Benelux startups and scaleups to watch in 2022

The small but mighty Benelux region (comprising Belgium, the Netherlands and Luxembourg) has recently emerged as one Europe’s most strategic startup ecosystems.

Its sectoral diversity, tech-driven institutions and network of international talent have led to the birth of more than 15k startups over the past decade, with both the Netherlands and Belgium above average when it comes to the most startups per 1m population.

Amongst ever evolving developments, we’ve listed 100 startups to watch across the three countries — a mix of new faces, established scaleups and under-the-radar innovators spanning all major tech sectors. Find out who joins the likes of Dott, Otrium, Lightyear and Mosa Meat.

Note: all featured companies were launched in 2015 or later and have raised at least once in the past two years.

For in-depth early-stage analysis of all sectors and ecosystems, check out our Pro briefings.

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Amsterdam, Netherlands

2020

Series B

€127.3m

€167.3m

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Amsterdam, Netherlands

2018

Series B

€31.8m

€159.1m

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Helmond, Netherlands

2016

Late VC

-

€138.3m

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Amsterdam, Netherlands

2015

Series C

€105m

€135m

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Amsterdam, Netherlands

2017

Series C

€72.7m

€133.7m

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Ghent, Belgium

2017

Series B

€36.8m

€125.1m

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Brussels, Belgium

2017

Late VC

€2.7m

€115.7m

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Amsterdam, Netherlands

2018

Series A

€100m

€100m

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Maastricht, Netherlands

2016

Angel

-

€91.8m

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Leiden, Netherlands

2016

Grant

€17.5m

€75.8m

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Amsterdam, Netherlands

2019

Debt

€18.2m

€75.6m

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Amsterdam, Netherlands

2019

Series A

€63.6m

€73.8m

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Nieuwegein, Netherlands

2019

Growth Equity VC

€50m

€60m

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Delft, Netherlands

2018

Series A

€42.7m

€57.1m

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Leuven, Belgium

2015

Debt

€20m

€53.7m

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Naarden, Netherlands

2015

Series C

€40.9m

€52.2m

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Mont-Saint-Guibert, Belgium

2018

Series B

€40m

€51m

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Eindhoven, Netherlands

2018

Series B

€40.5m

€50.6m

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Rotterdam, Netherlands

2016

Series B

€12m

€50.5m

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Amsterdam, Netherlands

2017

Late VC

€45m

€47.5m

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Amsterdam, Netherlands

2018

Series B

€30m

€46.5m

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Luxembourg, Luxembourg

2021

Debt

€136.4m

€45.5m

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Ghent, Belgium

2017

Series B

€18m

€45.3m

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Brussels, Belgium

2016

Series B

€25m

€43m

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Amsterdam, Netherlands

2018

Series B

€36.4m

€42.8m

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Utrecht, Netherlands

2018

Series A

€39m

€40.4m

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Amsterdam, Netherlands

2019

Series A

€20.6m

€40m

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Kortrijk, Belgium

2015

Early VC

€20m

€36.5m

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Amsterdam, Netherlands

2017

Series A

€28m

€34.5m

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Amsterdam, Netherlands

2015

Late VC

€22m

€31.2m

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Amsterdam, Netherlands

2020

Seed

€31m

€31m

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Ottignies-Louvain-la-Neuve, Belgium

2015

Series A

€30m

€30m

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Brussels, Belgium

2016

Series B

€45.5m

€29.5m

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Rotterdam, Netherlands

2016

Series A

€18.5m

€27.2m

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Leiden, Netherlands

2016

Early VC

€22m

€26.3m

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Aalst, Belgium

2016

Series B

€21.1m

€25.3m

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Belgium

2017

Early VC

€24.7m

€24.7m

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Nieuwegein, Netherlands

2015

Series B

€15m

€24.5m

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Luxembourg

2017

Series B

-

€24.4m

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Antwerp, Belgium

2018

Series A

€21m

€24.2m

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Mamer, Luxembourg

2018

Series A

€17.3m

€23.4m

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Leiden, Netherlands

2020

Seed

€21.8m

€21.8m

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Eindhoven, Netherlands

2017

Series B

€10.5m

€21.4m

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Charleroi, Belgium

2021

Series A

€20m

€20m

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Amersfoort, Netherlands

2021

Early VC

€15m

€19.3m

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Amsterdam, Netherlands

2019

Series A

€15m

€19m

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Steenokkerzeel, Belgium

2015

Series C

€12m

€19m

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Ans, Belgium

2020

Series A

€18.3m

€18.3m

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Amsterdam, Netherlands

2017

Early VC

€10m

€17.9m

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Amsterdam, Netherlands

2019

Series A

€10.9m

€17.4m

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Brussels, Belgium

2017

Series A

€10m

€17.4m

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Eindhoven, Netherlands

2021

Seed

€10.9m

€17.1m

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Brussels, Belgium

2018

Series A

€11.5m

€16m

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Amsterdam, Netherlands

2020

Series A

€15.1m

€15.1m

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Amsterdam, Netherlands

2019

Seed

€14.6m

€14.6m

Logo

Amsterdam, Netherlands

2017

Series A

€11.6m

€13.7m

Logo

Amsterdam, Netherlands

2019

Seed

€13.6m

€13.6m

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Amsterdam, Netherlands

2021

Seed

€10.5m

€13m

Logo

Amsterdam, Netherlands

2018

Series B

€6.2m

€12.8m

Logo

Amsterdam, Netherlands

2018

Series A

€12.7m

€12.7m

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Amsterdam, Netherlands

2018

Early VC

€12.5m

€12.5m

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Ghent, Belgium

2018

Series A

€10m

€12m

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Antwerp, Belgium

2018

Series A

€11m

€12m

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Rotterdam, Netherlands

2018

Series A

€10m

€11.9m

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Leuven, Belgium

2019

Early VC

€7m

€11.5m

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Amsterdam, Netherlands

2019

Seed

€7.8m

€11.4m

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Amsterdam, Netherlands

2017

Early VC

€11.4m

€11.4m

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Luxembourg City, Luxembourg

2017

Early VC

€5m

€10m

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Livange, Luxembourg

2018

Early VC

€10m

€10m

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Maastricht, Netherlands

2021

Seed

€10m

€10m

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Amstelveen, Netherlands

2019

Series A

€7.3m

€9.1m

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Amsterdam, Netherlands

2020

Seed

€9.1m

€9.1m

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Mertert, Luxembourg

2015

Early VC

€8.9m

€8.9m

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Zwevegem, Belgium

2016

Series A

€6.6m

€8.6m

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Meise, Belgium

2020

Seed

€8.2m

€8.2m

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Amsterdam, Netherlands

2020

Series A

€7.9m

€7.9m

Logo

Amsterdam, Netherlands

2019

Seed

€6m

€7.8m

Logo

Amsterdam, Netherlands

2020

Series A

€7.5m

€7.5m

Logo

Amsterdam, Netherlands

2020

Series A

€4.8m

€7.3m

Logo

Amsterdam, Netherlands

2020

Seed

€7.3m

€7.3m

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Amsterdam, Netherlands

2017

Series A

€6.1m

€7.1m

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Broek op Langedijk, Netherlands

2019

Seed

€5m

€7m

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Leuven, Belgium

2022

Seed

€7m

€7m

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Luxembourg

2019

Early VC

€5m

€7m

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Luxembourg, Luxembourg

2018

Seed

€3.9m

€6.9m

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Amsterdam, Netherlands

2016

Series A

€6.4m

€6.9m

Logo

Amsterdam, Netherlands

2015

Seed

€5.2m

€6.5m

Logo

Amsterdam, Netherlands

2019

Seed

€6.4m

€6.4m

Logo

Amsterdam, Netherlands

2020

Seed

€4.3m

€6.1m

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Amsterdam, Netherlands

2018

Seed

€4m

€5.5m

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Enschede, Netherlands

2019

Seed

€5.5m

€5.5m

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Amsterdam, Netherlands

2019

Seed

€5.5m

€5.5m

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Hasselt, Belgium

2020

Seed

€5.5m

€5.5m

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Zaandam, Netherlands

2020

Seed

€5m

€5m

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Amsterdam, Netherlands

2019

Seed

€4.9m

€4.9m

Logo

Amsterdam, Netherlands

2019

Seed

€4.5m

€4.5m

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Luxembourg, Luxembourg

2018

-

€3m

€4.1m

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Delft, Netherlands

2021

Seed

€2m

€2m