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Top 50 Medical Device VC Funds & Investors in Belgium (June 2026)

The most active venture capital funds investing in Belgium Medical Device startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium Medical Device startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
PMV
VC Fund
6 Belgium, United States, The Netherlands Series A, Seed Software, Biotechnology, Health Care $549k–$40M
Meusinvest (Noshaq)
VC Fund
5 Belgium, France, Germany Series A, Seed Biotechnology, Health Care, Medical $137k–$16M
S.R.I.W.
VC Fund
5 Belgium, United States, Spain Series A, Series B Health Care, Biotechnology, Manufacturing $411k–$75M
Capricorn Partners
VC Fund
5 Belgium, United States, The Netherlands Series A, Series B Biotechnology, Software, Health Care $3.3M–$42M
imec.istart Future Fund
VC Fund
3 Belgium, United Kingdom Seed, Pre-Seed, Series A Health Care, Medical Device, Satellite Communication $1.2M–$5.7M
WING by Digital Wallonia
VC Fund
3 Belgium Seed, Convertible Note, Series A Software, Health Care, SaaS $219k–$11M
Newton Biocapital
VC Fund
3 Belgium, Japan, France Series A, Seed Biotechnology, Medical, Health Care $2.7M–$84M
White Fund
VC Fund
3 Belgium, United States Seed, Series A Health Care, Medical, Medical Device $4.1M–$12M
Namur Invest
VC Fund
3 Belgium, United States Series A, Seed, Grant Health Care, Medical Device, Auctions $658k–$19M
imec.xpand
VC Fund
2 Belgium, United States, Germany Seed, Series A, Series B Semiconductor, Manufacturing, Medical Device $3.3M–$100M
Vives Louvain Technology Fund
VC Fund
2 Belgium, France, United States Series A, Series B Health Care, Biotechnology, Medical $491k–$125M
GoBeyond
VC Fund
2 Switzerland, Germany, United Kingdom Seed, Series A Information Technology, Medical, Software $544k–$10M
Amazon Alexa Fund
VC Fund
2 United States, United Kingdom, Canada Seed, Series A, Series B Software, Artificial Intelligence, Machine Learning $120k–$120M
New Science Ventures
VC Fund
2 United States, United Kingdom, Belgium Series B, Series A Biotechnology, Health Care, Medical $4M–$52M
UI Investissement
VC Fund
2 France, Spain, Canada Private Equity, Series A, Seed Manufacturing, Software, Health Care $1.5M–$49M
Theodorus III
VC Fund
2 Belgium, Canada, France Seed, Series A Health Care, Life Science, Medical $2.2M–$11M
Inventures SA
VC Fund
2 Belgium, France, United Kingdom Series A, Seed Health Care, Biotechnology, Manufacturing $82k–$13M
Spinventure
VC Fund
2 Belgium Series A Health Care, Biotechnology, Medical $768k–$15M
Sensinnovat
VC Fund
2 Belgium, France Seed, Series A, Series B Health Care, Manufacturing, Medical Device $5.5M–$17M
Spreds
VC Fund
2 Belgium, France Series A, Seed, Series B E-Commerce, Health Care, Online Portals $165k–$2.5M
TCD Capital (ex TheClubDeal)
VC Fund
2 Belgium, France Series A, Series B, Seed Health Care, Biotechnology, Information Technology $2.2M–$18M
Kurma Partners
VC Fund
2 France, Switzerland, Spain Series A, Seed, Series B Health Care, Biotechnology, Medical $2.3M–$95M
Sambrinvest
VC Fund
2 Belgium, France, Spain Seed, Series A, Series B Biotechnology, Health Care, Medical $411k–$57M
Qbic Fund
VC Fund
2 Belgium, The Netherlands Seed, Series A Biotechnology, Software, Health Care $868k–$47M
Manuardeo
VC Fund
1 Belgium Series A, Series B Medical, Diabetes, Health Care
SFPI-FPIM
VC Fund
1 Belgium, United States, The Netherlands Series B, Series A Health Care, Biotechnology, Medical $4.4M–$75M
New Rhein
VC Fund
1 United States, Israel, Belgium Series A, Series B, Series C Medical, Biotechnology, Health Care $7M–$197M
Nausicaa Ventures
VC Fund
1 Belgium Series B Software, CRM, Big Data
LeanSquare
VC Fund
1 Belgium, France, United States Seed, Series A Software, Music, Information Technology $200k–$12M
EIC Fund
VC Fund
1 Germany, The Netherlands, Austria Pre-Seed, Seed Biotechnology, Health Care, Information Technology
EQT Life Sciences
VC Fund
1 United States, The Netherlands, Switzerland Series A, Series B, Series C Biotechnology, Health Care, Therapeutics $6.9M–$165M
Thuja Capital
VC Fund
1 The Netherlands, Belgium, United States Series A, Seed Biotechnology, Medical, Health Care
Elaia
VC Fund
1 France, United States, Spain Seed, Series A, Series B Software, Artificial Intelligence, Information Technology $1.1M–$50M
SHIGERU AG
VC Fund
1 United States, Japan, Belgium Seed, Pre-Seed, Series A Blockchain, Cloud Computing, Virtual Reality $1M–$7.3M
Investsud
VC Fund
1 Belgium, France Series A, Seed, Series B Biotechnology, Medical, Health Care $3M–$30M
Sofinnova Investments
VC Fund
1 United States, France, Switzerland Series B, Series A, Series C Biotechnology, Health Care, Pharmaceutical $7.3M–$137M
Boehringer Ingelheim Venture Fund
VC Fund
1 United States, Germany, Switzerland Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $1.3M–$50M
Sofinex
VC Fund
1 Belgium Series A Wellness, Lifestyle, Health Care
Fidimec
VC Fund
1 Belgium Series A, Seed Industrial, Semiconductor, Medical $2.2M–$7.7M
Parana Management
VC Fund
1 Belgium Series A, Series B Medical, Diabetes, Health Care
SoFi
VC Fund
1 Belgium, United States, Brazil Series A, Seed Software, Apps, FinTech $932k–$25M
Fonds Vives II (University of Louvain, UCL)
VC Fund
1 Belgium, United States Series A, Series B, Seed Biotechnology, Health Care, Medical $6.6M–$75M
Financière Spin-Off Luxembourgeoise
VC Fund
1 Belgium Series A Medical, Health Care, Medical Device
Invest Mons Borinage Centre
VC Fund
1 Belgium Seed, Pre-Seed, Series A Agriculture, AgTech, Farming
Lumiares
VC Fund
1 Belgium Pre-Seed Software, Health Care, Manufacturing
Carevolution
VC Fund
1 Belgium, United States Seed Health Care, mHealth, Therapeutics $1.1M–$4.1M
Flanders Future Techfund
VC Fund
1 Belgium, The Netherlands Seed, Series A Medical, Biotechnology, Clinical Trials $2.7M–$33M
Invest BW
VC Fund
1 Belgium Series A, Seed, Series B Health Care, AgTech, Medical $1.1M–$19M
Delta Partners
VC Fund
1 Ireland, United States, United Kingdom Seed, Series A Software, Information Technology, Health Care $795k–$6.6M
Earlybird Venture Capital
VC Fund
1 Germany, United States, United Kingdom Series A, Seed, Series B Software, Information Technology, Artificial Intelligence $1.4M–$75M
Access all 124 VC funds in Belgium Medical Device 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 · 6 investments in Belgium Medical Device startups

Do and dare company

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Sentea — Sentea makes fibre optic Sensing affordable to the industry and enables continuous monitoring even in harsh environments.
  • RheaVita — Streamline your lyophilization process with RheaVita's innovative freeze-drying technologies, accelerating drug development while ensuring compliance and efficiency. Discover our solutions today.
  • Gorilla — We empower Energy Retailers in pricing, forecasting and reporting with data-driven solutions in boosting speed and flexibility.
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Meusinvest (Noshaq)
VC Fund · Liège, Liege, Belgium · 5 investments in Belgium Medical Device startups

Noshaq offers financial services to help businesses develop.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • TrustUp — TrustUp is the home contractors platform, connects homeowners with verified quality home improvement.
  • Le Fourgon — Le Fourgon provides contained drinks for home delivery. They offer milk, water, beer, wine, fruit juice, and sodas. They allow customers to have their drinks delivered free of charge during the day.
  • Allegro Biotech — Allegro has developed the world’s-first custom-tailored, durable, biocompatible, anisotropic, regenerative meniscus cartilage, providing immediate support while also leverage the body’s own healing potential to regenerate human cartilage (proliferation and differentiation of fibrochondrocyte cells).
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S.R.I.W.
VC Fund · Liège, Liege, Belgium · 5 investments in Belgium Medical Device startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Intressa Vascular — Intressa Vascular provides innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection.
  • Minoryx Therapeutics — Minoryx is focused on the discovery and development of novel treatments for severe, orphan diseases of the central nervous system with high unmet medical need.
  • Santero Therapeutics — This is the homepage of the website
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Capricorn Partners
VC Fund · Leuven, Vlaams-Brabant, Belgium · 5 investments in Belgium Medical Device startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Azumuta — Unite Connected Worker and MES capabilities to build the execution platform that coordinates, governs, and continuously improves operational work on the shop floor, across humans, AI agents, and robotic systems
  • Sensolus — Sensolus provides care-free tracking of your valuable non-powered assets directly from the cloud.Sensolus offers turnkey solutions for wireless, low-power context-aware sensing. Sensolus developed a personal product line of low-power tracker systems called STICKNTRACK.Sensolus is built upon many years of expertise in low-power networks,wireless sensor design, cloud-based sensor management, analytics, and applications.
  • VOID Technologies — VOID Technologies is a groundbreaking materials science company spun out of Kimberly-Clark to commercialise the VO+ technology. Our business model is based on supplying VO+ additive masterbatches to film manufacturers.
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imec.istart Future Fund
VC Fund · Antwerp, Antwerpen, Belgium · 3 investments in Belgium Medical Device startups

Early-stage venture capital fund focused on alumni of the imec.istart accelerator and exceptional tech founders building in Applied AI, Spacetech, Healthtech, and Deep Tech. Based in Antwerp, Belgium.

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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

  • Karomia — Karomia is an efficient and engaging B2B SaaS solution supporting sustainability officers in conducting a Double Materiality Assessment (DMA) of their organization, as part of their ESG report.
  • Veoware — More coverage, shorter revisit time. Increasing target collection frequency through modular next-gen actuator technology.
  • Minze Health — Digital Urology Starts Here from symptom to solution Home-based digital diagnostics and therapeutics for Male LUTS/BPH and OAB. Shaping the future of urology through meaningful data. Get In Touch Our Mission We're redefining how Male LUTS/BPH and OAB are diagnosed and treated Today's Challenge Lower urinary tract symptoms (LUTS) affect a growing group of patients.
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WING by Digital Wallonia
VC Fund · Liège, Liege, Belgium · 3 investments in Belgium Medical Device startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • IONNYK — IONNYK is a new medium of art photography, containing millions of tiny ink capsules.
  • MYOCENE — Myocene is a Liège-based sports technology company which creates unique and innovative devices for measuring muscle fatigue and performance.
  • Soil Capital Belgium — Discover Europe's first certified, multi-national carbon farming programme that rewards regenerative agriculture.
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Newton Biocapital
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Medical Device startups

Our mission is to mature innovation and support the growth of our portfolio companies to create value for patients, society, local ecosystems, and investors.

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Investment focus

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

Investor stats

  • Total investments: 21
  • Round size: Seed $2.7M–$3.2M; Series A $5.9M–$84M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Bioxodes — Bioxodes is a clinical-stage biopharmaceutical company dedicated to the development of novel therapeutics to prevent thrombotic events without hemorrhagic risk.
  • Tensegrity Pharma — Tensegrity Pharma is the developer of a novel drug designed to minimize bottlenecks and provide innovative value to patients.
  • Augustine Therapeutics — Augustine Therapeutics is developing selective, safe and efficacious HDAC6 inhibitors designed for treatment of neuromuscular, neurodegenerative and cardiometabolic diseases. Discover our pipeline poised for clinical impact.
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White Fund
VC Fund · 3 investments in Belgium Medical Device startups

For game changers in medtech

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Investment focus

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

Investor stats

  • Total investments: 10
  • Round size: Seed $4.1M–$11M; Series A $5.3M–$12M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: May invest from a new fund soon — raised $23M in 2019

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Minze Health — Digital Urology Starts Here from symptom to solution Home-based digital diagnostics and therapeutics for Male LUTS/BPH and OAB. Shaping the future of urology through meaningful data. Get In Touch Our Mission We're redefining how Male LUTS/BPH and OAB are diagnosed and treated Today's Challenge Lower urinary tract symptoms (LUTS) affect a growing group of patients.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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Namur Invest
VC Fund · Namur, Namur, Belgium · 3 investments in Belgium Medical Device 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: 7
  • Round size: Series A $658k–$19M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Invineo — Invineo design and development of a "smart machine" for catering and hospitality professionals.
  • VolitionRx — Volition is a multi-national life sciences company developing simple, easy to use blood-based cancer tests to accurately diagnose a range of cancers. The tests are based on the science of Nucleosomics, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid which is an indication that disease ispresent.As cancer screening programs become more and more widespread, its products aim to help to diagnose a range of cancers quickly, simply, accurately, and cost-effectively. Early diagnosis has the potential to not only prolong the life of patients but also to improve their quality of life.Volition's research and development activities are currently centered in Belgium, with additional offices in London, Texas, and Singapore, as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and worldwide.
  • 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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imec.xpand
VC Fund · Leuven, Vlaams-Brabant, Belgium · 2 investments in Belgium Medical Device startups

Expanding nanotechnology into business.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Pharrowtech — Pharrowtech designs next-generation solutions for fixed-wireless access, wireless VR/AR and ultra-high capacity wireless links. It builds on more than 12 years of top-notch R&D performed at imec, the Belgian R&D powerhouse. Leveraging deep technical expertise in algorithm, chip and antenna design for millimeter-wave systems, it createsproducts with best-in-class performance, power and cost features.
  • Onera Health — Introduction to Onera sleep diagnostics and monitoring solutions
  • SCIL Nanoimprint solutions — High-resolution patterning at the nanoscale level. Providing tools, consumables and process development services].
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Access 48,091 investors

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

Browse database — It's Free!
Vives Louvain Technology Fund
VC Fund · Louvain-la-neuve, Vlaams-Brabant, Belgium · 2 investments in Belgium Medical Device startups

Vives is an interregional seed and early stage technology multi-sector fund. The new fund, initiated by UCLouvain, is a unique European inter-university fund having access to world class innovations from leading EU top universities.

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Investment focus

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

Investor stats

  • Total investments: 25
  • Round size: Series A $491k–$46M; Series B $4.4M–$125M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — raised $37M in 2020

Portfolio highlights

  • 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.
  • 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.
  • Syndesi Therapeutics — Science that Builds Connections
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GoBeyond
VC Fund · Zürich, Zurich, Switzerland · 2 investments in Belgium Medical Device startups

GoBeyond is a FinTech company transforming angel investing into a new scalable asset class for small and large, novice to experienced investors. It offers a unique deal platform, portfolio tools, syndication/pooling, due diligence, investment monitoring services, training and certified deal leaders.Its clients are individuals, familyoffices, professional groups and corporations. It is active in the EU, Switzerland and the US. GoBeyond also offers educational training modules for angel investors in 11 categories.

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Investment focus

  • Industry: Information Technology, Medical, Software
  • Stage:Seed, Series A
  • Geography: Switzerland, Germany, United Kingdom

Investor stats

  • Total investments: 163
  • Round size: Seed $544k–$5M; Series A $1.2M–$10M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • Fastree3D — Fastree3D imaging sensors help recognize and measure distance to fast moving objects in real-time, enabling driving assistance or autonomous navigation. Fastree3D SA is a fabless semiconductor company, spin-off from EPFL Lausanne, Switzerland founded in September 2013 (UID CHE-291.330.490). The company subsidiary Fastree3D B.V. performs researchwith TU-Delft, Netherlands (KvK 58866973).
  • Spyra One — Single Shot Technology | Tactical display | Automatic Refill | Power Shot SpyraTwo - the world's strongest water gun! Start epic water battles with the only water gun in the world that features our patented Single-Shot-Technology, fully automatical pump, a hightech tactical display and the Power Shot for extra impact.
  • Arktis Radiation Detectors — Arktis develops and manufactures next generation systems that detect and categorize radiological and nuclear materials to enhance security and operations.
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Amazon Alexa Fund
VC Fund · Seattle, Washington, United States · 2 investments in Belgium Medical Device startups

The Amazon Alexa Fund is Amazon’s venture capital fund investing in artificial intelligence, frontier tech, voice, robotics, and digital health across consumer and enterprise. We invest in early- to growth-stage companies globally. To learn more, visit us at alexafund.com.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Seed, Series A, Series B
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 138
  • Round size: Seed $120k–$5.9M; Series A $5.1M–$46M; Series B $11M–$120M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — raised $100M in 2017

Portfolio highlights

  • Endel — Personalized soundscapes to help you focus, relax, and sleep. Backed by neuroscience.
  • HelixAI — HelixAI is an artifically intellegent virtual assistant for scientific laboratories.
  • Yousician — Yousician is a fun way to learn the guitar, piano, bass, ukulele or singing. Enjoy thousands of songs with Yousician as your personal music teacher!
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New Science Ventures
VC Fund · New York, New York, United States · 2 investments in Belgium Medical Device 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
  • Geography: United States, United Kingdom, Belgium

Investor stats

  • Total investments: 85
  • Round size: Series A $4M–$49M; Series B $8M–$52M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $4.9M in 2020

Portfolio highlights

  • BrightVolt — BrightVolt is an innovative manufacturer of solid-state thin & flexible lithium polymer batteries and power-efficient thin & flexible microelectronics for IoT clients. It specializes in the fields of battery, electronics, and manufacturing. BrightVolt got recapitalization in November 13, 2013.
  • 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.
  • NorthSea Therapeutics — NorthSea Therapeutics B.V. is a Dutch biotech company developing novel and innovative strategies for the treatment of non-alcoholic steatohepatitis (NASH) and other metabolic, cholestatic and fibrotic diseases.
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UI Investissement
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Medical Device startups

Since 1967, the UI brand embodies a partnership with companies. Actor of the economy, UI has accompanied more than 120 SMEs over the last fifteen years, investing more than 550m € and giving substance to their development projects. Combining experience and corporate culture, UI has established itself as an involved and independent partner, able tocount on its shareholder leaders to favor, independently, the sustainable performance of the SMEs it accompanies.

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Investment focus

  • Industry: Manufacturing, Software, Health Care
  • Stage:Private Equity, Series A, Seed
  • Geography: France, Spain, Canada

Investor stats

  • Total investments: 101
  • Round size: Seed $1.5M–$7.1M; Series A $3.3M–$33M; Private Equity $3.1M–$49M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $37M in 2021

Portfolio highlights

  • Fizimed — Fizimed has made the choice to develop the EMY perineal probe with recognized health professionals. The probe is connected to a mobile app and associated with custom exercises. The probe captures the contractions of the perineal muscles in real time to allow the patient to do 5-minute exercises through fun games (jumping obstacles, jumping ...) sothat she remains motivated. The patient can follow her results as well as her progress in the application and unlock new universes according to the points obtained. Much of the effort of Fizimed's technical teams is focused on balancing a product, combining the quality and safety of a medical device, with a fun application to empower each woman. One goal: the simplicity of the product and the interface for home use.Beyond the product, the Fizimed team is committed to the fight against taboos related to urinary incontinence problems affecting one in ten women. She wants to "demystify" this topic so that every woman can find her adapted solution. An EMY community is being born on social networks in which the feminine hassles are put into images and discussed with humor, while talking about innovations that can simplify their daily lives.In summary, EMY by Fizimed is the connected and fun medical probe that allows women wishing to regain control of their perineum to do their home exercises. It was developed by a dynamic Alsatian start-up whose ambition is to remove taboos on a public health issue.
  • Fungu'it — A new generation of flavor ingredients for healthy, sustainable, and accessible food.
  • Sintermat — Our company creates innovative materials for industrial applications thanks to the SPS or FAST Sintering process.
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Theodorus III
VC Fund · 2 investments in Belgium Medical Device startups

Theodorus is the spin-off fund of Université Libre de Bruxelles that invests ininvest in early stage projects based on proprietary disruptive technologies.

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Investment focus

  • Industry: Health Care, Life Science, Medical
  • Stage:Seed, Series A
  • Geography: Belgium, Canada, France

Investor stats

  • Total investments: 13
  • Round size: Seed $3.7M–$11M; Series A $2.2M–$6.6M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • DrugBank — DrugBank augments human intelligence to improve the world’s health. Our suite of products are powered by the world’s most complete and up-to-date pharmaceutical knowledge database. It includes everything there is to know about drugs and how they work in the body. We enable companies to improve healthcare delivery through precision medicine orclinical software applications, as well as uncover insights through data science in drug discovery. Our knowledge base can be integrated into software solutions to help achieve clinical intelligence. Companies can easily scale their usage through our API and launch faster with flexible data modules. By providing users with advanced insights and the right information at the right time, users are empowered to make better health decisions.Our extensive, structured datasets are used to discover novel drug candidates, identify drug repurposing opportunities, and build predictive machine learning models. Companies working with data science can find answers quickly and get drugs to market faster with our evidence-based drug information. Lastly, our publicly available resource, DrugBank Online, is free-to-use with limited datasets available for download for academic and non-commercial researchers. DrugBank has been cited in over 13,000 academic publications and is used by millions of researchers and health professionals globally.
  • HYPNO VR — HypnoVR is a virtual reality software for anesthesia, treatment of pain, and anxiety. It was founded in 2016 and is based in Strasbourg, France.
  • Cascador Health — Cascador Health bridges the gap between sources and users of healthcare data. Using curated, validated and anonymized RWD allows healthcare providers and life science industry to gain insights and provide better care.
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Inventures SA
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Medical Device startups

Inventures is a European venture capital fund that builds a better world through a portfolio of investments in sustainable businesses.The firm has two funds: Inventures I & Inventures II.Inventures was created to support early stage smart and innovative European businesses, to support sustainable job growth and empower entrepreneurs.Inventures empowers citizenship co-investments through a crowdfunding platform, MyMicroInvest.

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Investment focus

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

Investor stats

  • Total investments: 46
  • Round size: Seed $82k–$2.2M; Series A $411k–$13M
  • Lead/follow: 9% lead, 91% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • BiOceanOr — BiOceanOr harnessed the power of Marine Biology and AI to deliver bio-guided services that optimize fish welfare and fish growth, while supporting aquaculture sustainability standards
  • myskillcamp — Myskillcamp is a digital learning platform and educational design support service. Myskillcamp supports their customers in the digital transformation of their company and the launch of their Digital Learning project. From the audit of needs to the design of engaging educational devices, through a pilot phase, they make a point of honor to adapt thedigital to the specificities of each and give it meaning.With their online platform, businesses can manage their learner communities and connect all their partners in one place. Their tool also allows businesses to structure training spaces by skills, trades, brands within camps. In parallel, businesses can create educational content from scratch, select a map in their marketplace, or plan sessions in-class. Businesses can organize the distribution of their training to a single learner or to a whole group.
  • Octave — A sustainable, cost-effective and reliable energy storage system with second-life batteries from electric vehicles.
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Spinventure
VC Fund · Angleur, Liege, Belgium · 2 investments in Belgium Medical Device startups

Spinventure supports the creation of spin-off companies that aim to industrialize and commercialize the result of scientific research. Spinventure was born from a collaboration between MEUSINVEST and the University of Liège. It is headquartered in Angleur, Belgium.

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Investment focus

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

Investor stats

  • Total investments: 6
  • Round size: Series A $768k–$15M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Dim3 — Improve patients outcome - Deliver actionable insights - Save healthcare costs
  • Elysia — Elysia developed solution dedicated to quality control laboratories for the production of Radio Pharmaceuticals.
  • Convert Pharmaceuticals — Convert Pharmaceuticals develops prodrugs that are inert upon administration to patients, but transform into potent anti-cancer agents upon entering tumors.
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Sensinnovat
VC Fund · 2 investments in Belgium Medical Device startups

Sensinnovat

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Investment focus

  • Industry: Health Care, Manufacturing, Medical Device
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, France

Investor stats

  • Total investments: 5
  • Round size: Seed $5.5M–$7.3M; Series A $7.7M–$17M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Hummink — Dream Smaller Now : Experience a revolution with Hummink's world's smallest fountain pen. Redefine micro-scale writing with our innovative technology.
  • 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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Spreds
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Medical Device 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: E-Commerce, Health Care, Online Portals
  • Stage:Series A, Seed, Series B
  • Geography: Belgium, France

Investor stats

  • Total investments: 14
  • Round size: Seed $165k–$1.3M; Series A $247k–$2.5M; Series B $165k–$680k
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Opinum — What is Opinum Data Hub? Our Data Hub is a secured Cloud-based platform that allows energy and environmental actors to centralise, enhance, analyse, and share data.
  • Digiteal — Digiteal offers a wide range of services for e-invoice presentment, electronic payments and open banking.
  • 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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TCD Capital (ex TheClubDeal)
VC Fund · Uccle, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Medical Device startups

TheClubDeal is an investment holding and fund manager co-investing into SME’s and real estate projects. It provides facilitation of governance between non-executive shareholders and entrepreneurs. Its governance structure, including its charter of avoidance of conflict of interests, is therefore paramount to the adequate management of the Company.At TheClubDeal, we connect Investors and Entrepreneurs around promising investment opportunities. For each of these, we will invest ourselves and co-invest with a selected number of investors. We add value by processing strong applied governance principles, when selecting and managing our investments, and by gathering the necessary skills to successfully grow the businesses and real-estate projects we co-invest in. TheClubDeal is launching their second fund, a 50M € PRIVAK/PRICAF in H1 2021 with the mandate to invest in Belgian scale-ups in three sectors: Smart Living, Tech and Life Sciences.

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Investment focus

  • Industry: Health Care, Biotechnology, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, France

Investor stats

  • Total investments: 17
  • Round size: Series A $2.2M–$7.7M; Series B $12M–$18M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Vaxinano — Vaxinano is a biotechnology company specialized in preclinical and pharmaceutical development of human and veterinary vaccines and drug delivery systems. Vaxinano was created in 2016, building on 25 years of research and clinical trials on vaccines and the patented technology of Pr Didier Betbeder.
  • Inpulse — Inpulse is an automated supply management platform for restaurateurs.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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Kurma Partners
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Medical Device startups

Kurma Partners is a management company based in Paris, specializing in the financing of innovation in healthcare and biotechnology, from pre-creation to development capital. Kurma Partners, which manages the Kurma Biofund I, II funds and the Kurma Diagnostics fund, is one of the main players in the financing of therapeutic and medical innovationsin Europe, particularly through links with many institutes. research and prestigious hospitals.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Seed, Series B
  • Geography: France, Switzerland, Spain

Investor stats

  • Total investments: 132
  • Round size: Seed $2.3M–$13M; Series A $3.8M–$95M; Series B $8.8M–$80M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • Medlumics — Medlumics is a medical device start-up born in 2009 from a compromise with improving human living standards by means of technology.
  • Vico Therapeutics — Pioneering RNA-based science to target the root cause of rare genetic neurological diseases VO659: The first clinical candidate directly targeting the CAG repea
  • Synendos Therapeutics — Synendos Therapeutics is a biopharmaceutical company that aims to develop breakthrough safe and effective therapies for unmet needs in neuropsychiatric disorders through modulation of a new drug target in the endocannabinoid system that enables restoration of natural functioning of the brain.
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Sambrinvest
VC Fund · Gosselies, Hainaut, Belgium · 2 investments in Belgium Medical Device startups

Sambrinvest is an active venture capital player in the region of Charleroi - Thuin.

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Investment focus

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

Investor stats

  • Total investments: 39
  • Round size: Seed $544k–$24M; Series A $411k–$57M; Series B $4.4M–$44M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • 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.
  • Vertical Compute — Vertical Compute offers chiplet-based technology that cuts data movement to achieve up to 80% energy savings.
  • Enodia Therapeutics — Enodia Therapeutics pioneers targeted protein degradation at the Sec61 translocon, developing small-molecule therapies for inflammatory and autoimmune diseases.
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Qbic Fund
VC Fund · Belgium, Wisconsin, United States · 2 investments in Belgium Medical Device startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Aloxy — Aloxy offers reliable IIot solutions tailored to the needs of the process industry. Our valve sensor provides an open and close indication of manual valves.
  • Flindr Therapeutics — Immagene develops personalized cancer immunotherapies to fight multiple cancer type.
  • Blue Foot Membranes — Blue Foot Membranes delivers unbreakable MBR membranes for wastewater treatment. Reliable water reuse, high capacity and low total cost of ownership.
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Manuardeo
VC Fund · 1 investments in Belgium Medical Device startups

Manuardeo is an early stage investments focused VC firm.

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Investment focus

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

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Indigo Diabetes — Revolutionizing the management of chronic disease.
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SFPI-FPIM
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical Device 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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New Rhein
VC Fund · Philadelphia, Pennsylvania, United States · 1 investments in Belgium Medical Device startups

New Rhein is a Philadelphia based healthcare venture capital firm focused on repurposed assets.

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Investment focus

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

Investor stats

  • Total investments: 11
  • Round size: Series A $12M–$197M; Series B $7M–$23M; Series C $21M–$45M
  • Lead/follow: 64% lead, 36% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Corsair Pharma — Corsair Pharma is developing transformative solutions to improve the therapeutic profile of medications and provide superior treatment options for patients.
  • Butterfly Medical — Butterfly, Butterfly Medical, BPH Treatment, BPH Office Procedure, Idan Geva, Minimally Invasive BPH, Prostate, Enlarged Prostate, Bening Prostate Hyperplasia, Urology
  • Alveus Therapeutics — At Alveus Therapeutics, we are building a differentiated therapeutic portfolio that delivers sustainable weight loss with superior tolerability.
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Nausicaa Ventures
VC Fund · Mont-saint-guibert, Brabant Wallon, Belgium · 1 investments in Belgium Medical Device startups

A multi-industry early stage venture capital fund Nausicaa Ventures is an early stage investment fund organisation focused on investment rounds between EUR 1 and 4 million. Nausicaa Ventures was created in 2009 by bringing together 35 private investors and selected institutional investors, such as the European Investment Fund or ING Bank, under the management of ...

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Investment focus

  • Industry: Software, CRM, Big Data
  • Stage:Series B
  • Geography: Belgium

Investor stats

  • Total investments: 2
  • 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.
  • Ovizio — Ovizio develops digital holographic interferometric microscopy products. It builds 4D microscopic imaging devices and software based on digital holographic microscopy. Ovizio offers oLine 4D, a research and development, and diagnostic desktop device that is used without specific sample preparation, as well as with automatic compensation ofscratches or distortions on the sample support; iLine 4D, a multipurpose device for applications, such as inline or online flow monitoring or direct monitoring of cell cultures in bioreactors; and OsOne software for visualization, analysis, and archiving of images captured by the imaging devices. It also provides ILine F, a device that captures suspension cell culture process in real time; iLine M, an instrument that monitors cell confluence in multi layer vessels; iLine S, an equipment that monitors reproducibility of fragile cell; and QMod, a holographic and fluorescene microscopy. Scientists in the areas of pharmaceutical and biotech research and development use the products of Ovizio. Philip Mathuis and Serge Jooris founded it in 2009, with its headquarters in Brussels in Belgium.
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LeanSquare
VC Fund · Liège, Liege, Belgium · 1 investments in Belgium Medical Device startups

New Economy Startups Investor & Accelerator

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Investment focus

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

Investor stats

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

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • CityLegends — A home for urban sports & culture partners of CityLegends. Making the lines.
  • ClimateCamp — Looking for a sustainable way to collaborate with your suppliers on emissions reduction projects? Look no further than our platform - Book a demo for free!
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EIC Fund
VC Fund · 1 investments in Belgium Medical Device startups

start-ups, SMEs, technology, co-investment

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Investment focus

  • Industry: Biotechnology, Health Care, Information Technology
  • Stage:Pre-Seed, Seed
  • Geography: Germany, The Netherlands, Austria

Investor stats

  • Total investments: 22
  • Lead/follow: no public data

Portfolio highlights

  • Filuta AI — Operationalized Composite Artificial Intelligence
  • Resistell AG — Resistell is a antibiotic resistance test.
  • iThera Medical — Explore optoacoustic imaging technology for non-invasive in vivo visualization and quantification of disease-related tissue biomarkers.
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EQT Life Sciences
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 1 investments in Belgium Medical Device startups

Providing capital plus strategic, clinical, operational, financial, and commercial support to deliver the added value inventors seek.

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Series C
  • Geography: United States, The Netherlands, Switzerland

Investor stats

  • Total investments: 174
  • Round size: Series A $6.9M–$77M; Series B $12M–$103M; Series C $12M–$165M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — raised $266M in 2023

Portfolio highlights

  • Perfuze — Perfuze was founded in 2018 by Wayne Allen and Liam Mullins. Perfuze is located within Galway City in the West of Ireland. The founders have over 30 years combined medtech experience within start-up and large corporations.Perfuze is developing innovative medical technology to treat acute ischemic stroke.Perfuze is developing innovative cathetertechnology to treat acute ischemic stroke. Their technology is intended to provide superior clinical outcomes in shorter procedural times; resulting in safe, cost-effective therapy. Perfuze was founded in 2018 by Wayne Allen and Liam Mullins. The founders have over 30 years combined medtech experience within start-up and large corporations. Perfuze is currently located in the Business Innovation Centre on the campus of the National University of Ireland, Galway, and is in the process of relocating to the IDA Business Park in Dangan, Galway.
  • Neuros Medical — Neuros Medical is a neuromodulation company, is focused on developing proprietary therapies for the unmet needs of patients worldwide. The Company's patented platform technology, Electrical Nerve Block, is focused on the elimination of chronic pain in a variety of applications including neuroma/residual limb pain, chronic post-surgicalpain, and chronic migraine.
  • Simplify Medical — Simplify Medical designs, develops, and manufactures cervical artificial discs for use in the spine. It offers an MRI compatible motion preserving artificial cervical disc that is used to treat single level symptomatic cervical disc disease.The company provides its products for skeletally mature patients for reconstruction of the disc at onelevel from C3-C7 following single-level discectomy for intractable radiculopathy, such as arm pain or a neurological deficit.Simplify Medical was founded in 2015 and is based in Mountain View, California.
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Thuja Capital
VC Fund · Utrecht, Utrecht, The Netherlands · 1 investments in Belgium Medical Device startups

Thuja Capital invests in early stage medical product innovations for diagnosis, cure, care or prevention.

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Investment focus

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

Investor stats

  • Total investments: 54
  • Lead/follow: no public data

Portfolio highlights

  • Pan Cancer — Pan Cancer T is an immunotherapy company developing next-generation TCR-T cell therapies for solid cancer.
  • Synerkine Pharma — Synerkine Pharma. Connecting Cytokines for the benefit of patients.
  • Artica Therapeutics — Artica Therapeutics specializes in biotechnological research and development for medical devices, pharmaceutical processes, and food.
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Elaia
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Medical Device startups

Elaia is French venture capital firm focused on European digital and deep tech startups, from early stage to growth developpement. We back tech disruptors.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: France, United States, Spain

Investor stats

  • Total investments: 214
  • Round size: Seed $1.1M–$9.9M; Series A $2.2M–$26M; Series B $4.2M–$50M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Elevo — Elevo is a Paris-based performance management platform.
  • Vibe — Advertise your brand on CTV & OTT content with Vibe's self-serve ad platform to target hundreds of channels & networks and reach millions of households.
  • Traefik Labs — Cloud-native, GitOps-driven API runtime solutions for demanding DevOps and Platform Engineers with diverse use-cases, environments, and deployment models.
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SHIGERU AG
VC Fund · Princeton, New Jersey, United States · 1 investments in Belgium Medical Device 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: Blockchain, Cloud Computing, Virtual Reality
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Japan, Belgium

Investor stats

  • Total investments: 7
  • Round size: Seed $3.3M–$7.3M; Pre-Seed $1M–$3M
  • Lead/follow: 43% lead, 57% follow

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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Investsud
VC Fund · Marche-en-famenne, Luxembourg, Belgium · 1 investments in Belgium Medical Device startups

Investsud is a capital firm that works on investments in different industries including food, general industry, and technological startup.

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Investment focus

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

Investor stats

  • Total investments: 12
  • Round size: Seed $3M–$24M; Series A $4.9M–$30M; Series B $21M–$26M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • TrustUp — TrustUp is the home contractors platform, connects homeowners with verified quality home improvement.
  • 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.
  • Enodia Therapeutics — Enodia Therapeutics pioneers targeted protein degradation at the Sec61 translocon, developing small-molecule therapies for inflammatory and autoimmune diseases.
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Sofinnova Investments
VC Fund · Menlo Park, California, United States · 1 investments in Belgium Medical Device startups

Sofinnova deploys human and financial capital to turn dreams into drugs. We are a clinical-stage biopharmaceutical venture capital firm with approximately $2B in assets under management and committed capital.

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Investment focus

  • Industry: Biotechnology, Health Care, Pharmaceutical
  • Stage:Series B, Series A, Series C
  • Geography: United States, France, Switzerland

Investor stats

  • Total investments: 210
  • Round size: Series A $7.3M–$100M; Series B $15M–$137M; Series C $15M–$94M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $650M in 2016

Portfolio highlights

  • Invitae — Invitae and Labcorp together offer advanced genetic testing that can be easily integrated into medical practices. Improve patient care with meaningful insights based on DNA.
  • Vera Therapeutics — Vera Therapeutics is a biotechnology company developing innovative biologic therapeutics with transformative clinical potential. The company's gene-editing technology can potentially cure patients with sickle cell disease, cystic fibrosis, and other devastating genetic disorders, enabling physicians to improve gene detection and regulation.
  • Aeovian Pharmaceuticals — Aeovian is a San Francisco based biopharmaceutical company developing novel and highly selective therapeutics modulating mTORC1 pathway.
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Boehringer Ingelheim Venture Fund
VC Fund · Ingelheim Am Rhein, Rheinland-Pfalz, Germany · 1 investments in Belgium Medical Device startups

Discover Boehringer Ingelheim Venture Fund. We invest in groundbreaking science to transform care. Explore our mission and join us in advancing medicine

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Seed
  • Geography: United States, Germany, Switzerland

Investor stats

  • Total investments: 98
  • Round size: Seed $1.3M–$20M; Series A $3.8M–$34M; Series B $11M–$50M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $250M in 2018

Portfolio highlights

  • ArrePath — ArrePath is an anti-infective drug discovery company addressing the global health challenge of drug resistant infections.
  • Rinri Therapeutics — Rinri Therapeutics has been founded on pioneering research into auditory stem cells led by Professor Marcelo Rivolta at the University of Sheffield.
  • Centauri Therapeutics — At Centauri we seek to tackle life-threatening infectious diseases in the most vulnerable patients.
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Sofinex
VC Fund · 1 investments in Belgium Medical Device startups

Sofinex is an investment comapny.

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Investment focus

  • Industry: Wellness, Lifestyle, Health Care
  • Stage:Series A
  • Geography: Belgium

Investor stats

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

Portfolio highlights

  • 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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Fidimec
VC Fund · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium Medical Device 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:Series A, Seed
  • Geography: Belgium

Investor stats

  • Total investments: 6
  • Round size: Series A $2.2M–$7.7M
  • 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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Parana Management
VC Fund · Sint-martens-latem, Oost-Vlaanderen, Belgium · 1 investments in Belgium Medical Device startups

Parana Management

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Investment focus

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

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Indigo Diabetes — Revolutionizing the management of chronic disease.
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SoFi
VC Fund · San Francisco, California, United States · 1 investments in Belgium Medical Device startups

SoFi is a finance company that offers a range of lending and wealth management services. The company primarily caters to early-stage professionals and offers variable and fixed rate parent, personal, and MBA loans, mortgage refinancing, and more. They create modern financial products and services that help people borrow, save, spend, invest, andprotect their money better so that they can achieve financial independence and realize their ambitions from owning a home to saving for retirement, paying off their student loans, and more.It was founded in 2016 and is headquartered in San Francisco, California.

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Investment focus

  • Industry: Software, Apps, FinTech
  • Stage:Series A, Seed
  • Geography: Belgium, United States, Brazil

Investor stats

  • Total investments: 11
  • Round size: Series A $932k–$25M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • zerohash — zerohash provides API-first technology and turnkey regulatory infrastructure to launch and scale compliant crypto and stablecoin products quickly and securely.
  • Casap — Casap is an award-winning dispute automation platform that streamlines compliance, reduces operational costs, and enhances consumer satisfaction by automating up to 30% of dispute cases. Trusted by fintechs and financial institutions to deliver fast, accurate, and compliant resolutions.
  • Wage — Thanks for your interest in Wage.com - If you are interested in purchasing this domain, please click the button below to get in contact. Some Value Points for the domain: 1. Highly Aged (SEO Benefits) (Wage.com HAS BEEN ACTIVE SINCE 1996) 2. Highly Sought After (Value Appreciation) (
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Fonds Vives II (University of Louvain, UCL)
VC Fund · 1 investments in Belgium Medical Device startups

Fonds Vives II (University of Louvain, UCL)

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Investment focus

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

Investor stats

  • Total investments: 5
  • Round size: Series A $9.9M–$14M; Series B $6.6M–$75M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Virovet — Antiviral drugs and thermostable vaccines for livestock
  • 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.
  • ITeos Therapeutics — iTeos Therapeutics is pioneering the discovery and development of highly differentiated immuno-oncology therapeutics for cancer patients.
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Financière Spin-Off Luxembourgeoise
VC Fund · 1 investments in Belgium Medical Device startups

Specializes in spin-off and spin-out investments.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Synergia Medical — Synergia Medical aims at developing and commercializing next generation neurostimulation devices. It relies on a seasoned management team with extensive experience in developing implantable neurostimulators.In only three years time, the company became ISO13485 certified, created and sold an OEM external neurostimulator for a motorized amputeeprosthesis arm and developed its first version of the NAOS platform.Supported by private investors and public research grants, the company has quickly grown to a team of thirteen highly skilled multidisciplinary professionals.
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Invest Mons Borinage Centre
VC Fund · Mons, Hainaut, Belgium · 1 investments in Belgium Medical Device startups

IMBC is particularly active in the agri-food, technology, and environmental sectors, with direct links to the ecosystems of the Mons Borinage region.

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Investment focus

  • Industry: Agriculture, AgTech, Farming
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 7
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Fyteko — For a more sustainable agriculture
  • BiocSol — BiocSol focus on sustainable microbial-based crop protection.
  • 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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Lumiares
VC Fund · Gent, Oost-Vlaanderen, Belgium · 1 investments in Belgium Medical Device startups

Guiding health technology towards a brighter future.

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Investment focus

  • Industry: Software, Health Care, Manufacturing
  • Stage:Pre-Seed
  • Geography: Belgium

Investor stats

  • Total investments: 2
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Koios Care — Koios Care is a startup in the field of digital health. Their objective is to develop innovative and validated digital daily activity biomarkers in order to improve care while lowering costs.
  • Nuclivision — Nuclivision is a company of experts assisting businesses, doctors and clinics all along the imaging workflow
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Carevolution
VC Fund · 1 investments in Belgium Medical Device startups

Offers health consulting services

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Investment focus

  • Industry: Health Care, mHealth, Therapeutics
  • Stage:Seed
  • Geography: Belgium, United States

Investor stats

  • Total investments: 3
  • Round size: Seed $1.1M–$4.1M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • moveUP — Ontvang medische zorg op afstand voor en na uw operatie. moveUP is gespecialiseerd in de begeleiding van knie- en heupoperaties.
  • Helpper — Helpper verbindt mensen die thuishulp zoeken voor dagelijkse taken, met hulpvaardige buurtbewoners die een centje willen bijverdienen.
  • Neuroventis — Neuroventis emboldening people with neurological disorders. Learn how our technology is changing the world of neurological care.
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Flanders Future Techfund
VC Fund · 1 investments in Belgium Medical Device startups

Flanders Future Techfund operates as an investment firm.

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Investment focus

  • Industry: Medical, Biotechnology, Clinical Trials
  • Stage:Seed, Series A
  • Geography: Belgium, The Netherlands

Investor stats

  • Total investments: 7
  • Round size: Seed $2.7M–$33M
  • Lead/follow: 14% lead, 86% 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.
  • Flindr Therapeutics — Immagene develops personalized cancer immunotherapies to fight multiple cancer type.
  • AmphiStar — We are developing a proprietary technology platform for the ecological production of biosurfactants, that are clean, safe, sustainable and biodegradable
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Invest BW
VC Fund · 1 investments in Belgium Medical Device startups

Invest BW is a funding program.

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Investment focus

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

Investor stats

  • Total investments: 4
  • Round size: Series A $1.1M–$19M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • IONNYK — IONNYK is a new medium of art photography, containing millions of tiny ink capsules.
  • Minagro — Minagro develops high-quality green products for crop care. Minagro conducts research activities in confirmed proprietary technologies from green and specialty chemistries.
  • 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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Delta Partners
VC Fund · Leopardstown, Dublin, Ireland · 1 investments in Belgium Medical Device startups

Early stage VC investments and funding for start-ups / founders in Ireland.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A
  • Geography: Ireland, United States, United Kingdom

Investor stats

  • Total investments: 110
  • Round size: Seed $795k–$2.7M; Series A $1.6M–$6.6M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $82M in 2022

Portfolio highlights

  • Kayna — Enhance your SaaS platform's value by integrating Kayna's insurance solutions. Drive additional revenue and offer more to your users with every policy sold.
  • WhatClinic.com — WhatClinic.com helps patients find, compare and book the right clinics for them, in more than 135 countries. They provide detailed listings for over 120,000 clinics on their site. These include doctors, dentists, beauty and cosmetic surgery, physiotherapy, fertility, holistics and a lot more. They believe that every patient is an empoweredconsumer.
  • Digit Game Studios — Founded in 2012, DIGIT is a cross-platform game developer based in Dublin, Ireland. We are the largest game developer in the country with an international team of experienced, passionate game-makers. Our first game, Kings of the Realm, was launched in September 2014 and is available on browser, iOS, Android and Windows.
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Earlybird Venture Capital
VC Fund · Berlin, Berlin, Germany · 1 investments in Belgium Medical Device startups

Founded in 1997, Earlybird is a pan-European VC investor backing tech-enabled companies and investing in their growth and development. Funds include Earlybird, Earlybird Health, Growth Opportunities.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: Germany, United States, United Kingdom

Investor stats

  • Total investments: 328
  • Round size: Seed $1.4M–$14M; Series A $4.4M–$35M; Series B $5M–$75M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $190M in 2024

Portfolio highlights

  • Hilo — Get stress-free readings round the clock with Hilo's clinically validated blood pressure monitor. Learn more
  • Neuracore — Neuracore is a robot learning platform that helps to train robots and deploy intelligent behaviour.
  • Nosh Biofoods — We create nutritional and highly functional proteins from non-GMO fungi. Our proprietary ferementation process is minimal, scalable, and sustainable.
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Medical Device VC funding in Belgium at a glance

Stats across 77 deals from 124 investors.

124
investors
in Belgium Medical Device startups
77
deals
in Belgium Medical Device startups
$6.9M
median round
in Belgium Medical Device startups
37%
lead investors
lead at least one round
23%
Series A
most common funding stage

Access all 124 VC funds in Belgium Medical Device startups.

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