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Top 15 B2B Startup Investors in Belgium (October 2026)

The most active venture capital funds and angel investors investing in Belgium B2B startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium B2B startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Limburgse Reconversie Maatschappij
VC Fund
5 Belgium, The Netherlands, United States Seed, Venture - Series Unknown Information Technology, Software, Biotechnology $658k–$11M
SmartFin
VC Fund
4 Belgium, The Netherlands, Turkey Series A, Series B, Seed Software, SaaS, Information Technology $549k–$35M
Axeleo Capital
VC Fund
3 France, United Kingdom, Germany Seed, Series A, Pre-Seed Software, Information Technology, SaaS $857k–$21M
LeanSquare
VC Fund
2 Belgium, France, United States Seed, Venture - Series Unknown, Series A Software, Music, Information Technology $257k–$19M
PMV
VC Fund
1 Belgium, United States, The Netherlands Seed, Series A, Series B Software, Biotechnology, Health Care $1M–$43M
Entourage
VC Fund
1 Belgium, Italy, United States Pre-Seed, Seed, Series A Information Technology, Software, Artificial Intelligence $1.7M–$19M
Axio Capital
VC Fund
1 France, Belgium, United Kingdom Venture - Series Unknown, Series B, Private Equity Information Technology, B2B, Retail $2.4M–$12M
Newion
VC Fund
1 The Netherlands, Belgium, Germany Series A, Seed, Series B Software, SaaS, Information Technology $1.1M–$66M
Jean Vliegen
Angel
1 Belgium Seed, Pre-Seed Information Technology, Internet, B2B $219k–$241k
Sherpa Invest
VC Fund
1 Belgium, China Seed, Series A, Series B SaaS, Software, B2B
Industrya
VC Fund
1 France, Belgium Seed, Series A, Venture - Series Unknown Industrial, Manufacturing, Logistics $946k–$6.7M
Andreas Spechtler
Angel
1 Belgium Venture - Series Unknown B2B, Music, Artificial Intelligence
Hi Inov - Dentressangle
VC Fund
1 France, Germany, Belgium Series A, Series B, Seed SaaS, Software, Information Technology $2M–$12M
Finance.Brussels
VC Fund
1 Belgium, France Seed, Series A, Venture - Series Unknown Software, Information Technology, SaaS $1.5M–$16M
Willem Delbare
Angel
1 Belgium, France, United States Seed, Pre-Seed, Series A Artificial Intelligence, Software, CRM $407k–$6M
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Investor list

Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 5 investments in Belgium B2B startups

Oxygen for growth - LRM

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Investment focus

  • Industry: Information Technology, Software, Biotechnology
  • Stage:Seed, Venture - Series Unknown
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 98
  • Round size: Seed $658k–$5.2M; Venture - Series Unknown $1.4M–$11M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Monsana — Monsana's AI-powered platform empowers both patients and healthcare professionals in their search for the perfect clinical trial. Each eligibility criterion is validated based on your unstructured textual medical records, allowing highly accurate matching with experimental treatments.
  • ADLC — ADLC employs drone technology to deliver logistics services, allowing businesses to implement drone-based solutions without having to manage them in-house. The company is focused on enhancing last-mile delivery in maritime and offshore environments. ADLC now conducts drone delivery services in the Port of Antwerp in collaboration with SGS, atesting and certification company, and works with companies such as BASF. Its drones have reduced delivery times and environmental effect, boosting efficiency sixfold and lowering CO2 emissions by up to 80% for petrochemical sample deliveries.
  • Optiflux — Optiflux automatiseert het bewaarbeheer van vers fruit met slimme AI & vision-technologie. Minder verlies, meer winst voor teler & handelaar.
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SmartFin
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 4 investments in Belgium B2B startups

Venture capital fund focussing on European B2B technology companies.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, The Netherlands, Turkey

Investor stats

  • Total investments: 65
  • Round size: Seed $549k–$6.7M; Series A $5M–$13M; Series B $3M–$35M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely actively investing — fresh fund, raised $257M in 2025

Portfolio highlights

  • Auditstage — The first AI-powered workspace for financial auditors. Automate manual workflows, draft working papers, and scale your firm with human-in-the-loop AI agents.
  • Marble — Marble is the first open source transaction monitoring. We automate detection and investigations with unparalleled flexibility and simplicity to allow tech teams to build on top of Marble, while removing manual compliance checks. Built for real-time and scalability, Marble protects against fraud and money laundering leading financial institutions in the EU, UK and over 15 geographies.
  • Hadrian — Hadrian’s digital security model focuses on automated event-based scanning. The company's approach maps vulnerabilities in an organization's entire attack surface infrastructure, and provides the critical insights to fortify them. Hadrian is developed by a team of hackers, their approach to digital security allows for continuoussecurity validation, running tests on 1000s of digital assets.Hadrian was established in 2021 by Maurice Clin and Rogier Fischer in Amsterdamnm Noord-Holland.
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Axeleo Capital
VC Fund · Paris, Ile-de-France, France · 3 investments in Belgium B2B startups

AXC is a European Venture Capital Fund, supported by a large community of tech entrepreneurs. We back startups from pre-seed / seed.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: France, United Kingdom, Germany

Investor stats

  • Total investments: 117
  • Round size: Seed $1.3M–$10M; Pre-Seed $857k–$3.2M; Series A $4.3M–$21M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — raised $134M in 2024

Portfolio highlights

  • Wavo — Wavo provides debt-free inventory financing for SMEs, allowing them to grow without cash constraints.Unlike traditional financing, Wavo purchases inventory upfront, so businesses don’t have to immobilize cash or take on debt. Repayments are directly tied to sales, ensuring flexibility and preserving financial capacity. The solution is accessibleto fast-growing businesses, as it does not require balance sheet analysis or financial ratios.With Wavo, SMEs can seize new opportunities, optimize working capital, and scale faster—without financial constraints.
  • Actionable — AI-powered decision engine that predicts customer behaviour and explains what drives your KPIs. Turn raw data into actionable decisions in minutes.
  • DataHawk Technologies — DataHawk software platform provides eCommerce analytics tools for sellers and vendors to increase sales, optimize margins, gain insights, and boost productivity.
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LeanSquare
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium B2B startups

New Economy Startups Investor & Accelerator

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Investment focus

  • Industry: Software, Music, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 48
  • Round size: Seed $376k–$2.4M; Series A $257k–$12M; Venture - Series Unknown $830k–$19M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Gamevestor — Be more than a player. Invest in expert-selected video game projects and earn a share of their commercial revenues.
  • Tickets for Good — Tickets for Good is a ticketing platform for live events and entertainment.
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PMV
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium B2B startups, 9 in the past 12 months

Do and dare company

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, United States, The Netherlands

Investor stats

  • Total investments: 161
  • Round size: Seed $1M–$4.1M; Series A $3M–$40M; Series B $6.6M–$43M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Logibot — Logibot is a European, software-first, hardware-agnostic AI platform that enables logistics and industrial operators to simulate, deploy, and operate human-like robotic labor inside existing intralogistics facilities, without vendor lock-in and without rebuilding the warehouse. Most warehouse automation projects fail because they assume greenfield sites or commit operators to one robot vendor. Logibot takes a different approach. Operators start with Logibot.Data to quantify manual work and score automation feasibility. Logibot.Simulate runs split tests on multiple robot configurations in digital simulation, before any hardware decision is made. Logibot.Train prepares a general vision-language model for specific logistics tasks in five stages. Logibot.Control stages the introduction of robotic labor into live operations. Logibot.Watch provides real-time monitoring, teleoperation, and continuous improvement. Logibot serves 3PLs, CEP operators, postal operators, and industrial logistics teams. Headquartered in Belgium, operating across the EU. NVIDIA Inception member. Beam Berlin portfolio company.
  • Borro — Cashless deposit system
  • SpectaCell — SpectaCell is a Belgian life sciences and biotechnology company that develops next-generation cell therapy analytics.Spun out of a collaborative research effort between imec, VIB, and Ghent University (UGent),
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Entourage
VC Fund · Belgium, Wisconsin, United States · 1 investments in Belgium B2B startups, 11 in the past 12 months

Entourage is a venture Studio and early stage VC that invests in early-stage B2B and SaaS sectors.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Belgium, Italy, United States

Investor stats

  • Total investments: 21
  • Round size: Seed $2.2M–$11M; Pre-Seed $1.7M–$3.5M; Series A $7.5M–$19M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $33M in 2024

Portfolio highlights

  • Chift — Offer native integrations within your software. Your clients connect your software to their tools in one click. Connect easily to Accounting, POS, Invoicing, e-commerce, etc.
  • JustSolve — JustSolve is an agentic debt collection team that allows organizations to recover more, spending less.
  • Sightera Biosciences — Patient-derived organoids of treatment-resistant disease, robotic screening at scale and AI-guided molecular design in one closed loop.
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Axio Capital
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium B2B startups

Axio Capital implements tailor-made solutions that qualify the stakes and build the operation. Axio Capital ensures the financial engineering, manage the implementation and invest in the operation.

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Investment focus

  • Industry: Information Technology, B2B, Retail
  • Stage:Venture - Series Unknown, Series B, Private Equity
  • Geography: France, Belgium, United Kingdom

Investor stats

  • Total investments: 5
  • Round size: Venture - Series Unknown $2.4M–$12M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • ID5 — ID5 provides a comprehensive suite of identification services designed to improve to improve addressability and measurement across all environments
  • Agenium — Agenium offers career perspectives in an international and tech environment. They offer this through the specific expertise of their business units. They offer solutions to the business and of the defense, industry, and space sectors.
  • GD France — GD France operates as a distribution and operational platform for apparel brands, particularly Gérard Darel and Pablo. The company focuses on the ready-to-wear and accessible luxury segments, covering womenswear, leather goods, footwear, and fashion accessories. Gd Distribution manages logistics, wholesale channels, and retail distribution networksthat connect brand production with end consumers. Its activities span supply chain coordination from concept and manufacturing through inventory management and delivery. The company supports brick-and-mortar boutiques, flagship stores, and e-commerce operations for its associated labels. Gd Distribution aligns its operations with fashion seasonality to ensure product availability and consistent brand presentation across sales channels.
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Newion
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 1 investments in Belgium B2B startups, 7 in the past 12 months

Experienced over decades, focused on the next ones. Close to our founders, not above them. Serious about building companies. Human in how we invest.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: The Netherlands, Belgium, Germany

Investor stats

  • Total investments: 87
  • Round size: Seed $1.2M–$6.5M; Series A $1.1M–$10M; Series B $5.4M–$66M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — raised $129M in 2022

Portfolio highlights

  • Nopan — We help large merchants, fintechs, and PSPs turn account and wallet payment methods into measurable revenue drivers.
  • Lightbringer — Experience the future of patent services with Lightbringer. Our AI-driven platform accelerates your patent process, ensuring efficiency and expertise from world-class patent attorneys.
  • BirdsView — BirdsView is to 'assist small e-commerce firms in transforming their own consumer data into effective, tailored marketing tactics and turning one-time purchases into devoted patrons.
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Jean Vliegen
Angel · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium B2B startups

Jean-Marie Vliegen.

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Investment focus

  • Industry: Information Technology, Internet, B2B
  • Stage:Seed, Pre-Seed
  • Geography: Belgium

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $219k–$241k
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Ceeyu — Ceeyu's SaaS platform vulnerabilities for your company and your supply chain (Third Party Risk Management or TPRM) by combining automated scans (ASM) with online questionnaire-based risk assessments.
  • Kwarts — Empower your commercial and medical teams to better respond to customer needs. A-Inside brings actionable insights into your CRM and marketing automation tools.
  • Ambassify — Ambassify enables you to manage and measure your employee engagement efforts. Start making a real connection with your workforce.
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Sherpa Invest
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium B2B startups

Sherpa Invest is active in all economic sectors and concentrates on Belgian-based companies that show strong growth potential — and a competitive advantage.

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Investment focus

  • Industry: SaaS, Software, B2B
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, China

Investor stats

  • Total investments: 5
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • MAXVAX — MAXVAX aims to provide novel vaccine development and commercialization.
  • Virteo NV — VIRTEO’s platform covers the internal dunning and all external (amical/judicial) debt collection processes. With VIRTEO, creditors reduce costs, improve results and enforce CSR policy with external partners like lawyers and bailiffs. VIRTEO helps achieve economic goals (getting paid) with socially responsible practices (avoiding malpracticesand excessive costs to debtors).VIRTEO is an online platform allowing credit managers to work directly with lawyers, court bailiffs and recovery agencies in an efficient, transparent and compliant process. The debt collection industry rarely has a positive image. Customers lack tools to monitor and control the practices used by their external collection partners and the goal (recovering the unpaid invoice) is often in contradiction with a socially responsible approach. VIRTEO empowers creditors with a better process and results, and also provides better control over the practices used by their external partners. We provide the customer with the tools and insights to enforce and monitor their CSR policy, while improving results and reducing costs at the same time. Virteo - Where financial fitness meets ethics
  • Sky-Hero — Sky-Hero designs and manufactures tactical devices, mainly multicopters, for surveillance and security. Its products became worldwide icons of today’s drones made with the best aeronautical materials - allowing polyvalence and strength. Always pushing the limit of new breakthroughs, new alloys,…and state-of-the art components, Sky-Hero philosophyis creating devices made to resist, perform and evolve according to the user’s needs.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Industrya
VC Fund · Seraing, Liege, Belgium · 1 investments in Belgium B2B startups

We are a hands-on investment fund that operates exclusively in the Industry 4.0, energy and new materials sectors. Industrya is an initiative of the John Cockerill industrial group, which joins together the investment funds of SFPI-FPIM, SRIW-WING, NOSHAQ and LRM.

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Investment focus

  • Industry: Industrial, Manufacturing, Logistics
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: France, Belgium

Investor stats

  • Total investments: 13
  • Round size: Seed $1M–$4.2M; Series A $3.2M–$6.7M; Venture - Series Unknown $946k–$4M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Aloxy — Aloxy offers reliable IIot solutions tailored to the needs of the process industry. Our valve sensor provides an open and close indication of manual valves.
  • PureNat — PureNat is a deep-tech economy company that has developed a brand new patented biomimetic material for the purification of air and sustainable air pollution control solutions.
  • Get Your Way — Discover the future of assisted reality with Get Your Way's aRdent smart glasses. Perfect for SMEs looking for innovative solutions to improve their business
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Andreas Spechtler
Angel · San Francisco, California, United States · 1 investments in Belgium B2B startups

Andreas Spechtler is based out of Leiden, Zuid-Holland and is the Board of Directors of Whispp. Andreas previously worked at NativeWaves as an Chief Operating Officer. Andreas Spechtler attended the University of Salzburg.

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Investment focus

  • Industry: B2B, Music, Artificial Intelligence
  • Stage:Venture - Series Unknown
  • Geography: Belgium

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Musimap — Musimap helps you to play the right music / promote the right artist or album / insert the right advertisement / promote the right product or brand to the right audience!
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Hi Inov - Dentressangle
VC Fund · Lyon, Rhone-Alpes, France · 1 investments in Belgium B2B startups

Hi inov is a European B2B venture capital fund investing in software and digital companies from Paris, Lyon and Munich.

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Investment focus

  • Industry: SaaS, Software, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: France, Germany, Belgium

Investor stats

  • Total investments: 63
  • Round size: Seed $2M–$5.9M; Series A $3.3M–$11M; Series B $3.3M–$12M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $46M in 2018

Portfolio highlights

  • Covalo — Covalo™ is disrupting how formulation-driven products are developed in the 3 trillion euro consumer goods industry so brands can reduce time to market by scouting ingredients and packaging, collaborating on projects, and purchasing -- all from one place. . Today it's one of the largest beauty ingredient search platforms that connects beautybrands with suppliers of ingredients, packaging, and services such as contract manufacturing, formulation, regulatory, compliance and testing. It also arms suppliers with the tools and real-time industry insights needed to effectively market products. Covalo launched in 2021 and is based in Switzerland.
  • MyC — Reduce and better manage health-related risks with MyC.
  • Actionable — AI-powered decision engine that predicts customer behaviour and explains what drives your KPIs. Turn raw data into actionable decisions in minutes.
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Finance.Brussels
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium B2B startups

Regional Investment Company of Brussels

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, France

Investor stats

  • Total investments: 26
  • Round size: Seed $1.5M–$5.4M; Series A $2.3M–$7M; Venture - Series Unknown $4.2M–$16M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • AI-Blox — A modular & flexible hardware and software platform for edge AI applications.
  • Otamiser — Otamiser Booster® is an automated solution that helps hoteliers and revenue managers secure bookings by improving a property's online presence on major OTAs such as Booking.com, Expedia, Trips.com, Kayak, Airbnb, and VRBO. It maximizes occupancy rates and revenue through optimizing 951 essential parameters, ensuring continuous optimization,full automation, seamless integration with CMS, PMS, and RMS systems, dedicated customer support, integrations with Cubilis and Hostaway, and a customized API for Revenue Management software.
  • AILOS Robotics — AILOS Robotics offers advanced solutions in robotics and automation for various industries.
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Willem Delbare
Angel · Gent, Oost-Vlaanderen, Belgium · 1 investments in Belgium B2B startups

Willem Delbare is the Co-founder at Officient. He attended Ghent University.

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Investment focus

  • Industry: Artificial Intelligence, Software, CRM
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 8
  • Round size: Seed $407k–$6M; Pre-Seed $1.3M–$1.6M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Holmes — Agentic QA for web apps, mobile apps, and APIs. Automated regression testing, exploratory feature testing, persona and accessibility testing, and plain-language change summaries.
  • Belfort — Belfort makes encrypted compute real by accelerating it to practical performance
  • Prelude — Prelude unifies device, network, and signup signals into one onboarding decision, helping you build trust while protecting conversion and cost efficiency.
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B2B Investor funding in Belgium at a glance

Stats across 19 deals from 32 investors.

32
investors
in Belgium B2B startups
19
deals
in Belgium B2B startups
$1M
median round
in Belgium B2B startups
31%
lead investors
lead at least one round
42%
Seed
most common funding stage
81/19
VC / Angel
share of investor count

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