Hot Startups in Portugal

Last update: August 16th, 2021

As co-founder/CEO of Infraspeak, co-founder of Founders Founders (scale-up incubator), and former Head of Technology Center and Acceleration Program at UPTEC, I’m deeply involved in the Portuguese Startup ecosystem.

As a hobby, I keep track of the “Hot Startups in Portugal”, “VC Funds actively investing in Portuguese startups in the pre-seed, seed, series A, series B, and late stages” and the most relevant events happening in the Portuguese Startup Scene like “exits”, “funding rounds” and “startup post-mortem articles”.

So, it’s not unusual for investors to ask me: Which are the hot startups in Portugal? Which startups should I meet? Which should I invest in?

Here is my answer:

Road to IPO, Unicorns & Decacorns

Talkdesk (Call Center Software || San Francisco, Lisbon, Porto)
Total money raised: $497.5M from Willoughby Capital, Whale Rock Capital Management, Viking Global Investors, Top Tier Capital Partners, TI Platform Management, Franklin Templeton Investments, Amity Ventures, Alpha Square Group, Skip Capital, Lead Edge Capital, DFJ, Salesforce Ventures, Storm Ventures, 500 Startups, and more
Last round valuation: $10 billion
Website, Crunchbase, Angelist

Outsystems (Software || Atlanta, Lisbon)
Total money raised: $572.1M from Abdiel Capital, Tiger Global Management, Goldman Sachs, KKR & Co, North Bridge Venture Partners & Growth Equity, Armilar Venture Partners, and more
Last round valuation: $9.5 billion
Website, Crunchbase, Angellist

Feedzai (Software, Analytics, Big Data || Coimbra, San Mateo, Porto)
Total money raised: $277.5M from KKR & Co, Data Collective, Sapphire Ventures, Citi Ventures, Oak HC/FT, Armilar Venture Partners, and more
Last round valuation: $1.3 billion
Website, Crunchbase, Angellist

Remote (HR, Financial Services, Fintech || Remote, Braga)
Total money raised: $196M from Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, Day One Ventures, Liquid2, INKEF Ventures, Remote First Capital, and more
Last round valuation: $1.0 billion
Website, Crunchbase

Road to Series D, E, F & Centaurs

Anchorage (Blockchain, Crypto, FinTech || San Francisco, New York, Porto)
Total money raised: $137M from GIC, Andreessen Horowitz, Blockchain Capital, Indico Capital Partners, Lux Capital, and more
Website, Crunchbase

Bizay (Printing, e-commerce || Lisbon)
Also known as: 360 Imprimir / 360 Online Print
Total money raised: $63.9M from European Investment Bank, Indico Capital Partners, LeadX Capital Partners, Omnes Capital, Pathena, Shilling Capital Partners, and PME Investimentos (200M Co-investment Fund)
Website, Crunchbase, Angelist

DefinedCrowd (AI, Machine Learning, Marketplace || Seattle, Lisbon, Porto)
Total money raised: $63.6M from Balderton, Semapa Next, Hermes GPE, Evolution Equity Partners, MasterCard, Kibo Ventures, SWAN Venture Fund, Portugal Ventures, Microsoft Accelerator, Amazon Alexa Fund, Sony Innovation Fund, Bynd Ventures, and more
Website, Crunchbase, Angellist

Prozis (E-commerce, Fitness, Nutrition || Porto)
Total money raised: Bootstrapped
Website

Seedrs (Crowdfunding || London, Lisbon)
Total money raised: £48.5M from Augmentum Fintech, Woodford Investment Management, Augmentum Capital, Seedrs, and more
Website, Crunchbase, Angellist

Sword Health (Digital Health Care, Medical Devices || Porto, New York, Salt Lake City)
Total Money Raised: $134.5M from General Catalyst, BOND, Highmark Ventures, BPEA, Khosla Ventures, Founders Fund, Transformation Capital, Green Innovations, Todd Cozzens, Vesalius Biocapital Partners, Faber Ventures, and more
Website, Crunchbase, Angellist

Unbabel (Translation Services || Lisbon)
Total money raised: $91.2M from Point72 Ventures, Greycroft, Scale Ventures Partners, Notion Capital, Salesforce Ventures, Indico Capital Partners, FundersClub, Samsung Next, Caixa Capital, and more
Website, Crunchbase, Angellist

Veniam (Internet of Moving Things || Porto, Aveiro, Mountain View)
Total money raised: $45M from True Ventures, Verizon Ventures, Union Square Ventures, Caixa Capital, and more
Website, Crunchbase, Angellist

Road to Series C

PlatformE (Fashion || Porto)
Total Money raised: $12M from Paula Amorim (Corticeira Amorim), José Neves (Farfetch), and PME Investimentos (200M Co-investment Fund)
Website, Crunchbase, Angellist

Rows (Web Development Tools, Productivity || Porto, Berlin)
Also known as: Dashdash
Total money raised: $25M from Lakestar, Accel, and Cherry Ventures
Website, Crunchbase

Uniplaces (PropTech, Marketplace || Lisbon, London)
Total money raised: $29M from Octopus Ventures, Atomico, Caixa Capital, and more
Website, Crunchbase, Angellist

Road to Series B

Adapttech (Medical Devices, Healthcare || Birmingham, Porto)
Total raised money: £3.3M from Mercia Technologies, Bionova Capital (formerly Hovione Capital), ACF Investors, Wealth Club, and Wren Capital.
Website, Crunchbase, Angellist

AddVolt (Automotive, Energy || Porto)
Total money raised: unknown from 2bpartners, Portugal Ventures, and more
Website, Crunchbase, Angellist

Aptoide (Android App Discovery || Lisbon)
Total money raised: $23.2M from Faurecia, ICO, e.Ventures, Portugal Ventures, PME Investimentos (200M Co-investment Fund), and more
Website, Crunchbase, Angellist

Barkyn (E-commerce, Product as a Service for Dogs || Porto, Aveiro)
Total money raised: $12.4M from Five Seasons Ventures, Indico Capital Partners, All Iron Ventures, 7 Graus, Shilling Capital Partners, and PME Investimentos (200M Co-investment Fund)
Website, Crunchbase, Angellist

BySide / ByTalk (Lead Activation, Digital Marketing || Porto, Madrid, London, São Paulo, Singapore)
Total money raised: Bootstrapped
Website, Crunchbase, Angellist

Casafari (FinTech, Real Estate || Lisbon)
Total money raised: €17.7M from Prudence Holdings, Lakestar, HJM Holdings, FJ Labs, Armilar Venture Partners, AMAVI Capital, 1Sharpe Capital, Round Hill Ventures, and YoungBrains
Website, Crunchbase

Codacy (Developer Tools, SaaS || Lisbon)
Total money raised: $14.4M from EQT Ventures, Join Capital, Caixa Capital, Faber Ventures, and Armilar Venture Partners
Website, Crunchbase, Angellist

Doist (the company behind Todoist + Twist) (Project Management Software || Porto, Barcelona, Remote)
Total money raised: Bootstrapped
Website

Jscrambler (Cyber Security || Porto)
Total money raised: $2.3M from Sonae IM and Portugal Ventures
Website, Crunchbase, Angellist

Landing.jobs (Jobs marketplace, Career Planning || Lisbon)
Total money raised: $2.8M from LC Ventures, Portugal Ventures, PME Investimentos (200M Co-investment Fund), and Jacobo UG
Website, Crunchbase, Angellist

Legalvision (Legal || Bordeaux, Lisbon)
Total money raised: €4.5M from Portugal Ventures, Bynd Ventures, Hemera Ventures, and more
Website, Crunchbase

LOQR (Security || Braga)
Total money raised: €9.3M from Iberis Capital, Semapa Next, big Start ventures, EDP Ventures, HCapital, REDangels, and Betwixt Ventures
Website, Crunchbase

Lovys (Insurance, Fintech || Paris, Leiria)
Total money raised: $24.5M from Heartcore Capital, Bpifrance, NewAlpha Asset Management, Portugal Ventures, MAIF Avenir, Raise Ventures, Plug and Play, Techstars and Partech
Website, Crunchbase, Angellist

Peekmed (Medical Device || Braga)
Total money raised: €3M from Grosvenor House of Investments and Portugal Ventures
Website, Crunchbase, Angellist

PICadvanced (Hardware, Internet of Things, Telecommunications || Aveiro)
Total money raised: $4.0M from Verizon Ventures and PME Investimentos (200M Co-investment Fund)
Website, Crunchbase

Science4you (EdTech || Lisbon)
Total money raised: unknown from Portugal Ventures
Website, Crunchbase

Studentfinance (Fintech, Education, ISA || Madrid, Lisbon)
Total money raised: €5.7M from Giant Ventures, Armilar VP, Sabadell Venture Capital, Shilling Capital Partners, MSM, MustardSeed MAZE and Seedcamp
Website, Crunchbase

Switch Payments (Payments, Fintech || Porto)
Total money raised: unknown from Shilling Capital Partners, big Start ventures, and Píer Partners
Website

TonicApp (Healthcare || Porto)
Total money raised: €3.5M from Armilar Venture Partners, Vesalius Biocapital Partners, Portugal Ventures, and PME Investimentos (200M Co-investment Fund)
Website, Crunchbase

Utrust (Payments, Fintech, Cryptocurrency, Blockchain || Zug, Braga, Lisbon, London)
Total money raised: $21M from ICO and 500 Startups
Website, Crunchbase, Angellist

Zenklub (Health Care, Psychology || São Paulo, Lisbon)
Total money raised: $11.9M from GK Ventures, SK Tarpon, Indico Capital Partners, All Iron Ventures, Valutia Capital, and PME Investimentos (200M Co-investment Fund)
Website, CrunchBase, Angellist

Road to Series A

Infraspeak (Facility Management, PropTech || Porto, London, Barcelona Florianópolis) ;)
Total money raised: $5.4M from Indico Capital Partners, firstminute Capital, Innovation Nest, Caixa Capital, Construtech Ventures, and 500 Startups
Website, Crunchbase, Angellist

Advertio (Advertising, MarTech|| Lisbon)
Total money raised: $1.4M from Portugal Ventures, Bright Pixel, and more
Website, Crunchbase

Apres (Analytics, AI, Developer APIs || San Francisco, Lisbon)
Total money raised: $1.7M from Adara Ventures, Faber Ventures, Techstars Lisbon, and more
Website, Crunchbase

Automaise (AI || Braga)
Total money raised: €1.5M from HCapital Partners, Bright Pixel, and Armilar Venture Partners
Website, Crunchbase

BitCliq (Fishing, Marketplace, Internet of Things, Blockchain || Leiria)
Total money raised: $1.0M from Indico Capital Partners, Social Innovation Fund (FIS Capital), and LC Ventures
Website, Crunchbase

Climber RMS (Hospitality Revenue Management Software, SaaS || Lisbon)
Total money raised: $541K from Seedrs, Innovation Nest, and more
Website, Crunchbase, Angellist

Codavel (Software Tools || Porto)
Total money raised: €1.3M from Armilar Venture Partners, Portugal Ventures, Ideias Glaciares, and PME Investimentos (200M Co-investment Fund)
Website, Crunchbase

Coverflex (Insurance, Fintech || Lisbon, Braga)
Total money raised: €5M from Breega, big Start ventures, LC Ventures, PME Investimentos (200M Co-investment Fund), and more
Website, Crunchbase

DreamShaper (Education || Porto, Lisbon, São Paulo, Budapeste)
Total money raised: €2M from Alpac Ventures
Website, Crunchbase

Doppio (Gaming, Voice || Lisbon)
Total money raised: €1M from Amazon Alexa Fund, Google Assistant investment program, Portugal Ventures, Bynd Ventures, BreakawayGrowth, Andy Chung, Phillipp Moehirng (AngelList), Lasse Seppänen (Supercell), Alexis Bonte (Stillfront & Atomico), and David Helgason (Unity)
Website, Crunchbase

EatTasty (Food Delivery || Lisbon)
Total money raised: $2.4M from Indico Capital Partners, Shilling Capital Partners, Ibersol, Caixa Capital, Bright Pixel, Olisipo Way, PME Investimentos (200M Co-investment Fund), Miguel Santos Amaro (BA), Diogo Teles (BA), and Nuno Lopes (BA)
Website, Crunchbase, Angellist

Emailbidding (E-mail Marketing Tools || Porto)
Total money raised: unknown
Website, Angellist

Enging (IoT || Coimbra)
Total money raised: $1.1M from EDP Ventures
Website, Crunchbase

Enline (Energy || Bragança)
Total money raised: $1.1M from HCapital Partners and InnoEnergy
Website, Crunchbase

euPago (Payments, Fintech || Porto)
Total money raised: Bootstrapped
Website, Crunchbase

Findster (Consumer Electronics, Internet of Things, Pet || New York, Porto)
Total money raised: $1.8M from Green Innovations, iSmart Ventures, and BrainTrust
Website, Crunchbase

Glartek (IoT, Industrial Maintenance || Lisbon)
Total money raised: $1.7M from EDP Ventures, HCapital, and Novabase Capital
Website, Crunchbase

GoParity (Fintech, Crowdfinancing || Lisbon)
Total money raised: €900k from Critical Software, Mustard Seed Maze, grants
Website, Crunchbase

Habit Analytics (Analytics, Insurance || New York, Lisbon)
Total money raised: $2.0M from FundersClub, Bright Pixel, big Start ventures, Ideias Glaciares, TechStars IoT, Plug and Play, and more
Website, Crunchbase

HiJiffy (Hospitality, Chatbot || Lisbon)
Total money raised: $1.6M from Portugal Ventures and more
Website, Crunchbase, Angellist

Hole19 (Golf Marketplace || Lisbon)
Total money raised: $3.6M from White Star Capital, Kibo Ventures, Caixa Capital, Seedcamp, Faber Ventures, Freigeist Capital, and more
Website, Crunchbase, Angellist

Hunter (Consumer Electronics, Hardware, Transportation || Lisbon)
Total money raised: €720k from Shilling Founders Fund, Olisipo Way, and Ideias Glaciares
Website, Crunchbase

HUUB (Supply Chain Logistics || Porto)
Total money raised: €4.4M from Maersk Growth and Pathena
Website, Crunchbase

HypeLabs (Software, Developer Tools || Porto, San Francisco)
Total money raised: $3M from innogy Innovation Hub, EDP Ventures, Caixa Capital, Deutsche Telekom, Mustard Seed, Novabase Capital, Angel Pad, REDangels, hub:raum and more
Website, Crunchbase, Angellist

iLof (AI, Biotechnology, Health Care, Medical Device || Oxford, Porto)
Total money raised: $3.2M from M12, Mayfield Fund, and EIT Health
Website, Crunchbase

InvoiceXpress (Finance, Fintech || Lisbon)
Total money raised: Bootstrapped
Website, Crunchbase, Angellist

Jumpseller (E-commerce || Porto, Santiago)
Total money raised: Bootstrapped ($350k in grants from Startup Chile and Portuguese Government)
Website, Crunchbase

Kencko (E-commerce, Consumer Goods || New York, Lisbon)
Total money raised: $3.4M from NextView Ventures, LocalGlobe, Kairos Ventures, Techstars, Max Ventures, and more
Website, Crunchbase

Kitch (Food Delivery || Lisbon)
Total money raised: $3.3M from Atlantic Food Labs, Market One Capital, Seedcamp, and Mustard Seed MAZE
Website, Crunchbase

Laborders (Software, Smart Laboratory || Porto)
Total money raised: Bootstrapped
Website

Knok Healthcare (Healthcare, Marketplace || Porto, London)
Total money raised: €2M from Mustard Seed MAZE, Social Innovation Fund (FIS Capital), FascinanteFólio, and Ryse Asset Management
Website, Crunchbase, Angellist

MindProber (Analytics, Consumer, Neuroscience, Media || Porto)
Total money raised: 500k from Ganexa Capital, Wisenext, and Pedro Lourenço
Website, Crunchbase

MOV.AI (AI, Robotics || Lisbon, London)
Total money raised: $3.6M from Viola Ventures and NFX
Website, Crunchbase

MyDidimo (3D, Gaming, Fashion || Porto)
Also known as: Didimo
Total Money Raised: $7.6M from Portugal Ventures, Bynd Ventures, LC Ventures, Techstars London, Ideias Glaciares, Farfetch, PME Investimentos (200M Co-investment Fund), and more
Website, Crunchbase

MyLADS (Augmented Reality, Sports || Lisbon)
Total money raised: $7.6M from Riva Group
Website, Crunchbase

Nuada (HealthCare, Hardware|| Porto)
Total money raised: unknown from HAX and SOSV
Website, Crunchbase, Angellist

Nutrium (Healthtech, Nutrition || Braga)
Total money raised: €4.9M from Indico Capital Partners, Portugal Ventures,
Primavera Software, Social Innovation Fund (FIS Capital), and more
Website, Crunchbase

Omniflow (Energy, Internet of Things, Telecommunications || Porto)
Total money raised: $3.9M from HCapital and Portugal Ventures
Website, Crunchbase

Probe.ly (Cyber Security || Lisbon)
Total money raised: $1.4M from Caixa Capital, Bright Pixel, Bynd Ventures, Novabase Capital, and Shilling Capital Partners
Website, CrunchBase, Angellist

Prodsmart (Industrial Management Software|| Lisbon)
Total money raised: $1.5M from Caixa Capital, Join Capital, Innovation Nest, 500 Startups, TechFounders, and more
Website, Crunchbase, Angellist

Magnifinance (Fintech || Lisbon)
Total money raised: €200K by Caixa Capital
Website, Crunchbase

Replai (AI, eSports, Video || Porto)
Total money raised: $1.3M from Bright Pixel, Ideias Glaciares, Clever Advertising, and more
Website, Crunchbase

Sensefinity (Internet of Things, Logistics || Berlin, Sintra)
Total money raised: $2.1M from LC Ventures, H-Farm, Techstars, REDangels, and more
Website, Crunchbase

Sensei (Computer Vision, Retail || Lisbon)
Total money raised: €6.1M from Iberis Capital, Seaya Ventures, LeadX Capital Partners, PME Investimentos (200M Co-investment Fund), and Sonae IM
Website, Crunchbase

Smarkio (Marketing Tools || Porto)
Total money raised: $1.5M from Explorer Investments
Website, Crunchbase, Angellist

Sphere Ultrafast Photonics (Laser Technology || Porto)
Total money raised: unknown from 2bpartner
Website, Angellist

Stratio Automotive (Predictive Maintenance Analytics, Transports || Coimbra)
Total money raised: 3M€ from Crane Ventures Partners, LocalGlobe, and Acequia Capital
Website, Crunchbase

Ubirider (Transportation || Porto)
Total money raised: unknown from Grupo Barraqueiro and Beatriz Barata (BA)
Website, Crunchbase

Valispace (Automotive, Enterprise Software, Industrial Engineering || Bremen, Lisbon)
Total money raised: $3.7M from HCVC, JOIN Capital, and High-Tech Grunderfonds
Website, Crunchbase

WeChangers (Social Network, Impact || Porto)
Total money raised: $1M from Regenerative Investment, BOMA Investments, Fundo Bem Comum FCR, Social Innovation Fund (FIS Capital)
Website

Xhockware (Retail, Shopping || Porto)
Total money raised: $4M from SME Instrument (EU Fund), Portugal Ventures, and Bynd Ventures
Website, Crunchbase, Angellist

Zaask (Professional Services Marketplace || Lisbon)
Total money raised: $2.1M from Portugal Ventures, Faber Ventures, Bynd Ventures, and Shilling Capital Partners
Website, CrunchBase, Angellist

Road to Seed/Newcomers

Abtrace (AI, Health, Machine Learning, Medical Device || London, Coimbra)
Total money raised: €2M from EIT Health
Website, Crunchbase

Agri Marketplace (Agriculture, E-Commerce, B2B Marketplace || Setúbal)
Total money raised: $650k from Portugal Ventures
Website, Crunchbase

Agroop (Agriculture, AgTech, Big Data, Internet of Things|| Lisbon)
Total money raised: $682k from Social Innovation Fund (FIS Capital)
Website, Crunchbase

AirCourts (Sports, Marketplace || Porto, Lisbon)
Total money raised: €100k from unknown angels
Website, Crunchbase

Anybrain (AI, Gaming, Software Tools || Braga)
Total money raised: €1M from TRUST ESPORT, Hovione Capital, and Eggnest
Website, Crunchbase

Azitek (Asset Management, Indoor Location || Porto)
Total money raised: Bootstrapped
Website, Crunchbase

Beamian (Events || Porto)
Total money raised: €800k from Portugal Ventures
Website, Crunchbase

Betmarkets (FinTech, Sports || Porto)
Total money raised: €340k from Shilling Capital Partners, Zero Gravity, Roca X, and Tue Lumbye
Website, Crunchbase

Betprotocol (Blockchain, Sports|| Lisbon)
Total money raised: unknown
Website

Bios (Cleantech, Energy, Food || Lisbon)
Total money raised: unknown by Maze X
Website

Bloq.it (Travel|| Aveiro)
Total money raised: unknown from BrightPixel
Website

CardioID (Automotive Industry || Lisbon)
Total money raised: unknown
Website

Detech.ai (AI, Cloud Performance Management, Devtools || Lisbon)
Total money raised: $120K from Techstars New York
Website, Crunchbase

Emotai (Consumer Electronics, Gaming, Education || Lisbon)
Total money raised: unknown from Faber Ventures and Techstars Lisbon
Website, Crunchbase

Forall Phones (Consumer Electronics, E-Commerce, Circular Economy || Lisbon)
Total money raised: €4.5M from unknown
Website, Crunchbase

Helppier (Customer Service, e-commerce || Porto)
Total money raised: unknown from Monmentum London
Website, Crunchbase, Angellist

Heptasense (AI, Retail || Lisbon)
Total money raised: unknown
Website, Crunchbase, Angellist

Hunchat (Messaging, Social Network || Lisbon)
Total money raised: €50k by Hook VC
Website

Invisible Collector (FinTech || Porto)
Total money raised: unknown
Website, Crunchbase

Jungle.ai (AI, Predictive Intelligence || Lisbon)
Total money raised: Bootstrapped
Website, Crunchbase

Logical Safety (SaaS, Safety || Porto)
Total money raised: $500K from Portugal Ventures
Website

LUGGit (Mobility || Ílhavo)
Total money raised: Bootstrapped
Website

KeepWarranty (Software, Consumer App || Lisbon)
Total money raised: Bootstrapped
Website, Crunchbase

Mater Dynamics (Materials || Porto)
Total money raised: $50K from EASME — EU Executive Agency for SMEs
Website, Crunchbase

Mapidea (Maps, Business Intelligence || Lisbon)
Total money raised: 500k from Portugal Ventures
Website, Crunchbase

Merytu (HR, Gig Economy || Lisbon)
Total money raised: 200k from Portugal Ventures
Website, Crunchbase

Nesto.io (Internet of Things || Lisbon)
Total money raised: unknown
Website, Crunchbase

Neuropsycad (Analytics, AI, Health, Neuroscience || Braga)
Total money raised: $50K from EASME — EU Executive Agency for SMEs
Website, Crunchbase

Pleez (Food, Restaurants || Lisbon)
Total money raised: unknown from Wisenext
Website, Crunchbase

Press Power (Media || Madeira)
Total money raised: Bootstrapped
Website

Reatia (Real Estate, AI || Leiria)
Total money raised: €1M from Olisipo Way, Portugal Ventures, and Wisenext
Website

Reckon.ai (Big Data, Image Recognition, AI || Lisbon)
Total money raised: Bootstrapped
Website, Crunchbase

Redcatpig (Gaming || Azores)
Total money raised: €350K from Portugal Ventures, Best Horizon, and Business Angels
Website, Angellist

Rnters (e-commerce, marketplace, rental || Lisbon)
Total money raised: €200k from Mustard Seed Maze and Techstars
Website, Crunchbase

Shiptimize (e-commerce, Logistics || Lisbon)
Total money raised: $500K from Portugal Ventures
Website, Crunchbase

Smartex (Computer Vision, Industry 4.0 || Porto)
Total money raised: unknown from HAX and SOSV
Website, Crunchbase

Sound Particles (CGI Software for Sound Design|| Leiria)
Total money raised: $450K from Indico Capital Partners and REDangels
Website, Crunchbase

Taikai (Blockchain, Innovation Management || Porto)
Total money raised: $458.2K from Bright Pixel
Website, Crunchbase

Trigger Systems (Agriculture || Fundão)
Total money raised: 130k from Portugal Ventures
Website, Crunchbase

Undandy (e-commerce, Fashion || Lisbon)
Total money raised: £1.1M from crowdfunding at Crowdcube
Website, Crunchbase

UpHill (Healthcare || Covilhã, Viseu, Lisbon)
Total money raised: $650k from Luz Saúde, Caixa Capital, and Bynd Ventures
Website

Vawlt Technologies (Cloud Services || Lisbon)
Total money raised: $1.05M from Armilar Venture Partners, Shilling Capital Partners, and Carlos Brazão (angel)
Website, Crunchbase

Virtusai (Software || Porto)
Total money raised: Bootstrapped
Website, Crunchbase

Weezie (Telecommunications, Machine Learning, SaaS || Porto)
Total money raised: $575K from Bynd Ventures and Novabase Capital
Website, Crunchbase

Wisecrop (Agriculture, Information Technology || Porto)
Total money raised: $465K from 2bpartner
Website, Crunchbase, Angellist

YData (AI, Big Data, Machine Learning, Privacy || Lisbon)
Total money raised: $572.5k by EDP Ventures, Techstars Montreal, and Faber
Website, Crunchbase

Yubuy (Interactive TV, Consumer App, Retail, E-Commerce || Lisbon)
Total money raised: Bootstrapped
Website, Crunchbase

Zappy (Management Software || Porto)
Total money raised: Bootstrapped
Website

Final comments:

1. This list has the unique goal of bringing visibility to the Portuguese startup ecosystem, helping both entrepreneurs and investors to get to know each other.
2. It’s not an exhaustive list. There are plenty of other startups growing all around the country. If you believe something is wrong or someone else should be added to this list, let me know.
3. For the sake of readability and focus this list excludes very early-stage startups. The criteria to make the list is not written in stone but can be summarized by: $250k+ in funding or revenue, 100%+ YoY growth rate in the most relevant metrics for the business, having a working product, and a great team.
4. The list is mostly focused on tech startups (SaaS, Marketplaces, PaaS, E-commerce, etc.), so it doesn’t include biotech, creative industries, and other booming sectors.

Interested in the Portuguese Startup Scene?

Check out my other articles about it:

• Startups Exits in Portugal
• VC Funds actively investing in Portuguese startups (Pre-seed stage)
• VC Funds actively investing in Portuguese startups (Seed stage)
• VC Funds actively investing in Portuguese startups (Series A stage)
• VC Funds actively investing in Portuguese startups (Series B stage)
• VC Funds actively investing in Portuguese startups (Late stage)

Update Log:

1. August 16th, 2021: Talkdest information was updated ($230M Series D); Remote was moved to “Road to IPO, Unicorns & Decacorns” ($150M Series B); Sword Health moved to “Road to Series D, E, F & Centaurs” ($85M Series C); Casafari moved to “Road to Series B” (€12.7M Series A); LOQR moved to “Road to Series B” (€8M Series A); Studentfinance moved to “Road to Series B” (€4.5M Series A); Barkyn information was updated (€3M Series A extension); Peekmed moved to “Road to Series B” (€3M Series A); Switch Payments moved to “Road to Series B” (Pegasus); MyLADS was added to “Road to Series A” (€7.6M Seed); Sensei moved to “Road to Series A” (€5.4M Seed); Kitch was added to “Road to Series A” (€3.3M Seed); Magnifinance moved to “Road to Series A” (Pegasus); Hunter information was updated (€570k Seed); GoParity information was updated (€200k Seed); Abtrace, Bios, Detech.ai, Emotai, Hunchat, Merytu, and Pleez were added to “Road to Seed/Newcomers”; Abyssal was removed from “Road to Series A” (acquired by Ocean Infinity); Comparamais was removed from “Road to Seed/Newcomers” (acquired by Lendo AB).
2. March 28th, 2021: Feedzai was moved to “Road to IPO, Unicorns & Decacorns” (€150M Series D); Adapttech information was updated (2M£ Venture round); DoDOC was removed from “Road to Series A” (acquired by Envision Pharma Group).
3. To see the full update log, go here.
4. June 10th, 2018: Published.