Antwerp-based tech company Aloxy has secured a new capital injection of 7.4 million euros, with significant contributions from two major American corporations: chemical giant Dow and engineering company Emerson.
Founded in 2018 as a spin-off from Leuven’s Imec research center and the University of Antwerp, Aloxy specializes in Internet of Things (IoT) solutions for the chemical, oil, and gas industries.
Its key innovation is a sensor system that remotely monitors manual valves – crucial components in industrial plants where full automation is often too costly. These sensors provide real-time data on valve positions, improving operational efficiency and safety.
The latest funding round brings in Dow Venture Capital and Emerson Ventures as new investors, alongside existing stakeholders such as Qbic, Industrya, Innovation Fund, Imec.istart, and the University of Antwerp. The capital will support Aloxy’s expansion through partnerships and new product development.
Operating with a small team in Antwerp and Austin, Texas – both major chemical industry hubs – Aloxy counts Shell, BASF, Chevron, and Halliburton among its clients. While the company has yet to disclose revenue figures, it remained unprofitable in 2023, with 2024 financial results still pending.
With continued investment and strategic backing from industry leaders, Aloxy aims to strengthen its presence in industrial IoT and drive innovation in the sector.
