Portugal Startup Scene | October 2020 — Pedro Almeida

Originally published at https://www.pedroalmeidavc.com on October 31, 2020.

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Highlights

  • Last month, we published the 3Q 2020 report. Main topics covered:+21% rounds and +67% invested vs. Q2 2020; 50% reduction in rounds size and valuations; Increase in participation of Portugal Ventures and Business Angels Syndicate (1/4 and 1/2 of the rounds) and contraction of the most active YTD investor (LC Ventures)
  • 2020 Portugal Fintech report is out! 68 pages with the top Fintech players, trends, among other topics covered (check the 2020 fintech report here)
  • Semapa Next has been investing mostly through Techstars or indirectly, as an LP, through Armilar and Alter VP. But Semapa Next ambition was always to be a leading European Series A and beyond VC. This month, it gave a step forward by hiring Hugo (former Techstars MD)
  • On the other side of Iberia, 3 VCs announced new funds — Kibo Ventures (€100M), Samaipata (€100M), and Seaya (€125M). All these funds have been very active in Portugal. So it is good news for Portuguese pre-series A and Series A startups. For international Venture Capital funds interested in Portuguese startups, check here
  • Seedrs (founded by Carlos) and Crowdcube, the two leading European equity crowdfunding platforms in Europe are merging. Interesting to see the market consolidating. Hope it will further create opportunities for entrepreneurs
  • In last month’s newsletter, we mentioned that EIF and IFD launched a dedicated financial line with €50M for the blue economy. VCs can now express interest here. Only 2 funds will be awarded, with €25M each
  • Typically this time of the year — November during US elections– is the Web Summit time. Due to COVID19, this year Web Summit conference will be online. If you are a startup, you can still apply for Road 2 Web Summit until November 13
  • Finally, this month we came across an opinion article from David Malta. For the ones capable of reading Portuguese, is a time well spent. David proposes an alternative way to spend the European funds. We support his opinion that Portugal should use a considerable amount of funds in entrepreneurship and innovation. Once Portugal led “discovers”. Now, with resources and money available to do so, we have another opportunity to led “technology discoveries”. “This is the way!” (for the Mandalorian fans)

Funding round

Startup: Nutrium (https://mydidimo.com/)

Amount: €4.25M

TAGs: B2B, Health Care, Marketplace, Nutrition, SaaS

Investors: Indico Capital Partners, Fundo para a Inovação Social, Portugal Ventures, Startup Braga, Primavera

Startup: MOV.AI (https://mov.ai/)

Amount: $4M

TAGs: B2B, Robotics, transportation, Artificial intelligence, Saas, Industrial technology

Investors: Viola Ventures, State of Mind Ventures, NFX

Startup: Nuada (https://nuada.pt/)

Amount: €2.5M

TAGs: B2B, werables, health care, Internet of Things

Investors: Ideias Glaciares

Startup: Aptoide (https://www.aptoide.com)

Amount: €1.3M

TAGs: B2C, Apps, Mobile, Blockchain

Investors: 200M

Startup: Reatia (https://reatia.com/)

Amount: €1M

TAGs: B2B, Real Estate, Artificial Intelligence

Investors: Portugal Ventures, Olisipo Way, Wisenext

Startup: Integrated Storage Technologies (http://www.istnyc.com/)

Amount: €700K

TAGs: B2B, Energy

Investors: Vega Ventures

Startup: Revault (https://revault.dev/)

Amount: $500k

TAGs: B2B, Blockchain, Fintech

Investors: Boost VC

Startup: Undandy (https://www.undandy.com/eu/)

Amount: €438k

TAGs: B2B, e-commerce, marketplace, made to order, fashion

Investors: Semeia Ventures

Startup: MFJ Cosméticos, Lda.

Amount: €435k

Investors: Semeia Ventures

Startup: Mutable Galaxy, Unipessoal, Lda.

Amount: €315k

Investors: Semeia Ventures

Startup: Colmena (https://colmenahr.com/)

Amount: €150k

TAGs: B2B, HRTech, SaaS

Investors: Olisipo Way

Startup: Beamian (https://beamian.com/)

Amount: €150k

TAGs: B2B, Events, Internet of Things

Investors: Portugal Ventures

Startup: Redcatpig Studio (https://redcatpig.online/)

Amount: €95k

TAGs: B2C, Gaming

Investors: Best Horizon

Startup: Karkadan, Unipessoal, Lda.

Amount: €95k

TAGs: B2B, HRTech, SaaS

Investors: VSM Capital

Startup: Pleez (https://pleez.pt/)

Amount: €50k

TAGs: B2B, Food, SaaS

Investors: APX

Startup: Vantta (https://vantta.com/)

Amount: €42K

TAGs: B2B, SaaS

Investors: Invicta Angels

Startup: Sensei (https://www.sensei.tech/)

Amount: Unknown

TAGs: B2B, Artificial Intelligence, Computer Vision, Retail

Investors: Seaya Ventures

Startup: Ydata (https://ydata.ai)

Amount: Unknown

TAGs: B2B, Artificial Intelligence, Big Data, Cloud Data Services, Machine Learning, Privacy, SaaS

Investors: Techstars

Startup: Wide Ocean Retreat (http://www.wideoceanretreat.com/)

Amount: Unknown

TAGs: B2B, Travel

Investors: Portugal Ventures

Update to previously reported data

  • Mindprober | Initially reported: Unknown; Updated to: €600k
  • Legalvision | Initially reported: Unknown; Updated to: €3M
  • Advert.io | Initially reported: €365k; Updated to: €1M + Portugal Ventures participation
  • New Organic Planet | + Finy Ventures participation
  • Keme | + Finy Ventures participation

International funding rounds participated by Portuguese investors

  • Bright Pixel | Iriusrisk — Spain
  • Core Angels | Mimotoparking — Spain
  • Finy Ventures | Wunder Hexicon — Spain
  • Edp Ventures | Aperio — USA

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Pedro Almeida

Investor and advisor in early stage tech startups based Portugal and with Global ambition. Know more at www.pedroalmeidabusinessangel.com