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Top 50 Manufacturing VC Funds & Investors in Belgium (October 2026)

The most active venture capital funds 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
Industrya
VC Fund
5 France, Belgium Seed, Series A, Venture - Series Unknown Industrial, Manufacturing, Logistics $946k–$6.7M
Gemma Frisius Fund
VC Fund
5 Belgium, France, United Kingdom Seed, Series A, Series B Biotechnology, Medical, Software $500k–$84M
S.R.I.W.
VC Fund
5 Belgium, United States, Spain Venture - Series Unknown, Series A Health Care, Biotechnology, Manufacturing $422k–$32M
Finindus
VC Fund
5 Belgium, United States, Sweden Series A, Venture - Series Unknown, Seed Manufacturing, Industrial, Renewable Energy $1.3M–$27M
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
Eurazeo
VC Fund
3 France, United States, United Kingdom Venture - Series Unknown, Seed, Series B Software, Information Technology, Health Care $3.2M–$156M
Index Ventures
VC Fund
3 United States, United Kingdom, France Series A, Series B, Seed Software, E-Commerce, Internet $1.4M–$100M
KBC Focus Fund
VC Fund
3 Belgium, The Netherlands, France Seed, Series A, Venture - Series Unknown Semiconductor, Manufacturing, Electronics $1.2M–$22M
Noshaq
VC Fund
3 Belgium, France, United States Seed, Series A Biotechnology, Medical Device, Medical $5.3M–$43M
The Faktory Fund
VC Fund
3 Belgium, France, United States Seed, Venture - Series Unknown, Pre-Seed Software, Analytics, Information Technology $700k–$22M
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
Fidimec
VC Fund
3 Belgium Seed, Series A Industrial, Semiconductor, Medical $2.3M–$7.3M
SFPIM
VC Fund
3 Belgium, France, Switzerland Series A, Venture - Series Unknown Biotechnology, Health Care, Semiconductor $8.6M–$251M
Finance.Brussels
VC Fund
3 Belgium, France Seed, Series A, Venture - Series Unknown Software, Information Technology, SaaS $1.5M–$16M
Knife Capital
VC Fund
2 South Africa, United States, United Kingdom Series A, Venture - Series Unknown Software, Information Technology, Education $1M–$15M
Buysse & Partners
VC Fund
2 Belgium, United Kingdom, The Netherlands Series A, Seed, Venture - Series Unknown Software, Cloud Computing, FinTech $1.1M–$11M
VIGO Ventures
VC Fund
2 Poland, Germany, Spain Seed, Pre-Seed, Series A Manufacturing, Electronics, Semiconductor $1.1M–$7.7M
New Science Ventures
VC Fund
2 United States, United Kingdom, Belgium Series B, Series A, Series D Biotechnology, Health Care, Medical $4M–$52M
SmartFin
VC Fund
2 Belgium, The Netherlands, Turkey Series A, Series B, Seed Software, SaaS, Information Technology $549k–$30M
VCT Vector Gestion
VC Fund
2 Belgium Seed Computer, Electronics, Manufacturing $21M–$43M
The CoFoundry
VC Fund
2 Belgium, The Netherlands, United States Seed, Series A, Venture - Series Unknown Software, SaaS, Security $912k–$4.3M
Greyhound Capital
VC Fund
2 United States, India, United Kingdom Series B, Seed, Series A Financial Services, FinTech, Banking $1M–$66M
LRM
VC Fund
2 Belgium, The Netherlands Seed Manufacturing, Drones, Sensor
invest.bw
VC Fund
2 Belgium, United States Seed, Pre-Seed, Series A Biotechnology, Electronics, Health Care $2.9M–$43M
Capricorn Partners
VC Fund
2 Belgium, The Netherlands, United States Series A, Series B Biotechnology, Health Care, Software $3.3M–$45M
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
Bloc Ventures
VC Fund
2 United Kingdom, Israel, Belgium Seed, Series A, Series B Software, Internet of Things, Financial Services $653k–$27M
Namur Invest
VC Fund
2 Belgium, United States Series A, Seed, Grant Health Care, Medical Device, Auctions $658k–$18M
XAnge
VC Fund
2 France, Germany, Belgium Seed, Series A, Series B Software, SaaS, Health Care $1.1M–$75M
WE International
VC Fund
2 Belgium, United States, France Seed, Series A, Venture - Series Unknown Health Care, Energy, Biotechnology $2.2M–$251M
NewSpace Capital
VC Fund
2 United States, France, Belgium Series C, Series A Aerospace, Military, Space Travel $27M–$270M
Finorpa
VC Fund
1 France, United States, Belgium Seed, Venture - Series Unknown Manufacturing, Software, Industrial $212k–$8.6M
Sensinnovat
VC Fund
1 Belgium Series A, Series B Medical, Diabetes, Health Care
SHIGERU AG
VC Fund
1 United States, Japan, Belgium Seed, Pre-Seed, Series A Natural Language Processing, Virtual Reality, Blockchain
Flanders Future Techfund
VC Fund
1 Belgium Seed Medical, Semiconductor, Clinical Trials
TOKAI
VC Fund
1 Japan, Belgium Angel, Series B, Series C Eyewear, Medical, Robotics
Spreds
VC Fund
1 Belgium, France Seed, Series A, Series B Information Technology, Food and Beverage, Software $97k–$2.3M
SFPI-FPIM
VC Fund
1 Belgium, United States, The Netherlands Series B, Series A Health Care, Biotechnology, Medical $4.4M–$75M
Bosch Ventures
VC Fund
1 United States, China, Israel Series B, Series A Software, Information Technology, Artificial Intelligence
Sniper Investments
VC Fund
1 Belgium, The Netherlands Seed, Series A Software, CRM, Video
PMV Tina Fund
VC Fund
1 Belgium, Switzerland, The Netherlands Series A, Series D, Series E Manufacturing, Eyewear, Printing
Nuoyan Capital
VC Fund
1 China, Belgium Seed, Series A Manufacturing, Semiconductor, Electronics
Rockley Group
VC Fund
1 United States, United Kingdom Seed Medical, Electronics, Health Care
Access all 187 VC funds 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: 160
  • Round size: Seed $1M–$4M; Series A $3M–$40M; Series B $6.6M–$43M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Logibot — Software platform to deploy human-like robotic labor in existing warehouses, without vendor lock-in.
  • 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.
  • Borro — Cashless deposit system
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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. 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, 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, 7 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: 55
  • Round size: Seed $3.3M–$23M; Series A $9.1M–$72M; Series B $12M–$100M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $322M in 2024

Portfolio highlights

  • Eyeo — eyeo revolutionizes imaging with color splitter sensors. Capture sharper, brighter images in low light using optical waveguide innovation, discover how it works
  • 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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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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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 — Beyond bioinformatics. Building intelligent platform solutions for mass spectrometry imaging data analysis. #AI4MSI
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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 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: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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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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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.

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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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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 thenecessary 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: 384
  • 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 an R&D company that specializes in consulting, clinical trials, therapeutic research, data management, and medical writing.
  • 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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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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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: 26
  • Round size: Seed $1.2M–$8.2M; Series A $2.9M–$17M; Venture - Series Unknown $1.5M–$22M
  • Lead/follow: 27% lead, 73% 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.
  • Hummink — Dream Smaller Now : Experience a revolution with Hummink's world's smallest fountain pen. Redefine micro-scale writing with our innovative technology.
  • 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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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 — Discover FlexiO: Balancing the energy grid used to be reserved for large power plants, but thanks to FlexiO, end-users can now also play a role.
  • 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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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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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 — Founded in 1990, Deminor is a leading privately-owned and international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, and Luxembourg. Deminor’s name, derived from the French ‘défense des minoritaires’, reflects its origins in providing services to minority shareholders. Deminor is still very muchdefined by the pursuit of good causes and its determination to restore justice for clients.Combining skill sets from 16 different nationalities and 14 languages, Deminor has funded cases in 18 jurisdictions including the Americas, the Middle East and offshore centres such as the Cayman Islands and Bermuda. With specialists in arbitration, intellectual property, competition, corporate & post-M&A, investments, enforcement, and tax litigation, Deminor has achieved positive recoveries for clients in more than 81% of the cases it has funded, against an industry average of 70%.In addition to funding one-to-one commercial claims, Deminor originates, syndicates and funds group actions. In 2018, Deminor was instrumental in reaching the largest ever settlement in Europe (EUR 1.3 bn in the Fortis case). Equally, the company does not shy away from being a first-mover in jurisdictions where funding has not been tested. It was the first funder to support collective actions in Italy and reached a landmark settlement in the Olympus securities action in Japan (2017).Deminor is immensely proud of its diverse client base, which includes some of the world’s most innovative and entrepreneurial companies, in addition to globe’s leading public and private pension funds, asset managers, sovereign wealth funds. Out of the ten biggest investors worldwide, four are recurring clients of Deminor.
  • 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 · 3 investments in Belgium Manufacturing startups

QBIC II

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Investment focus

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

Investor stats

  • Total investments: 10
  • Round size: Series B $22M–$64M; Venture - Series Unknown $1.5M–$51M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Sentea — Sentea makes fibre optic Sensing affordable to the industry and enables continuous monitoring even in harsh environments.
  • 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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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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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 Operator of a climate technology company that aims to transform carbon into sustainable raw resources.
  • 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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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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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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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 — Delivering a streamlined way for users to analyze, explore, and manage large-scale genomics data in the cloud.
  • moonbird — Hold moonbird in your hand and breathe along. A tactile, screen-free breathing coach trusted by 80,000+ users for less stress, better sleep, and more calm.
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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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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 companiesusing 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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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: 64
  • Round size: Seed $549k–$6.7M; Series A $5M–$13M; Series B $3M–$30M
  • Lead/follow: 45% lead, 55% 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 an opensource, real time fraud and compliance automation engine designed for fintechs and financial institutions.
  • BrightAnalytics — Intuitive, reliable and fast. Consolidated reporting from BrightAnalytics.
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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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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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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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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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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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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: 121
  • 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

  • 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.
  • Trillium Renewable Chemicals — Trillium Renewable Chemicals manufactures chemicals from renewable feedstocks used in a variety of industrially important applications. The company was founded in 2021 and based in Knoxville, Tennessee.
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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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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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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 — We are dedicated to revolutionizing the diagnosis and monitoring of life-altering diseases by advancing the science of epigenetics.
  • 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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XAnge
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Manufacturing startups

XAnge is a Franco-German team of venture capital investors that manages €450 million and invests in digital, deeptech, and impact startups.It is the innovation brand of the Siparex group, a major player in French private equity. XAnge is a key European investor in early-stage startups and is looking for game-changing startups and entrepreneurswho rock the code[s].The Paris, Ile-de-France-located company was founded in 2004.

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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: 240
  • 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.
  • Skello — Skello is the The AI HR solution for frontline teams. HR tools were designed for offices, yet 55% of the workforce works on their feet and deserves technology designed for the field. Our mission is to improve their daily lives. For managers and HR directors, Skello offers seamless management from hiring to the payslip: our AI automatestime-consuming tasks so they can anticipate and supervise while maintaining full control. For teams, Skello guarantees a transparent and collaborative experience from their very first day. In July 2026, we reached a major milestone with the announcement of €200 million in funding to accelerate our development. After 10 years spent listening to our customers, this new chapter solidifies our conviction: technology must assist and facilitate work, without ever replacing humans. Our ambition is to be the go-to AI HR management solution for all frontline teams in Europe.
  • 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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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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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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Finorpa
VC Fund · Lens, Nord-Pas-de-Calais, France · 1 investments in Belgium Manufacturing startups

Finorpa is a venture capital firm based in France that finances seed and early stage investments of Small and Medium Enterprises.

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Investment focus

  • Industry: Manufacturing, Software, Industrial
  • Stage:Seed, Venture - Series Unknown
  • Geography: France, United States, Belgium

Investor stats

  • Total investments: 100
  • Round size: Seed $212k–$2M; Venture - Series Unknown $332k–$8.6M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — raised $60M in 2004

Portfolio highlights

  • Extensee — Extensee is a French company that specializes in providing comprehensive drone solutions tailored for civil, industrial, and governmental applications. Their offerings include drones (UAVs) and sensors, airworthiness management, maintenance services, logistics support, expert personnel deployment, and supply of spare parts. This enables clients toeffectively implement drone-based operations across various sectors, ensuring operational readiness and compliance with regulatory standards.​
  • Beyond Green — Beyond Green is an agri-food group specializing in agricultural transition and sustainable food.
  • Sophie Lebreuilly — Sophie Lebreuilly is a traditional pastry bakery, kneading and bread making on the spot, all day long. A gourmet artisan pastry shop and a fast food place: pizza, burger, pasta, salads, sandwiches, breakfast.
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Sensinnovat
VC Fund · 1 investments in Belgium Manufacturing startups

Sensinnovat

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Investment focus

  • Industry: Medical, Diabetes, Health Care
  • Stage:Series A, Series B
  • Geography: Belgium

Investor stats

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

Portfolio highlights

  • Azalea Vision — Azalea Vision is a medical manufacturer designing contact lenses with an active light management system for people with ocular disorders.
  • Indigo Diabetes — Revolutionizing the management of chronic disease.
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SHIGERU AG
VC Fund · Princeton, New Jersey, United States · 1 investments in Belgium Manufacturing startups

SHIGERU AG is a technology company that leverages technological innovation to enable a new way of life.

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Investment focus

  • Industry: Natural Language Processing, Virtual Reality, Blockchain
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Japan, Belgium

Investor stats

  • Total investments: 7
  • Lead/follow: no public data

Portfolio highlights

  • DR. PECKER INC. — DR. PECKER is AI & generative AI driven, smart clinics & health tech software solutions, platform and services provider. The industries the company tackles are augmented & immersive user experience in smart clinics & heath tech, medical research, humanity with Meta Verse & Multi Verse extensions.
  • RAI — RAI is a mixed reality, generative AI, metaverse, and multiverse software solutions, platforms, and services provider. The industries the company tackles are augmented workspaces, heath tech, media and streaming, humanity, XR/MR + AI, and Meta Verse
  • Thunderbirds — Fintech | XR/MR + AI | Metaverse & Multiverse
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Flanders Future Techfund
VC Fund · 1 investments in Belgium Manufacturing startups

Flanders Future Techfund operates as an investment firm.

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Investment focus

  • Industry: Medical, Semiconductor, Clinical Trials
  • Stage:Seed
  • Geography: Belgium

Investor stats

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

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.
  • Flindr Therapeutics — Immagene develops personalized cancer immunotherapies to fight multiple cancer type.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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TOKAI
VC Fund · Gifu, Gifu, Japan · 1 investments in Belgium Manufacturing startups

TOKAI specializes in rental of dispensing pharmacies for hospital linen supplies and outsourcing of outsourced nursing care.

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Investment focus

  • Industry: Eyewear, Medical, Robotics
  • Stage:Angel, Series B, Series C
  • Geography: Japan, Belgium

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • CaTe — CaTe is based in Tokyo. CaTe develops and manufactures a Digital Therapeutic (DTx) for remote cardiac rehabilitation. Their invention allows heart disease patients to safely and successfully complete cardiac rehabilitation utilizing standing exercise in a confined space, such as at home, without the use of ergometers or similar instruments.
  • INNOPHYS — INNOPHYS is developing, designing, manufacturing, consulting and distributing robotics equipment for various industries. Their flagship product, Muscle Suit® is a wearable robot supported by artificial muscle technology, well known for its high quality and reasonable price compared with the same kind of support exoskeletons. The company is planningto expand its business to Asia Pacific, Europe, and North America.
  • Morrow Optics — Looking for the next big thing in eyewear technology? Check out Morrow's electrified progressives, also known as autofocals! These innovative glasses switch focus length with a touch of button, providing you with seamless vision from near to far. Learn more about this technology on Morrow's website.
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Spreds
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Manufacturing startups

We empower high-potential entrepreneurship and democratize venture capital. Discover promising start-ups & SMEs and invest alongside business angels.

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Investment focus

  • Industry: Information Technology, Food and Beverage, Software
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, France

Investor stats

  • Total investments: 44
  • Round size: Seed $97k–$627k; Series A $248k–$2.3M; Series B $165k–$910k
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Jelloow — Jelloow your virtual marketing navigator. Matching brands with likeminded marketing agencies.
  • PlayTreks — Supercharge your music business with PlayTreks, the all-in-one workspace for music professionals. Built for indie artists, artist managers and label teams.
  • NietsCo — NietsCo. is the home of Botaniets Gin 0.0%, a leading selection of alcohol-free products, carefully distributed to the world's best restaurants, concept stores, shops and consumers.
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SFPI-FPIM
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Manufacturing startups

The Federal Holding and Investment Company (SFPI-FPIM) centrally manages the federal government’s shareholdings, cooperates with the government on specific projects and pursues its own investment policy in the interests of the Belgian economy.

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Investment focus

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

Investor stats

  • Total investments: 40
  • Round size: Series A $4.4M–$46M; Series B $11M–$75M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Cohabs — We create sustainable & community-driven shared homes around the world for young workers and interns. Join our community.
  • Axelera AI — Axelera AI is developing a game-changing hardware and software platform for AI.Incubated in 2019 by the emerging technologies leader Bitfury and joined by the leading nano-technology group imec in early 2020, Axelera AI launched as a new company in 2021. Headquartered in the AI Innovation Center of the High Tech Campus in Eindhoven, Axelera AIhas R&D offices in Belgium, Switzerland, and Italy. Its team of experts in AI software and hardware hail from top AI firms and Fortune 500 companies.
  • Tangent Works — Create predictive models in seconds for faster and better forecasting & anomaly detection with TIM InstantML.
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Bosch Ventures
VC Fund · Stuttgart, Baden-Wurttemberg, Germany · 1 investments in Belgium Manufacturing startups

Invented for life: we want our products to spark enthusiasm, improve quality of life, and help conserve natural resources.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series B, Series A
  • Geography: United States, China, Israel

Investor stats

  • Total investments: 140
  • Lead/follow: no public data

Portfolio highlights

  • Corvic AI — Corvic AI is pioneering a new era of Data-Centric AI Cognitive Infrastructure by transforming raw enterprise data into AI-ready intelligence.
  • Astronomer — Astronomer’s mission is to help organizations realize the potential of Apache Airflow. Building on the foundation of Astronomer Cloud, the market-leading Airflow as a Service offering, Astronomer is developing new standards of scale, performance, and reliability and leading the way to enterprise-grade Airflow.
  • iPronics — Discover the power of lossless optical switches for low latency and flexible AI architectures. Increase density and reduce power consumption with our innovative technology.
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Sniper Investments
VC Fund · Mechelen-bovelingen, Limburg, Belgium · 1 investments in Belgium Manufacturing startups

Formed in 2011, Sniper Investments is a lean, transparent value investment fund with a long term philosophy. The fund builds on its management team’s full cycle track record in successfully raising, investing, managing and exiting Venture Capital and Private Equity portfolio’s in both up- and down cycles.Sniper Investments is a venture capitalfund investing in early stage companies primarily via equity participation. the fund combines the joint experience of Privast Capital Partners and Partners @ Venture.the geographical scope is determined by the need to be able to be close to the investee companies.

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Investment focus

  • Industry: Software, CRM, Video
  • Stage:Seed, Series A
  • Geography: Belgium, The Netherlands

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • NGDATA — NGDATA is the consumer intelligence management solutions company that empowers enterprises seeking greater customer lifetime value to drive continuous, actionable insights to enable sales and increase customer loyalty.The company does this through its unique combination of Big Data management and machine learning technologies in a singleintegrated solution.Recently named one of Bank Systems and Technology Magazine’s “Top 7 Big Data Players to Watch,” NGDATA is headquartered in Ghent, Belgium with offices in New York City and San Francisco. The company provides solutions to data-driven sectors such as financial services, retail and media/publishing.
  • Divitel — Divitel is your partner for all things video; cutting-edge technology, consultancty, end-to-end deployments and continuously improving operations solutions.
  • Materialise — Materialise delivers 3D printing solutions for flexible volume manufacturing of industrial applications while continuing to drive mass personalization in healthcare.
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PMV Tina Fund
VC Fund · 1 investments in Belgium Manufacturing 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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Nuoyan Capital
VC Fund · Shanghai, Shanghai, China · 1 investments in Belgium Manufacturing startups

Nuoyan Capital is a premier industrial investment institution specializing in optoelectronic displays, smart cars, compound semiconductors, and new energy.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Seed, Series A
  • Geography: China, Belgium

Investor stats

  • Total investments: 23
  • Lead/follow: no public data

Portfolio highlights

  • Presheng — Presheng New Materials is a high-end semiconductor polishing solution provider. The company has extensive technical knowledge of high-end abrasives. Prisheng focuses on the research and development of high-end alumina polishing fluids, polishing abrasives, and other goods. Provider of cost-effective local solutions for third-generation compoundsemiconductor polishing.
  • GaN Valley — GaN Valley is an industrial manufacturer of semiconductor equipment and devices.
  • ChangXin Memory Technologies — ChangXin Memory Technologies specializes in manufacturing dynamic random-access memory (DRAM) semiconductor products.
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Rockley Group
VC Fund · Oxford, Oxfordshire, United Kingdom · 1 investments in Belgium Manufacturing startups

Our motivation is to build valuable companies that contribute to global sustainability and the improvement of human well-being.

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Investment focus

  • Industry: Medical, Electronics, Health Care
  • Stage:Seed
  • Geography: United States, United Kingdom

Investor stats

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

Portfolio highlights

  • BelGaN — BelGaN is a manufacturer of semiconductors for the automotive, industrial, and medical sectors.
  • Rockley Photonics — Rockley is developing a comprehensive range of photonic integrated circuits and associated modules, sensors, and full-stack solutions. From next-generation sensing platforms specifically designed for mobile health monitoring and machine vision to high-speed, high-volume solutions for data communications, Rockley is laying the foundation for a newgeneration of applications across multiple industries. Rockley believes that photonics will eventually become as pervasive as micro-electronics, and it has developed a platform with the power and flexibility needed to address both mass markets and a wide variety of vertical applications.
  • CHAIN Biotechnology — CHAIN Biotechnology is a microbiome therapeutics company with a novel drug development platform targeting chronic gut-related diseases. CHAIN is developing several therapeutic compounds targeted to the gut microbiome in the large intestine that can be delivered by our CADD technology.
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Manufacturing VC funding in Belgium at a glance

Stats across 149 deals from 187 investors.

187
investors
in Belgium Manufacturing startups
149
deals
in Belgium Manufacturing startups
$5.7M
median round
in Belgium Manufacturing startups
43%
lead investors
lead at least one round
22%
Seed
most common funding stage

Access all 187 VC funds in Belgium Manufacturing startups.

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