ANTWERP - 9 APRIL 2019 - The Antwerp blockchain start-up, T-Mining, has completed a new financing round and welcomes Taste Invest (Westerlund) and PMV as new investors.
Today it was announced that T-Mining completed a new financing round in which both existing and new investors will endorse their confidence in the company. In addition to various existing shareholders, imec.istart, Taste Invest - the investment fund of the Westerlund family - and PMV are now also on board.
This financing round is an important milestone to be able to further invest in the development of new applications based on decentralized technologies such as blockchain, aimed at the maritime, port, logistics and transport industry," said Nico Wauters, CEO T-Mining. "We are very proud to welcome Taste Invest as a new investor. Westerlund is a big name in the maritime sector and, in addition, to a large international network, Westerlund has a strong track record as an early stage investor in pioneering technology. From the first meeting, we knew that Taste Invest would play an important strategic role for T-Mining. In addition, PMV is also investing in our further growth. Raising venture capital is not evident in Belgium, certainly for advanced technology start-ups. Even though the perception is sometimes different, that is why the support from PMV is crucial for us, and we value their trust. We are also delighted to be able to count on the support of imec.istart again. As a leading tech accelerator, imec.istart contributes not only money but also expertise, and that is important to professionalize. Finally, there are also several private investors who have reaffirmed their confidence in our team and want to support our ambitions fully."
Jean-Jacques Westerlund: "T-Mining is an absolute pioneer in blockchain within the port industry. As one of the first start-ups worldwide, they saw the potential of this technology for their sector. Furthermore, this is being done before the hype began. However, let’s be clear on the fact that blockchain technology within the Supply Chain still has to prove itself today. This is why we began looking for a team that had the ability to keep their feet on the ground.”
Philip De Mulder, Taste Invest: "Innovation is becoming increasingly important within our sector. Especially technology that enables better collaboration will play a crucial role in the coming years. Making better use of existing capacity, for example, is more and more dependent on the extent to which it is possible to collaborate efficiently between different parties. Blockchain technology plays a crucial role in this, and the T-Mining team has proven a lot in recent years."
Kris Vandenberk, Senior Investment Manager PMV: "In Flanders, the economic share of the port, logistics, and transport sector are very large. Investments that aim to improve chain cooperation are therefore important to safeguard the challenges that arise concerning sustainability and economic growth. As an Antwerp start-up, T-Mining has already demonstrated to be able to work out innovative concepts with large players based on decentralized technologies. We are therefore convinced that they can make a positive contribution to innovation in Flanders."
Sven De Cleyn, imec.istart Program Manager: "Given the social importance of the port sector, we have provided a specific track on logistics in our program. As one of the first start-ups in this sector, T-Mining has caught our attention from day one. Several of their blockchain applications have international recognition, making them one of the pioneers in their field. We are therefore happy to be able to support T-Mining as alumni of our program further."