UgenTec, a Hasselt, Belgium-based laboratory software developer, raised €1.35m in funding.
A Belgian investor group provided €1m, IWT, a government agency for Innovation by Science and Technology, provided €250k, while Belgian investment company LRM provided a €100k loan. 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.
The company intends to use the funds for software development, international expansion including preparation for commercialization in the U.S. and recruitment.
Led by Wouter Uten, CEO, UgenTec has developed the FastFinder platform for automating PCR based DNA analysis to help trace respiratory infections, STIs and various types of cancer. It is currently used by several medical diagnostic laboratories in Benelux, Germany and France and the company is planning to recruit extra .NET developers and biotechnicians for various roles.
FinSMEs
10/04/2015