UgenTec is a Hasselt, Belgium–based medical technology company that developed AI-driven PCR analysis and workflow software. Its flagship product, FastFinder, automates and standardizes high-throughput molecular diagnostics by reducing technician workload and improving result reliability using reproducible artificial intelligence. The company has launched partnerships with molecular diagnostic firms including R-Biopharm, Fast Track Diagnostics (a Siemens Healthineers company), and MDxHealth. UgenTec is led by CEO Steven Verhoeven and CCO Tom Martens and is hiring for over 14 positions spanning product development, sales, and marketing. It closed a $9.3M (€7.5M) funding round and plans to use the proceeds to consolidate its position in clinical diagnostics, set up a US office, and expand into new markets. Investors in the round included existing shareholders Annie Vereecken and Herman Verrelst, IMEC, Gemma Frisius Fund, KU Leuven, the management team, and investment firm LRM. UgenTec develops FastFinder, an AI-driven software that interprets molecular test results and automates PCR workflows to standardize outputs and reduce subjectivity. The Limburg-based startup's software targets time-consuming and difficult parts of PCR testing. It has closed 10 major contracts recently with large diagnostic laboratories and companies developing molecular diagnostic tests. The company raised new financing to support growth and international expansion. The financing consists of equity and debt and is intended to boost its international sales. No revenue or user figures were disclosed in the article. UgenTec is a Hasselt, Belgium–based laboratory software developer focused on the FastFinder platform for automating PCR-based DNA analysis. FastFinder is used to help trace respiratory infections, STIs and various types of cancer and is currently deployed in several medical diagnostic laboratories in Benelux, Germany and France. Led by CEO Wouter Uten, the company plans to use the new funding to advance software development and drive international expansion, including preparation for U.S. commercialization. The €1.35m financing will also support recruitment efforts; the company intends to hire additional .NET developers and biotechnicians. The article notes the company’s immediate commercial footprint in Europe and its intent to scale operations and sales abroad.

Total raised

$13M

Funding rounds

5

Latest round

Equity

Latest activity

Mar 2018