Most Interesting Startups from Portugal to Watch

After exploring innovative solutions created in the UK, Germany, Sweden, France and Croatia, let's dive into the Portugal startup scene. Discover a selection of the 31 most interesting tech companies worth keeping an eye on.

Reviewpad

Reviewpad is addressing the complexities of modern code bases by enhancing productivity in code review processes. Integrating AI, including ChatGPT, their platform automates tasks such as labeling, commenting, and reviewer assignments. Reviewpad's technology has proven to reduce code merge times significantly, and it secured €1M in a Pre Seed Round led by Shilling.

Neuraspace

Neuraspace is tackling the critical issue of space debris with its AI-powered management platform. By offering accurate collision risk prediction and robust solutions for satellite operators, Neuraspace is not only preventing potential losses but also contributing to space sustainability. Their approach has attracted investment, including a €2.5M Seed Round led by Armilar Venture Partners.

Nortech AI

Nortech AI specializes in empowering businesses to fully control and utilize their data. Their solution encompasses everything from sensor data collection to deploying advanced models for anomaly detection and predictive maintenance. Nortech AI's approach is designed to be accessible and affordable, targeting line managers and engineers with easy-to-install hardware and a powerful software stack. This approach not only simplifies the digitization process but also makes it more cost-effective. Nortech AI recently raised €2.5M in a Seed Round led by Earlybird Venture Capital and Indico Capital Partners in October, 2023.

Codacy

Codacy, on the other hand, is revolutionizing the way developers handle code reviews and manage technical debt. As an automated code review tool, Codacy saves developers time by automating and standardizing code reviews. It tracks issues, customizes static analysis, and provides metrics on project health and team performance. Codacy supports over 40 coding languages and offers solutions for different needs, including open-source and enterprise versions. The company has raised funds through multiple rounds, including a Series B round of $15M led by Bright Pixel, and a Series A round of $7.7M led by Join Capital.

ScorePlay

ScorePlay is another innovative startup, focusing on AI-powered media asset management specifically tailored for sports workflows. Their platform offers features like FTP, calendar integration, and live broadcast ingestion, centralizing media assets for brands. These assets are classified using AI tagging and distributed to relevant stakeholders like athletes, artists, and sponsors. ScorePlay has raised €4.5M in a Seed Round led by Seven Seven Six on July 25, 2023, and had previously raised €1.5M in a Pre Seed Round. Their platform is designed to cater to the unique needs of sports organizations, connecting various stakeholders in the sports ecosystem and automating content management and delivery.

HiJiffy

HiJiffy is transforming hotel customer service with its advanced conversational AI. Their Guest Communications Hub, powered by proprietary AI Aplysia OS, covers the entire guest journey, enabling hoteliers to boost direct booking revenue and upsell opportunities. Additionally, it automates repetitive tasks, reducing operating costs and addressing staff shortages. As of 2023, HiJiffy's omnichannel solution is used in over 1,800 hotels across 50 countries. The company has raised funds through various rounds, including a €2.5M Venture Round from Caixa Capital and a €1.3M Grant from the European Commission.

Probely

Probely stands out in the field of web security. Their web vulnerability scanner is designed for agile teams, identifying security issues in web applications and APIs. It integrates seamlessly into development processes and CI/CD pipelines, promoting a DevSecOps approach that aligns development, security, and operations. Probely's solution detects over 30,000 vulnerabilities and provides false-positive-free reports with detailed remediation guidance. The company raised €7.7M in a Series A round led by Iberis Capital, Semapa Next, and TIIN Capital in 2022, following a €1.2M Seed Round and a €725K Pre Seed Round.

Sensei

Sensei is the future of retail with its autonomous store solution. Leveraging AI, computer vision, and machine learning, Sensei creates a seamless, checkout-free shopping experience. Their technology captures in-store product data and shopper activities, offering valuable analytics to retailers. Sensei's system is scalable and revolutionizes retail by eliminating traditional scanning and queuing processes. They have attracted investment, including a €5.4M Seed Round led by Iberis Capital and Seaya, along with grants from the European Data Incubator and the IMPACT Accelerator.

Smartex.ai

Smartex.ai is revolutionizing the textile industry with AI and computer vision technology, specializing in automated inspection to detect textile defects. Their solution significantly reduces defective production, with a goal of nearly 0%, by monitoring the knitting machines in real time. Smartex also provides a user interface for factories to track production statistics. They have raised funds, including a $24.7M Series A round led by Build Collective and Lightspeed Venture Partners. Smartex is committed to digitizing the textile industry, enhancing efficiency, productivity, and sustainability through its Smartex CORE and Smartex LOOP systems.

Connected

Connected is an innovative startup aiming to address the global challenge of providing cellular coverage to the 6% of the world's population that currently lacks it. Their approach integrates both space and ground-based nodes to establish an affordable and standardized connectivity network. This initiative not only promises to enhance the quality of life for unconnected communities but also paves the way for new IoT-based business models.

Zharta

Zharta is developing a lending protocol for instant non-fungible token (NFT) collateralized loans. By leveraging AI appraisals and decentralized finance (DeFi) pools, Zharta provides a real-time lending model for NFTs. In their Seed Round, they raised $4.3M, indicating strong interest in their innovative approach to NFT-based financing.

TEKEVER

TEKEVER, operating in the software, aerospace, defense, and security markets, offers surveillance-as-a-service solutions. Their product lines include the AR3, AR4, and AR5, each designed for specific surveillance and reconnaissance tasks, particularly in maritime environments. TEKEVER's solutions deliver actionable, real-time intelligence, making them a leader in maritime perception. They raised €20M in a Venture Round from Ventura Capital, emphasizing their impact in the field.

Bairro Direct

Bairro Direct is transforming e-commerce with its microfulfillment solutions, offering various delivery options, including next-day, same-day, and instant delivery. Their platform integrates seamlessly with e-commerce platforms and marketplaces, helping businesses expand their sales channels and grow. Bairro Direct has raised funds through several rounds, including a $800K Seed Round from Pacific Capital Partners.

Jungle AI

Jungle AI focuses on enhancing the performance and uptime of renewable energy sources, particularly in the solar and wind energy sectors. Utilizing AI and machine learning, Jungle AI's technology, built on existing sensors and data streams, optimizes energy output, contributing to the global transition to renewable energy. The company's web application, Canopy, handles millions of data points daily, offering predictive models and advanced investigative tools to its clients. Jungle AI raised €5M in a Series A round led by SHIFT Invest on September 5, 2022, underlining their role in renewable energy optimization.

Virtuleap

Virtuleap combines neuroscience and virtual reality to address cognitive illnesses, disorders, and learning challenges. Their suite of VR games, designed by neuroscientists, helps test and train various cognitive abilities. Virtuleap is collaborating with notable institutions, including the VA Health Care System and the Pacific Brain Health Center, to validate their solution as an effective diagnostic and treatment tool. They have raised several rounds of funding, including a Seed Round of $480K, demonstrating the potential of their innovative approach in cognitive health.

Fibersail

Fibersail, a Portuguese/Dutch startup, is revolutionizing the wind energy sector with its shape-sensing system based on FBG fiber optic technology. This system monitors and analyzes wind turbine blades in real-time, enhancing performance and reducing maintenance costs. Fibersail's solution ensures easy integration along the entire length of critical structures, enabling precise monitoring. The company secured €5M in a Seed Round led by FORWARD.one and received additional support through grants, reflecting its impact on making wind turbines smarter and safer.

Talka.ai

Talka.ai is a cutting-edge startup leveraging AI to analyze the full spectrum of communication in virtual calls, including visual, audio, and text analysis. Formed by a team of experts from renowned AI research institutions, Talka.ai focuses on extracting critical business insights from conversations to improve online interactions and customer engagement.

Orgavalue

Orgavalue is operating in the field of organ transplantation through advanced bioengineering technology. They aim to eliminate the organ transplant waiting list by producing highly compatible human organs using tissue engineering and stem cell techniques. Their innovative approach involves creating organ scaffolds from cadaveric organs, followed by recellularization with patient-specific cells. This method significantly reduces the risk of immune reactions and organ rejection, making transplants safer and more accessible. Orgavalue's technology, recognized by the EIT InnoStars Awards 2023, is a major step forward in addressing the global shortage of organ transplants.

LUGGit

LUGGit offers a real-time luggage transportation solution, connecting travelers and businesses with Keepers (drivers) for efficient luggage collection and delivery. Founded in 2019 and rapidly expanding across Europe, LUGGit has transformed luggage management, particularly for tourist accommodations without warehousing facilities. The company allows guests to explore cities freely without the inconvenience of carrying luggage. Having managed over 50k pieces of luggage and serving over 10k users, LUGGit's growth is underscored by its recent €1.8M funding round, showcasing its success in redefining luggage handling in the travel industry.

Sensaway

Sensaway is revolutionizing the aquaculture industry by offering digital twin technology for fish farm management. Their solution helps in detecting anomalies and sending hazard warnings, thereby improving fish health and farm productivity. Recently awarded EEA funding, Sensaway is making strides in enhancing the European aquaculture sector, particularly in Portugal.

Membrion

Membrion specializes in producing ceramic desalination membranes capable of recovering up to 98% of water in harsh conditions. Their membranes are designed to be low fouling, oxidizer resistant, and economical, suitable for treating difficult water effluents from industries like battery production. The company has raised funds through various rounds, including a $5.5M Series B round led by Lam Capital and Samsung Venture Investment. Membrion’s technology stands out for its ability to recycle water in challenging environments, making it a key player in sustainable water management.

Binedge.ai

Binedge.ai, emerging from Técnico Lisboa, is a pioneer in machine learning optimization for edge devices. Their technology allows large models to run efficiently on small devices, enhancing data security and reducing operational costs. The startup recently received Non Equity Assistance from Startup Lisboa through their Rocket Program.

Infraspeak

Infraspeak offers an Intelligent Maintenance Management Platform, transforming facilities management with technology that brings intelligence, flexibility, and connectivity to the field. Serving a global community, their platform is used by business owners, maintenance and facility managers, and technicians to optimize maintenance operations. Infraspeak has secured funding, including a €7.5M Series A round led by Bright Pixel, demonstrating its effectiveness in turning maintenance operations into high-performance systems with data and automation.

Cargofive

Cargofive is a logistics solution provider that digitizes and optimizes the rate procurement, management, and quotation processes for freight forwarders. Their system automates and consolidates rate sheets from carriers, simplifying the quotation process. Additionally, Cargofive integrates with various systems like ERP and CRM through APIs, facilitating seamless data exchange. The company has raised funds in multiple rounds, including a €1.8M Seed Round from Lince Capital and Shilling, indicating strong support for their role in the digital evolution of the logistics industry.

Coverflex

Coverflex is redefining compensation management with a digital platform that streamlines the management of employee benefits, insurance, meal allowances, and discounts. Their mission is to make compensation more transparent, flexible, and beneficial for all parties involved. Coverflex has successfully raised significant funding, including a €15M Series A round led by SCOR Ventures, showcasing their impact on improving the way companies compensate their employees.

C-mo Medical Solutions

C-mo Medical Solutions focuses on healthcare innovation with a wearable cough-monitoring device that provides comprehensive cough assessments. This technology addresses key aspects of patient management, offering doctors more accurate data for diagnosis and treatment. C-mo has raised substantial funding, including a €4.1M Seed Round from Boehringer Ingelheim Venture Fund, highlighting the potential of their technology in advancing medical diagnostics.

RealFevr

RealFevr, a Portuguese startup, has made significant strides in the digital entertainment and sports sector. Starting as a fantasy football mobile app, they have expanded into a pioneering role in the sports NFT market. With over 1.2M registered users, RealFevr is a market leader in Portugal and is rapidly expanding globally. Their recent €10M Series A funding from ADvantage and the success of their NFT collections featuring iconic football moments demonstrate their innovative approach in combining sports, gaming, and blockchain technology.

Talent Protocol

Talent Protocol is a web3 professional network that enables high-potential individuals to build an on-chain resume and launch a talent token. This platform allows anyone to invest in the careers of these individuals, fostering a community-supported approach to career development. Talent Protocol uses blockchain technology to create what they call 'Belief Capital,' emphasizing the value of early support in a professional's journey. They have raised $1.3M in a Seed Round and $350K in a Pre Seed Round.

Flecto

Flecto is a rental platform operating within the circular economy. It aims to reimagine ownership by making accessing products as convenient as buying. Flecto helps businesses engage in sustainable practices by offering a platform that unlocks rental operations and optimizes the experience for both consumers and businesses. They emphasize the importance of sustainability in the current business landscape, where managing environmental and social responsibility is key to success. Flecto has raised funds through various rounds, including a €1.2M Venture Round and a $150.8K Pre Seed Round.

Paynest

Paynest stands out as an HR platform dedicated to the financial well-being of employees. It offers unique features like on-demand salary access, financial coaching, and emergency pay. By focusing on financial resilience and education, Paynest not only benefits employees but also enables employers to differentiate themselves by providing meaningful benefits.

GoParity

GoParity is an impact finance and investment app connecting people and companies with organizations that need funding for sustainability projects. This platform democratizes access to sustainable finance, allowing individuals and companies to invest in projects aligned with their values and the United Nations' Sustainable Development Goals. GoParity's approach facilitates the transition to a more sustainable and inclusive economic system. They have successfully raised funds, including a €2M Seed Round and £2.6M through Equity Crowdfunding, highlighting their commitment to sustainable finance and investment.

Want to discover more interesting startups from other countries? Check out the list below. Top Startups from:

Most Interesting Startups from the United Kingdom to Watch (by Sofia Drobychevskaya, Editor, Vestbee)

Most Interesting Startups from Germany to Watch (by Sofia Drobychevskaya, Editor, Vestbee)

Most Interesting Startups From Sweden To Watch (by Sofia Drobychevskaya, Editor, Vestbee)

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