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‘Tripadvisor for industrial technology’ attracts €1m of funds

25 August, 2022

A Belgian start-up which calls itself the “Tripadvisor for industrial technology” has attracted €1m of capital from three investment funds to help roll out its online review site for industrial automation equipment. Called Qviro, the search platform helps industrial users to make informed purchasing decisions based on reviews from other users.

“User reviews are already used a lot today on Web shops and consumer review platforms like Tripadvisor,” says co-founder Jorg Hendrikx, “but what makes Qviro so unique is that we use reviews in a professional context. We are the first company worldwide to collect reviews for the purchase and sale of industrial automation technology. Those reviews not only make it possible to make a good choice for a buyer, but they are also a source of market insights. We sell those data and insights to large industrial companies.”

Qviro says that “thousands” of engineers are already using the platform every month to buy technology. It adds that it is working with industrial companies including ABB, Doosan and Kinova.

Initially, Qviro is focusing on robots and accessories such as grippers, software, 3D vision systems and safety scanners. There are separate categories for articulated arm, delta, Scara and collaborative robots. There are plans to expand the site to cover other technologies such as PLCs, HMIs, CNC machines, communications gateways and 3D printers. In each category, users will be able to filter their searches by manufacturer and other attributes.

The is also a blog section offering advice on technologies covered by the site.

Qviro is currently based in Genk in Belgium and also has an operation in Antwerp. “The culture is ‘remote-first’,” explains co-founder, Sven De Donder. “We started during Covid, so we worked from home from the start. In addition, we have colleagues in Paris, Kuala Lumpur and Skopje. The users and customers of our review platform are located all over the world, so it is crucial that we also find that global culture in our team.”

Qviro says it is the first global Web site to offer user reviews of industrial automation equipment

Qviro is raising the latest €1m in growth capital from the investment funds LRM, Industrya and imec.istart.

“As an investment company, LRM has been actively looking for companies that capitalise on Industry 4.0 for years,” says the company’s general manager, Tom Vanham. “Qviro's intelligent business model pushes all existing boundaries and responds perfectly to the trend of user reviews where buyers fall back on online user experiences. In combination with the driven management team, their trajectory at imec.istart and the confidence of Industrya, we believe enormously in the further growth of Qviro.”

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