Armilar Venture Partners

Armilar Venture Partners is a Lisbon-based venture capital firm founded in 2000. It specializes in investing in early-stage companies, focusing on sectors such as enterprise software, augmented and virtual reality, SaaS, the Internet of Things, artificial intelligence, machine learning, cybersecurity, blockchain, and various technology fields. With over 200 million euros in assets under management, the firm supports innovative companies in the United States and Europe that aim to enhance daily life and business practices. Armilar Venture Partners has evolved from its original identity as Espírito Santo Ventures and continues to seek opportunities in diverse sectors, including healthcare, energy, and consumer products.

Pedro Almeida

Senior Associate

João Alpendre

CFO and Managing Partner

Pedro Castel-Branco

Senior Associate

Rodolfo Condessa

Principal

Carmo Sousa Coutinho

Senior Associate

João Dias

Partner

Nuno Leite

CFO and Managing Partner

Vitor Martins

Senior Associate

Duarte Mineiro

Managing Partner

Joaquim Sérvulo Rodrigues

Founder and Managing Partner

Inês Macedo Santos

Senior Associate

Pedro Ribeiro Santos

Managing Partner

71 past transactions

Brighter AI

Series A in 2022
Brighter AI Technologies GmbH, founded in 2017 and based in Berlin, Germany, specializes in developing artificial intelligence-driven software solutions aimed at video anonymization and privacy protection. The company focuses on recreating daylight images from night vision footage captured by infrared cameras, which aids in improving vision clarity. Brighter AI's offerings include frontal face reconstruction technology that assists security professionals in identifying suspects while ensuring compliance with GDPR regulations by anonymizing sensitive visual data. Initially established within the automotive sector, the company has diversified its services to various industries, leveraging advanced AI to enable the use of publicly recorded camera data for analytics without compromising individual privacy. Recognized for its innovative approach, Brighter AI has received accolades such as "Europe’s Hottest AI Startup" by Nvidia and "The Spark - The German Digital Award" from Handelsblatt & McKinsey.

KIT-AR

Seed Round in 2022
KIT-AR Ltd designs and develops an integrated industrial augmented reality system for enhancing manufacturing productivity. The company provides all the information needed to assemble and engineer products to reduce unplanned downtime caused by human error. It offers KIT-ASSIST, that offers specialist knowledge and details directly to a heads up display; KIT-SMART, a set of intelligent modules that sense the working environment and monitor worker activity; KIT-BUILD, which allows users to manage work instructions according to the operations; and KIT-INSIGHT, which offers productivity and efficiency insights. KIT-AR Ltd was founded in 2018 and is based in London, United Kingdom.

Amplemarket

Series A in 2022
Developer of an AI-powered sales platform designed to facilitate lead generation and sales process. The company's platform leverages the most recent developments in machine learning to develop the next generation of sales tools, enabling businesses to find and get in touch with their prospective customers in a personalized and efficient manner.

Neuraspace

Seed Round in 2022
Neuraspace specializes in AI-based collision avoidance systems for satellites, aimed at enhancing the safety and efficiency of satellite operations. The company's proprietary technology utilizes advanced data fusion strategies to improve the accuracy of satellite collision risk predictions, automating many manual processes and communications currently in use. This end-to-end solution provides satellite operators with actionable recommendations for orbital maneuvers to prevent collisions, while also delivering valuable insights to insurers, regulators, and other stakeholders reliant on space assets. By tracking and monitoring satellites, Neuraspace helps mitigate potential losses from collisions and allows insurance companies to better assess the risks associated with satellite operations.

Cintoo

Series A in 2022
Cintoo SAS, founded in 2013 and based in Biot, France, specializes in managing and leveraging 3D data obtained from reality capture devices through cloud-based solutions. The company has developed an innovative point cloud-to-surface technology that converts data from terrestrial laser scanners into advanced reality data. This technology is integrated into Cintoo Cloud, a platform that is agnostic to laser scanning hardware and building information modeling (BIM) systems, allowing users to efficiently manage, store, and share laser scan projects. Cintoo primarily serves organizations in the architecture, engineering, and construction sectors, facilitating improved planning and management of buildings and infrastructure through enhanced data collaboration and distribution.

knok healthcare

Series A in 2021
Knok is an app-based healthcare platform offering patients a holistic solution for their health through a combination of AI chatbots, video calls, face to face appointments at home, and integration with hospitals in one single application. This solution is convenient for the patient and efficient for the health system: the AI chatbot helps patients self-assess their condition and directs the patient within the app to a video appointment or a face to face appointment. If the issue is serious enough, knock will direct the patient to the hospital.

Reckon.ai

Seed Round in 2021
Reckon.ai is a technology company based in Lisbon, Portugal, founded in 2017. It specializes in developing Reckon, a cloud platform designed for smart retail product analysis and price comparison. The platform leverages machine learning algorithms, data fusion, and computer vision to enhance how retailers gather competitive intelligence. By incorporating artificial intelligence and image recognition, Reckon enables retailers to effectively track and optimize their pricing strategies in relation to competitors. The company aims to address the inefficiencies and challenges faced by retailers in competitive analysis, recognizing that many opportunities for improvement remain unaddressed in the digital landscape.

Casafari

Series A in 2021
Casafari LLC is a real estate metasearch company based in Lisbon that offers property search solutions for real estate professionals and institutional investors in Germany, Spain, and Portugal. The company focuses on enhancing transparency in the real estate market by building a comprehensive database of properties. It collects and analyzes data on property prices, collaborates with various real estate agencies, and aggregates listings from multiple sources. Utilizing proprietary technology, Casafari cleans, deduplicates, and evaluates property information in real-time, enabling users to identify lucrative investment opportunities. Additionally, the platform provides predictive analytics, alerts for new listings and price changes, and status tracking to help users stay informed about market developments and optimize their property transactions.

StudentFinance

Seed Round in 2021
StudentFinance, S.L., established in 2019 and headquartered in Madrid, Spain, operates in the Fintech and Edtech sectors, focusing on addressing the skills gap in education. The company provides personal loans to students through Income Share Agreements (ISAs), allowing them to pay a fixed percentage of their income over a predetermined period instead of paying tuition upfront. This innovative approach aims to make education more affordable and accessible. By leveraging technology and predictive modeling, StudentFinance enhances the connection between talent, educational programs, and employers, fostering transparency and improving employment outcomes for graduates.

OutSystems

Series E in 2021
OutSystems, Inc. is a company that specializes in a low-code platform designed for the development of enterprise web and mobile applications. Founded in 2001 and based in Boston, Massachusetts, the platform allows organizations to build applications that can operate in cloud, on-premises, or hybrid environments. It combines low-code development with advanced capabilities, enabling users to visually develop entire applications that easily integrate with existing systems. OutSystems serves various industries, including insurance, banking, education, healthcare, and government, and targets IT leaders, enterprise architects, and professional developers. The platform is recognized for its ability to facilitate the rapid development and management of robust applications while avoiding vendor lock-in.

Automaise

Seed Round in 2021
Automaise specializes in developing cloud-based, low-code artificial intelligence solutions that provide virtual employees for customer service. The company offers a diverse portfolio of AI-driven virtual employees capable of autonomously executing a range of tasks across various business sectors. By streamlining and automating customer service processes, Automaise enables organizations to reduce costs, enhance staff productivity, and ultimately drive sales growth.

Didimo

Venture Round in 2020
Didimo focuses on humanizing technology and reducing digital isolation. They automate 3D character creation - a once expensive and time-consuming task - in 30 sec or less. Their product - a Didimo - a lifelike 3D characters that look, act and speak like a person will connect every one of us more closely to the digital world, driving a new paradigm for communication, through the image they know the most - their own face.

Appentra

Seed Round in 2020
Appentra Solutions, S.L. specializes in developing software tools that facilitate guided parallelization, targeting the democratization of high-performance computing across various fields, including engineering and science. Founded in 2012 and based in Corunna, Spain, the company offers several key products, including Parallware Trainer, a real-time interactive editor designed to enhance the teaching and application of parallel programming, and Parallelware Analyzer, a suite of command-line tools that assist developers in efficiently creating high-quality parallel software. As the demand for advanced computing capabilities grows, Appentra aims to simplify parallel programming, making it accessible to a broader range of organizations. Their innovative Parallelware technology, which focuses on static code analysis for concurrency and parallelism, positions the company as a leader in the shift towards mainstream adoption of parallel computing solutions.

Codavel

Seed Round in 2020
Codavel is a developer of an innovative content delivery platform designed to enhance mobile application performance by addressing the challenges of unstable wireless networks, including Wi-Fi and cellular connections. The company's technology provides end-to-end control over network conditions, enabling applications to remain fast and responsive regardless of the user's device or location. By significantly improving the end-user experience, Codavel allows clients to effectively manage content delivery, ensuring that it remains efficient and uninterrupted even in adverse network situations. This focus on optimizing the balance between quality of experience and content delivery network costs positions Codavel as a key player in the realm of digital connectivity.

WalliD

Seed Round in 2019
WalliD, based in Lisbon, Portugal, develops online identification and authentication solutions aimed at managing identities in a secure and verifiable manner. Founded in 2018, the company offers tools like ImportiD, a desktop application for extracting attributes from certified documents, and MyEtherID, a web application for encrypting and storing identities on a smart contract. WalliD serves as a global protocol for certified identity document transactions, allowing users to securely store their identity documents in Ethereum wallets. It facilitates safe and rapid validations for online services requiring Know Your Customer (KYC) compliance. The protocol supports Certification Authorities and employs digital certificates issued through public key infrastructure, ensuring that all stored ID documents are reliable and can be validated in a trustless environment. Additionally, WalliD provides data verification services that enable platforms to confirm user identities through various ID infrastructures, allowing crypto users to consolidate ownership of multiple social network identities within a single wallet.

Codacy

Venture Round in 2019
Codacy is an automated code review tool designed to assist developers in optimizing their code review processes and managing technical debt more effectively. By analyzing code and grading code patterns, Codacy enables developers to monitor project health and track new issues by severity level for each commit and pull request. This functionality allows for a more efficient code quality assessment, helping to identify problematic patterns and bugs while reducing the time spent on code style reviews. Ultimately, Codacy aims to streamline the development workflow, allowing teams to focus on delivering high-quality software more rapidly.

Tonic App

Venture Round in 2019
Tonic App S.A. is a digital health company that has developed a mobile application aimed at enhancing communication and collaboration among medical professionals. The application serves as a comprehensive platform for doctors to message, share, and archive patient cases, request expert advice, and network with peers. It also enables hospitals, pharmaceutical companies, and medical associations to connect with healthcare professionals and disseminate relevant medical content. Key features of the app include tools for coordinating urgent procedures, discussing clinical cases, sharing medical images, and accessing a range of healthcare resources, such as clinical calculators and drug conversion tables. Founded in 2016 and headquartered in Porto, Portugal, Tonic App strives to improve the efficiency of medical practice and patient outcomes through its integrated approach to health content aggregation and team collaboration. The application is available on Google Play.

Vawlt

Seed Round in 2019
Vawlt is a data storage platform based in Lisbon, Portugal, founded by researchers from the LASIGE research group at the University of Lisbon. The company focuses on simplifying the management of multiple cloud storage solutions while enhancing data security and privacy. Vawlt's platform enables organizations to store and share files effectively, optimizing storage resources and allowing customization of data storage volumes based on specific needs such as cost, performance, location, and compliance. This approach empowers companies to manage their data more responsibly and reduces maintenance and operational costs. Vawlt is dedicated to ensuring individuals and organizations have control over their data while adhering to higher security standards.

Automaise

Seed Round in 2018
Automaise specializes in developing cloud-based, low-code artificial intelligence solutions that provide virtual employees for customer service. The company offers a diverse portfolio of AI-driven virtual employees capable of autonomously executing a range of tasks across various business sectors. By streamlining and automating customer service processes, Automaise enables organizations to reduce costs, enhance staff productivity, and ultimately drive sales growth.

OutSystems

Series C in 2016
OutSystems, Inc. is a company that specializes in a low-code platform designed for the development of enterprise web and mobile applications. Founded in 2001 and based in Boston, Massachusetts, the platform allows organizations to build applications that can operate in cloud, on-premises, or hybrid environments. It combines low-code development with advanced capabilities, enabling users to visually develop entire applications that easily integrate with existing systems. OutSystems serves various industries, including insurance, banking, education, healthcare, and government, and targets IT leaders, enterprise architects, and professional developers. The platform is recognized for its ability to facilitate the rapid development and management of robust applications while avoiding vendor lock-in.

Codacy

Seed Round in 2015
Codacy is an automated code review tool designed to assist developers in optimizing their code review processes and managing technical debt more effectively. By analyzing code and grading code patterns, Codacy enables developers to monitor project health and track new issues by severity level for each commit and pull request. This functionality allows for a more efficient code quality assessment, helping to identify problematic patterns and bugs while reducing the time spent on code style reviews. Ultimately, Codacy aims to streamline the development workflow, allowing teams to focus on delivering high-quality software more rapidly.

Fastinov

Seed Round in 2015
FASTinov S.A., founded in 2013 and located in Matosinhos, Portugal, specializes in the development and marketing of technology for rapid antimicrobial susceptibility testing. The company focuses on creating patented kits that allow for the swift and accurate assessment of life-threatening bacterial infections directly from blood cultures. By utilizing a method that detects microbial cell lesions and metabolic changes through specific fluorochromes, the technology enables healthcare professionals to make informed decisions regarding appropriate drug prescriptions for treating infections. This innovative approach significantly reduces the time required for obtaining test results, enhancing patient care in acute care settings.

Tradiio

Seed Round in 2015
Tradiio is a music app available on both web and mobile platforms that focuses on music discovery and artist funding. It allows music fans to discover emerging artists through a crowd curation process. The platform enables artists to monetize their fan base by inviting them to join a subscription-based model called Circle, where fans receive exclusive content and behind-the-scenes access in exchange for monthly payments. This approach not only connects musicians with their supporters but also facilitates a direct funding mechanism, helping artists to grow their audience while generating consistent revenue.

Feedzai

Series B in 2015
Feedzai is AI. We’re coding the future of commerce with today’s most advanced risk management platform powered by big data and artificial intelligence. Founded and developed by data scientists and aerospace engineers, Feedzai has one mission: make banking and commerce safe. The world’s largest banks, payment providers and retailers use Feedzai’s machine learning technology to manage risks associated with banking and shopping, whether digitally or in person.

Tradiio

Seed Round in 2015
Tradiio is a music app available on both web and mobile platforms that focuses on music discovery and artist funding. It allows music fans to discover emerging artists through a crowd curation process. The platform enables artists to monetize their fan base by inviting them to join a subscription-based model called Circle, where fans receive exclusive content and behind-the-scenes access in exchange for monthly payments. This approach not only connects musicians with their supporters but also facilitates a direct funding mechanism, helping artists to grow their audience while generating consistent revenue.

Tradiio

Seed Round in 2014
Tradiio is a music app available on both web and mobile platforms that focuses on music discovery and artist funding. It allows music fans to discover emerging artists through a crowd curation process. The platform enables artists to monetize their fan base by inviting them to join a subscription-based model called Circle, where fans receive exclusive content and behind-the-scenes access in exchange for monthly payments. This approach not only connects musicians with their supporters but also facilitates a direct funding mechanism, helping artists to grow their audience while generating consistent revenue.

Codacy

Seed Round in 2013
Codacy is an automated code review tool designed to assist developers in optimizing their code review processes and managing technical debt more effectively. By analyzing code and grading code patterns, Codacy enables developers to monitor project health and track new issues by severity level for each commit and pull request. This functionality allows for a more efficient code quality assessment, helping to identify problematic patterns and bugs while reducing the time spent on code style reviews. Ultimately, Codacy aims to streamline the development workflow, allowing teams to focus on delivering high-quality software more rapidly.

LaserLeap

Seed Round in 2013
LaserLeap Technologies SA, founded in 2011 and based in Coimbra, Portugal, specializes in a pioneering technology that facilitates the painless delivery of medicines and cosmetics through the skin. This innovative approach leverages two decades of research in lasers and ultrasound, combining affordable lasers with advanced materials to enhance skin permeation. LaserLeap's technology is applicable across various sectors, including cosmetics, analgesics, anesthetics, therapeutics, vaccines, and biotechnology drugs. By enabling safe and effective intradermal and transdermal administration, the company aims to improve treatment efficacy and patient comfort, addressing a critical need in the healthcare market.

NutriVentures

Seed Round in 2013
NutriVentures is an innovative company focused on creating animated content aimed at children under the age of ten. The company's flagship project combines entertainment with education, offering engaging stories and characters that teach children about the importance of healthy food choices. NutriVentures provides multiplatform content that not only entertains but also empowers parents and educators to influence children's dietary habits positively. In addition to its animated series, the company establishes partnerships to develop further content and support nutritional programs, promoting a comprehensive approach to healthy eating. NutriVentures envisions a world where children learn about proper nutrition in an exciting and interactive environment, fostering a lifelong appreciation for healthy food.

Ynvisible Interactive

Series A in 2013
Ynvisible Interactive Inc. is a company focused on the development and sale of electrochromic displays, primarily in Europe. Established in 2010, the company offers a range of services, including system design, integration, and production, catering to various sectors such as healthcare, consumer products, logistics, and printing. Its expertise extends to product design, prototyping, technology transfer, and licensing, allowing for tailored applications to meet specific client needs. Headquartered in Vancouver, Canada, Ynvisible Interactive Inc. is positioned at the intersection of electronics and the Internet of Things, emphasizing low power electronics and advancements in microelectronics and wireless communications.

HeartGenetics

Seed Round in 2013
HeartGenetics, Genetics and Biotechnology S.A. is a company based in Arruda dos Vinhos, Portugal, established in 2013. It specializes in developing genetic tests specifically for cardiac pathologies, addressing the needs of patients and clinicians dealing with inherited cardiovascular disorders. The company employs an innovative DNA microchip technology that encompasses all known genetic variants associated with specific cardiac diseases, utilizing a high-throughput and precise MassArray system for genetic analysis. HeartGenetics aims to enhance healthcare through AI-backed tools and genetic testing kits, facilitating actionable and cost-effective solutions in the fields of cardiovascular health, nutrition, and pharmacogenetics. As of November 2020, it operates as a subsidiary of Impact Lab Srl.

Ecofoot

Seed Round in 2013
Ecofoot, founded in 2012, specializes in innovative textile coloration technology aimed at fostering a more sustainable and less toxic dyeing process. The company, which comprises researchers from the University of Minho along with entrepreneurs and investors, has garnered attention for its pioneering use of hybrid dyes. Ecofoot's technology focuses on the development of functional nano pigments made from porous polymer particles. This unique approach minimizes hydrolysis during the dyeing and printing of textiles and facilitates the release of anionic products during washing, effectively clearing excess dye from polyester and cotton fiber blends. By implementing this technology, Ecofoot enables the textile industry to significantly reduce water and energy consumption, decrease pollution, and streamline production processes.

Muzzley

Seed Round in 2012
Muzzley is an intelligent mobile app+cloud+api/sdk intelligent platform for IOT consumer world. It's a single entry point that avoids the consumer to have hundreds of different apps to interact with hundreds of different devices. The system predicts the user desires according to the constant learning algorithm and suggests/takes actions to improve his/her relation with the connected devices.

Ubiquity Global Services

Series A in 2012
Ubiquity Global Services, Inc. is a multinational outsourcing organization headquartered in New York City, specializing in customer support and business process management. Founded in 2012, the company offers a range of services including call center operations, sales and retention support, social media management, and risk and compliance solutions such as fraud investigation and identity verification. Ubiquity also provides business services like content creation, graphic design, and IT staff augmentation. Its innovative customer experience management solutions aim to enhance user satisfaction while optimizing service costs through a next-generation technology platform. Ubiquity operates an expanding network of service delivery locations in the United States, El Salvador, and the Philippines, among other global sites. The company's comprehensive approach is designed to maximize the potential of every customer interaction, delivering actionable business intelligence to its clients.

Iosil Energy

Private Equity Round in 2012
Iosil Energy Corporation specializes in the production and marketing of high-purity polysilicon, a critical raw material for solar cells. Founded in 2007 and headquartered in Groveport, Ohio, the company has established research and development facilities at the National Institute for Nanotechnology in Edmonton, Alberta. Iosil Energy utilizes innovative technology to purify silicon from waste material generated by wafer sawing operations, known as "kerf." This process not only enhances the purity of the polysilicon produced but also reduces energy consumption and equipment requirements, allowing for a more cost-effective solution for clients in the solar industry.

Equigerminal

Seed Round in 2012
equigerminal,SA operates as a veterinary company that develops and produces anti virus and other biotechnology products. The company offers an anti virus solution for Equine Infectious Anaemia virus. The company was founded in 2011 and is based in Cantanhede, Portugal.

SAK Project

Seed Round in 2012
SAK Project specializes in the development of innovative sports protection equipment, particularly focusing on custom shin guards for football players. Utilizing unique technology, the company offers a non-intrusive scanning process that rapidly generates highly accurate 3D models of players' legs in under 30 seconds. This advanced approach allows for the creation of shin guards made from high-performance polymer materials that provide exceptional energy absorption, effectively safeguarding athletes from injuries during play. By combining cutting-edge technology with high-quality materials, SAK Project aims to deliver the most effective protective gear for football players.

Current Communications Group

Venture Round in 2011
CURRENT provides electric utilities a Smart Grid solution that increases the efficiency and reliability of the electric grid while reducing the environmental impact of electric usage. Their integrated solution combines advanced sensing technology, two-way high-speed communications, 24/7 monitoring and enterprise analysis software and related services to provide location-specific, real-time actionable data. CURRENT is also a fully-integrated communications service provider, with the capability to offer high-performance broadband services and home energy management services to every plug in every home or office using the electric wires.

Spectrum Bridge

Series B in 2011
Spectrum Bridge is a privately held, telecommunication software company focused on making bandwidth more readily available to enterprises and consumers. The company's core business is providing greater availability and access to wireless bandwidth and the efficient allocation of spectrum within a wireless network. The company creates intellectual property (IP) and software applications, operates a spectrum exchange, and provides complete spectrum allocation solutions. Its patented technology provides wireless networks with the ability to dynamically access available spectrum via a database-driven cognitive network architecture.

Feedzai

Seed Round in 2011
Feedzai is AI. We’re coding the future of commerce with today’s most advanced risk management platform powered by big data and artificial intelligence. Founded and developed by data scientists and aerospace engineers, Feedzai has one mission: make banking and commerce safe. The world’s largest banks, payment providers and retailers use Feedzai’s machine learning technology to manage risks associated with banking and shopping, whether digitally or in person.

Magpower

Venture Round in 2011
Magpower is one of the world`s largest manufacturer of CPV solar modules and trackers, and is presently expanding the manufacturing capacity to an annualized run rate of 54MW by the end of 2013. By enabling clean and renewable electricity at lower costs, Magpower provides a sustainable alternative to conventional energy sources. The vision to produce solar energy at an affordable price has driven Magpower to become one of the fastest growing manufacturers of solar systems in the world. The MagSun® TRK-180 represents the latest advancements in solar module technology and is rapidly driving down the cost of solar electricity to rates comparable with traditional fossil fuel-based energy sources.

Domatica

Series A in 2011
Domatica is a company specialized in IoT technology focused on bridging the gap between the physical world and the logical world of software. Since its inception in 2002, we have sought to address this major issue of IoT, with a completely differentiating approach, now the so-called IoT Edge. In this sense, using all the expertise of our multidisciplinary team, we have created easyedge, a flexible, reliable, robust and secure IoT Edge platform that allows virtually any device to be connected to any type of application in a simple and easy way. Domatica operates in a B2B perspective, privileging strategic partnerships with market players, such as software or hardware manufacturers. Through them it was possible for Domatica to put its technology at the service of numerous IoT projects around the world.

BERD

Series A in 2011
BERD S.A., founded in 2006 and based in Matosinhos, Portugal, specializes in the design, development, manufacture, and supply of equipment for bridge construction. The company offers a range of products, including movable scaffolding systems that cater to various construction needs, such as underslung and large span options. In addition to its manufacturing capabilities, BERD provides consultancy services focused on bridge design and construction methodologies. Since initiating its international expansion in 2007, the company has established a presence in multiple countries, including Spain, France, Germany, Poland, Romania, the United States, and Russia, among others. BERD's foundation was inspired by the Organic Prestressing System developed at the Faculty of Engineering of the University of Oporto, reflecting its commitment to innovation in the field of civil engineering.

TxVia

Series D in 2010
TxVia specializes in advanced transaction processing technology for various payment applications, including consumer, corporate, and government services. The company provides a platform-as-a-service (PaaS) model that offers fully customizable solutions tailored to the specific processing needs of its clients. TxVia's product portfolio encompasses a wide range of prepaid card systems, such as retail gift cards, general purpose reloadable cards, healthcare cards, and payroll cards. Their systems are designed to support bank issuers and program managers in effectively managing prepaid card programs. By leveraging TxVia's technology, clients—including some of the largest companies in the payments industry—benefit from improved time-to-market, cost efficiency, scalability, reliability, and security.

Petra Systems

Series B in 2010
Petra Solar is a technology company, pioneering "smart solar" which couples distributed solar energy generation with smart grid technology, with their own smart grid communication infrastructure and platform. Petra Solar's smart energy systems are being deployed in both the largest distributed solar electric project and the largest rooftop project in the world today.

TxVia

Series C in 2009
TxVia specializes in advanced transaction processing technology for various payment applications, including consumer, corporate, and government services. The company provides a platform-as-a-service (PaaS) model that offers fully customizable solutions tailored to the specific processing needs of its clients. TxVia's product portfolio encompasses a wide range of prepaid card systems, such as retail gift cards, general purpose reloadable cards, healthcare cards, and payroll cards. Their systems are designed to support bank issuers and program managers in effectively managing prepaid card programs. By leveraging TxVia's technology, clients—including some of the largest companies in the payments industry—benefit from improved time-to-market, cost efficiency, scalability, reliability, and security.

Ultracell

Venture Round in 2009
UltraCell Corporation (Livermore, CA) was founded in 2002 to commercialize an advanced Reformed Methanol Micro Fuel Cell (RMFC) technology invented at the U. S. Department of Energy's Lawrence Livermore National Laboratory (LLNL). This technology enables a breakthrough in micro fuel cell performance. UltraCell is the first to commercialize RMFC technology to provide clean renewable energy to power portable electronics. The Ultracell XX25 is the only system to have undergone extensive Military Specification qualification testing and field trials.

A123 Systems

Series E in 2009
A123 Systems is a prominent developer and manufacturer of advanced lithium-ion batteries and energy storage systems. The company leverages innovative nanoscale materials initially developed at MIT to create its proprietary Nanophosphate electrode technology, which offers significant advantages over competing high-power technologies. A123's battery cells and electrode designs are engineered to reduce costs per watt and per watt-hour, while also providing higher voltage compared to other long-life battery systems. This results in lower overall pack costs and enhanced price-performance due to the batteries' long lifespan, which minimizes lifecycle costs. A123 Systems serves clients across various industries by delivering efficient power solutions that increase battery life and safety in electronic devices. Competitors in the space include Valence, Saft, and Lion Cells.

Nutrigreen

Series A in 2009
Nutrigreen Created in 2009 by a young, yet experienced team, responsible for launching innovative products on the market – Fruit and vegetables ready to eat – Nutrigreen is a Portuguese company which produces and markets fresh fruit derivatives, with solid partnerships with some of the major portuguese and european distributors.

Advanced Cyclone Systems

Venture Round in 2009
Advanced Cyclone Systems SA specializes in the development and commercialization of high-efficiency cyclone systems for various industrial applications. Founded in 2008 and headquartered in Porto, Portugal, the company offers a range of products, including the Hurricane (Numerically Optimized Cyclone), Mechanical ReCyclone, and Electrostatic ReCyclone. These systems are designed for emission control and air dedusting in sectors such as biomass and coal boilers, glass and cement industries, and high-temperature separation processes. In addition to improving air quality, their technology enhances product recovery in pharmaceutical, chemical, and mineral processing applications. By utilizing cyclonic power, Advanced Cyclone Systems enables clients to achieve effective particle capture while minimizing the costs associated with traditional dust collection methods.

Spectrum Bridge

Series B in 2008
Spectrum Bridge is a privately held, telecommunication software company focused on making bandwidth more readily available to enterprises and consumers. The company's core business is providing greater availability and access to wireless bandwidth and the efficient allocation of spectrum within a wireless network. The company creates intellectual property (IP) and software applications, operates a spectrum exchange, and provides complete spectrum allocation solutions. Its patented technology provides wireless networks with the ability to dynamically access available spectrum via a database-driven cognitive network architecture.

Oceanlinx

Venture Round in 2008
Oceanlinx is an international renewable energy company with a unique, commercially efficient system for extracting energy from ocean waves and converting it to electricity, or utilising that energy to produce clean, fresh water from brine.

Watson Brown

Series A in 2008
Watson Brown HSM Limited develops and supplies polymer recycling technologies based on the principles of Mechanochemistry. It offers toll processing services, recycled compounds, down cycling compounds, and custom products. The company was founded in 1997 and is based in London, United Kingdom. It has operations in the United Kingdom, Germany, and America.

SafetyPay

Series A in 2008
SafetyPay is a global online payment solution that allows customers to make secure purchases from merchants worldwide while paying directly through their local bank accounts in their local currency. Developed to address the need for a safe international payment method, SafetyPay serves various industries, including airline, automotive, retail, finance, and insurance. Its software provides real-time global payment options, facilitating hassle-free transactions for online shoppers, merchants, and banks. By prioritizing security and convenience, SafetyPay aims to enhance the online shopping experience for users across different regions.

Multiwave Photonics

Series B in 2008
Multiwave offers pulsed fiber lasers that allow the customer to control key operating parameters. Multiwave also offers other optical sources based on fiber-optic technologies, as well as product design, product development and engineering services aimed at developing and selling cost-effective and reliable products and solutions that resolve customer pains.

TxVia

Series B in 2008
TxVia specializes in advanced transaction processing technology for various payment applications, including consumer, corporate, and government services. The company provides a platform-as-a-service (PaaS) model that offers fully customizable solutions tailored to the specific processing needs of its clients. TxVia's product portfolio encompasses a wide range of prepaid card systems, such as retail gift cards, general purpose reloadable cards, healthcare cards, and payroll cards. Their systems are designed to support bank issuers and program managers in effectively managing prepaid card programs. By leveraging TxVia's technology, clients—including some of the largest companies in the payments industry—benefit from improved time-to-market, cost efficiency, scalability, reliability, and security.

Maló Clinic

Series A in 2008
MALO CLINIC was established in 1995 by Dr. Paulo Malo. Today is world’s leader in Implantology and Dental Cosmetic as well as an Educational Centre on Oral Rehabilitation that trains over 3,500 professionals coming from all over the world per year. Besides Dentistry MALO CLINIC expanded to other health specialties, projecting an innovative concept of Medical Spa through a strong bet in wellbeing which resulted in the foundation of a Health Management business group spread worldwide known as MALO CLINIC Health & Wellness.

Atraverda

Series B in 2007
Atraverda is an advanced material company that owns the intellectual property rights to a conductive ceramic known worldwide through its trademark, Ebonex®.

OutSystems

Series B in 2007
OutSystems, Inc. is a company that specializes in a low-code platform designed for the development of enterprise web and mobile applications. Founded in 2001 and based in Boston, Massachusetts, the platform allows organizations to build applications that can operate in cloud, on-premises, or hybrid environments. It combines low-code development with advanced capabilities, enabling users to visually develop entire applications that easily integrate with existing systems. OutSystems serves various industries, including insurance, banking, education, healthcare, and government, and targets IT leaders, enterprise architects, and professional developers. The platform is recognized for its ability to facilitate the rapid development and management of robust applications while avoiding vendor lock-in.

AquaSpy

Venture Round in 2007
Intelligent water management reduces the need for costly new alternatives including recycling and desalination. It means knowing how much water is being used and where it can be saved. AquaSpy technology has been proven in the toughest environment of all - outback Australia. Its sensors have helped farmers improve yields by as much as 100%. Now they are being used across agricultural markets, in cities and towns, and beneath some of the world's finest golf courses, in the Americas, Australia and Europe. There are over 50,000 AquaSpy sensors in use around the world. AquaSpy Group has representation across the USA, Latin America and Australia.

Chipidea Microelectrónica

Series C in 2007
Chipidea Microelectrónica offers analog and mixed semiconductor solutions to wireless communications, digital media, and consumer electronics market segments. It provides analog subsystems for wireless and wire line communications, device-to-device connectivity, multimedia, and power management in Europe, Asia, and North America. The company offers analog and mixed Internet protocol products in various categories, including analog to digital converters, analog filters, analog front end, analog standard cells, audio and voice, clock management, digital modules, over sampling modulators, power management, radio frequency, USB link controllers, and USB physical interfaces for blue chip customers.

Ophtalmopharma

Series A in 2007
OphthalmoPharma is a pharmaceutical company focused on developing treatments for various eye diseases, specifically targeting unmet medical needs in ophthalmology. The company's product pipeline includes therapies for dry eye syndrome, glaucoma, and age-related macular degeneration. OphthalmoPharma has partnered with Altacor, granting them exclusive rights to two proprietary therapeutic products aimed at treating glaucoma and dry eye. Additionally, Altacor holds exclusive rights to OphthalmoPharma's EyeBar, a nutraceutical designed to help prevent dry age-related macular degeneration, as well as a preloaded injector for the delivery of intraocular lenses in cataract and corrective lens replacement surgeries, known as SOLO.

SuperBAC

Series A in 2007
Superbac develop our activities based on the responsible principle of nature self-remediation and create specific microorganism blends to fulfill different needs. We produce concentrated blends on an industrial scale, focusing on formulations which are easy to use and can be applied continually. Founded in 1995, SuperBAC is a biotechnological solution company, focusing on Innovation. Our solutions stimulate sustainability in the production processes in the fields of agribusiness, sanitation, energy, bioremediation, and retail. We have Research and Development centers and units in the United States, Brazil, and Colombia to come up with solutions that are environmentally correct and economically feasible.

Sousacamp

Series A in 2007
Sousacamp, SGPS, S.A. produces and supplies mushrooms for the food industry and households. The ocmpany is based in Braganca, Portugal.

Coreworks

Series A in 2006
Coreworks® S.A. is a leading provider of Semiconductor Intellectual Property (SIP) for multi-standard multimedia such as DTV, IPTV, portable audio players, and mobile internet devices. Our products have been implemented in a wide variety of technologies, for more than 30 customers worldwide. Our products include digital audio encoders and decoders such as Dolby Digital, Advanced Audio Coding (AAC and AAC+), MPEG1/2 Layers 1/2, digital audio interfaces such as SPDIF/AES-EBU, TDM, I2S, and asynchronous sample rate converters. Coreworks' products rely on the SideWorks™ patent pending technology for automatically creating pre-silicon configurable and post-silicon reconfigurable hardware accelerators. Our solutions achieve three to five times more efficiency in terms of silicon area and power consumption, compared to the competition. Coreworks was founded in 2001 by two professors of the Technical University of Lisbon (IST) doing research on Reconfigurable Computing at the Institute for Systems and Computer Engineering R&D (INESC-ID). The company received an A-series investment round from Espírito Santo Ventures in 2006, and three R&D grants from the Portuguese government. Its complex technology is still undergoing developments.

YDreams

Series A in 2006
YDreams - Informática SA specializes in the research and development of proprietary technologies in image processing, augmented reality, and gesture-based interfaces. The company offers a range of interactive products, including Aquarium, which enables users to create virtual pet fish; Boxfall, an application for overlaying virtual elements on real-time video; and Photobooth, designed for product promotion. Other notable offerings include Orbit, which allows for gesture-based product browsing; Mirror, for audience engagement; and Magic Book, a presentation tool for various printed materials. YDreams serves diverse markets, including retail, culture, corporate, banking, events, and branding, both in Portugal and internationally, distributing its products through resellers. Founded in 2000 and headquartered in Caparica, Portugal, YDreams was previously known as Ideias Interactivas S.A. before rebranding in 2002.

Global Active

Series A in 2006
Global Active is the Portuguese holding of a group of companies specialized in projects for agriculture, cattle breading and forest planning.

Clarity Payment Solutions

Series A in 2000
Clarity Payment Solutions develops electronic payment solutions and processes payment transactions for emerging and specialty markets.

Clarity Payment Solutions

Venture Round in 2000
Clarity Payment Solutions develops electronic payment solutions and processes payment transactions for emerging and specialty markets.

Vortal

Series A in 2000
Vortal is a leading G2B2B (Government to Business to Business) eMarketplace operator, serving more than 50,000 companies and 2,000 contracting authorities in 3 continents. The company was founded in 2000 with a mission “to help our clients buying better and selling more", to achieve superior performance” in a high performance collaborative cloud-based solution. Vortal supports its customers through its offices in Portugal, Spain, UK and the Czech Republic , with a team of highly-motivated people from 7 nationalities. Business foundation has been built on becoming the leader in Portugal, both in the Private and Public markets regarding electronic procurement. Since 2010, Vortal has been consecutively distinguished as one of "100 best companies to work in Portugal", in a survey carried out by “Accenture" and "Exame" magazine. In 2011, the Association of Electronic Commerce and Interactive Advertising distinguished Vortal as the "Best B2B e-commerce website". At an International level, Vortal was included in the Deloitte “Technology fast growing 500 EMEA ranking” and recognized by Gartner regarding expertise and capabilities, namely in the publications “Strategies for Public-Sector Investment in Procurement Applications" and "Cool Vendors in Procurement Applications".
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