Belgium’s Hyperfox Secures €3.2M to Help Businesses Automate Order Processing Using AI
-
Loading... - Dalila Kettani
- 08 Jan 2025
- 44 Views
- 0 Like
- 0 Comment
Hyperfox, a startup based in Limburg, Belgium, has successfully raised €3.2 million in a seed funding round aimed at automating order processing through artificial intelligence. The funding round saw participation from several investors, including Volta Ventures, JK Invest, LRM, and Birdhouse Ventures.
This announcement follows a previous investment from Birdhouse Ventures and the company’s participation in the Birdhouse program. Additionally, VLAIO (Flanders Innovation & Entrepreneurship) provided significant funding to support the further development of Hyperfox's AI technology.
The newly acquired funding will enable Hyperfox to enhance its platform by adding features specifically designed for businesses engaged in order-to-stock and order-to-assembly processes. It will also facilitate the scaling of operations to meet the growing demand across various industries and regions.
Founded in 2023 at Corda Campus in Hasselt by Tom Devos and Bert Baeck, Hyperfox automates order processing by capturing and validating both structured (EDI, API, portal) and unstructured (email, phone) orders based on contracts.
Tom Devos, the founder of Hyperfox, explained, “At the start of Hyperfox, it was clear that we wanted to solve the back-office problem: manual order entry, lots of phone calls to follow up on orders, and all the errors and credit notes that result. Initially, we looked for the solution in a customer portal, but not every end customer wants to use it just like that. It is still easier to mail or call. We now solve that entirely with our AI.”
Hyperfox aims to optimize and streamline workflows with its AI-driven platform, ensuring optimal accuracy and efficiency. The company offers three versions of its product: Essential, Plus, and Enterprise, each tailored to different company sizes and needs.
- Essential Version: Automates order structuring with an AI tool and supports traditional API and EDI channels. It includes basic validation rules, allowing SMEs to effectively use AI for order management. The output is a validated file compatible with traditional order management or ERP systems.
- Plus Version: Offers two-way communication capabilities, enabling stock-level checks.
- Enterprise Version: Adds features for managing approval processes and tracking budgets.
Devos noted, “We have worked solidly over the last year to bring the right product to market. We have noticed since the last quarter, when we come to customers with our solution, that we are really able to unburden the back-office. Not the price, but when we can start implementing is the most frequently asked question. This is how we realize our mission: humans in flow.”
Volta Ventures, a seed and early-stage venture capital firm focused on software startups in the Benelux region, expressed confidence in Hyperfox's potential. Koen De Waele from Volta Ventures stated, “Hyperfox fulfills the urgent need of B2B companies to streamline their order management and offer the same speed and transparency as for B2C orders. Tom and the Hyperfox team combine their deep understanding of the supply chain and experience in digital transformation with innovative AI technologies. In this way, they help achieve superior customer service on top of an efficient back office.”
Birdhouse, one of Belgium’s leading accelerators, has supported Hyperfox's growth. Since its launch in 2016, Birdhouse has seen over 6,000 startups apply, with 153 selected for its program. Of those, 64 have raised a total of over €90 million in funding, showcasing a strong success rate. Vincent Jocquet from Birdhouse Ventures remarked, “The Hyperfox team is a textbook example of how a complementary team of serial entrepreneurs with a strong vision and the right framing can make great strides in the short term, both in terms of commercial growth and attracting the right type of growth capital.”
With this funding, Hyperfox is well-positioned to enhance its offerings and expand its impact on the order processing landscape, helping businesses streamline their operations through advanced AI solutions.
