Belgian Start-up UgenTec Receives Funding from European Investors

14-Apr-2015 - Belgium

UgenTec, a start-up company based in Belgium that develops laboratory software for automating PCR based DNA analysis, announced that it has received more than €1m in venture capital funding from a group of Belgian investors and an additional €250,000 in research funds from the IWT, a government agency for Innovation by Science and Technology. The investors include former MedHold (now part of Sonic Healthcare) CEO Annie Vereecken, Cartagenia CEO Herman Verrelst and a KULeuven investment group led by prof. Bart De Moor. LRM, a Belgian investment company will also support UgenTec with a loan of €100,000.

UgenTec will use the new funds for software development, international expansion including preparation for commercialization in the U.S. and recruitment, noted Wouter Uten, CEO of UgenTec.

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