Press release

Aloxy raises €7,4 million from Dow Venture Capital, Emerson Ventures and existing investors to accelerate its global expansion

Antwerp, March 2025 - Aloxy, a leading Internet of Things company offering innovative solutions for the chemical and energy industry, announces that it raised €7,4 million from Dow Venture Capital, Emerson Ventures and its existing investors Qbic fund, Industrya fund, Innovation fund, imec.istart fund and the University of Antwerp to accelerate its global expansion.

As a spin-off of the University of Antwerp and imec, Aloxy developed an IndustrialInternet of Things (IIoT) solution that combines wireless sensors and a software solution to provide real-time insights in manual operations in chemical and oil & gas production facilities. Aloxy’s IIoT solution digitally monitors a vast array of equipment, including the open/close position of all types of manual valves, the activation of emergency showers and the status of line blinds. By employing the Aloxy technology, companies can reduce the risk of mistakes that can lead to safety hazards, downtime, or extra costs.

‍Ryan Henry, Venture Capital Director for Dow Inc.,said “Dow is both an investor and a customer because after a successful pilot we believe Aloxy offers one of the most innovative and cost-effective technologies in the industry today.”

Aloxy was established in 2018 to support the chemical and oil & gas industries in their transition toIndustry 4.0. Aloxy leverages low-power wide-area network (LPWAN) communication technologies, such as LoRaWAN, to enable seamless and cost-effective industrial connectivity. As the Industry 4.0 movement accelerates, leading companies worldwide are investing in IoT and wireless infrastructure to enhance operational capabilities.

 "IIoT valve monitoring is a game-changer for industrial operations, boosting safety and efficiency by providing real-time data on valve positions and significantly reducing the risk of human error. It fits with our vision of adopting innovative technologies to enhance operational performance, supporting our safety objectives and ensuring a safer workplace", said Monika Tall, Global Digital Manufacturing Project Manager for Dow Inc.

Today, Aloxy is active in over 30 countries worldwide. The company’s global customer base includes industry leaders such as Dow, Shell, BASF, Chevron, Halliburton, among others. Aloxy is headquartered in Antwerp, Belgium, and has a satellite office in Austin, Texas.

As global leaders in their respective industries — Dow being one of the world’s leading chemical companies and Emerson the global leader in industrial automation —.

“Aloxy’s technology has the potential to bring a new level of visibility to manual valve assets, giving plant operators access to data that was previously out of reach,” said Thurston Cromwell, head of EmersonVentures and vice president of development and innovation at Emerson. “As an industrial technology leader, we look forward to collaborating in support of their vision.”

The funds raised will allow Aloxy to accelerate its growth on a global scale through channel partnerships and launch new products that will support customers with new use-cases and offer software applications to effectively process and manage all the generated data.

“The investment and partnership with Dow and Emerson will further accelerate the adoption of IIoT technologies and creates unique opportunities to develop additional solutions that generate real value for the end user. The team is excited to work with Dow and Emerson to take the company to the next level.” Frank Gielissen, CEO Aloxy

Aloxy’s existing investors Qbic Fund, Industrya Fund, Innovation Fund, imec.istart fund and the University of Antwerp continue supporting the company by participating in this investment round.

Sofie Baeten, Managing Partner at Qbic Fund and Chair of the Board of Aloxy comments,“As an early investor, Qbic believes in the strength of Aloxy’s technological foundation and the value its solutions bring to industrial operations. We are proud to continue supporting the company as it builds on its initial commercial traction and accelerates global expansion. This investment reaffirms our commitment to fostering deep-tech innovation and helping companies scale their impact.”

About Aloxy

Aloxy, established in 2018 as a spin-off from the University of Antwerp and imec and builds reliable industrial Internet of Things solutions tailored to the needs of the chemical and oil & gas industries. The company’s technology makes assets smart, allows to automate processes further and deliver actionable insights into industrial operations. For more information, visit http://www.aloxy.io/

About Emerson

Emerson (NYSE: EMR) is a global industrial technology leader that provides advanced automation. With an unmatched portfolio of intelligent devices, control systems, and industrial software, Emerson delivers solutions that automate and optimize business performance. Headquartered in Saint Louis, Missouri, Emerson combines innovative technology with proven operational excellence to power the future of automation. For more information, visit Emerson.com.

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About Dow

Dow (NYSE: DOW) is one of the world’s leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, focused innovation, leading business positions and commitment to sustainability enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 30 countries and employ approximately 36,000 people. Dow delivered sales of approximately $43 billion in 2024. References to Dow or the Company mean Dow Inc. and its subsidiaries. ​​​​Learn more about us and our ambition to be the most innovative, customer-centric, inclusive and sustainable materials science company in the world by visiting www.dow.com.

About Qbic

Qbic is a sector-agnostic seed and early-stage venture capital fund, focusing on creating impact through the transformation of technological breakthroughs into sustainable business. The fund’s goal is to support young innovative companies that valorize research from Qbic's knowledge partners. The fund typically participates in the first external investment round of a company and continues to support and invest in these companies throughout their growth. Across 3 funds, Qbic has close to € 200 million in AUM. For further information, visit http://www.qbic.be/

About Industrya

Industrya is a 42-million-euro investment fund for start-ups and scale-ups, looking to drive industrial transformation. The fund seeks to invest in bold, innovative start-ups that are keen to shape tomorrow’s industry. It focuses on B2B industrial start-ups in the energy transition, new materials and Industry 4.0. Industrya was set up by John Cockerill, in association with SFPIM, WE, Noshaq and LRM. For further information, visit http://www.industrya.com/

About Innovation Fund

Innovation Fund SA/NV is an early stage investor that focuses on start-ups that have a operational link with the chemicals industry. It is backed by a mix of leading chemicals companies and local financial investors. For further information, visit https://www.innovationfund.eu/

About imec.istart

imec.istart – imec’s business accelerator –  is the first investor and supporting partner to scale your tech startup. The initial investment by the imec.istart Fund of 100k EUR is accompanied by personal coaching and mentoring, access to technology and working facilities, access to a broad (inter)national network of partners and investors and more. Since its launch in 2011, imec.istart helped more than 340 tech startups in diverse fields to develop into sustainable ventures. imec.istart is ranked world's best university linked Business Accelerator by UBI Global. For further information, visit https://www.imecistart.com/

About University of Antwerp

University of Antwerp is a young, dynamic and forward-thinking institution committed to high-quality education, creative and innovative research, societal engagement, and knowledge valorization. With a broad academic offering across nine faculties, the university provides an environment where both students and staff actively contribute to shaping the future. Within the university, the Valorization Office supports researchers in translating academic research into market-ready solutions, driving socio-economic impact. The university's commitment to fostering entrepreneurship is reflected in its growing number of spin-offs. For further information, visit https://www.uantwerpen.be/en/research/info-for-companies/

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