Qviro, “Tripadvisor for industrial technology” based in Belgium, acquires a growth capital of 1 million euros

Qviro, an online robotics marketplace based in Genk, Belgium, announced on Thursday that it had secured €1 million in growth capital from investment funds LRM, Industrya and imec.istart. The Belgian company says it will use the funds to roll out its online marketplace for Industry 4.0.

The company had previously received financial support from the Vlerick Business School Entrepreneurship Fund, Vlaio and Digital Attraxion.

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Qviro: what you need to know

Founded by Sven De Donder and Jorg Hendrikx, Qviro digitizes the procurement process of industrial technologies such as robots and machines.

“User reviews are already used a lot today on online shops and consumer review platforms like Tripadvisor,” says co-founder Jorg Hendrikx. “But what makes Qviro so unique is that we use reviews in a business context. We are the first company in the world to collect reviews on buying and selling industrial automation technology. These reviews help to make a good choice for a buyer and are also a source of market information. Then we sell this data and information to large industrial companies. »

Based on an intelligent search platform, Qviro’s review platform helps factories and engineers make buying decisions with confidence. At the same time, it provides suppliers with market information and data on potential customers.

Co-founder Sven De Donder said: “Users and customers of our review platform are located all over the world, so it’s crucial that we find this global culture in our team as well.”

Currently, thousands of engineers use the platform every month to purchase technology. The company also works with industrial companies like ABB (Switzerland), Doosan (Korea) and Kinova (Canada).

Investors

LRM is an investment company that claims to provide a solid foundation for businesses and projects that create jobs in Limburg to grow.

“As an investment firm, LRM has been actively seeking companies that capitalize on Industry 4.0 for years,” says Tom Vanham, Managing Director of LRM.

He adds, “Qviro’s smart business model pushes all existing boundaries and responds perfectly to the user review trend where buyers fall back on online user experiences. Combined with the motivated management team, their trajectory at imec.istart and the confidence of Industrya, we strongly believe in the continued growth of Qviro. »

Industrya is a 42M€ investment fund that invests in startups serving industrial transformation. The fund offers incubation and acceleration programs and invests in bold and innovative startups and scale-ups that want to shape the industry and the world of tomorrow. The investment sectors are energy transition, new materials and Industry 4.0.

“Qviro was the first startup to go through our incubation program in 2021. We were immediately impressed with how their innovative business model enables evolution in the buying process for technologies such as robots and industrial 4.0″, says Alexandre Braconnier, Chief Investment Officer. of Industriea. “Qviro has been nurtured by a strong ecosystem in Belgium and is now ready for the world. Together with management and co-investors, Industrya looks forward to supporting Qviro’s international growth. »

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