Amidst a backdrop of rich culture and scenic beauty, Portugal has emerged as a dynamic hub for entrepreneurial ventures, drawing in visionaries, investors, and talent from around the globe.
Supported by a network of incubators, accelerators, and co-working spaces, startups in Lisbon, Porto, and beyond are driving groundbreaking solutions across various industries.
With a supportive ecosystem, including government initiatives and access to funding, Portugal offers a fertile ground for collaboration and innovation.
Here is the list of 10 companies that are shaping the landscape of Portugal’s tech sector.
TagEnergy
Industry: Energy
Amount raised in 2023: €570M
TagEnergy is a global renewable energy company that focuses on the development, financing, construction, and operation of clean energy projects.
They specialize in solar, wind, and battery storage solutions, aiming to accelerate the transition to a low-carbon economy.
Founded in 2019, TagEnergy leverages its expertise and innovative approaches to deliver sustainable energy solutions and contribute to a greener future.
REGA Energy
Industry: Energy
Amount raised in 2023: €60M
REGA Energy is a renewable energy company that focuses on producing biomethane and green hydrogen to help decarbonize heavy industries such as cement, glass, chemicals, and steel.
Founded in 2021, the company aims to accelerate the transition to a sustainable industry by providing these renewable energy solutions where electrification is not feasible.
The company is joining a leading group of sector players in cleantech for Iberia in a groundbreaking coalition, powered by Breakthrough Energy, to unlock Iberia’s potential as a clean energy hub.
Unbabel
Industry: Content
Amount raised in 2023: €19,5M
Unbabel is a company specializing in language operations (LangOps) and translation services, combining artificial intelligence with human expertise. Founded in 2013, Unbabel is headquartered in both Lisbon, Portugal, and San Francisco, California.
The company's platform integrates AI-driven machine translation with human post-editing to deliver high-quality translations. Unbabel's services focus on customer service communications and multilingual content translation, catering to industries such as gaming, retail, tech, and travel.
The platform offers features like AI quality estimation, intelligent workflows, and system integration, enabling businesses to streamline their global communication efforts efficiently.
Bizay
Industry: E-commerce
Amount raised in 2023: €18M
Bizay, also known as Binary Subject, is a that specializes in online printing services and promotional products.
The company offers a wide range of customizable items such as business cards, flyers, stamps, vinyl banners, stickers, decals, posters, folders, and more.
Bizay operates a technologically advanced platform that digitizes the traditional custom products industry, boasting a catalog of over 50,000 products. The company utilizes unique batching technology to offer significant cost savings and increased efficiency.
Coverflex
Industry: Jobs recruitment
Amount raised in 2023: €15M
Coverflex is an HR startup that offers a comprehensive compensation management platform. It integrates various employee benefits into a single solution, including meal allowances, insurance, childcare, education expenses, and more.
The platform aims to enhance employee satisfaction by allowing them to customize their compensation packages according to their needs and preferences. For companies, Coverflex simplifies the management of these benefits, helping to improve employee retention and productivity while reducing administrative burdens and costs.
Coverflex is distinguished by its "Compensation-as-a-Service" model, which focuses on providing flexible and tax-efficient benefits that employees can manage and spend through a single card and app.
BHOUT
Industry: Sports
Amount raised in 2023: €10M
BHOUT is a fitness technology company that combines physical training with gamification.
It uses interactive and immersive experiences to make workouts more engaging and motivating.
BHOUT offers products such as smart punching bags equipped with sensors and connected to a mobile app that tracks performance, provides feedback, and offers training programs.
The company's mission is to make fitness fun and accessible, encouraging more people to stay active through innovative technology.
Aptoide
Industry: Software
Amount raised in 2023: €8M
Aptoide is a global app store and distribution platform for Android applications, known for its user-driven approach that allows anyone to create and manage their own app store.
Founded in 2011 and headquartered in Lisbon, Portugal, Aptoide offers a unique ecosystem where users can discover and share apps through various independent stores.
Aptoide also supports alternative payment solutions like AppCoins, enhancing app monetization and user engagement.
BCAS
Industry: Fintech
Amount raised in 2023: €7.7M
Bcasapp is a fintech focused on the world of education. Their mission is to guarantee sustainable, equitable and quality education by advancing the payment of scholarships to the more than one million students who receive their scholarships late.
The platform has revolutionized the edtech ecosystem by offering the student a financing model that is much more accessible, flexible, democratic and disruptive than the traditional banking model.
Infraspeak
Industry: Back office
Amount raised in 2023: €7.5M
Infraspeak is a company that specializes in intelligent maintenance management software. The company offers an advanced platform designed to streamline and enhance facility management operations.
The platform is used to automate recurring tasks, manage work orders, and ensure compliance with industry regulations and service-level agreements (SLAs).
Infraspeak's system is particularly noted for its ability to improve productivity, reduce downtime, and provide comprehensive insights through robust analytics and reporting tools. This makes it a valuable tool for various industries, including hospitality, healthcare, retail, and industrial maintenance.
Ethena
Industry: Fintech
Amount raised in 2023: €6M
Ethena provides the derivative infrastructure in order to transform Ethereum into the first crypto-native yield-bearing synthetic dollar which is not reliant on the banking system: USDe.
The company offers to revolutionize the way we interact with the cryptocurrency market with its delta-neutral stablecoin, which offers several advantages over traditional stablecoins, enabling investors who want to gain exposure to the cryptocurrency ecosystem without having to worry about price volatility.
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