Mobile data analysis technology developer Sentiance, based on Vrije Universiteit Brussel and Ghent University research, has received additional capital from Qbic.
Belgium-based data science technology developer Sentiance closed an €8m ($9m) round yesterday that featured the $45m multi-university venturing fund Qbic.
VC fund Volta Ventures led the round, which also included KPN Ventures and Samsung Catalyst Fund, respective subsidiaries of telecoms firm KPN and electronics manufacturer Samsung, Pamica and Sentiance senior management.
Founded in 2015, Sentiance uses machine learning algorithms to analyse mobile technology sensor data in order to establish patterns of behaviour in such environments as driving, health and exercise and smart homes.
The spinout exploits research conducted at Vrije Universiteit Brussel and Ghent University, two of the institutions that Qbic focuses on.
The company’s total funding so far stands at approximately $17m. Samsung Catalyst Fund led its $5.2m series A round in November 2015, investing together with Qbic, Volta Ventures, Pamica and Nova Participations.
Qbic had previously also contributed to a $2m seed round in January 2015 alognside Volta Ventures and angel investors. That round followed earlier funding supplied by Strike4 and Negotiae.
Toon Vanparys, chief executive of Sentiance, said: “As the internet of things (IoT) gains momentum consumers are rapidly adopting smart objects in their everyday lives.
“The sensors in these IoT devices generate a ton of data about how they behave and why they behave the way they do. Sentiance helps companies make sense of this new and very powerful data.
“Some of the world’s most innovative companies are adopting our platform to help them make their customers’ lives safer, smarter, healthier and more convenient. Ultimately the internet of things should be about people, not things. We believe the real promise of IoT is the internet of you.”
– A version of this article first appeared on our sister site Global Corporate Venturing.
