The document provides an overview of top business models and recent funding rounds in Belgium tech. Food tech ($278M), GRC software ($272M), and SME business management software ($215M) received the most funding in the past year. The top funded business models were online ordering solutions ($273M across 2 rounds), data cataloging ($250M in 1 round), and business management software ($215M in 1 round). Notable funding rounds included Deliverect's $208M series D and Collibra's $250M series G.

1. TRACXN TOP BUSINESS MODELS REPORT
February 07, 2022
BELGIUM TECH

2. Belgium Tech - Top Business Models Report Copyright © 2022, 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 © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Funding in last 1 year
3
Food Tech $278M
GRC Software $272M
SME Business Management
Software
$215M
Immunology $99.8M
Electric Vehicles $80.0M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Volta Ventures
LRM
PMV
3
2
2
Early
Stage
SRIW
Sambrinvest
Noshaq
4
4
4
Late
Stage
Redpoint Ventures
Index Ventures
Tiger Global Management
2
2
2
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Collibra
(2008, Brussels)
$250M - Series G
Odoo
(2005, Brussels)
$215M - Series D
Deliverect
(2018, Ghent)
$208M - Series D
Lansweeper
(2004, Grembergen)
$159M - PE
Cowboy
(2017, Brussels)
$80.0M - 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
Brussels (42%)
Ghent (23%)
Grembergen (10%)
Liege (3%)
Mont-saint-guibert (3%)
Others (18%)

4. Copyright © 2022, 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▲19 Online Ordering Solutions $273M 2 Deliverect | $208M | Series D Link
2<> 0 Data Cataloging $250M 1 Collibra | $250M | Series G Link
3<> 0 Data Catalog Platform and Metadata Management $250M 1 Collibra | $250M | Series G Link
4<> 0 Data Governance Platforms $250M 1 Collibra | $250M | Series G Link
5<> 0 Metadata Management $250M 1 Collibra | $250M | Series G Link
6-- Business Management Software $215M 1 Odoo | $215M | Series D Link
7▼1 Life Sciences Research Services $45.8M 2 Promethera | $23.8M | Series E Link
8-- Customer Identity Verification $29.3M 1 itsme | $29.3M | Series B Link
9▼8 Drugs for Multiple Cancer Types $25.8M 1 Imcyse | $25.8M | Series B Link
10-- Diabetes Drugs $25.8M 1 Imcyse | $25.8M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, 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-- Neurological Disorder Drugs $23.8M 1 NeuVasQ Biot.. | $23.8M | Series A Link
12-- Hepatic Disorder Drugs $23.8M 1 Promethera | $23.8M | Series E Link
13▲3 COVID-19 Drugs $22.7M 1 ExeVir Bio | $22.7M | Series A Link
14-- Rare Neurological Disease Drugs $22.3M 1 Amyl Therape.. | $22.3M | Series A Link
15-- App Store Optimisation Platforms $22.0M 1 AppTweak | $22.0M | Series B Link
16-- Drugs for Sarcopenia $22.0M 2 Rejuvenate B.. | $18.2M | Series B Link
17-- Non-wearable Emergency Response Devices $18.2M 2 Nobi | $14.5M | Series B Link
18-- PERS Device $18.2M 2 Nobi | $14.5M | Series B Link
19-- Fall Alert Devices $14.5M 1 Nobi | $14.5M | Series B Link
20-- Marketing Agency Marketplace $13.0M 1 Sortlist | $13.0M | 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 © 2022, 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-- P2P Wallet Remittance $12.5M 1 Moneytrans W.. | $12.5M | Series B Link
22-- Arrhythmia Diagnostic Tests $10.9M 1 FibriCheck | $10.9M | Series B Link
23-- On-Eye Solutions $9.4M 1 Azalea Vision | $9.4M | Series A Link
24-- Cloud RAN $8.2M 1 Accelleran | $8.2M | Series B Link
25-- Plant Breeding Technology Providers $7.1M 1 Protealis | $7.1M | Seed Link
26-- Accounting and Invoicing $6.7M 1 Accountable | $6.7M | Series A Link
27▲29 Microlearning Courses $4.9M 1 MobieTrain | $4.9M | Series A Link
28▼7 Crop Biologicals $4.8M 1 Aphea.Bio | $4.8M | Series B Link
29-- Hyperthermia Therapy Device for Cancer Treatment $4.5M 1 ElmediX | $4.5M | Series A Link
30-- Remote Patient Monitoring Wearables $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 © 2022, 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-- Wearable Heart Monitoring devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
32-- Cardiac Health Monitoring Devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
33-- Ultrasound Imaging Devices $4.5M 1 Pulsify Medical | $4.5M | Series A Link
34-- Blood Pressure Monitoring Wearable Device $4.5M 1 Pulsify Medical | $4.5M | Series A Link
35-- Orthopedic Rehabilitation App $4.5M 1 moveUp | $4.5M | Series A Link
36-- Network Routing Software $4.1M 1 Tessares | $4.1M | Series A Link
37--
Healthcare IT > Value Based Care > Remote
Monitoring > Hardware > Passively > Activity based
$3.7M 1 Kaspard | $3.7M | Series A Link
38-- Wearable Devices for Elderly Care $3.7M 1 Kaspard | $3.7M | Series A Link
39-- Emergency Response System $3.7M 1 Kaspard | $3.7M | Series A Link
40-- Cyber Risk Assessment $3.3M 1 Sweepatic | $3.3M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, 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-- Employee Engagement Platforms $2.4M 1 Ambassify | $2.4M | Seed Link
42-- Neighbourhood Social Networks $2.4M 1 Hopplr | $2.4M | Series A Link
43-- Collaborative Logistics Software $2.3M 1 DIGILOGIC | $2.3M | Seed Link
44-- PC and Console Casual Game Developers $2.0M 1 Happy Volcano | $2.0M | Seed Link
45-- Browser Based Crypto Wallets $1.8M 1 Venly | $1.8M | Seed Link
46-- Heart Health Monitoring Device $1.7M 1 Moonbird | $1.7M | Seed Link
47-- Credit Risk Management $1.7M 1 AiVidens | $1.7M | Seed Link
48-- CRM Software for Healthcare Providers $1.4M 1 KWARTS | $1.4M | Seed Link
49--
Healthcare IT > Value Based Care > Patient
Engagement > Suite Solutions
$1.2M 1 Neuroventis | $1.2M | Seed Link
50-- Data Privacy Management Platforms $1.2M 1 RESPONSUM | $1.2M | 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 © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Online Ordering Solutions - Belgium
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$273M (▲1450%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$332M
1
-
2
1
Food Tech (Menu Next Door)
(# Cos: 80 | $366M)
Technology Enablers (Growzer)
(# Cos: 22 | $340M)
Restaurants (APICBASE)
(# Cos: 19 | $340M)
Online Ordering Solutions
(Deliverect)
(# Cos: 2 | $332M)
Deliverect
(2018, Ghent, $332M)
Flyx
(2019, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deliverect (2018, Ghent)
$208M - Series D - Jan 2022
Deliverect (2018, Ghent)
$65.0M - Series C - Apr 2021

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Collibra (2008, Brussels)
$250M - Series G - Nov 2021
Data Cataloging - Belgium
02
10
Back to index
Business Intelligence (Cumul.io)
(# Cos: 36 | $623M)
Data Preparation (Blendr.io)
(# Cos: 6 | $601M)
Cataloging and Metadata Management
(Collibra)
(# Cos: 2 | $596M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$250M (▲122%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$596M
1
-
2
1
Collibra
(2008, Brussels, $596M)
Xplore+
(2010, Antwerp)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Collibra (2008, Brussels)
$250M - Series G - Nov 2021
Data Catalog Platform and Metadata
Management - Belgium
03
11
Back to index
Big Data Analytics (TrendMiner)
(# Cos: 21 | $686M)
Data Preparation (Soda)
(# Cos: 6 | $615M)
Data Cataloging & Metadata
Management (Collibra)
(# Cos: 1 | $596M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$250M (▲122%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$596M
1
-
1
1
Collibra
(2008, Brussels, $596M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Collibra (2008, Brussels)
$250M - Series G - Nov 2021
Data Governance Platforms - Belgium
04
12
Back to index
GRC Software (C4T)
(# Cos: 42 | $631M)
Governance (Trusted Family)
(# Cos: 7 | $601M)
Data Governance (Collibra)
(# Cos: 3 | $596M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$250M (▲122%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$596M
1
-
3
1
Collibra
(2008, Brussels, $596M)
dFakto
(2000, Etterbeek)
RealDPG
(2016, Aarschot)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Metadata Management - 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
$250M (▲122%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$596M
1
-
1
1
Enterprise Information Management (ONTOFORCE)
(# Cos: 34 | $626M)
Enterprise Data Management (Datavillage)
(# Cos: 13 | $599M)
Data Governance (SWEAGLE)
(# Cos: 5 | $599M)
Metadata Management (Collibra)
(# Cos: 1 | $596M)
Collibra
(2008, Brussels, $596M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Collibra (2008, Brussels)
$250M - Series G - Nov 2021

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Business Management Software -
Belgium
06
14
Back to index
SME Business Management Software (Skedify)
(# Cos: 25 | $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 ( -- )
1( -- )
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

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
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
07
15
Back to index
Life Sciences Platforms and Tools (IBA)
(# Cos: 83 | $493M)
Research Services (Univercells)
(# Cos: 47 | $385M)
Diversified (Promethera)
(# Cos: 32 | $384M)
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$45.8M (▼46.3%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$384M
20
1
32
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.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Customer Identity Verification - Belgium
08
16
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 (Sweepatic)
(# Cos: 64 | $49.4M)
IAM (Scaled Access)
(# Cos: 20 | $33.5M)
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

17. Copyright © 2022, 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
09
17
Back to index
Oncology (Biocartis)
(# Cos: 34 | $910M)
Drugs (eTheRNA)
(# Cos: 19 | $522M)
Diversified (iTeos Therapeutics)
(# Cos: 16 | $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
1
$497M
13
3
16
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.

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Diabetes Drugs - Belgium
10
18
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

19. Copyright © 2022, 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
11
19
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.

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Hepatic Disorder Drugs - Belgium
12
20
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 ( -- )
1( -- )
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

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
COVID-19 Drugs - Belgium
13
21
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 (Aelin Therapeutics)
(# 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

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Rare Neurological Disease Drugs -
Belgium
14
22
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

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
App Store Optimisation Platforms -
Belgium
15
23
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

24. Copyright © 2022, 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
16
24
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.

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Non-wearable Emergency Response
Devices - 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
$18.2M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$19.3M
2
-
3
2
Assistive Tech (Jacoti)
(# Cos: 19 | $21.6M)
Assistive Hardware (BlooLoc)
(# Cos: 10 | $21.6M)
PERS (Nobi)
(# Cos: 5 | $19.3M)
Non-wearable (Kaspard)
(# Cos: 3 | $19.3M)
Kaspard
(2017, Brussels, $4.8M)
Nobi
(2018, Antwerp, $14.5M)
Jane
(2019, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nobi (2018, Antwerp)
$14.5M - Series B - Jan 2022
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
PERS Device - 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
$18.2M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$21.6M
5
-
8
2
Disease Self Management (Nyxoah)
(# Cos: 58 | $211M)
Geriatrics (Nobi)
(# Cos: 11 | $21.6M)
PERS (BlooLoc)
(# Cos: 8 | $21.6M)
Device (Kaspard)
(# Cos: 8 | $21.6M)
Kaspard
(2017, Brussels, $4.8M)
BlooLoc
(2014, Hasselt, $2.2M)
Nobi
(2018, Antwerp, $14.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nobi (2018, Antwerp)
$14.5M - Series B - Jan 2022
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Fall Alert Devices - 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
$14.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.5M
1
-
2
1
Geriatrics (Watcherr)
(# Cos: 4 | $19.3M)
Medical Devices (Kaspard)
(# Cos: 4 | $19.3M)
Fall Prevention (Zembro)
(# Cos: 2 | $14.5M)
Fall Alert (Nobi)
(# Cos: 2 | $14.5M)
Nobi
(2018, Antwerp, $14.5M)
Zembro
(2014, Merelbeke)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nobi (2018, Antwerp)
$14.5M - Series B - Jan 2022

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Marketing Agency Marketplace -
Belgium
20
28
Back to index
MarketingTech (AppTweak)
(# Cos: 158 | $137M)
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

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance - 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
$12.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.5M
2
-
2
1
Remittance (HomeSend)
(# Cos: 9 | $12.5M)
Internet First Platforms (transferly.io)
(# Cos: 7 | $12.5M)
P2P Remittance (Sofitto)
(# Cos: 4 | $12.5M)
Wallet Transfer (Moneytrans
World)
(# Cos: 2 | $12.5M)
Moneytrans World
(2002, Brussels, $12.5M)
YMoney
(2020, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Moneytrans World (2002, Brussels)
$12.5M - Series B - Jan 2022

30. Copyright © 2022, 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
22
30
Back to index
Cardiac and Vascular Disorders (Celyad)
(# Cos: 15 | $229M)
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.

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
On-Eye Solutions - Belgium
23
31
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

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cloud RAN - Belgium
24
32
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

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Plant Breeding Technology Providers -
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
$7.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$7.1M
3
-
4
0
Crop Tech (Biobest)
(# Cos: 65 | $130M)
Farm Inputs (Biotalys)
(# Cos: 15 | $124M)
Plant Breeding (Cropdesign)
(# Cos: 4 | $7.1M)
Technology Providers (Protealis)
(# Cos: 4 | $7.1M)
Protealis
(2021, Ghent, $7.1M)
Cropdesign
(1998, Zwijnaarde)
Perpetuum
(2019, Antwerp)
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

34. Copyright © 2022, 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
26
34
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.

35. Copyright © 2022, 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
27
35
Back to index
HRTech (intuo.io)
(# Cos: 231 | $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.

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Crop Biologicals - Belgium
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$4.8M (▼71.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.0M
1
-
1
1
Crop Tech (BIGH)
(# Cos: 65 | $130M)
Farm Inputs (Biobest)
(# Cos: 15 | $124M)
Biologicals (Biotalys)
(# Cos: 8 | $117M)
Diversified (Aphea.Bio)
(# Cos: 1 | $30.0M)
Aphea.Bio
(2017, Zwijnaarde, $30.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aphea.Bio (2017, Zwijnaarde)
$4.8M - Series B - Apr 2021

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Hyperthermia Therapy Device for Cancer
Treatment - 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 ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.5M
1
-
1
0
Oncology (iTeos Therapeutics)
(# Cos: 34 | $910M)
Medical Devices (Medical Device Works)
(# Cos: 5 | $11.1M)
Therapies (Eckert & Ziegler BEBIG)
(# Cos: 4 | $11.1M)
Radiation Therapy (Trod Medical)
(# Cos: 3 | $11.1M)
Hyperthermia Therapy (ElmediX)
(# Cos: 1 | $4.5M)
ElmediX
(2015, Leuven, $4.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ElmediX (2015, Leuven)
$4.5M - Series A - Jan 2022

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Remote Patient Monitoring Wearables -
Belgium
30
38
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: 179 | $85.9M)
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

39. Copyright © 2022, 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
31
39
Back to index
Wearable Technology (Oncomfort)
(# Cos: 31 | $157M)
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
1
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.

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Cardiac Health Monitoring Devices -
Belgium
32
40
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 | $229M)
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

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Ultrasound Imaging Devices - Belgium
33
41
Back to index
Imaging Diagnostics (IBA)
(# Cos: 6 | $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 ( -- )
1( -- )
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

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Blood Pressure Monitoring Wearable
Device - Belgium
34
42
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: 58 | $211M)
Cardiac and Vascular Disorders (FibriCheck)
(# Cos: 4 | $27.0M)
Monitoring (Moonbird)
(# Cos: 4 | $27.0M)
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

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Orthopedic Rehabilitation App - Belgium
35
43
Back to index
Disease Self Management (Nyxoah)
(# Cos: 58 | $211M)
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

44. Copyright © 2022, Tracxn Technologies 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: 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

45. Copyright © 2022, 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
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
$3.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.8M
2
-
3
1
Healthcare IT (icometrix)
(# Cos: 179 | $85.9M)
Value Based Care (Cubigo)
(# Cos: 45 | $28.0M)
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

46. Copyright © 2022, 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
38
46
Back to index
Wearable Technology (Oncomfort)
(# Cos: 31 | $157M)
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.

47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Kaspard (2017, Brussels)
$3.7M - Series A - Jul 2021
Emergency Response System - Belgium
39
47
Back to index
Geriatrics (Zembro)
(# Cos: 4 | $19.3M)
Medical Devices (Nobi)
(# Cos: 4 | $19.3M)
Emergency Response System (Kaspard)
(# Cos: 2 | $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
-
2
1
Kaspard
(2017, Brussels, $4.8M)
Watcherr
(2013, Erembodegem)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2022, 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
40
48
Back to index
Cybersecurity (intigriti)
(# Cos: 64 | $49.4M)
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.

49. Copyright © 2022, 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
41
49
Back to index
HRTech (MobieTrain)
(# Cos: 231 | $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.

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Neighbourhood Social Networks -
Belgium
42
50
Back to index
Social Platforms (My Social Book)
(# Cos: 44 | $14.0M)
Neighbours (Hopplr)
(# Cos: 1 | $3.7M)
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
-
$3.7M
1
-
1
1
Hopplr
(2014, Lokeren, $3.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hopplr (2014, Lokeren)
$2.4M - Series A - Mar 2021

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Collaborative Logistics Software -
Belgium
43
51
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 (Kiala)
(# Cos: 142 | $172M)
Freight (Transics)
(# Cos: 85 | $73.4M)
Multimodal (Intris)
(# 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

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
PC and Console Casual Game Developers
- 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
$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

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Browser Based Crypto Wallets - Belgium
45
53
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Taxonomy
$ Invested in last 1 year in Belgium
Tech
Key Stats
# Funding Rounds in last 1 year in
Belgium Tech
$1.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.8M
1
-
2
0
Cryptocurrencies (Keyrock)
(# Cos: 50 | $18.2M)
Wallet (NGRAVE)
(# Cos: 7 | $8.3M)
Hot Wallets (Comet)
(# Cos: 2 | $1.8M)
Browser Based (Venly)
(# Cos: 2 | $1.8M)
Venly
(2018, Willebroek, $1.8M)
Comet
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Venly (2018, Willebroek)
$1.8M - Seed - Apr 2021

54. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Heart Health Monitoring Device -
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
$1.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.7M
1
-
1
0
Disease Self Management (Nyxoah)
(# Cos: 58 | $211M)
Cardiac and Vascular Disorders (Noho)
(# Cos: 4 | $27.0M)
Monitoring (Pulsify Medical)
(# Cos: 4 | $27.0M)
Heart Health (FibriCheck)
(# Cos: 2 | $1.7M)
Device (Moonbird)
(# Cos: 1 | $1.7M)
Moonbird
(2019, Keerbergen, $1.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Moonbird (2019, Keerbergen)
$1.7M - Seed - Nov 2021

55. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Credit Risk Management - 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
$1.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.7M
1
-
3
0
RegTech (Intix)
(# Cos: 16 | $4.0M)
Risk Management (RiskConcile)
(# Cos: 6 | $1.7M)
Risk Type (FRS Global)
(# Cos: 6 | $1.7M)
Banking Industry Risks (iController)
(# Cos: 3 | $1.7M)
Credit Risk (AiVidens)
(# Cos: 3 | $1.7M)
AiVidens
(2018, Rixensart, $1.7M)
iController
(2007, Ghent)
Fact Credit Risk
(2011, Brussels)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AiVidens (2018, Rixensart)
$1.7M - Seed - Jan 2022

56. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
CRM Software for Healthcare Providers -
Belgium
48
56
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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
2
-
3
0
Healthcare IT (Cubigo)
(# Cos: 179 | $85.9M)
Provider (icometrix)
(# Cos: 128 | $57.9M)
Administrative Solutions (FEops)
(# Cos: 52 | $33.4M)
Marketing Solutions (CRMoptics)
(# Cos: 5 | $1.4M)
CRM (KWARTS)
(# Cos: 3 | $1.4M)
KWARTS
(2016, Hasselt, $1.4M)
CRMoptics
(2017, Ghent)
Smart IT Systems
(1995, Beersel)
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

57. Copyright © 2022, 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
49
57
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: 179 | $85.9M)
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

58. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Belgium Tech - Top Business Models Report
Recent Funding Rounds
Data Privacy Management Platforms -
Belgium
50
58
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
4
-
13
0
GRC Software (Collibra)
(# Cos: 42 | $631M)
Compliance (C4T)
(# Cos: 28 | $29.4M)
IT Compliance (Datavillage)
(# Cos: 14 | $1.2M)
Data Privacy (RESPONSUM)
(# Cos: 13 | $1.2M)
RESPONSUM
(undefined, Zaventem, $1.2M)
Datavillage
(2018, Brussels)
ComplianceBoard
(2019, Antwerp)
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

59. Belgium Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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Belgium Tech - Top Business Models Report
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