Top Startups / June 17, 2021
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Portuguese Startups To Watch in 2021

Portugal is known for many things, Christiano Ronaldo, sandy beaches and great scenery, but the country is currently undergoing a shift in its startup market. The country's government reported that during 2019, 285 Million Euros of investment went up for grabs, with the top-25 startups raising 117.8 Million during that same year. These figures show the potential of the market, but Portugal still has some catching up to if it is going to compete with the biggest startup ecosystems. There are some top Portugese startups to watch in 2021. If you're looking for startups in other countries, we also have other top startup lists to browse.

The continued development of the ecosystem in the country has led to Portugal being listed as one of the 40-best countries for startup development. So, now to dive right into the list of some of the best startups that Portugal has to offer.

1. Unbabel

Year Founded: 2013

HQ: Lisbon, Portugal

Size: 101-250

Founder(s): Bruno Prezado, Hugo Silva, João Graça, Sofia Pessanha, Vasco Pedro

Unbabel is a language technology startup that was founded in 2013 and is currently headquartered in Lisbon, Portugal. The company provides B2B solutions for enterprises that want to overcome language barriers between themselves and their customers. This is achieved through the use of advanced AI and machine learning technology. This increases the speed and accuracy of translations and communication.

So far, the company has managed to attract a massive amount of investment, with $91.2 Million being put into the business. This was achieved from a group of 37 investors. Interestingly, one of these investors is Samsung Next, a funding arm of the well-known tech and smart device company, Samsung.

2. ComparaJa

Year Founded: 2015

HQ: Lisbon, Portugal

Size: 51-100

Founder(s): Sergio Pereira

ComparaJa is a fintech company that was founded in 2015 and is currently based in Lisbon, Portugal. The company provides a free platform users online, that allows them to compare a range of different telecoms and credit products. This helps customers to find the options that are best suited to their needs and helps them to save money.

Despite the fact that the company has grown largely since being founded in 2015, they have not yet received outside investment to further the growth and development of the company. Despite this, they are one of the most exciting startups in Portugal at this time.

3. Casafari

Year Founded: 2017

HQ: Lisbon, Portugal

Size: 51-100

Founder(s): Dmitry Moskalchuk, Mila Suharev, Nils Henning

Casafari is a real estate tech startup that was founded in 2017 and is currently operating from Lisbon, Portugal. The company operates by providing and maintaining a vast property database to create a massive list of potential investment opportunities for those that want to get involved in real estate. This is achieved in real-time and creates great value for investors.

So far, Casafari has proven its worth to investors, which has culminated in the company receiving 5 Million Euros in funding since 2017. This funding was achieved from a group of 14 investors. These investors were a mix of angel investors and venture capital firms.

4. Stratio

Year Founded: 2017

HQ: Lisbon, Portugal

Size: 51-100

Founder(s): Ricardo Margalho, Rui Sales

Stratio is a fleet management and SaaS startup that was founded in 2017 and is currently operating from Lisbon, Portugal. The company utilizes advanced AI and machine learning functionality to provide predictive maintenance solutions. This means that logistics companies will be able to minimize the downtime impact of repairs and general maintenance.

Stratio has already received some notice from investors during the company's Seed Funding ventures. So far, the Portuguese startup has managed to raise a collective 3 Million Euros from a pair of investors.

5. GoParity

Year Founded: 2017

HQ: Lisbon, Portugal

Size: 1-10

Founder(s): Nuno Brito Jorge 

GoParity is a fintech startup that was founded in 2017 and is currently headquartered in Lisbon, Portugal. The company operates a P2P savings and investment platform that helps to simplify the investment process and help more people to make income and achieve true financial literacy.

The Portuguese startup has already undergone a Pre-Seed Funding Round, with the company having raised 900,000 Euros from a pair of investors. There were numerous of these rounds, with the most recent having taken place earlier this month. This shows the ambition and future growth goals of the company.

6. nBanks 

Year Founded: 2018

HQ: Porto, Portugal

Size: 1-10

Founder(s): Orlando Gomes Costa 

nBanks is an example of a Portugal startup in the fintech space, the company was set up in 2018 and is currently working from Porto, Portugal. The company seeks to improve relationships between banks and customers by allowing both to use their platform, which provides a transparent and effective marketplace for financial products.

nBanks has already managed to achieve some startup funding to further the growth and development of their platform. Since being founded in 2018, the company has gone on to raise a total of 205,000 Euros. This was across two rounds of Seed Funding, with the most recent coming in 2019.

7. Infraspeak

Year Founded: 2015

HQ: Porto, Portugal

Size: 51-100

Founder(s): Felipe Ávila da Costa, Luís Martins

Infraspeak is a communication technology startup that was founded in 2015 and has operated from Porto, Portugal since. The company has developed a platform to improve the efficiency and effectiveness of facilities management for businesses. This is achieved through the rapid sharing of information achieved by the platform, as well as making the process much simpler to carry out.

So far, Infraspeak has been a Portugal startup that has caught the eye of investors. This is evidenced by the fact that the company has managed to raise $5.4 Million in startup funding from investors, despite only having traded for six years so far. One of these investors includes 500 Startups, despite the fact that they were not a lead investor.

8. PlatformE

Year Founded: 2015

HQ: Oporto, Porto, Portugal

Size: 11-50

Founder(s): Ben Demiri, Gonçalo Cruz, José Neves, João Magalhães 

PlatformE is a 3D technology and fashion startup that was founded in Oporto, Porto and has been operating since 2015. The company provides a simple, yet powerful Made To Order (MTO) solution that allows customers to create any design of clothing that they want, which can then be delivered to them. This is a massive step forward as people and businesses will be able to get items, ordered specifically to their needs.

So far, the advanced and interesting offer of PlatformE has caused investors to part with a large amount of money. So far, the company has managed to gain a massive $16.6 Million from investors, with the Portuguese startup easily being one of the most innovative and exciting in the Portuguese startup ecosystem.

9. Tonic App

Year Founded: 2016

HQ: Porto, Portugal

Size: 11-50

Founder(s): Andrew Barnes, Christophe de Kalbermatten, Daniela Seixas, Dávid Borsós

Tonic is a healthcare startup based in Porto, Portugal that has been operating since being founded in 2016. The company provides an app that is like a compendium for doctors, allowing for improved diagnosis and treatment due to the fact that doctors are given access to academic research, book materials, healthcare providers and much more. Having all of this under one roof increases the viability of the system and makes it easier for doctors.

So far, Tonic and its app have managed to convince a total of four investors to further fund their idea and business model. From these four investors, the company has managed to raise 3.5 Million Euros. One of the lead investors for this company is the venture capital firm, Portugal Ventures.

10. EatTasty

Year Founded: 2015

HQ: Lisbon, Portugal

Size: 11-50

Founder(s): Orlando Lopes, Rui Rocha Costa 

EatTasty is a food technology startup that is currently based in Lisbon, Portugal and has been operating since 2015. The company operates a model whereby unused kitchen space can be made useful. This is achieved through their platform, where the production of their daily lunch menus are outsourced to ensure that delivery can easily be achieved on a local level.

So far, the Portuguese startup has managed to catch the attention of 14 investors that have collectively pledged 2.1 Million Euros into the the company. EatTasty has also been active in the acquisitions market, taking over the fellow food technology startup, Breakfast Group in 2019.

11. Xhockware

Year Founded: 2014

HQ: Porto, Portugal

Size: 11-50

Founder(s): Joao Neiva, Joao Rodrigues

Xhockware is a retail technology startup that is currently based in Porto, Portugal and has been operating for seven years. The company provides a large array of digital solutions tailored to retailers, which can increase customer footfall and purchases by making use of a variety of different tools contained within their platforms.

Xhockware has had some good fortune with investment since being founded in 2014. In total, the company had managed to raise 4 Million Euros. This was achieved through a quartet of investors that were interested in the company. 

12. WiseCrop

Year Founded: 2012

HQ: Porto, Portugal

Size: 1-10

Founder(s): Flávio Ferreira, Miguel Rodas, Ricardo Neves, Sandro Vale, Tiago Sá

WiseCrop is an agricultural technology startup that was founded in 2012 and currently operates from Porto, Portugal. The company provides a solution for farmers that allows them to use predictive indicators to make farming decisions. Their package also includes business management tools that can be of great use to their customers.

WiseCrop has managed to receive a respectable amount of startup funding both through grants and the company's own funding rounds. So far, the company has managed to make $465,500 for further research and development and to continue growing the business in general.

13. MindProber

Year Founded: 2016

HQ: Matosinhos, Porto, Portugal

Size: 1-10

Founder(s): Nuno Dias, Pedro Chaves, Pedro R. Almeida

MindProber is a consumer neuroscience startup that was set up in 2016 and has been operating from Matosinhos, Porto, Portugal. Led by its founding trio, the company provides high-speed and easily scalable media testing solutions. These solutions can help companies to identify trends and sentiments surrounding various media activities.

MindProber has managed to attract a healthy level of investment to continue the growth of the Portugal startup. So far, the company has received funding from a total of five investors, totalling up to 500,000 Euros.

14. SMARKIO

Year Founded: 2015

HQ: Porto, Portugal

Size: 11-50

Founder(s): Rui Campos 

SMARKIO is a Portugese marketing startup that was founded six years ago and is currently based in Porto, Portugal. The company's digital marketing platform gives users access to copywriting, marketing, analytics and quality solutions. This helps businesses to make better strides in their campaigns and improve the quality of their lead generation.

SMARKIO has only received outside investment from one company, although this number of 1.5 Million Euros is a very impressive first investment. Especially for a company in the dominated marketing sector. This investment was provided by Explorer Investments during SMARKIO's seed funding round.

15. Fibersail

Year Founded: 2015

HQ: Oporto, Porto, Portugal

Size: 1-10

Founder(s): Carlos Oliveira, Hugo Rocha, Pedro Pinto 

Fibersail is an energy technology startup that was founded in 2015 and is currently based in Oporto, Porto, Portugal. The company provides analytics and oversight solutions for companies operating wind turbines. This real-time data helps to organize maintenance and ensure the continued safety and unimpeded operations of wind turbines, making renewable energy more realistic.

Fibersail has already managed to attract outside investment to improve its operations. So far, the company has received backing from six investors, to the tune of 815,500 Euros. This investment came from a mixture of grants and venture capital funding.

16. GOVWISE

Year Founded: 2017

HQ: Lisbon, Portugal

Size: 1-10

Founder(s): Francisco Vaz Figueiredo, Pedro Marques 

GOVWISE is a data and predictive analysis startup that was founded four years ago and is currently operating from Lisbon, Portugal. This allows companies that serve the public sector to predict upcoming government contracts and makes it more likely for these companies to actually win those government contracts. The dual founders of the company have created a robust technological solution.

So far, the company hasn't received much in the way of startup funding, with 60,000 Euros being raised during the company's Pre-Seed Round. Despite this, when the company begins to seek more investment, it won't be a surprise if the Portuguese startup gains a lot more funding the next time around.

17. ForAll Phones

Year Founded: 2016

HQ: Lisbon, Portugal

Size: 51-100

Founder(s): José Costa Rodrigues, José Costa Rodrigues

ForAll Phones is a consumer electronics startup that was founded in 2016 and currently has its head office in Lisbon, Portugal. The company seeks to tackle the problem of electronic waste by taking old mobile phones and reselling them. This means that old items will get a new lease of life, without being needlessly thrown away in a garbage dump somewhere.

So far, the company has managed to raise a significant amount of startup funding to help drive it forward. In total, since being founded five years ago, the company has managed to raise 4.5 Million Euros in startup funding.

18. Swogo

Year Founded: 2012 

HQ: Lisbon, Portugal

Size: 51-200

Founder(s): Andre Rego, Anthony Ng Monica, Dimitar Kazakov, Ivor Stankov, Lucy Foster 

Swogo is a retail technology startup that was founded nine years ago and currently has its head office in Lisbon, Portugal. The company itself allows retailers to create tailored bundle deals which can be shared with customers. These attractive deals will help the retailer to increase their sales, which will have a direct effect on their profit margins. This is the value of Swogo.

To fund the development and growth of the startup as a whole, the company has successfully sought out and received $1.8 Million in startup funding. This was achieved through a mix of angel investors, venture capital firms and equity crowdfunding.

19. Zaask

Year Founded: 2012

HQ: Lisbon, Portugal

Size: 11-50

Founder(s): Kiruba Shankar Eswaran, Luis Pedro Martins

Zaask is a search and professional services startup that was founded nine years ago and currently has its head office in Lisbon, Portugal. The startup provides a platform where customers can compare between and eventually hire local service providers for various tasks, whether they're business-related, or personal.

So far, Zaask has managed to convince a quartet of investors to part with their money to further the development of the company. In total, these investors have chosen to part with 2.1 Million Euros. One of these investors includes Portugal Ventures.

20. Didimo

Year Founded: 2016 

HQ: Leca Del Palmeira, Portugal

Size: 11-50

Founder(s): Veronica Costa Orvalho

Didimo is a 3D technology startup that was founded in 2016 and is currently based in Leca Del Palmeira, Portugal. The company provides solutions to automate and speed up the process of creating people digitally. The inputs to create these digital people do not need to be advanced, with a simple 2D photograph being enough to generate 3D character models.

So far, Didimo has managed to catch the eye of a number of investors, with twelve having funded the further growth and development of the Portuguese startup. To date, the investors have put a collective $8.8 Million into Didimo in its five years of operations.

21. Barkyn

Year Founded: 2017 

HQ: Matosinhos, Porto, Portugal

Size: 11-50

Founder(s): Andre Jordao 

Barkyn is an e-commerce startup for pets that was founded in 2017 and is currently based in Matosinhos, Porto, Portugal. The company provides an all-in-one subscription solution for pets. This includes a range of dietary, sanitary and other animal health products which a pet may need.

Barkyn has managed to receive a large amount of startup funding from investors, despite only being four years old. The company has managed to raise a total of $12.4 Million from a group of seven investors.

Top Portuguese Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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