Startup Luxembourg

Hall of Fame (june 2025)

Why Fundraising Can Be a Good KPI for Startup Success

Fundraising is often used as a KPI because it reflects external validation of a startup’s vision, team, and market potential. When investors commit capital, it signals confidence in the company’s ability to grow and execute. It also provides essential resources to scale operations, hire talent, and build the product. While not a measure of profitability or long-term viability, successful fundraising—especially from credible investors—can indicate strong momentum, storytelling ability, and strategic positioning. It’s most useful when seen as an enabler of growth rather than an end goal.

online mobile centric recruitment marketplace

Job Today (73,7 M EUR)

Eugene Mizin - Polina Montano

Job Today is the number 1 app for finding work in restaurants, bars, retail and more. Its mission touches everyone, helping millions find work in 24h.


Cloud services

G-Core Labs (~54,5 M EUR)

André Reitenbach (CEo) - Scott Flower

Founded in 2014, Global provider of edge computing, cloud infrastructure, CDN, hosting, streaming, and cybersecurity services, with a strong emphasis on edge AI scalability.

SpaceTech

OQ Technology (~53,1 M EUR)

Omar Qaise

Founded in 2016, OQ Technology operates a live LEO satellite constellation (~10+ satellites launched) that delivers 5G-capable NB‑IoT service and targets a future shift to direct-to-smartphone capabilities. Their dual-mode terminal supports both terrestrial NB‑IoT (4G/5G-LTE M) and satellite links, enabling asset tracking and IoT applications in remote locations without terrestrial coverage

Climate Tech

Sustaincert (~47 M EUR)

Marion Verles

SustainCERT enhances the credibility of climate action by offering digital carbon project verification (e.g. VERRA, Gold Standard, JCM) and value-chain impact validation, including their Impact Units system for shared Scope 3 claims. Their platform integrates climate expertise with tech for scalable, trust-driven verification and supports global clients.

Climate Tech

Hydrosat (~37,2 M EUR)

Pieter Fossel (co-founder)

Hydrosat develops and operates a cutting-edge satellite constellation (VanZyl-1, VZ-2, etc.) providing high-resolution, daily thermal infrared and multispectral data at ~30 m spatial resolution. Their AI-powered analytics—delivered via the IrriWatch platform—help track irrigation needs, drought risk, wildfire hotspots, urban heat islands, ocean temperature patterns, and security applications. The company serves government agencies (e.g., NOAA, NRO, U.S. Air Force), agribusiness, insurers, and urban planners across 50+ countries

eCommerce

Salonkee (~35,4 M EUR)

Tom Michels (CEO) - Andre Stehle - Samuel Faber - Alexandre J. Claro - Gilberto Fernandes Cardoso

All‑in‑one SaaS booking and management platform for hair, beauty, and wellness salons across Europe—covering online scheduling, POS, CRM, payments, loyalty, inventory, analytics, and finance tools

crypto exchange and virtual asset service provider

Blocktrade (~33,5 M EUR - Crowfunding)

Founded in 2018, Blocktrade is a dynamic, regulated crypto startup in Luxembourg offering a gamified exchange experience. It stands out for its equity tokenization via EU public offerings and its broadened vision with the EPIC roadmap.

OSINT Software

Tadaweb (~32,9 M EUR)

Genna Elvin - François Gaspard

Tadaweb offers a “Small Data” OSINT/PAI platform, blending human intuition with technology to help governments, law enforcement, corporates, and media analyse volatile, publicly available information in real time. It scales analysts’ capabilities—turning days of research into minutes—with high standards of security, transparency, and ethics .

Fintech

HQlax (~24,4 M EUR)

Guido Stroemer

Founded in 2017, Distributed Ledger Technology (DLT) for collateral mobility in securities finance and repo markets—enabling frictionless, precise, real-time ownership transfers across custodial and triparty systems.

cloud management (SaaS)

Emma | Cloud Management Platform (~22,1 M EUR)

Dmitry Panenkov

No code multi-cloud management platfprm optimizing cloud costs and operations

Mobility

Ufodrive (~20 M EUR)

Aidan Mc Clean - Renaud Marquet

Founded in 2018, UFODRIVE offers a smartphone‑controlled, contactless, all-electric car rental service (e.g., Tesla, Polestar, VW, Cupra), alongside a powerful eMobility SaaS solution (“UFOFLEET”) for managing EV fleets. With global hubs across Europe and North America, it enables “arrive & drive” in ~2 minutes, supports fleet operators like Hertz and Uber, and emphasizes sustainability, AI‑based fleet optimization, and enterprise integrations.

Fintech (Fund Ops)

Next Gate Tech (~19,1 M EUR)

David Martucci (CEO) - Semin Ibisevic (CTO)

Data-driven fund administration SaaS automating back-office processes (NAV, risk, compliance).

Construction and climate tech

Leko Labs (~18,4 M EUR (2022) - previous unknown))

François Cordier

Founded in 2017, LEKO Labs offers a patented prefabricated system (walls, floors) made from engineered wood that can replace up to 75% of concrete and steel in buildings. The system features AI optimization to reduce wood use by ~50%, ensures energy efficiency with thinner walls, and enables 50% faster on-site construction via its robotics-powered factory. Buildings using their solution can reduce heating and cooling needs by up to 87%, while capturing carbon throughout their lifecycle.

Fintech (Blockchain)

Tokeny (~15,3 M EUR)

Luc Falempin (CEO) - Daniel Coheur (COO)

Tokeny enables asset managers and financial institutions to issue, manage, and transfer tokenized securities on blockchain using their T-REX platform. Their compliant token standard (ERC‑3643) and services power the infrastructure behind digital securities.

Cleantech (Battery upcycling and recycling)

Circu Li-ion (~12,5 M EUR)

Antoine Welter - Xavier Kohll

Automates Li-ion battery disassembly and diagnostics for reuse, aiming to recycle 3B batteries by 2035.

Fintech (Digital Fund Operations)

Fundcraft (~11 M EUR)

Julien de Mayer - Victor Martin Garcia - Olga Porro

Luxembourg-based platform digitizing fund management (AIFM/admin) for VCs, PEs, and FoFs.

Password and access management

Passbolt (~10,6 M EUR)

Kevin Muller (CEO) - Cédric Alfonsi - Rémy Bertot

Open-source tool for secure team password sharing and access control, used by over 40,000 organizations.

e-procurement

Shipsta (~8,9 M EUR) (acquired)

Christian Wilhelm

Founded in 2015, offers a digital procurement platform connecting shippers and carriers to automate RFQs, tendering, and rate benchmarking

Payment platform

CarPay Diem (~8,5 M EUR)

Frédéric Stiernon (CEO) - Alain Tayenne (COO)

Founded in 2016, Mobile fueling and in‑vehicle payment platform — enabling fuel pump and EV charging activation via smartphone apps or connected vehicles, paired with digital marketing tools for retailers

Social Media Platform for sustainability

Greenworlder (~7,5 M EUR)

Daniel Kelemtz (CEO) - Urban Gillström - Peter Bartholin

Founded in 2021, community-driven app to share eco-stories, track carbon footprints, earn “green tokens” via sustainable actions, and engage in a gamified network aimed at turning daily behaviors into climate impact.

Fintech (Tokenized assets / Blockchain fintech)

STOKR (~7,4 M EUR including 100 BTC)

Anab Naskar - Lennart Ante - Tobias Seidl

Platform for tokenizing and trading real-world assets on Bitcoin’s Liquid network.

AI‑powered D2C e‑commerce platform

MarketLeap (~7,3 M EUR)

Mamoun Benkirane - Mekki Mouaddeb

Automates marketplace operations to help D2C brands scale globally.

Saas / VideoTech

Videobot (~5,5 M EUR)

Matias Mâenpââ - Anssi Kiviranta

Founded in 2022, enables brands to embed interactive elements—branching paths, buttons, forms, CTAs—into short-form videos on websites and apps. Offers rich analytics and AI to optimize funnels. Used in 20+ countries by 200+ brands, customers see up to 5× higher conversions and improved satisfaction

Fintech

The Hokus platform (~4,5 M EUR)

Fabrice Sauvignon

Provides private banks and insurance companies with digital life insurance intermediation solutions in open architecture.

Gaming industry

Machinations (4,4 M EUR)

Mihai Gheza (CEO) - Joris Dormans

Machinations transforms game economy design by offering a Turing-complete visual language for designers, enabling Monte Carlo simulations and real-time balancing. This allows rapid iteration, reducing the risk of imbalanced systems—used in 35,000+ professional workflows and 400+ university programs globally~.

Climate InsurTech

IBISA (~4,3 M EUR)

Maria Mateo Iborra (CEO) - Annette Houtekamer - Carolina Parisi - Jesus Pena Garcia

Luxembourg‑based startup (founded 2019) offering cost‑effective, scalable parametric microinsurance—auto-triggered payouts for smallholder farmers—powered by satellite data and blockchain. Active in Asia & Africa; partners include local insurers, NGOs like BRAC/DHAN, and global reinsurers.

Industrial AI

Wizata (4,1 M EUR)

Jean-François Hugo - Philippe Maes - Dario de la Puente

Founded in 2014, pivot to product ca 2018, Wizata is a Luxembourg-born industrial AI scale-up founded by Hugo, Maes, and de la Puente. It offers a comprehensive AI platform that digitizes, models, and operates manufacturing processes.

AI solution

Email Tree (~3,9 M EUR)

Casius Morea

E-mail management solution

PropTech (Digital operating system for real estate

Kodehyve (~3,6 M EUR)

Félix Hemmerling (CEO) - Julien Cassse (CTO)

Luxembourg-based B2B SaaS platform offering an end-to-end OS for property developers and stakeholders—streamlining project management, e-signatures (lux-sign), compliance (AML/KYC), BI, and financial workflows

Climate Tech

ClimateCamp (~3,5 M EUR)

Stijn Gysemans (CEO) - Laurent Moyersoen (CCO) - Ruben Pelckmans (CPO) - Vitalie Schiopu (CTO)

ClimateCamp enables companies to accurately calculate their Scope 1, 2, and 3 emissions, engage suppliers to improve emissions data quality, set reduction targets and streamline sustainability reporting (e.g., CSRD, SBTi) .

Fintech / MusicTech (Music royalties marketplace)

Anote Music (~3,3 M EUR)

Marzio F. Schena (CEO) - Matteo Cernuschi (COO) - Grégoire Mathonet (CTO)

Luxembourg‑based platform enabling individuals and institutions to invest in and trade music royalties—creating liquidity and accessibility in an asset class historically reserved for insiders

Proptech

Fiveoffices (~3,2 M EUR)

Robert Glaesner - Daniel Schneider

Founded in 2022, B2B marketplace that helps companies sublease or share unused office space—addressing the rise in hybrid work models post-COVID.

HR Tech

Zortify (~3,1 M EUR)

Dr Florian Feltes - Dr Marcus Heidbrink

Founded in 2018, Zortify builds deep‑tech NLP tools for HR, turning open-text responses into objective personality and leadership insights. Their modular offerings—zortifySELECT, GROW, TEAM, CULTURE, LEADER—help recruiters identify toxic traits, develop talent, enhance team performance, and foster healthy cultures. Supported by embedded research labs and explainable AI, their solutions serve enterprise clients like Mitsubishi, Spuerkeess, Thalia, and Salonkee .

Fintech

Moniflo (~3 M EUR)

Georges Bock - Ala Presenti - Eric Falk

Launched in 2024, Moniflo is a values-driven investment platform accessible via mobile app (iOS & Android). It allows users to filter funds by ethical criteria, visualize impact (using ClarityAI), and invest in tokenized UCITS via blockchain, benefiting from lower custody fees and full transparency.

E-Commerce platform

Partao (~3 M EUR)

Alex Ootes (CEO) - VirginiaBaillie Strong - Hamlet Aslanyan

Founded in 2025, Partao launched as a B2B2C platform aiming to be the go-to sourcing solution for millions of industrial parts across Europe. They facilitate digital discovery and ordering of components for tractors, heavy machinery, and construction equipment—streamlining procurement for independent mechanics and small dealerships.

MedTech

Arspectra (~2,6 M EUR)

Cédric Spaas (CEO)

Develops proprietary AR glasses and platforms (ARC, REA, CART 3D) for surgical guidance, remote assistance, data visualization, and telemedicine—all designed to enhance precision and workflow in operating rooms. Deploys in general surgery, oncology, orthopedics, and veterinary care

Biotech

Probiotic group (~2,5 M EUR)

Martin M.G. Schoonbroodt

Founded in 2014 in the Netherlands and relocated to Luxembourg by 2016, Probiotic Group develops sustainable probiotic formulations under its Provilan® brand, targeting hard surface cleaners, cosmetics, pet care, and environmental sectors.

Artificial Intelligence Virtual Artist

Aiva Technologies (~2,4 M EUR)

Pierre Barreau - Denis Shtefean - Vincent Barreau

Founded in 2016 by three musician-entrepreneurs, AI composing emotional soundtracks for video games, commercials and any type of entertainment content.

MedTech

MDSim (~2,3 M EUR)

Roger Assaker (CEO)

Founded in 2023, AI-powered spinal care platform (SPINEsim) for surgery planning and back-pain prevention (medical simulation technology).

Healthtech / Artificial inelligence

Helical AI (~2,2 M EUR)

Maxime Allard - Rik Schneider - Mathieu Klop

Luxembourg‑based platform offering open‑core bio AI tools—access to cutting‑edge DNA/mRNA models, HPC integration (via MeluXina), and turnkey AI workflows to accelerate drug discovery

Agir-InsurTech

OKO Finance (~2,2 M EUR)

Simon Schwall - Shehzad Lokhandwalla - Raphael Haziza - Ferdinand Amenyah

Founded in 2018 in Israel; relocated in 2019 in Luxembourg, OKO provides parametric, index-based crop insurance—automated payouts triggered purely by weather or satellite data, without traditional claims processes. Its USSD-enabled platform and local call centers support weather alerts, agronomy tips, and microcredit. They've insured 15,400+ farmers in Mali and 300+ in Uganda, with nearly 3,000 claims processed and ~36 farmers supported via microloans

Digital twin

Datathings (~2,1 M EUR)

Gregory Nain - Assaad Moawad - François Fouquet

Founded in 2107 as Spin-off from the University of Luxembourg's SNT, DataThings develops AI-powered software that enables real-time data analysis and predictive insights for industries through digital twin technology.

SpaceTech

SPiN (~2 M EUR)

Ran Qedar (CEO) - Giulia Federico - Saish Sridharan

SPiN offers a “Modularity-as-a-Service” concept centered on the MA61C universal satellite adapter—a plug-and-play avionics data-node that standardizes satellite subsystem integration, cutting design costs by ~50%, production costs by ~30%, and integration time by about one year.

Space /Biotech

Exo Biosphère (~2 M EUR)

Kyle Acierno (CEO)

Founded in 2024, World’s first space-based drug discovery CRO, using microgravity (orbital) platforms for pharmaceutical R&D.

online platform for sport organization

Clubee (~1,9 M EUR)

Gilles Mangen - Tim Wiltgen

Founded in 2014, AI-powered SaaS platform designed for sports clubs, federations, leagues, and non-profit organizations.

Proptech / Saas - Childcare management

Kidola (~1,9 M EUR)

Quentin de Madre (CEO) - Jonathan Kindermans - Simon Lelorrain

Founded in 2021, all-in-one daycare management app for childcare centers – streamlining admin tasks and parent communication.

AI / Voice-Tech

Elora (~1,7 M EUR)

Mattieu Detaille (CEO) - Reyhaneh Niknejad

Founded in 2021, AI-powered call assistant platform to automate business phone calls and transcribe insights (in early beta stage).

Cleantech / Recycling

Uplift360 (~1,6 M EUR)

Jamie Meighan (CEO) - Sam Staincliffe (CTO)

Founded in 2021, based in Luxembourg and Bristol, the startup uses low‑impact chemical processes to recycle advanced fibers and composites—removing resin at room temperature and regenerating continuous, high-value fibers for industries like defense, aerospace, automotive

Touchless interface

iNUI Studio (~1,5 M EUR)

Olivier Raulot (CEO)

Founded in 2010, Human–machine interaction / Customer service SaaS — originally known for touchless kiosk hardware (AIRxTOUCH), the company has pivoted strongly toward software, especially live video support (SkaLink) for customer service

Construction Tech

Buildbuild (~1,4 M EUR)

Marko Mihic Jeftic (CEO)

Founded in 2021, SaaS platform for construction SMEs to track project status and budgets in real time, automating reporting and workflows.

Software

Yotako (~1,4 M EUR)

Alfonso Garcia Frey

Yotako is a Luxembourg-based AI startup (est. 2016) that automates the transition from design to code, especially focusing on WordPress integration via its new native plugin.

DeepTech

AM 4 AM (~1,3 M EUR)

Maxime Delmée

Founded in 2019, AM 4 AM (Advanced Materials for Additive Manufacturing) deploys a patented cold plasma treatment to enhance conventional metal powders—most notably “HiperAl,” an aluminum alloy powder with best‑in‑class mechanical performance and crack‑free properties. Their eco-friendly process enables high-strength, lightweight parts for aerospace, automotive, and space sectors, while reinforcing a European, sustainable supply chain.

Construction Tech

Gamma AR (~1,2 M EUR + undisclosed amount from Autodesk)

Caner Dolas (CEO) - Jayan Jenavesan (CTO)

Founded in 2019, Augmented Reality solutions for the construction sector, leveraging BIM to overlay 3D models on-site for improved accuracy, defect detection, progress tracking, and efficient handovers

Proptech

Roommate (~1,2 M EUR)

Mattia Raffaelli

Founded in 2019 and awarded support (e.g., Fit4Start), RoomMate offers seamless digital management of rental properties—automating tenant communications, rent collection, maintenance requests, and multi-channel listing integration. The Channel Manager synchronizes inventory across listing platforms to reduce vacancies and boost occupancy.

Fintech (Blockchain-based otkenization of bonds & credit)

Frictionless (Frictionless Markets) (~1,2 M EUR)

Pat Hourigan (CEO) - Brendan Flanagan - Alex Garmash

Founded in 2022, Luxembourg-based platform enabling institutional investors and small businesses to issue and trade tokenized private-credit securities on the blockchain in a compliant, efficient way.

SpaceTech

Mission Space (~1,1 M EUR)

Alexey Shirobokov - Mary Glazkova (CEO)

Founded in 2021, Luxembourg-based company building a nanosatellite constellation (24+ “Zohar” sensors) and AI-powered models to forecast geomagnetic storms, solar flares, radiation, and space weather events with up to 96‑hour advance strategy—offering ~200–230 % better accuracy versus legacy systems; clients include satellite operators, aviation, energy, and defense sectors

e-commerce

Yollty (~1,1 M EUR)

Alexandros Trepeklis

Yollty is a lean Luxembourg SaaS empowering SMEs globally to deploy frictionless, eco‑friendly loyalty programs with deep CRM, messaging, referral, and review tools. Founded by Alexandros Trepeklis in 2016.

Fintech

A352 (Financial Navigator) (~1,1 M EUR)

Dr Jürgen Wolff - Christophe Lemoine - Daniel Steinhauf

Founded in 2020, SaaS solution for financial planning and portfolio management, received Jeune Entreprise Innovante innovation grant support in Luxembourg.

Fintech / RegTech

Cascade Lab (~1 M EUR)

Maxciej Waloszyk - Declan O'Hannrachain

Founded in 2019, SaaS platform for fund admin & compliance, consolidating client registries and automating KYC/AML processes for financial firms..

RegTech

Mopso (~1 M EUR)

Andrea Danielli - Enrico Fagnoni

Founded in Milan in 2021 but expanded to Luxembourg in 2022, Compliance platform for automating regulatory reporting and risk management (notably in financial services).

PropTech / Fintech

BlocHome (~1 M EUR)

Jean-Paul Scheuren - Raphaël Scheuren - Maroun Altekly

Founded in 2021, Real estate investment platform using tokenization to let individuals invest fractionally in property deals.

Biotech

InvitroLize (~1 M EUR)

Dr Arno Gutleb - Sabina Burlà - Asier Sesma

Founded in 2022, Lab-on-chip technology for in vitro chemical risk testing (respiratory toxicology); spun out of the Luxembourg Institute of Science & Technology (LIST).

SpaceTech

Databourg (~1 M EUR) - Acquired

Dr Ahmad Gharanjik (CEO) - Julian Krebs (CTO)

Founded in 2017, Databourg emerged as a spin-out from the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT), which incubated the original rainfall monitoring innovation