The Innovation Fund

The Innovation Fund, founded in 2015 and based in Schaerbeek, Belgium, is a venture capital firm that focuses on investing in a diverse range of sectors, including healthcare services, life sciences, material science, biosciences, process technology, and recycling technology. The firm specifically targets companies involved in healthcare devices, supplies, and commercial services, as well as businesses operating in the fields of cosmetics, advanced materials, and nanotechnology. By supporting innovative companies across these industries, The Innovation Fund aims to foster growth and development in sectors that contribute to advancements in health, sustainability, and technology.

Pol-Henry Bonte

Principal

François Cornelis

Founder, CEO and Chairman

30 past transactions

Aloxy

Venture Round in 2025
Aloxy specializes in providing industrial Internet of Things (IoT) solutions tailored for the process industries, including chemical, oil, and gas sectors. The company offers a range of services such as manual valve position monitoring, emergency shower management, line blinds, device management, network monitoring, and data integrity. Aloxy's modular systems incorporate advanced sensors and inertial chips to detect various environmental conditions, enabling clients to automate processes and gain actionable insights. By delivering reliable and user-friendly products, Aloxy aims to enhance operational safety, efficiency, and sustainability in industrial environments.

Fyteko

Series B in 2025
Fyteko is an agtech company based in Brussels, Belgium, founded in 2014. The company specializes in the development and production of advanced bio-stimulants designed to enhance plants' resistance to abiotic stress, such as drought and extreme temperatures. Fyteko focuses on creating bio-based technologies that aim to improve crop productivity and quality while addressing the environmental impact of agriculture. Its innovative biostimulant biomolecule allows plants to better withstand both biotic and abiotic stresses, supporting farmers in their efforts to cultivate resilient and high-quality crops.

Graftys

Venture Round in 2022
Graftys is an early-stage company based in Aix-en-Provence, France, specializing in advanced bone biologics. The company develops synthetic bone biomaterials intended for use in reconstructive orthopedic surgery. Graftys offers a range of innovative, safe, and fully injectable calcium phosphate bone graft substitutes tailored for specific clinical applications. This focus allows the company to provide high-quality and standardized products that enhance outcomes in bone reconstructive and trauma surgery, addressing the needs of both healthcare professionals and patients.

Aloxy

Venture Round in 2022
Aloxy specializes in providing industrial Internet of Things (IoT) solutions tailored for the process industries, including chemical, oil, and gas sectors. The company offers a range of services such as manual valve position monitoring, emergency shower management, line blinds, device management, network monitoring, and data integrity. Aloxy's modular systems incorporate advanced sensors and inertial chips to detect various environmental conditions, enabling clients to automate processes and gain actionable insights. By delivering reliable and user-friendly products, Aloxy aims to enhance operational safety, efficiency, and sustainability in industrial environments.

SENSE in

Venture Round in 2022
SENSE manufactures monitoring solutions for various industries such as aerospace, automotive, renewable energy, and civil engineering. Their products include thermomechanical sensors that detect deformation, pressure, temperature, humidity, and other parameters in real-time or periodically. These solutions alert users to abnormal behavior, threshold overruns, and potential damage, enabling proactive maintenance and enhancing structural safety.

Terakalis

Series A in 2022
Terakalis is a company that specializes in the development of non-destructive testing equipment for the analysis and control of materials and industrial processes. Established through a technological partnership with the Charles Coulomb laboratory in 2012, Terakalis focuses on TeraHertz electromagnetic waves, which range from 100 GHz to 10 THz. The company's offerings include a variety of both generic and custom-made products and systems designed to inspect materials for internal defects and to characterize their physical and chemical properties. By providing integrated line-of-production equipment and portable alternatives, Terakalis enhances operational efficiency for businesses across various sectors.

Saturne Technology

Venture Round in 2022
Saturne Technology, established in 2001 and based in Sandweiler, Luxembourg, specializes in advanced manufacturing processes using lasers. The company offers services such as additive manufacturing via selective laser melting, laser welding, cutting, drilling, and reloading. It caters to diverse industries including aerospace (civil and military), automotive, nuclear, medical, art and jewelry, research and development, and food processing, both domestically and internationally with exports to Europe, the USA, and Mexico.

Timeseer.AI

Seed Round in 2022
Timeseer.AI is a technology company focused on enhancing the connected industry economy through reliable Industrial Internet of Things (IIoT) data. It has developed a low-code platform for time series data operations and observability, aimed at facilitating augmented analytics. By integrating machine learning and natural language processing, Timeseer.AI prepares time-series analytics that allow businesses to extract valuable insights and statistics from their data. The company is dedicated to increasing the power and value of data, treating it as a significant asset for its clients.

Daphne Technology

Series B in 2021
Daphne Technology SA is a climate technology company based in Ecublens, Switzerland, founded in 2017. The company specializes in catalyst-free, nano-technology solutions designed to help the petrochemical, power, and transportation industries significantly reduce air emissions in accordance with international and national regulations. Its patented technology effectively breaks down toxic pollutants, converting them into non-hazardous elements or valuable by-products. This miniaturized solution is particularly well-suited for marine vessels and offers a cost-effective alternative to existing technologies by lowering both capital and operational costs without necessitating a switch in fuel sources. As a result, Daphne Technology addresses environmental challenges by enabling a cleaner and more sustainable approach to emissions management across various sectors.

VOCSens

Seed Round in 2021
VOCSens is a company focused on developing innovative environmental monitoring solutions, particularly through its flagship product, EnviCam®. This advanced environmental camera enables users to visualize chemical and biochemical molecules that are otherwise invisible to traditional monitoring methods. The company has also established a proprietary manufacturing process, CMOSEnvi™, which integrates nanotechnology with conventional CMOS technology, enabling the production of microelectronic gas sensors. These sensors detect raw electrical signals from their sensing elements, which are then processed through proprietary artificial intelligence algorithms to provide accurate concentration data. VOCSens's technology aims to support various industries, including agriculture, food, chemicals, wastewater, and pharmaceuticals, by delivering critical insights and aiding in the control of industrial emissions.

Cognivia

Series B in 2019
Cognivia is a company that focuses on developing analytical tools aimed at optimizing and accelerating the clinical development of new medicines. Its innovative tools employ predictive techniques to enhance the clinical evaluation of drugs and other therapeutics. By addressing and mitigating the variability in clinical trial data, Cognivia enables its clients to identify and manage critical sources of variability, ultimately improving the efficiency and effectiveness of clinical trials.

Graftys

Series A in 2019
Graftys is an early-stage company based in Aix-en-Provence, France, specializing in advanced bone biologics. The company develops synthetic bone biomaterials intended for use in reconstructive orthopedic surgery. Graftys offers a range of innovative, safe, and fully injectable calcium phosphate bone graft substitutes tailored for specific clinical applications. This focus allows the company to provide high-quality and standardized products that enhance outcomes in bone reconstructive and trauma surgery, addressing the needs of both healthcare professionals and patients.

Daphne Technology

Series A in 2019
Daphne Technology SA is a climate technology company based in Ecublens, Switzerland, founded in 2017. The company specializes in catalyst-free, nano-technology solutions designed to help the petrochemical, power, and transportation industries significantly reduce air emissions in accordance with international and national regulations. Its patented technology effectively breaks down toxic pollutants, converting them into non-hazardous elements or valuable by-products. This miniaturized solution is particularly well-suited for marine vessels and offers a cost-effective alternative to existing technologies by lowering both capital and operational costs without necessitating a switch in fuel sources. As a result, Daphne Technology addresses environmental challenges by enabling a cleaner and more sustainable approach to emissions management across various sectors.

Aloxy

Series A in 2018
Aloxy specializes in providing industrial Internet of Things (IoT) solutions tailored for the process industries, including chemical, oil, and gas sectors. The company offers a range of services such as manual valve position monitoring, emergency shower management, line blinds, device management, network monitoring, and data integrity. Aloxy's modular systems incorporate advanced sensors and inertial chips to detect various environmental conditions, enabling clients to automate processes and gain actionable insights. By delivering reliable and user-friendly products, Aloxy aims to enhance operational safety, efficiency, and sustainability in industrial environments.

Univercells

Series B in 2018
Univercells is a company specializing in high-density, low-cost biomanufacturing solutions aimed at enhancing the production of biologics, including antibodies, proteins, and vaccines. The company leverages innovative engineering and proprietary technologies, such as single-use systems and continuous process intensification, to significantly reduce capital investments by over 75% and the cost of goods by up to 90%. Univercells offers a range of services, including scale-X hydro, scale-X carbo, and NevoLine, which support both research and development and commercial-scale production of biologics. Additionally, the company provides integrated services like equipment confirmation, capacity and facility design, and bioprocess excellence, facilitating the scalability of cell and gene therapy manufacturers from clinical trials to commercial manufacturing. Through its commitment to making biologics more accessible and affordable, Univercells addresses critical global health challenges.

Zeopore

Seed Round in 2018
Zeopore Technologies NV is a Belgian company established in 2017, specializing in the production of mesoporous zeolite for the refining and petrochemical industries. The company develops innovative mesoporisation technologies aimed at enhancing efficiency in catalytic refining processes. Zeopore offers a range of products and services, including zeolite catalysts, catalysis, post-synthetic modification, and molecular sieves. By focusing on next-generation zeolite catalysts, Zeopore enables clients to improve their petrochemical conversions, utilize bio-renewable feedstocks, and convert plastic waste more effectively, all while maintaining cost efficiency.

PharmaFluidics

Venture Round in 2018
PharmaFluidics is a Brussels-based spin-off from the Vrije Universiteit Brussel, focusing on developing and manufacturing micro-chip based chromatography columns for use in biomarker, diagnostics, and drug research applications. The company leverages its expertise in chemical engineering and micro-fabrication technology to create high-quality solutions tailored for mixing, separation, and reaction processes at milli- to nano-scales. Their products enable researchers to identify active compounds in complex biological samples more efficiently and sensitively.

REIN4CED

Seed Round in 2017
REIN4CED is a manufacturer that specializes in developing advanced composite materials for the bicycle industry. The company has created a fiber-strengthened carbon composite that incorporates specifically developed steel fibers, resulting in a product that offers enhanced impact resistance. This innovative material maintains high stiffness and low weight, making it ideally suited for durable and lightweight bicycle frames. By focusing on the intersection of safety and performance, REIN4CED aims to provide cyclists with robust yet efficient solutions that enhance both the longevity and safety of their bicycles.

Blue Foot Membranes

Seed Round in 2017
Blue Foot Membranes is a start-up company founded in 2017 in Lommel, Limburg, specializing in the production and commercialization of the Integrated Permeate Channel (IPC™) technology. This patented technology is utilized in Membrane Bioreactors designed for the treatment of industrial and municipal wastewater. The company manufactures washable flat sheet membranes that offer enhanced fouling control, leading to improved filtration efficiency. By enabling effective physical cleaning of filtration systems, Blue Foot Membranes supports industries and municipalities in their efforts to reuse wastewater, contributing to more sustainable water management practices.

Proceedix

Venture Round in 2017
Proceedix is a Software as a Service (SaaS) company that provides a centralized platform for managing enterprise procedures, work instructions, and checklists. The platform enables organizations to digitize their workflows, allowing operators and inspectors to execute tasks efficiently and remotely. By using mobile devices and smart glasses, Proceedix helps businesses reduce reliance on paper, enhance quality, and improve safety across operations. The solution is designed to be device-agnostic, facilitating seamless connectivity among the workforce and supporting the principles of Industry 4.0 technology. Through its innovative approach, Proceedix aims to streamline processes and empower employees to perform their tasks anytime and anywhere.

Acar'Up

Venture Round in 2017
Acar'Up develops and design a trap device designed to extract and kill the allergenic dust mites living in mattresses, chairs, carpets and other upholstered furniture.

Iristick

Seed Round in 2017
Iristick is a Belgium-based company that specializes in the creation of industrial smart glasses designed to facilitate the digital transformation of enterprises. The company's products support frontline workers in various sectors, including maintenance, logistics, quality control, and telemedicine, by providing hands-free remote assistance, step-by-step workflow guidance, and pick-by-vision logistics. Iristick's smart eyewear leverages smartphone processing power to minimize radiation exposure and reduce deployment costs, making it an effective tool for industrial sites and corporate clients. The company's innovative approach has garnered recognition, including a Red Dot Award and an H2020 European Commission Innovation Grant, along with multiple patents. Iristick serves a global customer base, contributing significantly to the advancement of Industry 4.0.

Aerosint

Seed Round in 2017
Aerosint is a Belgian company founded in 2016, dedicated to the research and development of innovative additive manufacturing processes, particularly in the field of 3D printing. The company has developed a unique selective powder recoating technology that allows for the deposition of fine powder layers composed of multiple materials. This technology enables multimaterial 3D printing by sintering different powders within each layer, effectively achieving a zero-waste process for high-performance polymers. Aerosint's advancements not only enhance the efficiency of 3D printing but also reduce costs, making it a significant player in the additive manufacturing landscape.

MATHYM

Venture Round in 2016
Mathym is a biomedical company specializing in the development and supply of colloidal nanomaterials, particularly for dental applications. The company creates nano-dispersions that enhance the properties of various medical devices, ensuring a stable and uniform distribution of nanoparticles in liquids. In addition to dental applications, Mathym's products cater to multiple industries, including fine ceramics, photonics, displays, and semiconductor manufacturing. By providing these advanced materials, Mathym supports researchers and manufacturers in achieving improved performance and reliability in their applications.

Fyteko

Seed Round in 2016
Fyteko is an agtech company based in Brussels, Belgium, founded in 2014. The company specializes in the development and production of advanced bio-stimulants designed to enhance plants' resistance to abiotic stress, such as drought and extreme temperatures. Fyteko focuses on creating bio-based technologies that aim to improve crop productivity and quality while addressing the environmental impact of agriculture. Its innovative biostimulant biomolecule allows plants to better withstand both biotic and abiotic stresses, supporting farmers in their efforts to cultivate resilient and high-quality crops.

X4C

Seed Round in 2016
X4C specializes in developing advanced monolayer chemical coating technology for a variety of life science applications. The company creates molecular coatings tailored for in vitro diagnostics, medical devices, electronics, and optics. X4C's innovative platform employs a unique approach to surface coating that allows for the precise grafting of robust organic monolayers. This technology enables healthcare professionals to impart specific functionalities to substrates while maintaining their inherent properties. Additionally, X4C offers a range of products, including nanoparticles and calixarenes, along with customized services to meet the diverse needs of its clients in the life sciences sector.

TrendMiner

Venture Round in 2016
TrendMiner, established in 2008, is a leading provider of advanced industrial analytics software. Headquartered in Belgium with offices in the U.S., Germany, Spain, and the Netherlands, the company offers a fast, powerful, and intuitive platform for real-time monitoring and troubleshooting of industrial processes. TrendMiner's platform enables data-driven decision-making by providing robust data collection, analysis, and visualization. It partners with major industry players like Amazon, Microsoft, SAP, and Siemens, and integrates with various data historians. The company's self-service analytics platform uses pattern recognition and machine learning to help clients optimize process performance and drive operational intelligence.

Lisam Systems

Venture Round in 2016
Lisam Systems is a global provider of environmental, health, and safety (EH&S) compliance management software solutions, headquartered in Ecaussinnes, Belgium. Established in 1999, the company specializes in developing software that assists organizations in managing safety data sheets (SDS) and labels, ensuring compliance with regulatory standards. Its flagship product, ExESS, offers an enterprise-wide solution for creating, managing, and distributing GHS-compliant safety documentation, catering to various industries including chemicals, cosmetics, and specialty gases. Lisam Systems also provides a range of additional services such as software installation, customization, training, regulatory advisory, and technical support. With a focus on user-friendly technology and up-to-date regulatory content, Lisam serves over 800 clients worldwide, delivering innovative solutions to address the compliance challenges faced by manufacturers, distributors, and users of chemical products.

InOpSys

Seed Round in 2015
InOpSys NV is a company based in Mechelen, Belgium, that focuses on the development and construction of flexible, modular, and mobile units for onsite treatment of toxic wastewater. The company specializes in providing sustainable solutions for the purification of industrial wastewater streams, particularly for the chemical and pharmaceutical sectors. By enabling the recovery of water and raw materials for reuse, InOpSys contributes to improved water quality and assists industries in achieving their sustainability objectives.

PharmaFluidics

Venture Round in 2014
PharmaFluidics is a Brussels-based spin-off from the Vrije Universiteit Brussel, focusing on developing and manufacturing micro-chip based chromatography columns for use in biomarker, diagnostics, and drug research applications. The company leverages its expertise in chemical engineering and micro-fabrication technology to create high-quality solutions tailored for mixing, separation, and reaction processes at milli- to nano-scales. Their products enable researchers to identify active compounds in complex biological samples more efficiently and sensitively.
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