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Top 50 Energy Startup Investors in Belgium (June 2026)

The most active venture capital funds and angel investors investing in Belgium Energy startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium Energy 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
6 Belgium, United States, The Netherlands Seed, Series A Information Technology, Software, Biotechnology $494k–$11M
Innovation Fund
VC Fund
5 Belgium, France, Luxembourg Seed, Series A Health Care, Manufacturing, Information Technology $329k–$5.8M
Gemma Frisius Fund
VC Fund
4 Belgium, France, United Kingdom Seed, Series B, Series A Biotechnology, Health Care, Medical $384k–$84M
PMV
VC Fund
4 Belgium, United States, The Netherlands Series A, Seed Software, Biotechnology, Health Care $549k–$40M
S.R.I.W.
VC Fund
3 Belgium, United States, Spain Series A, Series B Health Care, Biotechnology, Manufacturing $411k–$75M
Gimv
VC Fund
3 Belgium, United States, France Series B, Series A Biotechnology, Health Care, Medical $3.3M–$69M
Nuhma
VC Fund
3 Belgium Seed, Series A Battery, Software, GreenTech
Seeder Fund
VC Fund
3 Belgium, Luxembourg, France Seed, Pre-Seed, Series A Software, Information Technology, SaaS $219k–$8M
The Faktory Fund
VC Fund
3 Belgium, France, United States Seed, Pre-Seed Software, Analytics, Information Technology $1.1M–$4.4M
Qbic Fund
VC Fund
3 Belgium, The Netherlands Seed, Series A Biotechnology, Software, Health Care $868k–$47M
Partech
VC Fund
2 United States, France, Germany Series A, Seed, Series B Software, E-Commerce, SaaS $1.1M–$55M
Finance.Brussels
VC Fund
2 Belgium, France Seed, Series A Software, Financial Services, Information Technology $1.5M–$7M
Korys
VC Fund
2 Belgium, The Netherlands, Germany Series B, Series A Biotechnology, Renewable Energy, Information Technology $3.9M–$110M
Elia Group
VC Fund
2 Belgium, Germany, Macedonia Seed, Series A, Private Equity Energy, Solar, Software $3.8M–$4.4M
Flanders Innovation and Entrepreneurship (VLAIO)
VC Fund
2 Belgium, Israel, Germany Grant, Pre-Seed, Seed Biotechnology, Health Care, Software $200k–$3.2M
Noshaq
VC Fund
2 France, Belgium, United States Seed, Pre-Seed Medical Device, Manufacturing, Battery $1M–$43M
ABB Ventures
VC Fund
2 United States, United Kingdom, Canada Series B, Series A Software, Energy, Robotics $3M–$60M
WE International
VC Fund
2 Belgium, United States, France Series A, Seed Health Care, Biotechnology, Energy $10M–$57M
Big Bang Ventures
VC Fund
2 Belgium, The Netherlands, United States Series A, Series B Software, Cloud Computing, Apps $1M–$9M
LeanSquare
VC Fund
2 Belgium, France, United States Seed, Series A Software, Music, Information Technology $200k–$12M
Meusinvest (Noshaq)
VC Fund
2 Belgium, France, Germany Series A, Seed Biotechnology, Health Care, Medical $137k–$16M
Chroma Impact Investment
VC Fund
1 Belgium Series A Drones, Software, Aerospace
Spri
VC Fund
1 Spain Seed Real Time, Automotive, Clean Energy
Loic Bar
Angel
1 Belgium Pre-Seed Battery, Electric Vehicle, Charging Infrastructure
Entourage
VC Fund
1 Belgium Seed B2B, Analytics
Wallonie Entreprendre
VC Fund
1 Belgium, France Series A, Seed Biotechnology, Recycling, Health Care
Andera Partners
VC Fund
1 France, United States, Germany Series B, Private Equity Biotechnology, Health Care, Medical
PDENH
VC Fund
1 The Netherlands, Belgium Seed, Series A Energy, Manufacturing, Renewable Energy
Ontario Inc
VC Fund
1 Belgium Pre-Seed Energy, Banking, Security
KBC Focus Fund
VC Fund
1 Belgium, The Netherlands, Luxembourg Seed, Series A Electronics, Semiconductor, Manufacturing
General Motors Ventures
VC Fund
1 United States, Canada, Israel Series A, Series C Automotive, Software, Energy $6.6M–$99M
AFI Ventures
VC Fund
1 France, Belgium, Germany Seed, Pre-Seed, Series A Environmental Consulting, GreenTech, Health Care
LRM
VC Fund
1 Belgium, The Netherlands Seed Manufacturing, Drones, Sensor
Seed Capital Bizkaia
VC Fund
1 Spain, Mexico, Belgium Seed, Series A Software, Biotechnology, Manufacturing
Lune Ventures
VC Fund
1 Belgium Pre-Seed CleanTech, Manufacturing, Renewable Energy
Apic Investments
VC Fund
1 Germany, Austria, Belgium Series A, Seed Real Estate, Software, Internet of Things
H&M Foundation - Global Change Award
VC Fund
1 Belgium Pre-Seed Fashion, CleanTech, GreenTech
Alychlo
VC Fund
1 Belgium, United States Series D, Series E CRM, Energy, Medical
Stefan Grosjean
Angel
1 Belgium Series A, Seed Energy, Internet, Software $2.3M–$2.7M
QBIC II
VC Fund
1 Belgium Series B, Series A Biotechnology, Industrial, Construction $20M–$64M
FPIM
VC Fund
1 Belgium Seed, Series B Manufacturing, Battery, Industrial
AXE Investments N.V.
VC Fund
1 Belgium Energy, Recycling, Clean Energy
Airborn
VC Fund
1 Belgium, United States Pre-Seed Software, CleanTech, GreenTech $768k–$1.1M
Ark Angels Activator Fund
VC Fund
1 Belgium Series A, Seed Software, Information Technology, SaaS $932k–$7.4M
PMV Tina Fund
VC Fund
1 Belgium, Switzerland, The Netherlands Series A, Series D, Series E Manufacturing, Eyewear, Printing
imec.xpand
VC Fund
1 Belgium, United States, Germany Seed, Series A, Series B Semiconductor, Manufacturing, Medical Device $3.3M–$100M
Capricorn Partners
VC Fund
1 Belgium, United States, The Netherlands Series A, Series B Biotechnology, Software, Health Care $3.3M–$42M
Innogy Venture Capital
VC Fund
1 Germany, Sweden, United States Series A, Series B Energy, CleanTech, Renewable Energy $2.5M–$7.7M
Lean FUND
VC Fund
1 Belgium, United States, France Seed, Series B Internet, Apps, Software $66k–$384k
WING by Digital Wallonia
VC Fund
1 Belgium Seed, Convertible Note, Series A Software, Health Care, SaaS $219k–$11M
Access all 145 investors in Belgium Energy startups.

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

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Investor list

Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 6 investments in Belgium Energy startups

Oxygen for growth - LRM

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Investment focus

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

Investor stats

  • Total investments: 87
  • Round size: Seed $494k–$5.2M; Series A $1.6M–$11M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • 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.
  • MobieTrain — Train, connect and empower your frontline teams in minutes. MobieTrain boosts onboarding, training, engagement, and performance. All in one simple platform
  • TrendMiner — TrendMinder designs and delivers a fast, powerful and intuitive industrial analytics platform for everyone in operations to make smarter, data-driven decisions.
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Innovation Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 5 investments in Belgium Energy startups

Chemical, Advanced Materials, Cosmetics, Recycling, CleanTech, Plastics and Rubber Manufacturing, Nanotechnology, Biosciences

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Investment focus

  • Industry: Health Care, Manufacturing, Information Technology
  • Stage:Seed, Series A
  • Geography: Belgium, France, Luxembourg

Investor stats

  • Total investments: 30
  • Round size: Seed $329k–$5.8M; Series A $2.2M–$5.7M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Aerosint — Aerosint invented a technology called "Selective Powder Deposition" which deposits multiple powders in each layer. This unlocks multi-material 3D printing.
  • Daphne Technology — Measure and abate methane slip with Daphne Technology. Learn how we reduce emissions in gas engine exhaust. Contact us today!
  • Zeopore Technologies — Zeopore Technologies innovates zeolite mesoporization to optimize catalysts that enhance processes in refining and petrochemical industries. This leads to higher quality products, lower energy use and less waste, using an approach that is affordable, easily scalable and non-hazardous.
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Gemma Frisius Fund
VC Fund · Leuven, Vlaams-Brabant, Belgium · 4 investments in Belgium Energy startups

Gemma Frisius Fund KU Leuven is a seed capital fund that aims to stimulate the creation and growth of university related spin-off companies.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Seed, Series B, Series A
  • Geography: Belgium, France, United Kingdom

Investor stats

  • Total investments: 35
  • Round size: Seed $384k–$33M; Series A $932k–$84M; Series B $4.4M–$24M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Aspect Analytics — Aspect Analytics offers consultancy services, home-grown software, development of workflows, and customization of software.
  • Magics Technologies — Magics Technologies is a nuclear research center that develops autonomous machines for sustainable energy sources.
  • Augustine Therapeutics — Augustine Therapeutics is developing selective, safe and efficacious HDAC6 inhibitors designed for treatment of neuromuscular, neurodegenerative and cardiometabolic diseases. Discover our pipeline poised for clinical impact.
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PMV
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 4 investments in Belgium Energy startups

Do and dare company

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Investment focus

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

Investor stats

  • Total investments: 147
  • Round size: Seed $549k–$4.3M; Series A $2.7M–$40M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Sentea — Sentea makes fibre optic Sensing affordable to the industry and enables continuous monitoring even in harsh environments.
  • RheaVita — Streamline your lyophilization process with RheaVita's innovative freeze-drying technologies, accelerating drug development while ensuring compliance and efficiency. Discover our solutions today.
  • Gorilla — We empower Energy Retailers in pricing, forecasting and reporting with data-driven solutions in boosting speed and flexibility.
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S.R.I.W.
VC Fund · Liège, Liege, Belgium · 3 investments in Belgium Energy startups

The S.R.I.W. Group is an institution at the heart of the financial market that assists entrepreneurs in creating and developing businesses in the Walloon region. It reflects the effort of Wallonian industry in facing the challenges of the creation of economic value in the 21st century. Since its creation in 1979, the Société Régionaled’Investissement de Wallonie has continuously been expanding its abilities to adapt and anticipate as well as its flexibility in order to meet the requirements of its partners who are confronted with the evolution of the world economy. The principles of good governance, a strong business culture and shared values at the heart of the Group constitute important assets to capture the changing realities of the market and progress in a sustainable development perspective.

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Investment focus

  • Industry: Health Care, Biotechnology, Manufacturing
  • Stage:Series A, Series B
  • Geography: Belgium, United States, Spain

Investor stats

  • Total investments: 111
  • Round size: Series A $411k–$31M; Series B $1.6M–$75M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Intressa Vascular — Intressa Vascular provides innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection.
  • Minoryx Therapeutics — Minoryx is focused on the discovery and development of novel treatments for severe, orphan diseases of the central nervous system with high unmet medical need.
  • Santero Therapeutics — This is the homepage of the website
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Gimv
VC Fund · Antwerpen, Antwerpen, Belgium · 3 investments in Belgium Energy startups

Gimv, a trusted European investment company, helps mid-market businesses create sustainable value through growth capital and expertise across diverse sectors.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series B, Series A
  • Geography: Belgium, United States, France

Investor stats

  • Total investments: 166
  • Round size: Series A $3.3M–$65M; Series B $7M–$69M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $622M in 2010

Portfolio highlights

  • spineart — Spineart is a privately held medical device company focused on simplifying the surgical act by designing, developing and promoting safe and efficient solutions to spine surgeons, operating room teams, and patients.
  • Marco Vasco — MarcoVasco, (previously known as PlanetVeo) is an online travel agency specialised in organising tailor-made journeys.Founded in 2007 by 3 French entrepreneurs, Marco Vasco quickly became a leader on the online custom holidays market.The company is based in Paris (France) with an office as well in Shanghai (China).The company is profitablesince 2010 and our revenues have grown rapidly from 1 million euros in 2008 to 60 million euros in 2013 (organic growth).
  • ImCheck Therapeutics — ImCheck Therapeutics is a developer of immuno-modulatory antibodies designed for the treatment of cancer and other immune-related diseases. The company's services are engaged in the discovery and development of immunomodulators for treating breast cancer, gastric, ovarian cancer cells and other solid solid tumours.
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Nuhma
VC Fund · 3 investments in Belgium Energy startups

Namens de Limburgse gemeenten en Laakdal werken we aan duurzaamheid, energie en innovatie via gerichte participaties

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Investment focus

  • Industry: Battery, Software, GreenTech
  • Stage:Seed, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Solithor — Solithor is a company developing solid-state battery technology. It is spearheading the development, manufacturing, and commercialization of solid-state lithium (Li) battery cell technology to offer high-energy storage solutions.
  • Enervalis — Enervalis develops software that provides sustainable energy solutions for electric vehicles, buildings, and microgrids. The platform monitors available energy sources and users, and can predict future demand and supply of energy through ]weather forecasting, input from users, AI, and big data. Using this information it then distributes the energyto meet the needs of users.
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Seeder Fund
VC Fund · Anderlecht, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Energy startups

Seeder Fund is an early-stage financing and growth capital for digital startups. For young start-ups with a start in commercial traction it offers seed funding of up to EUR 200,000 to validate their value proposition and product-market fit. For start-ups preparing for Series A it provides funding of up to EUR 300,000 to confirm the growth potentialand move closer to break-even. For scale-ups, the Seeder Fund can also help finance the company's growth, this time in the form of a capital stake of up to 1,000,000 EUR.

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Investment focus

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

Investor stats

  • Total investments: 33
  • Round size: Seed $384k–$2.5M; Pre-Seed $219k–$2.4M; Series A $3.3M–$8M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • CrypDefi — Unified custody and compliance for institutional digital finance.
  • Alice — Reimagining the legal drafting process with AI, allowing lawyers to concentrate on strategic decisions and achieve better legal outcomes.
  • Vectrix — Vectrix offers AI-based automation and consulting solutions for businesses and logistics companies to automate workflows.
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The Faktory Fund
VC Fund · Liège, Liege, Belgium · 3 investments in Belgium Energy startups

The Faktory is a hub for business ideas based on any disruptive technology with a high potential in international niche markets: ICT, Health, Environment, Media, Broadcast and more.

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Investment focus

  • Industry: Software, Analytics, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 21
  • Round size: Seed $1.1M–$4.4M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • IVEX — IVEX offers Repeatable and Scalable Testing & Validation Data Analytics solutions for ADAS/AD Vehicles.
  • xyzt.ai — xyzt.ai is a SaaS platform for ANALYTICS, REPORTING and VISUALIZATION of big location data in the Maritime & Ports, Smart City and Logistics industries. EASY & EFFORTLESS
  • MyCellHub — MyCellHub.com is a pre-startup from the KULeuven in the biotherapeutics industry that aspires to reform the way cell production processes are organised. With a regulatory compliant Saas-platform for data management and analytics, we increase the efficiency of your manufacturing processes, provide actionable insights via cell culture specificprocess analytics and facilitate regulatory compliance by means of a real-time audit trail and automated batch records.
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Qbic Fund
VC Fund · Belgium, Wisconsin, United States · 3 investments in Belgium Energy startups

The Qbic Fund is a multi-sector fund supporting spin-off companies of the Ghent, Brussels and Antwerp university associations and of VITO. Through its strategic partnership with the universities of Ghent, Brussels and Antwerp, and VITO, the Qbic Fund has early and privileged access to promising research projects at these partner universities. Ourinvestment approach is based on early in-depth and independent review and analysis followed by hands on involvement and support.In May 2012 the Qbic Fund held its first close and currently it has over € 30 million under management. The Qbic Fund is backed by several public and private investors and managed by Qbic Venture Partners.

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Investment focus

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

Investor stats

  • Total investments: 54
  • Round size: Seed $1.1M–$11M; Series A $868k–$47M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — raised $57M in 2022

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.
  • Flindr Therapeutics — Immagene develops personalized cancer immunotherapies to fight multiple cancer type.
  • Blue Foot Membranes — Blue Foot Membranes delivers unbreakable MBR membranes for wastewater treatment. Reliable water reuse, high capacity and low total cost of ownership.
Show all investments...

Access 48,091 investors

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

Browse database — It's Free!
Partech
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Energy startups

Partech is a global venture capital firm with offices in San Francisco, Paris, Berlin and Dakar. Partech invests in Internet and information technology startups at seed, venture and growth stages.

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Investment focus

  • Industry: Software, E-Commerce, SaaS
  • Stage:Series A, Seed, Series B
  • Geography: United States, France, Germany

Investor stats

  • Total investments: 525
  • Round size: Seed $1.1M–$9M; Series A $4.2M–$30M; Series B $9M–$55M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Yampa — Discover yampa's autonomous AI agents and revolutionize your customer experience. Elevate your service with the most advanced AI technology.
  • Privitar — Informatica is an Enterprise Cloud Data Management leader that brings data to life by empowering businesses to realize the transformative power of their most critical assets.
  • Jaspersoft — Enterprise reporting platform for delivering pixel perfect reports. Build custom reports and dashboards in minutes.
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Finance.Brussels
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Energy startups

Regional Investment Company of Brussels

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Investment focus

  • Industry: Software, Financial Services, Information Technology
  • Stage:Seed, Series A
  • Geography: Belgium, France

Investor stats

  • Total investments: 23
  • Round size: Seed $1.5M–$5.5M; Series A $2.3M–$7M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Wooclap — Engage your audience with Wooclap's free interactive presentation tool. Create dynamic and engaging presentations that keep your audience hooked.
  • AILOS Robotics
  • Axiles Bionics — Axiles Bionics aims to improve the quality of life of amputees with revolutionary technologies. Discover the LUNARIS, our brand new ankle-foot prosthesis.
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Korys
VC Fund · Halle, Vlaams-Brabant, Belgium · 2 investments in Belgium Energy startups

Korys is the name chosen by the Colruyt family for their investment structure. The name Korys is derived from the Latin word for hazelnut tree – Corylus - which is at the origin of the Colruyt name.Their multi-disciplinary approach enables us to create a well-balanced, diversified portfolio of listed stocks and bonds, private equity funds, anddirect participations in small and medium-sized companies. Through their investments, they aim to make a positive impact on people and the planet, while generating attractive returns. A “three P” approach (People, Planet, Profit) forms the cornerstone of their investment strategy. They invest for the long term, as they realize that it takes time to achieve the sustainable impact they are aiming for. They focus their investments in sectors in which they have built substantial expertise as a team: Cleantech, consumer goods & retail and life sciences.

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Investment focus

  • Industry: Biotechnology, Renewable Energy, Information Technology
  • Stage:Series B, Series A
  • Geography: Belgium, The Netherlands, Germany

Investor stats

  • Total investments: 44
  • Round size: Series A $3.9M–$110M; Series B $6.4M–$41M
  • Lead/follow: 48% lead, 52% follow

Portfolio highlights

  • Trunkrs — Wij leveren pakketten tussen 17:00 & 22:00, Sneller, groener en vriendelijker. Same Day & Next Day bezorging door heel Nederland en Vlaanderen.
  • Ampacimon — Ampacimon develops dynamic line rating systems for transmission and distribution systems operators. Ampacimon’s products address grid infrastructure challenges such as aging assets, transmissions congestion, renewable integration, interconnectors.
  • Commit Biologics — Add a description for facebook
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Elia Group
VC Fund · Brunelles, Centre, France · 2 investments in Belgium Energy startups

With a reliability level of 99.999 percent, Elia Group provides society with a robust electricity grid. We operate an electricity transmission system with voltage levels between 30 and 400 kilovolt (kV), and 50Hertz transports electricity over high-voltage levels of 150, 220 and 380 kilovolts (kV).

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Investment focus

  • Industry: Energy, Solar, Software
  • Stage:Seed, Series A, Private Equity
  • Geography: Belgium, Germany, Macedonia

Investor stats

  • Total investments: 4
  • Round size: Seed $3.8M–$4.4M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Enervalis — Enervalis develops software that provides sustainable energy solutions for electric vehicles, buildings, and microgrids. The platform monitors available energy sources and users, and can predict future demand and supply of energy through ]weather forecasting, input from users, AI, and big data. Using this information it then distributes the energyto meet the needs of users.
  • re.alto energy — We ensure security of supply, serve our customers and protect the safety of our personnel and subcontractors. Discover how.
  • AE Solar Horizon — AE Solar Horizon operates as a manufacture of solar PV panels.
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Flanders Innovation and Entrepreneurship (VLAIO)
VC Fund · Brussel, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Energy startups

Basic and applied research fund of the Flemish regional government in Belgium

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Grant, Pre-Seed, Seed
  • Geography: Belgium, Israel, Germany

Investor stats

  • Total investments: 36
  • Round size: Seed $517k–$1.9M; Grant $261k–$3.2M; Pre-Seed $200k–$2M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • WeHave — Enter the cookieless era of advertising with WeHave's first-party data collaboration. Leverage external data in a gdpr compliant way.
  • Summ.link — Summ.link works to transform enterprises by enhancing the employee experience through strategy and strong insights based on trustworthy data, which leads to improvements in digital processes. By putting a strong emphasis on data intelligence and people analytics, it seeks to provide everyone in the organization with actionable information.Application development, big data, AI, cloud solutions, and other services are among their offerings.
  • Gorilla — We empower Energy Retailers in pricing, forecasting and reporting with data-driven solutions in boosting speed and flexibility.
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Noshaq
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium Energy startups

The province's economic redistribution and development are facilitated by the Noshaq group.

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Investment focus

  • Industry: Medical Device, Manufacturing, Battery
  • Stage:Seed, Pre-Seed
  • Geography: France, Belgium, United States

Investor stats

  • Total investments: 10
  • Round size: Seed $7M–$43M; Pre-Seed $1M–$2.4M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Lisaqua — Lisaqua is developing a unique aquaculture process to raise prawns without antibiotics and without polluting waste
  • LIFEPOWR
  • Standing Ovation — Animal-free dairy cheese
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ABB Ventures
VC Fund · Zürich, Zurich, Switzerland · 2 investments in Belgium Energy startups

Learn about ABB Ventures and our investments in transformative industrial technologies.

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Investment focus

  • Industry: Software, Energy, Robotics
  • Stage:Series B, Series A
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 66
  • Round size: Series A $3M–$20M; Series B $7M–$60M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • UptimeAI — Get precise answers for process anomalies with self-learning OEx solutions rooted in domain SME knowledge, alike the experts you know and trust.
  • LandingAI — LandingAI - Build AI-powered applications
  • Sevensense Robotics — Sevensense empowers mobile robots to move into crowded and fast-changing spaces and enables them to support humans. Learn more about our products and technology!
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WE International
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium Energy startups

WE International is a financial firm that provides an array of loans, funding, acquisition, and investment services.

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Investment focus

  • Industry: Health Care, Biotechnology, Energy
  • Stage:Series A, Seed
  • Geography: Belgium, United States, France

Investor stats

  • Total investments: 14
  • Round size: Seed $24M–$43M; Series A $10M–$57M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Bnewable — Bnewable an energy company specialising in battery systems and energy management for businesses.
  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • John Cockerill Hydrogen — John Cockerill Hydrogen is a major global company that specializes in green hydrogen technology, particularly innovative alkaline electrolysers used to produce hydrogen.
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Big Bang Ventures
VC Fund · Antwerpen, Antwerpen, Belgium · 2 investments in Belgium Energy startups

Supporting Exceptional entrepreneurs. We value emotional intelligence as much as data, growing internal culture as much as growing revenue, and forming strong, personal bonds with founders. We recognize patterns where other don't.

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Investment focus

  • Industry: Software, Cloud Computing, Apps
  • Stage:Series A, Series B
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 19
  • Round size: Series A $1M–$2.7M; Series B $6M–$9M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • Amplidata — From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum offers the most comprehensive and cost-efficient data management solutions.
  • Clear2Pay — Clear2Pay is an innovative payments technology company focused on delivering globally applicable solutions for secure, timely and streamlined payments processing. Clear2Pay's Open Payment Framework (OPF) enables financial institutions to improve internal payments processing efficiencies whilst at the same time providing their clients withbetter payment services that are faster, with richer payments related information.Clear2Pay's solutions within the Service- Oriented Architecture (SOA) based Open Payment Framework offer financial institutions the ability to process payments through a centralised payments engine that utilises a library of re-useable business services across all payment types. The bank can thus combine new services models with existing infrastructures, thereby protecting previous investments whilst gradually moving to a more modern efficient payments environment.
  • Racktivity — Racktivity, an innovator in next-generation power, energy and environmental management solutions offers the industry's only integrated hardware and software for critical infrastructures.The DCPM suite, a Service Provider Infrastructure & Data Center Performance Management System, measures, monitors and manages power across distributeddata centres and gives customers full visibility and control of their energy consumption while integrating seamlessly with other applications and PDU appliances.Racktivity's EnergySwitch family of smart Power Distribution Units (PDUs), and sensors equips infrastructures with the most advanced metering, switching and predictive analysis capabilities available on the market today.
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LeanSquare
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium Energy startups

New Economy Startups Investor & Accelerator

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Investment focus

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

Investor stats

  • Total investments: 45
  • Round size: Seed $200k–$2.5M; Series A $247k–$12M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • CityLegends — A home for urban sports & culture partners of CityLegends. Making the lines.
  • ClimateCamp — Looking for a sustainable way to collaborate with your suppliers on emissions reduction projects? Look no further than our platform - Book a demo for free!
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Meusinvest (Noshaq)
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium Energy startups

Noshaq offers financial services to help businesses develop.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Seed
  • Geography: Belgium, France, Germany

Investor stats

  • Total investments: 76
  • Round size: Seed $137k–$6M; Series A $3.3M–$16M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • TrustUp — TrustUp is the home contractors platform, connects homeowners with verified quality home improvement.
  • Le Fourgon — Le Fourgon provides contained drinks for home delivery. They offer milk, water, beer, wine, fruit juice, and sodas. They allow customers to have their drinks delivered free of charge during the day.
  • Allegro Biotech — Allegro has developed the world’s-first custom-tailored, durable, biocompatible, anisotropic, regenerative meniscus cartilage, providing immediate support while also leverage the body’s own healing potential to regenerate human cartilage (proliferation and differentiation of fibrochondrocyte cells).
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Chroma Impact Investment
VC Fund · Braine-l'alleud, Brabant Wallon, Belgium · 1 investments in Belgium Energy startups

Chroma Impact Investment is an investment firm that transition towards sustainable and renewable sources of energy production. As a company that invests in and develops industrial energy projects, Chroma acts as a catalyst for this transition.Their current geographic focus is in Europe and Africa.Their shareholders come from Belgian industrialfamilies who want to participate in the energy transition while contributing concretely to the development of meaningful projects with a positive social and environmental impact.

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Investment focus

  • Industry: Drones, Software, Aerospace
  • Stage:Series A
  • Geography: Belgium

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

Portfolio highlights

  • Sitemark — Leverage AI-driven analytics, drone data, and automated workflows to optimize planning, construction, and operations across your entire solar portfolio.
  • Sistema.bio — Sistema.bio is a biodigester with biogas appliances. High efficiency biodigesters transform organic waste into renewable biogas.
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Spri
VC Fund · Bilbao, Pais Vasco, Spain · 1 investments in Belgium Energy startups

SPRI is a basque business development agency.

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Investment focus

  • Industry: Real Time, Automotive, Clean Energy
  • Stage:Seed
  • Geography: Spain

Investor stats

  • Total investments: 6
  • Lead/follow: no public data

Portfolio highlights

  • Emica Solar — Emica Solar is a company which develops the floating solar energy.
  • Safeloc Systems — Safeloc Systems is a developer of a real-time location system solution (RTLS) to provide ultra-wideband (UWB) technology services.
  • Cocoon Bioscience — Cocoon Bioscience helps catalyze the expansion of bottlenecked industries like cultivated meat by manufacturing performance and growth factors and specialized enzymes for individual protein, nutrition, and healthcare applications.
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Loic Bar
Angel · Liège, Liege, Belgium · 1 investments in Belgium Energy startups

Loïc Bar is the CEO of Opinum, a company dedicated to give sense to building data. He studied computer sciences at Haute Ecole of Province de Liège. He is passionate about technologies and the way it can be leveraged to improve mankind living. Directly after finishing school, Loïc took the entrepreneurship path and created its first company. Heworked for well-known companies like McKinsey & Company, L’Oréal, Coca-Cola, etc. across multiple geographies including New York, Los Angeles, London, Kathmandu, Barcelona and Paris. 4 years ago, he created The Smart Company which is now Opinum. Loïc is invited member of the “Fondation pour les Générations Futures” Think Thank, a non-profit organization mapping the transition to a more sustainable world. He is author of multiple technical books published by the French editor Micro Application.

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Investment focus

  • Industry: Battery, Electric Vehicle, Charging Infrastructure
  • Stage:Pre-Seed
  • Geography: Belgium

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Pleevi — AI powered smart charging to charge fleet more cost-efficient and cleaner on professional sites
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Entourage
VC Fund · Ghent, Oost-Vlaanderen, Belgium · 1 investments in Belgium Energy startups

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: B2B, Analytics
  • Stage:Seed
  • Geography: Belgium

Investor stats

  • Total investments: 9
  • Lead/follow: no public data

Portfolio highlights

  • Dealcar — DEALCAR is a company that digitalizes the used car market through a SaaS platform, enabling fully digital transactions. This platform creates a network effect benefiting dealers, partners, and customers. • Dealers: Increase revenue by selling extra products and boost sales by reducing turnover time. • Partners: Distribute products at the pointof sale without marketing expenses, lowering operational costs. • Consumers: Purchase a used car easily in just three steps, enjoying a smooth, trusted process similar to renting but with the benefits of owning a car.
  • Karomia — Karomia is an efficient and engaging B2B SaaS solution supporting sustainability officers in conducting a Double Materiality Assessment (DMA) of their organization, as part of their ESG report.
  • Warren — Enabling wealth, Boosting welfare
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Wallonie Entreprendre
VC Fund · 1 investments in Belgium Energy startups

Your partner ! WE is Wallonia's economic and financial tool at the service of businesses. We provide the means necessary for the development of activity in all sectors. Our investments and financing respond to a logic of creation, growth, transmission or relaunch of companies. We ensure compliance with social and environmental standards.

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Investment focus

  • Industry: Biotechnology, Recycling, Health Care
  • Stage:Series A, Seed
  • Geography: Belgium, France

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • Axithra — Axithra provides therapeutic medication monitoring and measures beta-lactam antibiotic concentrations in blood.
  • RISORCE — RISORCE fills a need in Belgium for local solutions for processing tire waste while remaining dedicated to a circular economy strategy. We provide a regionally-based, technologically and environmentally sound solution.
  • AbolerIS Pharma — AbolerIS Pharma aims to develop novel and unique therapeutic approaches to induce immune tolerance.
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Andera Partners
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Energy startups

Andera Partners, formerly known as Edmond de Rothschild Investment Partners (EdRIP) As heir to the traditions and values that have ensured the success of the Rothschild family for 250 years, the Edmond de Rothschild Group has established itself over time as a leading player in European finance. Its activities are grouped around two major areas:Private Banking and Asset Management. The Group offers wealthy families, entrepreneurs, and large institutions a full range of solutions combining a culture of tailored solutions, stability, performance, and innovation. The Edmond de Rothschild Group’s offering is characterised by strong convictions, with the desire to guarantee to each of its customers: A unique, close relationship, underpinned by the know-how and the variety of expertise of a large international group; Autonomous, experienced teams, who anticipate economic trends and innovate to establish long-term performance; The recognised stability, strength, and independence of a family-owned financial group. Founded by Baron Edmond de Rothschild in 1953, the Group has been chaired by his son, Baron Benjamin de Rothschild, since 1997.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series B, Private Equity
  • Geography: France, United States, Germany

Investor stats

  • Total investments: 167
  • Lead/follow: no public data

Portfolio highlights

  • FIRE1 — FIRE1 and is based in Dublin, Ireland, will focus on developing novel therapeutic devices.
  • Evommune — Evommune is taking a tissue-based approach to advance insights and accelerate the development of transformative medicines in inflammatory diseases.
  • Bioptimus — Our mission is to build the first universal AI foundation model for biology to fuel breakthrough discoveries and accelerate innovations in biomedicine and beyond.
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PDENH
VC Fund · Xhendelesse, Liege, Belgium · 1 investments in Belgium Energy startups

ROM InWest helpt innovatieve ondernemers bij de groei en ontwikkeling van hun startup, scale-up of mkb-bedrijf.

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Investment focus

  • Industry: Energy, Manufacturing, Renewable Energy
  • Stage:Seed, Series A
  • Geography: The Netherlands, Belgium

Investor stats

  • Total investments: 36
  • Lead/follow: no public data

Portfolio highlights

  • Sympower — Empower your business with Sympower's AI-powered solutions, optimising efficiency and maximising revenue through demand response, battery storage, and grid balancing.
  • Thorizon — A developer of nuclear power solutions. We design and create frontier technology for Thorium Molten Salt Reactors (MSR). We create and operationalize frontier technologies for molten salt reactors. Our purpose is to accelerate the availability of clean energy and help solve the climate crisis. True to
  • EST-Floattech — EST-Floattech is a supplier of DNV certified lithium battery systems for maritime and land applications with a track record of 200+ worldwide.
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Ontario Inc
VC Fund · 1 investments in Belgium Energy startups

Partner

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Investment focus

  • Industry: Energy, Banking, Security
  • Stage:Pre-Seed
  • Geography: Belgium

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • AlphacomSolution — One seamless ecosystem for critical communication empowered with AI in Azure cloud. "Improve & secure you Mission Critical Business" : Orchestrate all voice, video & data " for Mission Critical Sectors in trading, energy, transportation, public security and safety Agnostic solution to virtualise :"devices and desk" hololens, radio/satellite/fixed/wire /pc/ mobile/IOS/ANDROID/Zoom/WhatsApp...." Interconnect and access anyone, anything, anywhere ...
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KBC Focus Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Energy startups

The KBC Focus Fund is a € 50 million venture capital fund that leverages the network of KBC in our investments. As we are an evergreen fund, we always strive for an exit when market conditions are favourable.

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Investment focus

  • Industry: Electronics, Semiconductor, Manufacturing
  • Stage:Seed, Series A
  • Geography: Belgium, The Netherlands, Luxembourg

Investor stats

  • Total investments: 17
  • Lead/follow: no public data

Portfolio highlights

  • Aito — We are developers of patented and award-winning Piezo Sensing and Haptics technology who are on a mission to offer unparalleled user experience by bringing surfaces to life with tactile feedback to help consumer electronics brands create new and innovative products, offering differentiation in a crowded marketplace.
  • BeeOLED — BeeOLED’s technology enables OLED displays with significantly improved efficiency, brightness and operational stability at lower overall costs due to a less complex device structure.
  • Pharrowtech — We design state of the art bulk-CMOS RFIC devices with custom phased array antenna solutions targeted to 3GPP 5G NR and IEEE 802.11ad/ay mmWave applications.
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General Motors Ventures
VC Fund · Warren, Michigan, United States · 1 investments in Belgium Energy startups

GM Ventures combines investing in automotive-related tech startups with General Motors support to drive innovation and advance the future of mobility.

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Investment focus

  • Industry: Automotive, Software, Energy
  • Stage:Series A, Series C
  • Geography: United States, Canada, Israel

Investor stats

  • Total investments: 101
  • Round size: Series A $6.6M–$30M; Series C $10M–$99M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Nanoramic Laboratories — Established in 2016 to extend the use of nanomaterials into new markets, Nanoramic® Laboratories is the exclusive designer, manufacturer, and licenser of Neocarbonix™ electrodes, Fastcap® Ultracapacitors and Thermexit™ thermal interface gap filler pads. Nanoramic was born from the research and development of world record high temperatureultracapacitor technology funded by NASA, the Department of Energy, and the Department of Defense. Now Nanoramic is commercializing this technology to revolutionize growing industries like electric vehicle batteries and consumer and industrial electronics.Nanoramic’s predecessor, FastCAP Systems (now FastCap Ultracapacitors), was founded in 2009 by two PhDs from MIT. The company received sizable government grants leading to the development of the only ultracapacitors capable of operating in temperatures up to 150°C and under conditions of high shock and vibration. The FastCap Ultracapacitors family of products has since expanded to include wide temperature range lithium-ion capacitors, structural ultracapacitors, and the only reflowable, low ESR, slim profile ultracapacitor on the market. The hard work required to develop energy st orage for such extreme environments drove our engineers to develop Neocarbonix, an electrode platform for rechargeable Li-ion batteries, Li-ion capacitors, and supercapacitors that would outperform all competitors.In addition to Neocarbonix and FastCap Ultracapacitors, the Nanoramic product family includes Thermexit. Thermexit is a line of high-end thermal interface gap filler pads. Thermexit gap fillers are a non-reactive, non-silicon, no cure system featuring high thermal conductivity and high thermal stability. Our culture of transparency, empowerment, disciplined thinking, and experimentation is what drives us to build world-class technology
  • Niron Magnetics — Niron Magnetics delivers rare-earth-free permanent magnets built with high-performance iron nitride using abundant materials and domestic supply.
  • Addionics — Addionics creates the next generation of rechargeable batteries by using smart 3D structures to improve battery performances
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AFI Ventures
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Energy startups

Alliance For Impact (AFI) is a category-defining structure for impact companies combining equity-free acceleration with first-ticket seed funding.

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Investment focus

  • Industry: Environmental Consulting, GreenTech, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: France, Belgium, Germany

Investor stats

  • Total investments: 35
  • Lead/follow: no public data

Portfolio highlights

  • Moonwatt — Moonwatt solves problems of the energy transition through innovative energy products hardware and software.
  • Tilt Energy — We are passionate engineers, PhD, business grads on a mission to help the energy transition using our skills: software and AI ! As we need to produce and consume energy in a more responsible, efficient and low-carbon way, our solution enables decentralized energy consumers to better integrate into the grid. We are building an innovative platformthat empowers the widespread adoption of renewable energies and everyone to take charge of their energy consumption. If energy is a topic at heart and you like challenge then join us !
  • Nova Carbon — High-performance sustainable carbon fiber composites
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LRM
VC Fund · Hasselt, Limburg, Belgium · 1 investments in Belgium Energy startups

Oxygen for growth - LRM

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Investment focus

  • Industry: Manufacturing, Drones, Sensor
  • Stage:Seed
  • Geography: Belgium, The Netherlands

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • Solithor — Solithor is a company developing solid-state battery technology. It is spearheading the development, manufacturing, and commercialization of solid-state lithium (Li) battery cell technology to offer high-energy storage solutions.
  • MyCellHub — MyCellHub.com is a pre-startup from the KULeuven in the biotherapeutics industry that aspires to reform the way cell production processes are organised. With a regulatory compliant Saas-platform for data management and analytics, we increase the efficiency of your manufacturing processes, provide actionable insights via cell culture specificprocess analytics and facilitate regulatory compliance by means of a real-time audit trail and automated batch records.
  • Aerial Precision — Experience the most streamlined and user-friendly workflow, seamlessly transforming iPad LiDAR data processing into exceptional deliverables.
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Seed Capital Bizkaia
VC Fund · Bilbao, Pais Vasco, Spain · 1 investments in Belgium Energy startups

Seed Capital de Bizkaia is a Regional Council company affiliated to Biscay Regional Council's Department of Economic Development and Innovation (Departamento de Innovación y Promoción Económica de la Diputación Foral de Bizkaia) whose aim is to manage a Venture Capital Fund called “Seed Capital Bizkaia, F.C.R.“.

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Investment focus

  • Industry: Software, Biotechnology, Manufacturing
  • Stage:Seed, Series A
  • Geography: Spain, Mexico, Belgium

Investor stats

  • Total investments: 32
  • Lead/follow: no public data

Portfolio highlights

  • coometes — coometes offer social institutions a comprehensive solution for managing food aid and basic necessities for vulnerable persons.
  • Begas Motor — Begas has designed and manufactures the first engine for industrial vehicles powered 100% by LPG (Liquefied Petroleum Gas or AUTOGAS). Ability to remotorize vehicles and make them ecological with Euro VI certificate.
  • Emica Solar — Emica Solar is a company which develops the floating solar energy.
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Lune Ventures
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Energy startups

Lune Ventures is a investment firm that helps tech, energy, and real estate to grow businesess.

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Investment focus

  • Industry: CleanTech, Manufacturing, Renewable Energy
  • Stage:Pre-Seed
  • Geography: Belgium

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • ARK Capture Solutions — ARK Capture Solutions is a cleantech company that specializes in decarbonization solutions to record low energy consumption.
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Apic Investments
VC Fund · Berlin, Berlin, Germany · 1 investments in Belgium Energy startups

Apic Investments is an early-stage focused Venture Capital, investing in PropTech and RetailTech companies. Apic Investments' goal is to help build start-ups and to accelerate their business models with capital, industry expertise, and a network.

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Investment focus

  • Industry: Real Estate, Software, Internet of Things
  • Stage:Series A, Seed
  • Geography: Germany, Austria, Belgium

Investor stats

  • Total investments: 17
  • Lead/follow: no public data

Portfolio highlights

  • Cosuno — Cosunos vision is to connect all players of the construction industry, transforming their collaboration to drive efficiency through software and best customer experience.Cosuno is evaluating how general contractors, property developers and architects can master the challenges posed by high process costs and a lack of transparency in theprocurement of subcontractors. And this is just the beginning. Cosuno is constantly driving change in the construction industry with innovative methods and digital processes by developing and continuously improving simple and transparent solutions.
  • Evernest — Evernest has developed a technology platform for real estate agents to make the entire process of residential real estate transactions more efficient. With the help of its full-service brokerage platform, smart marketing services and digitized support processes, Evernest offers a transparent and personalized experience for agents as well asproperty buyers and sellers. Founded in late 2019, currently more than 100 people are working for Evernest in Hamburg and Berlin, Germany.
  • Storebox — Storebox is the first fully digitized self-storage solution in Europe, with more than 140 locations in Austria, Germany, Switzerland and Luxembourg. We offer storage spaces for private and business purposes, which are automatically accessible at any time. With our successful and recently awarded franchise system, we manage to grow and will continueto expand within Europe.Storebox is more than just a self-storage system. FULL-SERVICE CLICK & COLLECT Click & Collect directly in your neighbourhood? Storebox allows you to quickly and easily expand the Click & Collect offer for your customers to new districts, cities and countries. We coordinate the transport and customer communication for you.MICRO-HUBS FOR THE LAST MILE Use central warehouse locations in urban areas as a starting point for the last mile. Storebox as a micro-depot offers you the fastest way to your customers, allowing you to save time, money and emissions. Customer proximity and responsiveness through local storage: Benefit from our strategically positioned storage units and serve the needs of your customers as quickly as possible. At the same time, you can reduce unnecessarily driven kilometres by your employees in the field and thus save time and money.SPARE PARTS WAREHOUSE FOR SERVICE TECHNICIANS With Storebox you can store spare parts and goods directly where they will be used. In this way, you are in close proximity to the customer and save yourself long travel times for collecting the materials from a central warehouse. Create more efficiency by receiving deliveries of goods 24/7 directly to the Storebox and returning them if necessary.
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H&M Foundation - Global Change Award
VC Fund · 1 investments in Belgium Energy startups

WINNER CALL FILM The latest

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Investment focus

  • Industry: Fashion, CleanTech, GreenTech
  • Stage:Pre-Seed
  • Geography: Belgium

Investor stats

  • Total investments: 12
  • Lead/follow: 92% lead, 8% follow

Portfolio highlights

  • Nanoloom
  • SXD
  • ALGreen.Tech
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Alychlo
VC Fund · 1 investments in Belgium Energy startups

Alychlo

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Investment focus

  • Industry: CRM, Energy, Medical
  • Stage:Series D, Series E
  • Geography: Belgium, United States

Investor stats

  • Total investments: 4
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Lizy — Goedkoper tweedehands leasen. LIZY is uw referentieplatform voor onmiddellijk beschikbare autoleasing. | Lize Leasing
  • Itineris — Our cloud-based solution is built on the Microsoft Dynamics 365 platform and is specifically designed to meet the needs of Utility businesses.
  • SOPHiA GENETICS — Helping clinicians to generate real-time, actionable insights for patients with cancer and rare disorders.
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Stefan Grosjean
Angel · Bruges, West-Vlaanderen, Belgium · 1 investments in Belgium Energy startups

Stefan Grosjean is a Founder & CEO at Smappee.

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Investment focus

  • Industry: Energy, Internet, Software
  • Stage:Series A, Seed
  • Geography: Belgium

Investor stats

  • Total investments: 3
  • Round size: Series A $2.3M–$2.7M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Smappee — Smappee develops innovative solutions that foster sustainable energy consumption. They offer people user-friendly, affordable and efficient ways to use less energy without sacrificing comfort. Under the slogan “Let’s win”, Smappee takes care that both the consumer and the environment win.Smappee is not only the name of the product, but alsoof the underlying company. It was founded in 2012 by Stefan Grosjean, an expert in the field of energy management. Previously he founded Energy ICT, which he built up into a world leader in the field of energy management solutions for industrial and commercial companies, government authorities and energy providers. Smappee represents his desire to apply his experience to the benefit consumers as well.
  • Zapfloor — Zapfloor is the number one workspace management software for coworking spaces, serviced offices and corporate workspaces in Europe.
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QBIC II
VC Fund · 1 investments in Belgium Energy startups

QBIC II

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Investment focus

  • Industry: Biotechnology, Industrial, Construction
  • Stage:Series B, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 9
  • Round size: Series B $20M–$64M
  • Lead/follow: 22% lead, 78% 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.
  • Sentea — Sentea makes fibre optic Sensing affordable to the industry and enables continuous monitoring even in harsh environments.
  • Laminaria — The LAMWEC project is made up of a consortium of ocean energy experts. The consortium is led by Laminaria, and includes EMEC, Innosea, Ghent University, and TTI Testing.
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FPIM
VC Fund · Boca Raton, Florida, United States · 1 investments in Belgium Energy startups

FPIM aims to separate the chaff from the wheat, to clarify the difference between utilization of nutritional supplements and the apocryphal.

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Investment focus

  • Industry: Manufacturing, Battery, Industrial
  • Stage:Seed, Series B
  • Geography: Belgium

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Calyos — Calyos is one of the world's leading experts in two-phase heat transfer technologies.
  • reMYND — Driving the development of disease-modifying treatments
  • Solithor — Solithor is a company developing solid-state battery technology. It is spearheading the development, manufacturing, and commercialization of solid-state lithium (Li) battery cell technology to offer high-energy storage solutions.
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AXE Investments N.V.
VC Fund · Antwerp, Antwerpen, Belgium · 1 investments in Belgium Energy startups

AXE Investments is a joint venture between the holding companies Anacom and Ackermans & van Haaren and is part of the AXE Group

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Investment focus

  • Industry: Energy, Recycling, Clean Energy
  • Geography: Belgium

Investor stats

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

Portfolio highlights

  • REstore — REstore is the award-winning energy technology company, specialized in Demand Side Management and leading the fast-growing European Primary Reserve / Frequency control market, and operates in all ancillary services and capacity markets in France, UK, Germany and Benelux. FlexPond™. REstore's AI-platform, is used by +150 of the largestC&I consumers and the largest top 50-utilities. FlexTreo™, offered to large C&I consumers, is REstore's latest solution to monetise flexibility.
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Airborn
VC Fund · Antwerp, Antwerpen, Belgium · 1 investments in Belgium Energy startups

Airborn fund is investing in founders with impact

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Investment focus

  • Industry: Software, CleanTech, GreenTech
  • Stage:Pre-Seed
  • Geography: Belgium, United States

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $768k–$1.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Genvision — Genvision measures CO2 removal in nature. By analyzing satellite images of nature with AI, we are solving the world's biggest challenge in its transition to carbon neutrality.
  • ClimateCamp — Looking for a sustainable way to collaborate with your suppliers on emissions reduction projects? Look no further than our platform - Book a demo for free!
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Ark Angels Activator Fund
VC Fund · Hasselt, Limburg, Belgium · 1 investments in Belgium Energy startups

Ark Angels Activator Fund SA is a closed venture capital fund (closed-end private equity investment fund) with a capital of 14.8 M EUR. The Fund is recognized as ARKIV and has obtained the status of Private Privak under Belgian law. The Fund is managed by a management company set up by BAN Vlaanderen VZW, ING Belgium & the two fund managers.The Fund initially acted primarily as a co-investor in investments made by business angels who are members of BAN Vlaanderen, but then also co-invested with other capital providers. It focuses not only on investments in young growth companies, but also on companies in the growth or transfer phase with an operating office in Flanders,

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Investment focus

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

Investor stats

  • Total investments: 20
  • Round size: Seed $932k–$1.6M; Series A $1.2M–$7.4M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Apicbase — Apicbase is a F&B management platform that gives you total visibility of your back of house so you can grow without compromise.
  • waylay — Waylay is a leading Enterprise IT-OT digital unification software company delivering low-code based orchestration, automation and analytics software solutions. Waylay has a passion for supporting enterprises on their IoT automation journey and ensuring it puts all valuable data to work for developers, data scientists and domain experts.
  • Accelleran — Accelleran is pioneering a disruptive approach to the delivery of cost-effective, carrier and mission-critical grade TDD and FDD Small Cell networks through its focus on software quality and partnerships with volume manufacturers.Accelleran provides LTE Small Cell software and LTE Small Cell product solutions which address the real-worldchallenges of volume deployment of Small Cells. We offer turnkey solutions and unique experience on the challenges of integrating cellular technology on low cost, yet powerful platforms and architectures. Accelleran offers its customers solid and dependable system solutions, backed by the support of our unparalleled expertise.Accelleran’s technology is genuinely independent from any HW platform and enables operators to invest once in the integration and validation of a common software base that can be deployed across different segments, platforms and Small Cell architectural approaches to enable a truly integrated HetNet.
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PMV Tina Fund
VC Fund · 1 investments in Belgium Energy startups

PMV Tina Fund is a venture capital firm that specializes in growth capital investments.

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Investment focus

  • Industry: Manufacturing, Eyewear, Printing
  • Stage:Series A, Series D, Series E
  • Geography: Belgium, Switzerland, The Netherlands

Investor stats

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

Portfolio highlights

  • Borit — Borit delivers components for fuel cells and electrolyzes. By developing a production infrastructure of ultra-thin metal bipolar plate assemblies and by providing metal forming, cutting, welding, coating, and sealing, they contribute to the clean energy economy.
  • Biocartis — Biocartis is an innovative molecular diagnostics company committed to revolutionize molecular testing with its unique proprietary IdyllaTM platform. We provide next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and the healthcare industry, with a focus on oncology.
  • Luxexcel — Luxexcel is the only company in the world with the technology to 3D print lenses. Luxexcel is on a path to open a new era in eyewear with custom quality prescription lenses. And opening up a new vision on smart eyewear by enabling technology partners to develop unique lenses. Luxexcel has developed and owns all components necessary to enable ourcustomers to 3D print optics: hardware, software, process and materials
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imec.xpand
VC Fund · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium Energy startups

Expanding nanotechnology into business.

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Investment focus

  • Industry: Semiconductor, Manufacturing, Medical Device
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, United States, Germany

Investor stats

  • Total investments: 48
  • Round size: Seed $3.3M–$21M; Series A $8.7M–$56M; Series B $12M–$100M
  • Lead/follow: 52% lead, 48% follow
  • Last fund: Likely still investing — raised $351M in 2024

Portfolio highlights

  • Pharrowtech — Pharrowtech designs next-generation solutions for fixed-wireless access, wireless VR/AR and ultra-high capacity wireless links. It builds on more than 12 years of top-notch R&D performed at imec, the Belgian R&D powerhouse. Leveraging deep technical expertise in algorithm, chip and antenna design for millimeter-wave systems, it createsproducts with best-in-class performance, power and cost features.
  • Onera Health — Introduction to Onera sleep diagnostics and monitoring solutions
  • SCIL Nanoimprint solutions — High-resolution patterning at the nanoscale level. Providing tools, consumables and process development services].
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Capricorn Partners
VC Fund · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium Energy startups

Capricorn Partners is a unique independent manager of venture capital, growth capital and quoted equity funds

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Investment focus

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

Investor stats

  • Total investments: 117
  • Round size: Series A $3.3M–$18M; Series B $5.3M–$42M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Azumuta — Unite Connected Worker and MES capabilities to build the execution platform that coordinates, governs, and continuously improves operational work on the shop floor, across humans, AI agents, and robotic systems
  • Sensolus — Sensolus provides care-free tracking of your valuable non-powered assets directly from the cloud.Sensolus offers turnkey solutions for wireless, low-power context-aware sensing. Sensolus developed a personal product line of low-power tracker systems called STICKNTRACK.Sensolus is built upon many years of expertise in low-power networks,wireless sensor design, cloud-based sensor management, analytics, and applications.
  • VOID Technologies — VOID Technologies is a groundbreaking materials science company spun out of Kimberly-Clark to commercialise the VO+ technology. Our business model is based on supplying VO+ additive masterbatches to film manufacturers.
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Innogy Venture Capital
VC Fund · Essen, Nordrhein-Westfalen, Germany · 1 investments in Belgium Energy startups

Innogy Venture Capital is a fund management company in distributed energy solutions. The company focuses on investments in European startup companies that provide solutions and new business models shaping the future energy market. With a final closing size of EUR 115 million, the currently managed "Innogy Renewables Technology Fund I" isa leading early stage investor in this segment in Europe. The fund's sponsors are RWE Innogy and CEE Holding. RWE Innogy pools within the German utility RWE the expertise for construction and operation of renewable energy generation assets. CEE Holding is an investment company of Bankhaus Lampe Group, focusing on renewable energy generation.

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Investment focus

  • Industry: Energy, CleanTech, Renewable Energy
  • Stage:Series A, Series B
  • Geography: Germany, Sweden, United States

Investor stats

  • Total investments: 17
  • Round size: Series A $2.5M–$7.7M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $135M in 2010

Portfolio highlights

  • Enercast — enercast is a leading technology provider for weather-based artificial intelligence and the digital transformation of renewable energy. Its self-learning SaaS products deliver accurate power generation forecasts for wind and solar plants, thus enabling the integration of renewable energy into power grids and energy markets worldwide. The enercast platform supplies the digital actors of the emerging decentralized energy system with the intelligence they need to manage limited resources with foresight.
  • Heliatek — As the technology leader in organic photovoltaics, Heliatek develops, produces and distributes industrial-grade organic PV solar solutions for virtually any building surface (horizontal, vertical, curved, rigid, and flexible). Heliatek stands for energy solutions designed for various traditional and never been possible before applications based onits unique features – it is ultra-light, flexible and truly green. HeliaSol® is a ready-to-use solution, ideal for retrofitting on existing building structures. HeliaFilm® is tailor-made solar film for companies in the building and construction material industry, to integrate into their façade or roof system products. Heliatek currently employs about 160 people at the Dresden and Ulm locations in Germany.The Free State of Saxony, the Federal Republic of Germany, and the European Union funded research and development, as well as the installation of the production technology.
  • eSmart Systems — ESmart Systems provides AI-driven software solutions to the energy industry and service providers. The company is based on more than 20 years of international experience in establishing and operating knowledge based, leading IT and energy related companies targeting global markets.The company provides software solutions to the energy industry andservice providers. Its cloud-born platform is designed to handle and exploit the Internet of Things, Big Data and Analytics in real-time. Common to all applications is vast data quantities gathered from sensors, which are analyzed using advanced prediction and optimization models. This results in completely new ways of visualizing data, making decisions and saving resources and costs. The platform is designed for Big Data from the ground up without legacy.eSmart Systems originates from the renowned IFE environment (Institute for Energy Technology). The company was founded in 2012 by an experienced team previously responsible for large IT service exports including delivery of the world's first power exchange to Nord Pool, the Nordic Power Exchange, in 1991. Since 2012 the company has grown rapidly and currently consists of almost 80 employees with offices in Norway, Denmark, the UK, and USA.
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Lean FUND
VC Fund · Louvain, Vlaams-Brabant, Belgium · 1 investments in Belgium Energy startups

Startups, increase your value by 3 within 9 months thanks to Power 3 by Leanfund (www.leanfund.com)!

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Investment focus

  • Industry: Internet, Apps, Software
  • Stage:Seed, Series B
  • Geography: Belgium, United States, France

Investor stats

  • Total investments: 12
  • Round size: Seed $66k–$384k
  • Lead/follow: 83% lead, 17% follow

Portfolio highlights

  • Neveo — With one click, send photos and messages on a family newspaper that your senior will receive every month.
  • Supersec — Good to eat, good to think: discover the Supersec organic, healthy, artisanal and sustainable food treats available in bulk delivery!
  • Sortlist — Discover the most relevant agencies for your project based on your own specific requirements.
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WING by Digital Wallonia
VC Fund · Liège, Liege, Belgium · 1 investments in Belgium Energy startups

W.IN.G by Digital Wallonia invests in SAAS, advanced tech and deep tech startups (AI, drones, medtech, IOT,...). W.IN.G brings smart money by helping startups by bi-weekly interactions and providing an operating teams (seasonal entrepreneurs being hands-on with the portfolio).

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Convertible Note, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 34
  • Round size: Seed $346k–$1.9M; Series A $1.1M–$11M; Convertible Note $219k–$568k
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • IONNYK — IONNYK is a new medium of art photography, containing millions of tiny ink capsules.
  • MYOCENE — Myocene is a Liège-based sports technology company which creates unique and innovative devices for measuring muscle fatigue and performance.
  • Soil Capital Belgium — Discover Europe's first certified, multi-national carbon farming programme that rewards regenerative agriculture.
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Energy Investor funding in Belgium at a glance

Stats across 104 deals from 145 investors.

145
investors
in Belgium Energy startups
104
deals
in Belgium Energy startups
$2.9M
median round
in Belgium Energy startups
41%
lead investors
lead at least one round
26%
Seed
most common funding stage
97/3
VC / Angel
share of investor count

Access all 145 investors in Belgium Energy startups.

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