 Jan 2022
Proxyclick(2004, Brussels, $18.6M)
Cloud based visitor management software
Condeco
25 Jan 2022
Goolash(2017, Antwerp)
Cloud-based platform for workflow automation
Zomentum

11. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Belgium Tech in January 2022
Belgium Tech:News
11
Exit News
.
● UCB to acquire Zogenix PR Newswire
.
● Condeco Acquires Proxyclick to Better Address the Urgent Need for Businesses
to Safely Reconnect People in the... Business Wire
.
● Itineris bolsters ambitious growth plans and acquires Opinum Itineris
.
● Univercells acquires SynHelix, enters synthetic biology field biopharma-reporter.com
.
● PatrimOne has acquired Eeckman Lincoln International
.
People News
.
● iTeos announces clinical development plans and promotes Yvonne McGrath,
Ph.D., to chief scientific officer GlobeNewswire
.
Company News
.
● FDA grants iStar Medical IDE for glaucoma implant pivotal trial MassDevice

12. Belgium Tech - January 2022 Copyright © 2022, Tracxn Technologies 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 Automotive Cells Company
Competitors of Collibra
Cap Tables of Deliverect
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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