- Belgium Tech saw a total of $50.1M invested across 4 funding rounds in October 2021. The largest rounds were a $22M Series B for Novadip and an $18.2M Series B for Rejuvenate Biomed. - New investors in October included invest-bw.de, TIIN Capital, Rejuveron Life Sciences, Adjacent, and Volta Ventures. - There were 4 acquisitions during the month, including Ectosense being acquired by ResMed and iController being acquired by Billtrust for $58M.

1. TRACXN MONTHLY REPORT
OCTOBER 2021
BELGIUM TECH

2. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
2
Belgium Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 7
Acquisitions 8
Recent News 9

3. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Belgium Tech Snapshot – October 2021
Belgium Tech: Snapshot – October 2021
Note : "Investors" refers to "Institutional Investors" only
3
$50.1M
4
Overall Geo Stats
5
4
14
7
5
Funding Rounds $ Invested Analyst Picks
Biobest!@#
New Investors
invest-bw.de
TIIN Capital
Series A+ rounds Active Investors IPOs Acquisitions
Ectosense
iController
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Mont-saint-guibert
(1 Rounds, $22.0M)
Hasselt
(1 Rounds, $18.2M)
Antwerp
(1 Rounds, $5.5M)
Leuven
(1 Rounds, $3.3M)
$22.0M - Series B
Novadip (2013, Mont-saint-guibert, $53.3M)
$18.2M - Series B
Rejuvenate Biomed (2017, Hasselt,
$22.0M)
$5.5M - Series A
DESelect (2001, Antwerp, $5.5M)
$3.3M - Series B
Sweepatic (2016, Leuven, $4.4M)
SRIW
(1 Investments)
PMV
(1 Investments)
Vives Fund
(1 Investments)
New Science Ventures
(1 Investments)
Orthopedics
Novadip
Life Sciences Platforms and Tools
Dermatology
Rejuvenate Biomed
Sales Force Automation
DESelect
Market Size
Companies Covered 4,006
Funded Companies 1,143
Total Funding $5.3B
Funding in last 12 months $1.1B
Top Exits
IPOs 28
Acquisitions 207
Company Stage
Unicorns 2
Soonicorns 15
Minicorns 95
Editor Picks 414
Series A+ 246
Series C+ 49
Acqui-Hires 1
Deadpooled 228
Top Cities
Brussels (151 Rounds, $1.3B)
Ghent (79 Rounds, $535M)
Top Investors
PMV (52 Investments)
SRIW (38 Investments)

4. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Belgium Tech as of October 2021
Belgium Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (October 2021)*
Novadip
(2013, Mont-saint-guibert, $53.3M)
$22.0M - Series B New Science Ventures
Rejuvenate Biomed
(2017, Hasselt, $22.0M)
$18.2M - Series B Rejuveron Life Sciences
DESelect
(2001, Antwerp, $5.5M)
$5.5M - Series A Adjacent
Sweepatic
(2016, Leuven, $4.4M)
$3.3M - Series B TIIN Capital
RESPONSUM
(, Zaventem, $1.2M)
$1.2M - Seed Volta Ventures
*Shows only the lead Investors

5. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Belgium Tech in October 2021
Belgium Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$3.3M - Series B
Sweepatic (2016, Leuven, $4.4M)
Cloud based vulnerability assessment and
reconnaissance exposure detection
PMV, TIIN Capital, eCAPITAL
EARLY STAGE
$5.5M - Series A
DESelect (2001, Antwerp, $5.5M)
Cloud based platform offering solutions for Salesforce
data visualization
Adjacent, Pieterjan Bouten, Louis Jonckheere, Federico
Larsen
EARLY STAGE
$18.2M - Series B
Rejuvenate Biomed (2017, Hasselt, $22.0M)
Developer of drugs for treating sarcopenia
Rejuveron Life Sciences, Vesalius Biocapital III
EARLY STAGE
$22.0M - Series B
Novadip (2013, Mont-saint-guibert, $53.3M)
Developer of stem cell-based therapies for bone
healing disorders and bone defects
New Science Ventures, Fund+, , , SRIW, and 2 more
SEED STAGE
$1.2M - Seed
RESPONSUM (, Zaventem, $1.2M)
Cloud based data privacy and security management
software provider
Volta Ventures

6. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors
List of New Investors in Belgium Tech in October 2021
Belgium Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
invest-bw.de
1 portfolio companies | Startseite » Invest BW: Investitions- und
Innovationsförderung
Novadip
Developer of stem cell-based therapies for bone healing disorders and
bone defects
$22.05M Series B
TIIN Capital
22 portfolio companies | VC & PE firm focused on tech companies
Sweepatic
Cloud based vulnerability assessment and reconnaissance exposure
detection
$3.26M Series B
crcplifesciencefund.vdtrxn
1 portfolio companies | Limited information available
Novadip
Developer of stem cell-based therapies for bone healing disorders and
bone defects
$22.05M Series B
Adjacent
2 portfolio companies | Limited information available
DESelect
Cloud based platform offering solutions for Salesforce data visualization
$5.50M Series A
Rejuveron Life Sciences
1 portfolio companies | Developer of drugs for treating age related diseases
Rejuvenate Biomed
Developer of drugs for treating sarcopenia
$18.16M Series B

7. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲5 Business Management Software $215M 1 Odoo | $215M | Series D
2 ▲21 Life Sciences Research Services $131M 3 Univercells | $85.2M | Series C
3 ▲17 Online Ordering Solutions $65.0M 1 Deliverect | $65.0M | Series C
4 ▲30 Adult Stem Cell Based Therapeutics $45.8M 2 Promethera | $23.8M | Series E
5 -- Customer Identity Verification $29.3M 1 itsme | $29.3M | Series B
6 ▼-5 Drugs for Multiple Cancer Types $25.8M 1 Imcyse | $25.8M | Series B
7 -- Diabetes Drugs $25.8M 1 Imcyse | $25.8M | Series B
8 -- Neurological Disorder Drugs $23.8M 1 NeuVasQ Biot.. | $23.8M | Series A
9 ▲24 Hepatic Disorder Drugs $23.8M 1 Promethera | $23.8M | Series E
10 ▲7 COVID-19 Drugs $22.7M 1 ExeVir Bio | $22.7M | Series A

8. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Belgium Tech in October 2021
Belgium Tech: Acquisitions
8
Acq. Date Company Acquirer Deal Size
01 Oct 2021
Ectosense(2015, Leuven, $1.9M)
Medical solutions for sleep disorders
ResMed
12 Oct 2021
iController(2007, Ghent)
Credit management solutions for businesses
Billtrust $58.0M
22 Oct 2021
DOBCO Medical Systems(2011, Sint-niklaas, $2.6M)
Web-based medical imaging solutions for healthcare professionals
Dedalus
27 Oct 2021
Plastiflex(1953, Beringen, $0.1M)
Hose system solutions for healthcare and industrial applications
IK Partners

9. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Belgium Tech in October 2021
Belgium Tech:News
9
Exit News
.
● Prophix expands its reach and capacity with the acquisition of Sigma Conso
GlobeNewswire
.
● Billtrust Acquires iController, a Belgium-based B2B Collections Software
ProviderBusiness Wire
.
● Agomab Therapeutics to Acquire Origo Biopharma Business Wire
.
● IK Partners acquires Plastiflex Private Equity Wire
.
● Companyweb has gone through an MBO process sponsored by Sofindev
Corporate Finance International
.
● ResMed : Acquires Ectosense, a Leader in Connected Home Sleep Testing Stock
Screener
.
People News
.
● Zoetis names new head of R&D, as current leader announces retirement NJ
.
● Bone Therapeutics appoints Scientific Advisory Board for iMSC cell and gene
therapy platform developmentGlobeNewswire

10. Belgium Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Belgium Tech on Tracxn Platform
Belgium Tech: Explore more on Tracxn Platform
10
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Belgium
AI Companies in Belgium
Fintech Companies Belgium
Consumer Digital in Belgium
Company Due Diligence
Detailed profile of Collibra
Competitors of Odoo
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
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Upcoming Events
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