Qviro Raises 1 million Euros in Growth Capital!
‘Tripadvisor' for industrial technology wants to roll out globally!
It has been a very exciting time at Qviro with our new team members, events traveled to and attended and evolution of the category pages on our website, and to top it off raising 1 million euros in growth capital. The capital growth is from investment funds LRM, Industrya and imec.istart to extend the expansion of our online marketplace for Industry 4.0.
“The fresh capital confirms the potential of the start-up of Qviro.”
This goes without saying that we have previously received financial support from organizations such as Vlerick Business School Entrepreneurship Fund, Vlaio and Digital Attraxion.
What makes our story unique is that we are the first review platform for the industry. Qviro helps industrial users make informed purchasing decisions, this is supported by the notion that people depend on review sites in their personal lives and we are convinced that this trend will revolutionize the industry.
Qviro are proud that thousands of engineers use the platform every month to buy technology and proud to be working with industrial companies such as ABB (Switzerland), Doosan (Korea) and Kinova (Canada)!
Let’s get into the thick of it!
Driven by online reviews
"User reviews are already used a lot today on webshops and consumer review platforms like Tripadvisor," says co-founder Jorg Hendrikx.
"What makes Qviro so unique is that we use reviews in a professional context. We are the first company worldwide to collect reviews for the purchase and sale of industrial automation technology.”
- Jorg Hendrikx, co-founder of Qviro.
“Those reviews not only make it possible to make a good choice for a buyer, but they are also a source of market insights. We sell those data and insights to large industrial companies."
"As an investment company, LRM has been actively looking for companies that capitalize on Industry 4.0 for years,"
- Tom Vanham, general manager at LRM.
"Qviro's intelligent business model pushes all existing boundaries and responds perfectly to the trend of user reviews where buyers fall back on online user experiences. In combination with the driven management team, their trajectory at imec.istart and the confidence of Industrya, we believe enormously in the further growth of Qviro."
Qviro is currently based in Genk and the team also works from The Beacon in Antwerp thanks to imec.istart. "But the culture is 'remote-first', we started during Covid so we worked from home from the start. In addition, our colleagues are in Paris, Kuala Lumpur and Skopje," says co-founder Sven De Donder.
"The users and customers of our review platform are located all over the world, so it is crucial that we also find that global culture in our team."
- Sven De Donder, co-founder of Qviro.
"Qviro was the first start-up to go through our incubation program in 2021. We were immediately impressed with how their innovative business model is providing an evolution in the buying process of technology such as robots and industry 4.0,"
- Alexandre Braconnier, Chief Investment Officer of Industrya.
"Qviro was nurtured by a powerful 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."
To find out more details and read the official press release, click here.