Belgian tech companies attract record 1.43 bn euros in investments
Belgian tech companies raised a record 1.43 billion euros in investments in 2024, almost double the amount raised in 2023, an analysis by technology federation Agoria showed on Thursday. Almost half of all investments went to companies active in the field of artificial intelligence. The green energy sector also attracted a lot of money.
While the number of investment deals fell from 155 in 2023 to 125 this year, the average size per deal rose sharply. According to Frederik Tibau, innovation expert at Agoria and author of the analysis, this indicates that Belgium's tech companies are becoming more mature.
Flanders dominates the list with a total of 1.06 billion euros in investment, ahead of Brussels at 150 million euros and Wallonia at 190 million euros. According to Agoria, Ghent is Belgium's "tech capital": 520 million euros was invested in 26 companies in the city, thanks in part to a capital injection into hotel software company Lighthouse, worth 350 million euros.
Quick recovery
The tech industry took a hit across Europe in 2023, but seems to be recovering faster in Belgium. According to Tibau, this is because venture capital funds and experienced entrepreneurs are reinvesting.
However, there is a widening gap between fast and slower growers. "Investors are becoming more demanding and concentrating on the strongest cases, making it more difficult for other companies to obtain financing," he said.
"Investors are becoming more demanding and concentrating on the strongest cases"
The positive figures are unexpected. In October, Agoria warned of the loss of 12,000 jobs in the Belgian technology sector in 2024 and 2025. However, the more traditional manufacturing industry, such as car companies, seems to be taking the hit.
© BELGA PHOTO DAVID STOCKMAN
Related news
