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Top 50 Manufacturing Startup Investors in Belgium (October 2026)

The most active venture capital funds and angel investors investing in Belgium Manufacturing startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium Manufacturing startup companies. Find investors to raise a Seed, Series A or Venture - Series Unknown round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
PMV
VC Fund
13 Belgium, United States, The Netherlands Seed, Series A, Series B Software, Biotechnology, Health Care $1M–$43M
Limburgse Reconversie Maatschappij
VC Fund
9 Belgium, The Netherlands, United States Seed, Venture - Series Unknown Information Technology, Software, Biotechnology $658k–$11M
Qbic Fund
VC Fund
8 Belgium, France, The Netherlands Seed, Series A, Venture - Series Unknown Biotechnology, Software, Health Care $1.4M–$34M
Innovation Fund
VC Fund
7 Belgium, France, Luxembourg Seed, Venture - Series Unknown, Series A Health Care, Manufacturing, Chemical $318k–$8.8M
imec.xpand
VC Fund
6 Belgium, United States, Germany Seed, Series A, Series B Semiconductor, Manufacturing, Medical Device $3.3M–$100M
S.R.I.W.
VC Fund
5 Belgium, United States, Spain Venture - Series Unknown, Series A Health Care, Biotechnology, Manufacturing $422k–$32M
Gemma Frisius Fund
VC Fund
5 Belgium, France, United Kingdom Seed, Series A, Series B Biotechnology, Medical, Software $500k–$84M
Finindus
VC Fund
5 Belgium, United States, Sweden Series A, Venture - Series Unknown, Seed Manufacturing, Industrial, Renewable Energy $1.3M–$27M
Industrya
VC Fund
5 France, Belgium Seed, Series A, Venture - Series Unknown Industrial, Manufacturing, Logistics $946k–$6.7M
HCVC
VC Fund
4 United States, France, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, Robotics $920k–$30M
Meusinvest (Noshaq)
VC Fund
4 Belgium, France, Germany Series A, Seed, Venture - Series Unknown Biotechnology, Health Care, Medical $137k–$16M
Noshaq
VC Fund
3 Belgium, France, United States Seed, Series A Biotechnology, Medical Device, Medical $5.3M–$43M
Eurazeo
VC Fund
3 France, United States, United Kingdom Venture - Series Unknown, Seed, Series B Software, Information Technology, Health Care $3.2M–$156M
KBC Focus Fund
VC Fund
3 Belgium, The Netherlands, France Seed, Series A, Venture - Series Unknown Semiconductor, Manufacturing, Electronics $1.2M–$22M
Fidimec
VC Fund
3 Belgium Seed, Series A Industrial, Semiconductor, Medical $2.3M–$7.3M
Index Ventures
VC Fund
3 United States, United Kingdom, France Series A, Series B, Seed Software, E-Commerce, Internet $1.4M–$100M
Saffelberg Investments
VC Fund
3 Belgium, Australia, United States Series A, Private Equity, Seed Information Technology, Software, SaaS $1.2M–$40M
QBIC II
VC Fund
3 Belgium Series B, Venture - Series Unknown, Seed Biotechnology, Industrial, Construction $1.5M–$64M
The Faktory Fund
VC Fund
3 Belgium, France, United States Seed, Venture - Series Unknown, Pre-Seed Software, Analytics, Information Technology $700k–$22M
Thibaud Elziere
Angel
3 France, United States, Belgium Seed, Pre-Seed, Series A Software, Internet, Information Technology $395k–$16M
Finance.Brussels
VC Fund
3 Belgium, France Seed, Series A, Venture - Series Unknown Software, Information Technology, SaaS $1.5M–$16M
SFPIM
VC Fund
3 Belgium, France, Switzerland Series A, Venture - Series Unknown Biotechnology, Health Care, Semiconductor $8.6M–$251M
New Science Ventures
VC Fund
2 United States, United Kingdom, Belgium Series B, Series A, Series D Biotechnology, Health Care, Medical $4M–$52M
Namur Invest
VC Fund
2 Belgium, United States Series A, Seed, Grant Health Care, Medical Device, Auctions $658k–$18M
Knife Capital
VC Fund
2 South Africa, United States, United Kingdom Series A, Venture - Series Unknown Software, Information Technology, Education $1M–$15M
VIGO Ventures
VC Fund
2 Poland, Germany, Spain Seed, Pre-Seed, Series A Manufacturing, Electronics, Semiconductor $1.1M–$7.7M
Bloc Ventures
VC Fund
2 United Kingdom, Israel, Belgium Seed, Series A, Series B Software, Internet of Things, Financial Services $653k–$27M
invest.bw
VC Fund
2 Belgium, United States Seed, Pre-Seed, Series A Biotechnology, Electronics, Health Care $2.9M–$43M
NewSpace Capital
VC Fund
2 United States, France, Belgium Series C, Series A Aerospace, Military, Space Travel $27M–$270M
WE International
VC Fund
2 Belgium, United States, France Seed, Series A, Venture - Series Unknown Health Care, Energy, Biotechnology $2.2M–$251M
imec.istart Future Fund
VC Fund
2 Belgium, United Kingdom Seed, Pre-Seed, Series A Health Care, Medical Device, Satellite Communication $1.2M–$5.7M
Greyhound Capital
VC Fund
2 United States, India, United Kingdom Series B, Seed, Series A Financial Services, FinTech, Banking $1M–$66M
Capricorn Partners
VC Fund
2 Belgium, The Netherlands, United States Series A, Series B Biotechnology, Health Care, Software $3.3M–$45M
XAnge
VC Fund
2 France, Germany, Belgium Seed, Series A, Series B Software, SaaS, Health Care $1.1M–$75M
VCT Vector Gestion
VC Fund
2 Belgium Seed Computer, Electronics, Manufacturing $21M–$43M
Francis Nappez
Angel
2 France, United States, Belgium Seed, Angel, Series A Software, Internet, SaaS $439k–$11M
Bertrand Jelensperger
Angel
2 France, Spain, Belgium Seed, Series A, Angel Apps, Software, E-Commerce $1M–$11M
The CoFoundry
VC Fund
2 Belgium, The Netherlands, United States Seed, Series A, Venture - Series Unknown Software, SaaS, Security $912k–$4.3M
LRM
VC Fund
2 Belgium, The Netherlands Seed Manufacturing, Drones, Sensor
Harold Mechelynck
Angel
2 France, Belgium, United States Seed, Series A, Series B FinTech, Finance, SaaS $658k–$11M
Fred Potter
Angel
2 France, Belgium Seed, Series A Artificial Intelligence, SaaS, Software $1.4M–$3M
Buysse & Partners
VC Fund
2 Belgium, United Kingdom, The Netherlands Series A, Seed, Venture - Series Unknown Software, Cloud Computing, FinTech $1.1M–$11M
SmartFin
VC Fund
2 Belgium, The Netherlands, Turkey Series A, Series B, Seed Software, SaaS, Information Technology $549k–$35M
FPIM
VC Fund
1 Belgium Seed, Series B Manufacturing, Battery, Medical $8.2M–$10M
Xavier Dewulf
Angel
1 Belgium Seed Cycling, Manufacturing, Transportation
Steven Buyse
Angel
1 Belgium, United States Seed, Private Equity Cycling, Marketing, Advertising
Bob Verbeeck
Angel
1 Belgium Seed Cycling, Manufacturing, Transportation
Nuhma
VC Fund
1 Belgium Seed, Series A, Venture - Series Unknown Battery, Software, GreenTech
Aperam Ventures
VC Fund
1 Belgium Pre-Seed CleanTech, Manufacturing, Renewable Energy
Lune Ventures
VC Fund
1 Belgium Pre-Seed CleanTech, Manufacturing, Renewable Energy
Access all 210 investors in Belgium Manufacturing startups.

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

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Investor list

PMV
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 13 investments in Belgium Manufacturing 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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Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 9 investments in Belgium Manufacturing 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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Qbic Fund
VC Fund · Belgium, Wisconsin, United States · 8 investments in Belgium Manufacturing 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. Our investment 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, Venture - Series Unknown
  • Geography: Belgium, France, The Netherlands

Investor stats

  • Total investments: 62
  • Round size: Seed $1.4M–$7.4M; Series A $1.6M–$34M; Venture - Series Unknown $2.2M–$9.4M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $54M in 2022

Portfolio highlights

  • Firecell — Firecell is a Telecommunications Industry.
  • Eyeo — eyeo revolutionizes imaging with color splitter sensors. Capture sharper, brighter images in low light using optical waveguide innovation, discover how it works
  • 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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Innovation Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 7 investments in Belgium Manufacturing startups

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

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Investment focus

  • Industry: Health Care, Manufacturing, Chemical
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Belgium, France, Luxembourg

Investor stats

  • Total investments: 31
  • Round size: Seed $318k–$6M; Series A $2.3M–$5M; Venture - Series Unknown $1.1M–$8.8M
  • Lead/follow: 26% lead, 74% 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.
  • Fyteko — For a more sustainable agriculture
  • Graftys — Graftys, an Aix-en-Provence, France-based early stage company focused on advanced bone biologics.
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imec.xpand
VC Fund · Leuven, Vlaams-Brabant, Belgium · 6 investments in Belgium Manufacturing startups, 8 in the past 12 months

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: 56
  • Round size: Seed $3.3M–$21M; Series A $9.1M–$72M; Series B $12M–$100M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — raised $322M in 2024

Portfolio highlights

  • 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),
  • Euclyd — Euclyd develops AI infrastructure designed to make advanced AI computing more efficient and scalable. Its platform combines programmable ASIC compute, processor-memory co-design, and system-level optimization to address power, memory, and infrastructure constraints. Its products include craftwerk, an agentic AI silicon platform, and CWS 32, an AIcomputing system focused on low-power exascale performance. Euclyd also develops silicon architecture, systems, firmware, compilers, and runtime software for AI infrastructure.
  • NEURA Robotics — Cognitive Robotics for Real-World Applications: NEURA Robotics enables safe and smart robot integration for Industry, Work and Everyday Life
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S.R.I.W.
VC Fund · Liège, Liege, Belgium · 5 investments in Belgium Manufacturing 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 Régionale d’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:Venture - Series Unknown, Series A
  • Geography: Belgium, United States, Spain

Investor stats

  • Total investments: 111
  • Round size: Series A $422k–$32M; Venture - Series Unknown $2.7M–$27M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Univercells — Mix parlay, atau lebih dikenal sebagai parlay bola atau hanya parlay, merupakan taruhan judi bola online yang menggabungkan minimal 2 hingga 10 tim pertandingan sepak bola menjadi 1 tiket taruhan.
  • Intressa Vascular — Intressa Vascular provides innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection.
  • Santero Therapeutics — This is the homepage of the website
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Gemma Frisius Fund
VC Fund · Leuven, Vlaams-Brabant, Belgium · 5 investments in Belgium Manufacturing 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, Medical, Software
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, France, United Kingdom

Investor stats

  • Total investments: 41
  • Round size: Seed $500k–$4.7M; Series A $1.1M–$84M; Series B $4.7M–$24M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Runeasi — The first scientifically validated wearable solution to measure impact while running and detect how your body responds to it - Perform real-time biomechanical assessments - Guide your athletes and patients with actionable insights to help them run more efficiently and recover from injuries with confidence
  • Optiflux — Optiflux automatiseert het bewaarbeheer van vers fruit met slimme AI & vision-technologie. Minder verlies, meer winst voor teler & handelaar.
  • Aspect Analytics — Aspect Analytics offers consultancy services, home-grown software, development of workflows, and customization of software.
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Finindus
VC Fund · Zelzate, Oost-Vlaanderen, Belgium · 5 investments in Belgium Manufacturing startups

Finindus provides early stage financing and growth capital to innovative companies active in the area of materials, material processing and sustainable manufacturing. We are funded by ArcelorMittal and the Flemish Region and linked to OCAS, the world class metals research center located in Belgium.

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Investment focus

  • Industry: Manufacturing, Industrial, Renewable Energy
  • Stage:Series A, Venture - Series Unknown, Seed
  • Geography: Belgium, United States, Sweden

Investor stats

  • Total investments: 36
  • Round size: Seed $1.3M–$5.4M; Series A $3.4M–$27M; Venture - Series Unknown $1.5M–$9.1M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Ventory — Ventory is an affordable, intuitive, and easy-to-use platform that gives field professionals full visibility and real-time control over remote inventory.
  • Immaterial — Facilitating the energy transition with advanced materials.
  • Tretau — E-mobility is powered by its core - the electric motor. We at Tau are at the very core of the core: the copper winding wire, the magnetic core, the electrical steel.We just make it bet.
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Industrya
VC Fund · Seraing, Liege, Belgium · 5 investments in Belgium Manufacturing 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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HCVC
VC Fund · Paris, Ile-de-France, France · 4 investments in Belgium Manufacturing startups

HCVC is an early-stage Venture Capital firm backing hardtech companies worldwide. Beyond its fund, HCVC supports hardtech founders through Hardware Club, a selective global community of 500+ startups with dedicated resources, partnerships and events.

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Investment focus

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

Investor stats

  • Total investments: 93
  • Round size: Seed $920k–$11M; Pre-Seed $1.4M–$5.2M; Series A $5.2M–$30M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • NavierAI — Custom engineering agents for CAD, CFD, meshing, and simulation workflows.
  • Chiral — Next-generation electronics with nanomaterials
  • Surge — SurgeCare leverages immune profiling and AI to reveal early immune signatures and drive better decisions in surgery, trauma, infection, and beyond.
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Access 48,091 investors

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

Browse database — It's Free!
Meusinvest (Noshaq)
VC Fund · Liège, Liege, Belgium · 4 investments in Belgium Manufacturing startups

Noshaq offers financial services to help businesses develop.

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $137k–$6M; Series A $3.6M–$16M; Venture - Series Unknown $2M–$16M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • 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).
  • Amyl Therapeutics — Amyl Therapeutics is a preclinical stage biotechnology company. Amyl Therapeutics uses a novel mechanism to bind to the amyloid fold of toxic protein aggregates of various types, including antibody light chain (AL) or transthyretin (TTR) aggregates, which accumulate in peripheral organs to cause systemic amyloidosis diseases, but also amyloid-β(Aβ), Tau, and α-synuclein aggregates, which accumulate in the brain to cause Alzheimer's and Parkinson's diseases.
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Noshaq
VC Fund · Liège, Liege, Belgium · 3 investments in Belgium Manufacturing startups

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

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Investment focus

  • Industry: Biotechnology, Medical Device, Medical
  • Stage:Seed, Series A
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 16
  • Round size: Seed $5.4M–$43M; Series A $5.3M–$19M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Lisaqua — Lisaqua is developing a unique aquaculture process to raise prawns without antibiotics and without polluting waste
  • LIFEPOWR — Cut costs, reduce emissions and optimise your energy with LIFEPOWR FlexiO. AI-powered forecasting and dynamic control turn energy flexibility into real value.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
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Eurazeo
VC Fund · Paris, Ile-de-France, France · 3 investments in Belgium Manufacturing startups

Eurazeo is a private equity and venture capital firm that invests in SMEs and manages a diversified portfolio of assets. With its expertise in private equity, real estate, and private debt, the group supports companies of all sizes in their development commitment through the commitment of its 235 professionals. It provides companies with the necessary investments needed to realize their growth potential. The firm was founded in 1969 and is based in Paris, Ile-de-France, France.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Venture - Series Unknown, Seed, Series B
  • Geography: France, United States, United Kingdom

Investor stats

  • Total investments: 386
  • Round size: Seed $3.2M–$16M; Series B $17M–$125M; Venture - Series Unknown $7.8M–$156M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely actively investing — fresh fund, raised $2.6B in 2026

Portfolio highlights

  • Excelya — Excelya is a contract research organization (CRO) that provides full-service, FSP, and Resourcing solutions.
  • Proteor — Proteor offers a complete range of high quality products and services to the O&P world, through more than 60 clinics.
  • Celcius Logistics Solutions — India's Largest 'ONLINE " cold chain network.Book reefer vehicles, Cold Storages or get booking for your vehicle and cold storages across India instantly with the best price
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KBC Focus Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Manufacturing 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: Semiconductor, Manufacturing, Electronics
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, The Netherlands, France

Investor stats

  • Total investments: 27
  • Round size: Seed $1.2M–$14M; Series A $2.9M–$17M; Venture - Series Unknown $1.5M–$22M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • Ubitium — Ubiquitous computing, universal RISC-V microprocessor
  • CoolSem Technologies — CoolSem Technologies, based in Eindhoven, the Netherlands, was founded in 2025. The startup develops innovative wafer-level thermal management technologies that reduce thermal resistance and minimize mechanical stress in advanced semiconductor and photonic devices. With its WaLTIS multilayer stack, CoolSem replaces conventional substrates with aspecially designed layer structure that optimizes heat flow, stability and reliability.
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Fidimec
VC Fund · Leuven, Vlaams-Brabant, Belgium · 3 investments in Belgium Manufacturing startups

Fidimec is a Belgium-based venture capital firm that offers investment and incubation services for seed stage startups.

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Investment focus

  • Industry: Industrial, Semiconductor, Medical
  • Stage:Seed, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 7
  • Round size: Seed $2.7M–$4.9M; Series A $2.3M–$7.3M
  • Lead/follow: 0% lead, 100% 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.
  • MICLEDI Microdisplays — MICLEDI Microdisplays is an experienced executive in the semiconductor industry,
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Index Ventures
VC Fund · San Francisco, California, United States · 3 investments in Belgium Manufacturing startups

Index Ventures is an international venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security.

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Investment focus

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

Investor stats

  • Total investments: 1178
  • Round size: Seed $1.4M–$16M; Series A $5M–$38M; Series B $10M–$100M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — raised $117M in 2015

Portfolio highlights

  • Humu — Confidently achieve your most ambitious goals. Give everyone the personalized, step-by-step support they need to take the best route towards big, shared finish lines.
  • auxmoney — Auxmoney is an online peer-to-peer loan marketplace created to offer a means of exchange between people. Its lending platform enables private consumers to borrow from private investors for personal loans, thereby providing borrowers a bank free borrowing system and a return on investment for lenders.
  • Molecular Partners — Molecular Partners is a clinical-stage biopharmaceutical company working to advance modern medicine and significantly improve the management of serious diseases. They are developing a powerful new class of potent, specific and versatile small protein therapies called DARPin® therapeutics.
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Saffelberg Investments
VC Fund · Gooik, Vlaams-Brabant, Belgium · 3 investments in Belgium Manufacturing startups

Saffelberg Investments is an independent investment company with a 250 million EUR capital base. We focus on long term investments by taking both majority stakes and substantial minorities in fast-growing ventures through risk-bearing capital.

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Investment focus

  • Industry: Information Technology, Software, SaaS
  • Stage:Series A, Private Equity, Seed
  • Geography: Belgium, Australia, United States

Investor stats

  • Total investments: 22
  • Round size: Seed $1.5M–$2.4M; Series A $2.3M–$5.7M; Private Equity $1.2M–$40M
  • Lead/follow: 55% lead, 45% follow

Portfolio highlights

  • Deminor Litigation Funding — Leading Litigation Funder | European Litigation Funders Association and Association of Litigation Funders member. Contact Deminor for more information.
  • Iristick — Iristick smart glasses are the most balanced and lightweight on the market. A phone-tethered, comfortable hands-free solution for the deskless workforce.
  • Radian Arc — Radian Arc is a content delivery network (CDN) that sets up broadband services around the world to make it easier to send video or gaming data to consumers.
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QBIC II
VC Fund · Gent, Oost-Vlaanderen, Belgium · 3 investments in Belgium Manufacturing startups

Qbic II is an early-stage venture capital focus software, deep tech, biotech, and medtech sectors. Qbic II, launched in 2017, collaborates with a broad network of Belgian universities, research institutes, and hospitals. The fund expanded its investor base, increasing its size to nearly €60M. The investment period for Qbic II concluded in 2022.

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Investment focus

  • Industry: Biotechnology, Industrial, Construction
  • Stage:Series B, Venture - Series Unknown, Seed
  • Geography: Belgium

Investor stats

  • Total investments: 11
  • Round size: Seed $2.7M–$6.7M; Series B $22M–$64M; Venture - Series Unknown $1.5M–$51M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • 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),
  • MRM Health NV — MRM Health NV, is a biopharmaceutical company focused on the discovery and development of innovative therapeutics based on the human microbiome. MRM Health was incorporated early 2020 by MRM Technologies, a Center of Expertise for microbiome research based in the biotech cluster in Ghent, in a joint venture with the Flemish Institute ofBiotechnology (VIB), an excellence-based entrepreneurial life sciences research institute in Flanders, Belgium, that focuses on translating basic scientific results into pharmaceutical, agricultural and industrial applications.
  • EyeD Pharma — We are EyeD Pharma, a clinical stage pharmaceutical company dedicated to improve the life of patients suffering from ophthalmic diseases.
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The Faktory Fund
VC Fund · Liège, Liege, Belgium · 3 investments in Belgium Manufacturing 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, Venture - Series Unknown, Pre-Seed
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 24
  • Round size: Seed $700k–$4.2M; Venture - Series Unknown $2.1M–$22M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • IVEX — IVEX offers repeatable and scalable testing and validation data analytics solutions for ADAS/AD vehicles.
  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • 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
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Thibaud Elziere
Angel · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Manufacturing startups

Thibaud Elziere is the Founder of Hexa. He previously worked at Fotolia as a Founder. Thibaud Elziere attended Technical University of Berlin.

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Investment focus

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

Investor stats

  • Total investments: 106
  • Round size: Seed $713k–$5.4M; Pre-Seed $395k–$3.2M; Series A $3.3M–$16M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • OnParty — OnParty is a digital platform and mobile app designed for organizing, discovering, and managing parties and nightlife events. Users can easily create event pages, invite friends, and access exclusive nightlife experiences. The app also connects users with vetted professionals such as DJs, influencers, and artists to enhance event planning andexecution.
  • HrFlow.ai — Meet the first AI agents and Foundation models trained on billions of interview outcomes. The Hiring SuperIntelligence predicts your next hires and who's worth meeting, saving managers thousands of hours wasted on false positives.
  • DotBlocks — The first no-code simulation platform designed to accelerate your innovation workflow.
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Finance.Brussels
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Manufacturing 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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SFPIM
VC Fund · Brussel, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Manufacturing startups, 6 in the past 12 months

SFPIM investment firm that invests in technology and infrastructure.

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Investment focus

  • Industry: Biotechnology, Health Care, Semiconductor
  • Stage:Series A, Venture - Series Unknown
  • Geography: Belgium, France, Switzerland

Investor stats

  • Total investments: 26
  • Round size: Series A $8.6M–$57M; Venture - Series Unknown $11M–$251M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • D-CRBN — D-CRBN recycles CO2 for industrials through our patented CCU plasma technology. We use plasma to convert CO2 emissions to useful chemical building blocks. Our plasma process splits CO2 molecules into their original building blocks to make e-fuels, chemicals, or polymers to ultimately achieve a circular and more sustainable economy. Battling global warming will be the toughest environmental challenge that our society has ever faced. We have set our objectives to help reduce CO2 emissions, reaching a carbon-neutral society by 2050. Launch your CO2 recycling initiative at your plant, go net-zero and join us to Sparc* the new industrial revolution.
  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • Biotalys — Biotalys is an Agricultural Technology (AgTech) company that employs its proprietary Agrobody technology platform to develop crop and food protection products. The company develops a new generation of protein-based biocontrol solutions, shaping the future of sustainable and safe food supply. Biotalys' unique protein-based biocontrols combinethe high-performance characteristics of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications.It was incorporated in 2013 and is based in the Biotech hub in Ghent, Belgium.
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New Science Ventures
VC Fund · New York, New York, United States · 2 investments in Belgium Manufacturing startups

New Science Ventures is a venture capital firm that focuses on investments in life sciences and information technology companies. They invest in early and late stage companies taking novel scientific approaches to address significant unmet needs, while creating order-of-magnitude improvements in performances. The company also invests in companies using science-based innovations to address market needs in life sciences such as pharmaceuticals, biologics, medical devices, diagnostics, and IT. The team of the company expertise in strategy and corporate planning, operations and cost management, and leadership development.

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Investment focus

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

Investor stats

  • Total investments: 92
  • Round size: Series A $4M–$49M; Series B $8M–$52M; Series D $5M–$38M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Trellis Bioscience — Trellis Bioscience is developing native human antibodies to disrupt bacterial biofilms and address difficult-to-treat infections.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
  • One Silicon Chip Photonics — Explore OSCP photonic and MEMS IMUs for GNSS-denied applications. Compare products, review integration resources, and contact our team about an evaluation.
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Namur Invest
VC Fund · Namur, Namur, Belgium · 2 investments in Belgium Manufacturing startups

Namur Invest Group provides companies with financing solutions in various forms adapted to their needs, to strengthen their financial.

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Investment focus

  • Industry: Health Care, Medical Device, Auctions
  • Stage:Series A, Seed, Grant
  • Geography: Belgium, United States

Investor stats

  • Total investments: 8
  • Round size: Series A $658k–$18M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Invineo — Invineo design and development of a "smart machine" for catering and hospitality professionals.
  • VolitionRx — Revolutionizing early diagnosis and monitoring of life-altering diseases. Driving the future of epigenetics through nucleosome quantification.
  • Sunrise — Sunrise aims to bring simple answers to millions of people suffering from sleep disorders.We have developed a 3-gram sensor to diagnose sleep with gold standard quality. The technology offers a revolutionary new way to measure brain commands at night, with published clinical results never seen before. Studies demonstrate Sunrise is as accurate asin-lab sleep studies, at a fraction of the cost.Affecting one in three people, sleep disorders are extremely common. Sleep apnea is the most prevalent disease with almost 1 billion persons concerned. This condition leads to great body damage over time and yet remains undiagnosed in 80% of the cases.Patients, caregiver and insurers stand to benefit greatly from a solution to current highly cumbersome, expensive and time-consuming diagnostics systems.
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Knife Capital
VC Fund · Cape Town, NA - South Africa, South Africa · 2 investments in Belgium Manufacturing startups

Knife Capital is an independent growth equity investment firm focusing on innovation-driven ventures with proven traction. By leveraging knowledge, networks & funding, Knife accelerates the international expansion of entrepreneurial businesses that achieved a product/market fit in a beachhead market. Knife have offices in Cape Town andLondon.Knife invests via a consortium of funding partnerships, including SARS section 12J Venture Capital Company KNF Ventures and select family offices. Knife facilitated lucrative exits of local technology companies to the likes of General Electric, Visa, Garmin and Uber.

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Investment focus

  • Industry: Software, Information Technology, Education
  • Stage:Series A, Venture - Series Unknown
  • Geography: South Africa, United States, United Kingdom

Investor stats

  • Total investments: 40
  • Round size: Series A $2M–$15M; Venture - Series Unknown $1M–$2M
  • Lead/follow: 70% lead, 30% follow
  • Last fund: Likely still investing — raised $50M in 2022

Portfolio highlights

  • wamly — Wamly is the recruitment software, It has given us time back to focus on transformational work.
  • Cue — Cue is one customer service platform for live chat, chatbots and broadcasts across WhatsApp, Messenger, web chat, email and many other digital channels.
  • Optique Optometrists — Optique Optometrists provides comprehensive eye care services, including eye tests, prescription glasses, and contact lenses. The company offers affordable eye care solutions and has multiple branches across South Africa. Customers can book appointments online and access a wide range of eyewear options. Optique Optometrists focuses on deliveringquality vision care and ensuring customer satisfaction through professional services and convenient booking options.
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VIGO Ventures
VC Fund · Warszawa, Mazowieckie, Poland · 2 investments in Belgium Manufacturing startups

VIGO Ventures is an investment group supporting cutting edge R&D photonic teams in technology development and commercialization. The focus is on photonics and its relation to numerous applications spreading across industries on the ground and in space. We are drawn to experts dedicated and determined to scale globally.One of our strategicpartners is VIGO System (https://www.vigo.com.pl/en) a joint stock company and a global leader in production of high operating temperature IR detectors. VIGO System supplies unique products, manufactured with the use of internally developed technology and the aid of its highly specialized team. Our second strategic partner is Warsaw Equity Group (https://www.warsawequity.com/?lang=en) a privately held investment company with over 20 years track record of successfully supporting business ventures both by investing their own capital, as well as by providing ongoing operational and strategic support for active investment projects. We are a part of a larger ecosystem and offer long term business support for our portfolio companies which includes possible next round financing.

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Investment focus

  • Industry: Manufacturing, Electronics, Semiconductor
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Poland, Germany, Spain

Investor stats

  • Total investments: 13
  • Round size: Seed $1.1M–$7.7M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Aegiq — Scalable networking with quantum security and data links. Fibre QKD with optimised deployment costs and satellite QKD for maximum uptime | high-performance quantum photonics and single-photon sources - Aegiq
  • QustomDot — QustomDot brings unmatched colors through quantum dot (QD) color conversion. Our team combines QD synthesis, surface engineering and ink/photoresist formulation into patterned color conversion layers for emerging display technologies like microLED.
  • Fluence.technology — High-performance femtosecond lasers designed for seamless integration and drift-free stability in 24/7 operations.
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Bloc Ventures
VC Fund · London, England, United Kingdom · 2 investments in Belgium Manufacturing startups

Bloc is a specialist deep tech investor. We back ambitious entrepreneurs building products across cloud, connectivity, data science and security with the potential to impact whole industries.

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Investment focus

  • Industry: Software, Internet of Things, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, Israel, Belgium

Investor stats

  • Total investments: 24
  • Round size: Seed $653k–$6.8M; Series A $2.4M–$16M; Series B $25M–$27M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • AccelerComm — Our patented, market-leading IP solutions for 4G and 5G are configurable for quick, high-performance implementations across a wide range of applications.
  • Luluchain — Luluchain is a novel platform that blends emotional value and blockchain technology. It uses modular blockchain and AI technology to enable efficient emotional data management and personalized services.
  • Zeetta Networks — Zeetta Networks spun out of the renowned High-Performance Networks Group of Bristol University in 2015 to commercialise the group’s leading Network Virtualisation & Slicing technology. Our patent-protected software technology, NetOS®, enables network operators to virtualise their networks, and then automate operations and expose the network’scapabilities in a way that cannot be done today by any of Zeetta’s competitors. We have strong market traction and engaged with world leading players, including Deutsche Telecom, Orange, BT, Colt, Facebook, and Vodafone, amongst others. Moreover, NetOS® includes a powerful Virtualization Engine which uniquely operates across different types of networks. This enables the development of “network slices” i.e. logical and isolated sub-networks which can be used like real physical networks for the development of applications. Network Virtualization enables the most efficient use of the network resources because they can be shared among many users with guaranteed Quality of Service (QoS) for each service and user.
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invest.bw
VC Fund · Louvain-la-neuve, Vlaams-Brabant, Belgium · 2 investments in Belgium Manufacturing startups

invest.bw is a venture capital firm.

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Investment focus

  • Industry: Biotechnology, Electronics, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Belgium, United States

Investor stats

  • Total investments: 10
  • Round size: Seed $2.9M–$43M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
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NewSpace Capital
VC Fund · Münsbach, Luxembourg, Luxembourg · 2 investments in Belgium Manufacturing startups

Down-to-Earth Investments in Space. NewSpace Capital is a leading space-focused Private Equity firm. Learn more, here.

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Investment focus

  • Industry: Aerospace, Military, Space Travel
  • Stage:Series C, Series A
  • Geography: United States, France, Belgium

Investor stats

  • Total investments: 10
  • Round size: Series C $27M–$270M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: Likely still investing — raised $112M in 2022

Portfolio highlights

  • Cailabs — Cailabs is a global leader in free-space optical communications. Its dual-use Optical Ground Stations (OGS) are deployed worldwide by leading satellite operators and agencies such as SES, ESA and Contec. The company is among the very few globally to have demonstrated satellite-to-ground links fully compliant with the US Space Development Agency(SDA) standard, confirming its unique technological position.It also plays a central role in European sovereignty/defense programs such as Keraunos, developing secure OGS for next-generation optical satellite links.Founded in 2013, Cailabs has raised over €100M and grown to 170 employees (as of Dec 2025). Cailabs has a global presence with 3 offices : its HQ based in Rennes (Brittany, France), 1 office in Paris (France) and 1 office in Washington DC (Arlington, VA).
  • CesiumAstro — CesiumAstro builds high-throughput, software-defined phased array communication payloads for airborne and in-orbit platforms.
  • FibreCoat — Making the future affordable. EM-Shielding Composites Sustainable https://fibrecoat.de/wp-content/uploads/2022/01/20211004_FibreCoat_web.mp4 Shedule a meeting to solve your problem Mobility Affordable and damage-resistant materials for integrated EMI-shielding and weight reduction in EVs. Construction Easy retrofit shielding of electronics and people from 5G and other types of EM radiation. Government Specialized yarns for sensors, circuits, shielding and countermeasure materials. With
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WE International
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium Manufacturing startups, 8 in the past 12 months

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, Energy, Biotechnology
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, United States, France

Investor stats

  • Total investments: 25
  • Round size: Seed $2.2M–$43M; Series A $10M–$57M; Venture - Series Unknown $16M–$251M
  • Lead/follow: 24% lead, 76% follow

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.
  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
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imec.istart Future Fund
VC Fund · Antwerp, Antwerpen, Belgium · 2 investments in Belgium Manufacturing startups

imec.istart Future Fund is an independent early-stage venture capital fund.

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Investment focus

  • Industry: Health Care, Medical Device, Satellite Communication
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Belgium, United Kingdom

Investor stats

  • Total investments: 10
  • Round size: Seed $1.2M–$5.7M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • EDGX — EDGX, founded in 2023 in Ghent, is a Belgian Space Tech company developing high-speed edge computing units for satellites. Its NVIDIA-powered Sterna Computer and SpaceFeather software enable real-time, AI-driven on-orbit data processing for applications in communication, Earth observation, and intelligence.
  • nxgsat — We build interoperable satellite networks.
  • OnTracx — OnTracx measures and manages the load your body experiences, step by step. Our sensor captures real-time load during any run, bringing lab-level precision to real-world conditions. The app empowers runners to monitor their progress, while OnTracx Pro gives professionals the tools for load screenings, training program creation, and effortless athlete follow-up.
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Greyhound Capital
VC Fund · London, England, United Kingdom · 2 investments in Belgium Manufacturing startups

Global growth equity investment firm focused on technology-enabled businesses improving everyday lives

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Investment focus

  • Industry: Financial Services, FinTech, Banking
  • Stage:Series B, Seed, Series A
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 74
  • Round size: Seed $1M–$24M; Series A $7.4M–$34M; Series B $16M–$66M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Jota — Jota: The platform handles finances for individual entrepreneurs and business owners by allowing them to instantly pay, collect receivables, and manage their day-to-day operations with voice notes, text messages, and images through an AI-first chat conversation. All tasks are free and executed in seconds. Designed to save time and money, Jotaempowers its clients to focus on what truly matters to them.
  • Doss — Tools for teams that work in the real world. Level-up your email and spreadsheet-centric processes with our Adaptive Resource Platform (ARP).
  • Pivot — Pivot operates as a fintech company.
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Capricorn Partners
VC Fund · Leuven, Vlaams-Brabant, Belgium · 2 investments in Belgium Manufacturing 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, Health Care, Software
  • Stage:Series A, Series B
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 122
  • Round size: Series A $3.3M–$18M; Series B $5.3M–$45M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely actively investing — fresh fund, raised $53M in 2025

Portfolio highlights

  • HighLife — HighLife is driven by a mission to deliver innovative treatment options to patients suffering from heart valve diseases.
  • Endo Tools Therapeutics — Endo Tools Therapeutics is dedicated to the development of innovative devices that provide therapeutic interventions for gastric conditions
  • Delft Advanced Biorenewables — We enable the bio-economy by improving the productivity of fermentations with our in-situ product recovery (ISPR) technology.
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XAnge
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Manufacturing startups

XAnge is a BCorp-certified early-stage investment fund managing €700 million, with offices in Paris, Berlin, and Brussels. The fund backs European founders who aim to transform daily life through technology, investing between €500,000 and €10 million from the seed stage onwards. XAnge’s investment focus spans deeptech, health, fintech, SaaS, and e-commerce, with a portfolio including Lydia, Welcome to the Jungle, Believe, MrSpex, and Ledger. XAnge is the innovation-driven venture capital brand of the Siparex Group.

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Investment focus

  • Industry: Software, SaaS, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: France, Germany, Belgium

Investor stats

  • Total investments: 243
  • Round size: Seed $1.1M–$8M; Series A $3M–$22M; Series B $6M–$75M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — raised $261M in 2021

Portfolio highlights

  • ELDIM — Eldim proposes photometric and calorimetric products of instrumentation allowing to qualify the ergonomic parameters and the quality of the image of the flat screens. Its customers (manufacturers of components or sreen-Sharp, Sony, Samsung, -or integrators-IBM, Apple, Valeo, Honeywell, Nokia, Motorola-) are mainly foreigns.
  • Procuros — More and more sales teams struggle with supplier portals. We help you integrate digitally with common supplier portals and consolidate all order documents.
  • Intent Technologies — Intent Technologies provides a dedicated service platform for real estate players that allows them to optimize the operation of a heritage and build and distribute their services. The platform integrates a growing connected ecosystem including real estate managers (social and private landlords, trustee, real estate, communities, etc.), serviceproviders (facility management, energy, elevators, personal services, insurance, etc.), publishers business software (BIM, ERP, CRM, CMMS, BI, etc.) and IoT solution providers.
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VCT Vector Gestion
VC Fund · Nyon, Vaud, Switzerland · 2 investments in Belgium Manufacturing startups

VCT Vector Gestion is a wealth management company that offers financial services.

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Investment focus

  • Industry: Computer, Electronics, Manufacturing
  • Stage:Seed
  • Geography: Belgium

Investor stats

  • Total investments: 2
  • Round size: Seed $21M–$43M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Vertical Compute — Vertical Compute offers chiplet-based technology that cuts data movement to achieve up to 80% energy savings.
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Francis Nappez
Angel · Paris, Ile-de-France, France · 2 investments in Belgium Manufacturing startups

Francis leads the technical and product evolution of BlaBlaCar and has been instrumental in building the platform since 2006, allowing it to grow from hosting a few thousand members to millions today. He knows how to turn ambitious ideas into reality, and believes in building robust solutions which can adapt to fast growth and stay relevant for thelong-term. Francis cares about building agile cross-functional teams across locations to deliver efficiently on ambitious objectives. Pragmatic and result-oriented, he is driven by the opportunity to create disruptive solutions which better the user experience. Before joining BlaBlaCar, Francis led major technical developments for big names in European consumer internet which drove impactful disruptions in their respective sectors, including Free and Meetic. Francis holds a degree in Technology and Communications Research from the Joseph Fourier University. Find him @fnapz.

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Investment focus

  • Industry: Software, Internet, SaaS
  • Stage:Seed, Angel, Series A
  • Geography: France, United States, Belgium

Investor stats

  • Total investments: 16
  • Round size: Seed $439k–$3.9M; Angel $658k–$1.1M; Series A $1.2M–$11M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Alvie — Alvie creates products based on sensors and an AI platform to assist farmers in adjusting pesticide doses.
  • Inarix — Inarix utilizes the latest technologies in artificial intelligence and image analysis to develop its technology. Your pocket laboratory on your smartphone. You can get reliable results from your samples in seconds by snapping a picture. The monitoring platform for your flows is global and instantaneous. Management tools tailored to your needs.
  • Imagination Machine — Imagination Machine Imagination Machine is a startup studio.
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Bertrand Jelensperger
Angel · Paris, Ile-de-France, France · 2 investments in Belgium Manufacturing startups

Bertrand Jelensperger is the Co-Founder and Advisory Board at TheFork.

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Investment focus

  • Industry: Apps, Software, E-Commerce
  • Stage:Seed, Series A, Angel
  • Geography: France, Spain, Belgium

Investor stats

  • Total investments: 15
  • Round size: Seed $1.1M–$7.7M; Angel $1M–$2.7M; Series A $4.4M–$11M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Malou — Malou offers food marketing and digital marketing solutions for restaurants. The company also offers content management, restaurant marketing, reputation management, presence management, and SEO solutions.
  • Kiliba — 100% automated emailing platform: design of html templates in your colours, sending of personalised emails, marketing automation workflows, enriched CRM
  • Neptune Elements — Neptune Elements offerFrench seaweed of controlled origin, with exceptional taste and culture.
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The CoFoundry
VC Fund · Antwerp, Antwerpen, Belgium · 2 investments in Belgium Manufacturing startups

The CoFoundry helps entrepreneurs transform their ideas into sustainable companies. Some say we cut through the funding hype and work hard to give your business a sustainable future.

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Investment focus

  • Industry: Software, SaaS, Security
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 14
  • Round size: Series A $912k–$4.3M
  • Lead/follow: 36% lead, 64% 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.
  • 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.
  • Vaultspeed — Save your teams months of headache with a no-code approach to automate your multi-source data integration, Data Vault modeling & ETL/DDL code generation.
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LRM
VC Fund · Hasselt, Limburg, Belgium · 2 investments in Belgium Manufacturing 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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Harold Mechelynck
Angel · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Manufacturing startups

Harold Mechelynck is Founder at Ogone.

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Investment focus

  • Industry: FinTech, Finance, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: France, Belgium, United States

Investor stats

  • Total investments: 5
  • Round size: Seed $658k–$3M; Series A $3M–$11M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Cowboy — Meet Cowboy, the connected electric bike for urban riders. With an intuitive motor to sense your pedaling force and a companion app in the cockpit to guide your ride, tune into a newfound freedom in the city.
  • Pockit — Open a prepaid account in 3 minutes online or in-app, get your contactless prepaid card in 2 working days with no credit check.
  • Spreedly — Spreedly's Payments Orchestration Platform lets you connect to payment gateways in over 100 countries with a single API connection.
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Fred Potter
Angel · Paris, Ile-de-France, France · 2 investments in Belgium Manufacturing startups

Engineer from Telecom ParisTech and holder of a PHD in Microelectronics, Fred is a passionate entrepreneur who has been reinventing objects we use in our everyday lives for over 20 years. In 1999, he started CIRPACK, a telecommunications supplier, later bought by TECHNICOLOR; and WITHINGS, sold to NOKIA, before creating NETATMO in 2011. His vision:a company where every employee knows how the business and projects grow and where daily life is driven by a strong sense of innovation, empowerment, hard work and sharing.

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Investment focus

  • Industry: Artificial Intelligence, SaaS, Software
  • Stage:Seed, Series A
  • Geography: France, Belgium

Investor stats

  • Total investments: 6
  • Round size: Seed $1.4M–$3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Cowboy — Meet Cowboy, the connected electric bike for urban riders. With an intuitive motor to sense your pedaling force and a companion app in the cockpit to guide your ride, tune into a newfound freedom in the city.
  • Gleamer — Gleamer delivers next-generation AI solutions for medical imaging, empowering radiologists to diagnose faster, with greater accuracy, across every modality.
  • Renovation Man — Renovation Man is a provider of services intended to revolutionize the world of renovation work.
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Buysse & Partners
VC Fund · Antwerpen, Antwerpen, Belgium · 2 investments in Belgium Manufacturing startups

Buysse and Partners is a private equity investment group based in Antwerpen that offers smart equity, a growth fund, and partnerships.

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Investment focus

  • Industry: Software, Cloud Computing, FinTech
  • Stage:Series A, Seed, Venture - Series Unknown
  • Geography: Belgium, United Kingdom, The Netherlands

Investor stats

  • Total investments: 6
  • Round size: Seed $1.1M–$1.9M; Series A $4M–$11M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $25M in 2012

Portfolio highlights

  • Twikit — Deliver unforgettable customer experiences with real time 3D product configurators, linked to your existing order and manufacturing flows.
  • Bluebee — Bluebee is a leading provider of high performance genomics solutions, enabling research and clinical labs to substantially reduce cost and time-to-diagnose. Bluebee provides a unique cloud-based accelerated genomics platform to enable fast, efficient and affordable processing of large volumes of genomics data. Genetic analyses are currentlyundergoing extreme changes as a result of revolutionary developments in next generation DNA sequencing technology. While personalized treatment comes with great promises, routine clinical implementation of whole genome based diagnostics is still faced with major technological and biological challenges: the ever-growing amounts of data generated, the inherent need for faster data processing and deep analytics, and the increasing necessity of flexibility and reliability resulting from the vastness of the application spectrum.
  • moonbird — Hold moonbird in your hand and breathe along. A tactile, screen-free breathing coach trusted by 100,000+ users for less stress, better sleep, and more calm.
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SmartFin
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Manufacturing 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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FPIM
VC Fund · Boca Raton, Florida, United States · 1 investments in Belgium Manufacturing 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, Medical
  • Stage:Seed, Series B
  • Geography: Belgium

Investor stats

  • Total investments: 4
  • Round size: Seed $8.2M–$10M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • 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.
  • MICLEDI Microdisplays — MICLEDI Microdisplays is an experienced executive in the semiconductor industry,
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Xavier Dewulf
Angel · Kuurne, West-Vlaanderen, Belgium · 1 investments in Belgium Manufacturing startups

Xavier Dewulf, G&V Energy Group.

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Investment focus

  • Industry: Cycling, Manufacturing, Transportation
  • Stage:Seed
  • Geography: Belgium

Investor stats

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

Portfolio highlights

  • ASKA — ASKA manufacturers e-bike that travels 45 km/h, regardless of the weather or road conditions.
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Steven Buyse
Angel · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Manufacturing startups

Partner, joined CVC in 2001. Steven is a member of the CVC Belgium team and is based in Brussels. Prior to joining CVC, he spent five years at ING Investment Banking and four years as CFO of Corialis. Steven holds a commercial engineering degree from KU Leuven and an MBA from Vlerick School for Management, Belgium.

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Investment focus

  • Industry: Cycling, Marketing, Advertising
  • Stage:Seed, Private Equity
  • Geography: Belgium, United States

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • ASKA — ASKA manufacturers e-bike that travels 45 km/h, regardless of the weather or road conditions.
  • Aleph Group — Aleph is the largest global digital media partner. In over 70 markets worldwide, we are trusted to connect the biggest players in digital media with the advertisers that rely on them. Aleph helps advertisers maximize the value of their investment through a complete service ecosystem - comprising innovative proprietary technology, digital expertiseand deeply embedded local market knowledge. Our teams help brands to master the leading digital platforms, bringing them closer to their customers. These services are delivered through our portfolio of digital media service brands: IMS; Httpool; WISE.BLUE; and Social Snack.
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Bob Verbeeck
Angel · 1 investments in Belgium Manufacturing startups

Bob Verbeeck, Founder & CEO at Golazo.

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Investment focus

  • Industry: Cycling, Manufacturing, Transportation
  • Stage:Seed
  • Geography: Belgium

Investor stats

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

Portfolio highlights

  • ASKA — ASKA manufacturers e-bike that travels 45 km/h, regardless of the weather or road conditions.
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Nuhma
VC Fund · 1 investments in Belgium Manufacturing 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, Venture - Series Unknown
  • 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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Aperam Ventures
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Belgium Manufacturing startups

Aperam Ventures, a subsidiary of the steel company Aperam Group

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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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Lune Ventures
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Manufacturing 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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Manufacturing Investor funding in Belgium at a glance

Stats across 151 deals from 210 investors.

210
investors
in Belgium Manufacturing startups
151
deals
in Belgium Manufacturing startups
$5.4M
median round
in Belgium Manufacturing startups
40%
lead investors
lead at least one round
23%
Seed
most common funding stage
89/11
VC / Angel
share of investor count

Access all 210 investors in Belgium Manufacturing startups.

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