Top 15 Fitness Startup Investors in Portugal in September 2025
A list of 15 angel investors and VC (Venture Capital) funds that invest in Fitness startups based in Portugal. We rank investors based on the number of investments they made in Fitness companies from Portugal. We update this investor list every month.Top 15 Fitness Startup Investors in Portugal in September 2025
| Investor | Fitness Portugal investments | 
|---|---|
| Olisipo Way | 3 | 
| Portugal Ventures | 2 | 
| TrulyMad | 2 | 
| M4 Ventures | 1 | 
| Bynd Venture Capital | 1 | 
| Ganexa Capital | 1 | 
| Lince Capital | 1 | 
| Scott MacMillan | 1 | 
| Pankaj Chaddah | 1 | 
| StartUp Health | 1 | 
| Deepinder Goyal | 1 | 
| Armilar Venture Partners | 1 | 
| Jeremy Hendon | 1 | 
| Boost VC | 1 | 
| Michael Chang | 1 | 
            Olisipo Way is an early-stage venture firm that focuses on IT investments. It invests in technology companies with very diverse and complementary skills. The initial portfolio of Olisipo Way comes from the innovation created within the Olisipo through the continuous stimulation of innovation among employees and the incubation of new businessventures.The firm was founded in 2015 and is headquartered in Lisbon, Lisboa.
          
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            Investment focus
            
          - Software, SaaS, Communities
- Pre-Seed, Seed, Convertible Note
- Portugal
                          Portfolio highlights
              
        - sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
- Checkfirst — Create AI-powered inspection workflows that collect and verify on-site data, effortlessly.
- OSCAR — On-demand app for home services like repair, cleaning and laundry with fixed prices in less than 30 minutes.
            Verticals:Enterprise, SaaS, Security, Networks, AI, VR/AR, Marketplace, Blockchain, Internet of Things, New materials, Electronics, Robotics, Cleantech, Agrotech, Seatech, Therapeutics, Digital Health, Diagnostics,  Innovative Accommodation, Tourist Entertainment Companies, Tour Operators, Wine, Nautical and Equestrian Tourism, Theme ParksMobile, Robotics Founded in 2012, Portugal Ventures is a venture capital firm based in Porto, Portugal. The firm is a part of the Banco Português de Fomento group. The firm seeks to invest in pre-seed, seed and series A stages
          
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            Investment focus
            
          - Software, Information Technology, Health Care
- Seed, Funding Round, Pre-Seed
- Portugal, United States, France
                          Portfolio highlights
              
        - Glartek — Glartek's Augmented and Connected Worker solution enables increasing efficiency, safety, and excellence in all industrial operations.
- Winalist — Discover and book curated wine tours, tastings, and exclusive wine and spirits experiences across Europe and the US. Explore top vineyards and enjoy personalized recommendations with Winalist.
- Mantis-AI — Mantis.AI is an entertainment tech company that takes raw videos and noisy data and shapes them into a masterpiece of organized video clips, enriched data and content insights.
            TrulyMad Business Accelerator
          
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            Investment focus
            
          - Beauty, Fitness, Wellness
- Pre-Seed
- Portugal
                          Portfolio highlights
              
        - sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
            M4 Ventures helps startups to grow and expand globally through experience and hands-on collaboration.
          
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            Investment focus
            
          - FinTech, Payments, Mobile Payments
- Seed, Funding Round
- Portugal, United Kingdom, United Arab Emirates
                          Portfolio highlights
              
        - Modatta — Your data is worth a fortune, so why aren't you getting paid? Now you can. Monetize your data. Decide who uses it and why. Bring fairness to the system.
- PayNest — PayNest is a payments amalgamator, which was created with the core mission of digitizing cash collection in the Middle East.
- Paynest — Hello, we are Paynest! An innovative online platform with a very important mission: to give every employee the tools to master financial wellness and build a resilient future. Instant wage access, financial education and mentoring by professional financial coaches are the main benefits we bring on the table.Our co-partners in this mission will bethe pioneering employers: the minds who have an insightful and special way of thinking. Those who believe that their teams’ wellness is a top priority and want to see their employees evolve both professionally and personally. Together we will provide independence and safety to every employee. And that’s just the beginning! We are here to grow with you.50% of employees confirm that they are unable to fund a financial emergency. This is something that “produces” a never-ending sense of financial stress. Studies show that the demanding modern life and the global political and economical changes make every employee worry about the future. In Paynest we believe that it's vital for employees to have instant wage access whenever they want to. The result will be less everyday stress, more focus and boosted morale.In Paynest we believe that if you take action today, you can dream of tomorrow.And that is something that works both for every employer and every employee around the world.
            Bynd is a leading Iberian Venture Capital firm
          
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            Investment focus
            
          - Software, SaaS, Health Care
- Seed, Pre-Seed, Series A
- Portugal, Spain, United States
                          Portfolio highlights
              
        - Dealcar — DEALCAR is a company that digitalizes the used car market through a SaaS platform, enabling fully digital transactions. This platform creates a network effect benefiting dealers, partners, and customers. • Dealers: Increase revenue by selling extra products and boost sales by reducing turnover time. • Partners: Distribute products at the pointof sale without marketing expenses, lowering operational costs. • Consumers: Purchase a used car easily in just three steps, enjoying a smooth, trusted process similar to renting but with the benefits of owning a car.
- nuuEnergy — nuuEnergy is a tech-enabled solution aiming to revolutionize the heat pump installation industry. By leveraging technology and industry expertise, we streamline the purchasing and installation process. Our unique approach, refinanced through innovative strategies, promotes a self-reliant and carbon-neutral lifestyle for all our customers.
- Relive — Relive is empowering the next generation of real estate entrepreneurs, with a mobile app that allows them to work for themselves, from anywhere, while saving time and earning commissions faster.
            Ability to open doors on opportunities (potential clients/strategic partners/suppliers/etc). Add market credibility, something missing in many start-ups.Know-how that can save you time, money and unnecessary stress and worry. Ability to complement the existing management team, filling gapsThey understand the difficulties andhardships of starting and building a business. They are motivated to work with you on the building process, and not just wait for the end result
          
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            Investment focus
            
          - Health Care, Fitness, Wellness
- Seed, Pre-Seed, Funding Round
- Portugal, United States, United Kingdom
                          Portfolio highlights
              
        - Abtrace — Abtrace is an automated, self-learning care system where we can provide personalised care, delivered at population scale - where predictive, preventative and proactive approaches keep people healthy and out of hospital.
- sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
- ChemiTek — Certified & sustainable solutions for industrial maintenance. We have the solutions you need!
            Lince Capital is an independent venture capital company. Lince Capital was born from the experience of a family group with over 30 years of experience in managing investment funds in various business areas, including real estate, infrastructure, agriculture, and telecommunications.Lince Capital is distinguished by its personalized and excellentsupport, close and direct relationship with each of its investors and business partners, and the dedication of an experienced and dynamic team.
          
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            Investment focus
            
          - Information Technology, E-Commerce, SaaS
- Seed, Funding Round
- Portugal, United Kingdom, United Arab Emirates
                          Portfolio highlights
              
        - pleez — Pleez offers Restaurant's an optimisation of their menu within Delivery Platforms, so that they can have a revenue increase up to 25%.
- Sensei — We are the leading European provider of autonomous stores, with an AI-powered solution to build efficient operations and deliver a seamless shopping experience.
- OSCAR — On-demand app for home services like repair, cleaning and laundry with fixed prices in less than 30 minutes.
            Scott MacMillan
          
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            Investment focus
            
          - Apps, Fitness, Big Data
- Pre-Seed
- Portugal
                          Portfolio highlights
              
        - Virtuleap — Virtuleap combines neuroscience and virtual reality to help increase attention levels, and address cognitive illnesses, disorders, and learning challenges. We have created a library of VR games designed by neuroscientists in order to test and train a range of cognitive abilities and make that data accessible through our enterprise platform. Ourfirst paid client is the AARP, and we are now working with leading institutions, like the VA Health Care System and the Pacific Brain Health Center, to validate our solution as an effective diagnostic and treatment for attention deficit and cognitive decline.
            Pankaj Chaddah is the Co-Founder of Shyft. Pankaj graduated with a degree in mechanical engineering from IIT Delhi in 2007.
          
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            Investment focus
            
          - E-Commerce, Fitness, Health Care
- Seed, Pre-Seed, Series A
- India, France, Portugal
                          Portfolio highlights
              
        - sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
- Yoho — Yoho manufactures orthopaedic lightweight footwear.
- Clean Electric — Clean Electric builds Lithium-Ion Batteries with Liquid Immersion Cooling. Fast Charge. Long Life. Unparalleled Safety.
            Organizing and investing in a global army of entrepreneurs committed to achieving health moonshots
          
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            Investment focus
            
          - Health Care, Wellness, Medical
- Seed, Funding Round, Pre-Seed
- United States, Canada, United Kingdom
                          Portfolio highlights
              
        - AvoMD — AvoMD is reimagining clinical decision support with interactive point-of-care software, available standalone and via EHR integrations, and seamless content building tools.
- Pear Suite — Pear Suite empowers community health workers with technology, education, and community, helping them do their best work and serve their communities.
- Hidoc Consult — Hidoc Consult: Boost your well-being with free consultations, 24/7 access to quality healthcare, complete privacy, user-friendly, and a trusted network of HCPs
            Deepinder Goyal, Founder & CEO, Zomato, is the Founder and CEO of Zomato. Prior to starting Zomato, Deepinder worked as a management consultant with Bain and Company in New Delhi. It was at Bain that Deepinder conceived the idea of an online restaurant information service after seeing the demand for menu cards among his colleagues. He left Bainin 2008 to start Zomato (then foodiebay) out of his apartment and has since overseen strategy and product development. Deepinder graduated with a Mathematics and Computing degree from IIT Delhi in 2005 and hails from Muktsar in Punjab.
          
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            Investment focus
            
          - Health Care, E-Commerce, Wellness
- Seed, Series B, Pre-Seed
- India, United States, Portugal
                          Portfolio highlights
              
        - Vayudh — Vayudh's aim is to create next-generation nanodrones and swarming technologies for modern defense and security applications.
- LAT Aerospace — Pushing the limits of aerospace engineering in speed, innovation, and accessibility.
- Sparkl Edventure — For IB & Cambridge Board (Math & Science)
            Armilar Venture Partners is Portugal's leading venture capitalist. An independent VC with a 20-year-old history, a high-performance track record and an international footprint, Armilar is a deep-tech investor in ICT, HealthTech and CleanTech.
          
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            Investment focus
            
          - Software, Information Technology, Manufacturing
- Series A, Seed, Funding Round
- Portugal, United States, United Kingdom
                          Portfolio highlights
              
        - Cintoo — Cintoo is essential for BIM to bridge the gap between your physical and virtual worlds.
- Automaise — Radically improve your customer care operations by focusing where the volume is and helping your agents do a better job.
- Sword Health — SWORD Health is a digital musculoskeletal (MSK) therapy provider. The company pairs licensed physical therapists with innovative technology to help people overcome their chronic and post-surgical pain faster and more cost-effectively. We’re on a mission to free two billion people from pain by making it simple for people to recover at home, withoutresorting to imaging, surgeries, or opioids. Since launching in 2015, SWORD Health has worked with insurers, health systems, and employers in Europe, Australia, and the U.S. to give thousands of people access to preventative, chronic, and post-surgical MSK care that gets results. SWORD Health has offices in New York City, Chicago, Salt Lake City, Sydney, and Porto.
            Jeremy Hendon
          
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            Investment focus
            
          - Apps, Fitness, Big Data
- Pre-Seed
- Portugal
                          Portfolio highlights
              
        - Virtuleap — Virtuleap is a health and education VR startup. We aim to elevate the cognitive assessment and training industry with the help of VR and AI.
            Boost VC: The Pre-Seed Fund Making Sci-FI a Reality. Investing in crypto, virtual reality, augmented reality, AI, Ocean Tech, Space Tech, human augmentation, exoskeletons and more.
          
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            Investment focus
            
          - Software, Blockchain, Virtual Reality
- Seed, Pre-Seed, Funding Round
- United States, Canada, United Kingdom
                          Portfolio highlights
              
        - Neurvona — AI Digital Twin Personas
- Castle — Castle is a technology company that makes it easy for companies to add bitcoin to their treasury, regardless of their knowledge of bitcoin. We enable businesses to go from zero to bitcoin in less than 48 hours.
- m00m world — m00m multiplayer sci-fi world! Build your container home, make friends, play mini-games, and fight the F8 Corporation. Based on our audio series and webcomic.
            Michael Chang
          
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            Investment focus
            
          - Apps, Fitness, Big Data
- Pre-Seed
- Portugal
                          Portfolio highlights
              
        - Virtuleap — Virtuleap combines neuroscience and virtual reality to help increase attention levels, and address cognitive illnesses, disorders, and learning challenges. We have created a library of VR games designed by neuroscientists in order to test and train a range of cognitive abilities and make that data accessible through our enterprise platform. Ourfirst paid client is the AARP, and we are now working with leading institutions, like the VA Health Care System and the Pacific Brain Health Center, to validate our solution as an effective diagnostic and treatment for attention deficit and cognitive decline.
        Investors by industry
        
                      
              
      
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              Belgium
            
                      
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              Czech Republic
            
                      
              Denmark
            
                      
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              Hong Kong
            
                      
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              Faroe Islands
            
                      
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        Investors in Portugal by industry
        
                      
                                                      
      
                Biotech
                                            
                      
                                                          
                      
                                                      Clean Energy
                                            
                      
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                                                      Finance
                                            
                      
                                                      Cryptocurrency
                                            
                      
                                                      Crowdfunding
                                            
                      
                                                      Payments
                                            
                      
                                                      Medical Device
                                            
                      
                                                      Wellness
                                            
                      
                                                      Gaming
                                            
                      
                                                      Social Media
                                            
                      
                                                      Internet
                                            
                      
                                                      Manufacturing
                                            
                      
                                                      Mobile
                                            
                      
                                                      Android
                                            
                      
                                                      Blockchain
                                            
                      
                                                      Construction
                                            
                      
                                                      Local
                                            
                      
                                                      Enterprise
                                            
                      
                                                      Enterprise Software
                                            
                      
                                                      Software
                                            
                      
                                                      eSports
                                            
                      
                                                      Hospitality
                                            
                      
                                                      CleanTech
                                            
                      
                                                      InsurTech
                                            
                      
                                                      Platforms
                                            
                      
                                                      FinTech
                                            
                      
                                                      Biotechnology
                                            
                      
                                                      Mobile Advertising
                                            
                      
                                                      Health Care
                                            
                      
                                                      Consumer
                                            
                      
                                                      EdTech
                                            
                      
                                                      Sustainability
                                            
                      
                                                      Energy
                                            
                      
                                                      Impact
                                            
                      
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                                                      Proptech
                                            
                      
                                                      Marketplace
                                            
                      
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                                                      Community
                                            
                      
                                                      Hardware
                                            
                      
                                                      Mobile Apps
                                            
                      
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                                                      Beauty
                                            
                      
                                                      Web3
                                            
                      
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                                                      Climate
                                            
                      
                                                      Fashion
                                            
                      
                                                      Real Estate
                                            
                      
                                                      Agriculture (agtech)
                                            
                      
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