Qviro, a company, based in Belgium, that offers review platforms to factories and engineers, received €1 million in growth capital from LRM, Industrya and imec.start.
Qviro’s platform uses the Industry 4.0 release to launch an online market. In the past, the business received support from the VBS Entrepreneurship Fund, Vlaio, and Digital Attraxion.
Helping in purchasing decision
The Qviro search platform is used to determine the most optimal-fit products for industrial users. This was accomplished thanks to the help of Jorg Hendrikx and Sven De Donder.
Qviro is the first company in the world to use reviews for industrial automation technology in buying and selling processes. Their unique approach is fueled by the fact that they collect professional reviews for their clientele. These insights can help buyers choose the best possible equipment and also allow market researchers to study purchasing patterns. Afterward, these data are sold to large companies around the world.
Thousands of engineers use the platform to purchase technology every month. Additionally, Qviro is in talks with several industrial companies— including ABB Switzerland, Doosan Korea and Kinva Canada.
Thanks to support from the institute of Microelectronics, Engineering and Computer Science, the Qviro team also works from The Beacon in Antwerp. Their SaaS platform provides data and market intelligence to vendors. Qviro is based in Genk and its teams operate at the same time.
When the company started out, employees worked remotely at home. Additionally, Covid’s employees are located in Paris, Kuala Lumpur and Skopje— the three cities where the company’s reviews are hosted. The CEO and co-founder of the company Sven De Donder explained that it’s important to find a global culture among its employees.
LRM describes itself as an investment company with a history of searching for companies that capitalize on the 4.0 version of Industry 4.0. Their search for companies capitalizing on Industry 4.0 was due to their history of involvement as an investor company. Qviro’s business model responded perfectly to the trend of user reviews, and its management team was motivated by the confidence in the growth of Industrya— which makes us exceptionally confident in Qviro’s trajectory at imec.istart.
At the end of 2021, Qviro became the first start up to go through Industrya’s incubation program. The incubation program was impressed with Qviro’s business model which provides a change in the buying process of technology such as Robots and industry 4.0. Chief Investment Officer of Industrya, Alexandre Braconnier, said ‘Qviro was nurtured by a powerful ecosystem in Belgium and is now ready for the world.’ Alongside management and co-investors, Industrya looks forward to supporting Qviro’s international growth.