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Top 50 Manufacturing Startup Investors in Portugal (October 2026)

The most active venture capital funds and angel investors investing in Portugal Manufacturing startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Portugal Manufacturing startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Portugal Ventures
VC Fund
24 Portugal, United States, United Kingdom Seed, Venture - Series Unknown, Pre-Seed Software, Information Technology, Health Care $107k–$3.6M
Momenta Ventures
VC Fund
5 United States, Switzerland, Canada Seed, Series A, Series B Software, Artificial Intelligence, Industrial Automation $1M–$60M
Caixa Capital
VC Fund
5 Portugal, United States, Spain Seed, Series A, Pre-Seed Software, Information Technology, Health Care $108k–$12M
Armilar Venture Partners
VC Fund
5 Portugal, United States, United Kingdom Seed, Series A Software, Information Technology, Artificial Intelligence $520k–$17M
Olisipo Way
VC Fund
4 Portugal, Germany, Lithuania Seed, Pre-Seed, Venture - Series Unknown Software, Information Technology, Analytics $118k–$5.3M
EDP Ventures
VC Fund
4 United States, Portugal, Brazil Seed, Series A, Venture - Series Unknown Software, Energy, Information Technology $530k–$14M
BlueCrow Capital
VC Fund
3 Portugal, United Kingdom, Spain Seed, Venture - Series Unknown, Series A Information Technology, Manufacturing, SaaS $697k–$18M
HCapital Partners
VC Fund
3 Portugal, Italy, Spain Seed, Venture - Series Unknown, Series A Software, Power Grid, Information Technology $1.1M–$15M
REDangels
VC Fund
3 Portugal, United States, Poland Seed, Pre-Seed, Angel Information Technology, Mobile, Machine Learning $11k–$1.6M
Indico Capital Partners
VC Fund
2 Portugal, United States, Spain Seed, Series A, Pre-Seed Information Technology, E-Commerce, B2B
Join Capital
VC Fund
2 Germany, United Kingdom, The Netherlands Seed, Series A, Venture - Series Unknown Software, Artificial Intelligence, Manufacturing $1.1M–$27M
Notion Capital
VC Fund
2 United Kingdom, United States, Germany Series A, Seed, Series B Software, Information Technology, Artificial Intelligence $1.1M–$66M
Spider Capital
VC Fund
2 United States, Canada, Israel Seed, Series A, Series B Software, Artificial Intelligence, SaaS $1.5M–$45M
GED Ventures Portugal
VC Fund
2 Portugal, France, Germany Seed, Venture - Series Unknown, Pre-Seed Software, Artificial Intelligence, Health Care $1.5M–$38M
Innovation Nest
VC Fund
2 Poland, United States, Germany Seed, Series A, Pre-Seed Software, SaaS, Information Technology $40k–$10M
Betwixt Ventures
VC Fund
2 Portugal, United States Seed Drones, Energy, Mobile $112k–$2.7M
DCVC
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Artificial Intelligence, Machine Learning $1M–$130M
Faber
VC Fund
1 Portugal, Germany, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $121k–$25M
Yellowstone Holding
VC Fund
1 Switzerland, Taiwan, Germany Series A, Series B, Seed Medical, Health Care, Biotechnology $2.7M–$16M
Norrsken Evolve
VC Fund
1 Germany, United Kingdom, Spain Pre-Seed Software, Artificial Intelligence, CleanTech $250k–$4.1M
Hiero
VC Fund
1 Portugal Pre-Seed Software, Compliance, Marketplace
Buenavista Equity Partners
VC Fund
1 Spain, Portugal, Japan Debt Financing, Private Equity, Seed Biotechnology, Health Care, Restaurants $2M–$75M
Bynd Venture Capital
VC Fund
1 Portugal, Spain, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Artificial Intelligence $507k–$50M
Leonardo Drummond
Angel
1 Portugal Seed Manufacturing
Lightspeed Venture Partners
VC Fund
1 United States, India, Israel Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $2M–$125M
Insight Ventures
VC Fund
1 Portugal, South Korea, United States Seed, Pre-Seed, Series B Manufacturing, B2B, Energy $768k–$33M
Inveready
VC Fund
1 Spain, United States, France Seed, Venture - Series Unknown, Debt Financing Software, Biotechnology, Health Care $400k–$6.5M
Explorer Investments
VC Fund
1 Portugal, Spain, Brazil Private Equity, Seed, Venture - Series Unknown Manufacturing, Information Technology, Retail $1.7M–$21M
Claster Investments
VC Fund
1 Portugal Pre-Seed 3D Printing, Real Estate, Construction
Oxy Capital
VC Fund
1 Portugal, Spain, United States Private Equity, Seed, Series A Health Care, Fitness, Software $8.6M–$12M
Growth Partners Capital
VC Fund
1 Spain, Portugal, United Kingdom Private Equity Drones, Software, Logistics
Build Collective
VC Fund
1 United States, Spain, France Series A, Series C, Series B Artificial Intelligence, Sensor, Hardware $20M–$70M
Bombyx Capital Partners
VC Fund
1 United Kingdom, United States Series A, Series B Fashion, Sensor, Hardware $11M–$25M
C2 Capital Partners
VC Fund
1 Portugal, United States Seed, Private Equity Food Processing, Food and Beverage, SaaS
FundBox
VC Fund
1 Portugal Seed, Pre-Seed Software, Aerospace, Health Care $189k–$3.1M
H&M Group Ventures
VC Fund
1 Sweden, United States, United Kingdom Series A, Venture - Series Unknown E-Commerce, Fashion, Textiles $582k–$45M
Shilling VC
VC Fund
1 Portugal, Spain, United States Seed, Pre-Seed, Series A Information Technology, Software, Artificial Intelligence $125k–$20M
Novabase Capital
VC Fund
1 Portugal, United States Seed, Pre-Seed Software, Information Technology, Analytics $576k–$3M
Beta Capital
VC Fund
1 Portugal, Spain, Brazil Seed, Venture - Series Unknown Software, Biotechnology, Health Care $476k–$3.1M
Ex Capital
VC Fund
1 United States, India, Portugal Pre-Seed, Series A, Seed Artificial Intelligence, Pet, SaaS $1M–$25M
H&M Group
VC Fund
1 United States Series A Sensor, Hardware, Textiles
Pascal Levy-Garboua
Angel
1 United States, Morocco, Portugal Seed, Pre-Seed, Angel FinTech, Financial Services, Marketplace $125k–$7.2M
Golden Egg Check Capital
VC Fund
1 The Netherlands, Germany, Canada Seed, Pre-Seed, Series A Software, Information Technology, Artificial Intelligence $537k–$5.1M
PINK LAND
VC Fund
1 Portugal Pre-Seed Industrial, Biotechnology
Iberis Capital
VC Fund
1 Portugal, United States, Spain Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $107k–$23M
August One
VC Fund
1 Singapore, United States, Portugal Seed, Series A Software, SaaS, Analytics $450k–$12M
200M
VC Fund
1 Portugal, Brazil, France Seed, Series A Health Care, Artificial Intelligence, Apps $2.7M–$6.5M
Michele Attisani
Angel
1 United Kingdom, United States, Italy Seed, Angel, Pre-Seed Financial Services, Artificial Intelligence, FinTech $261k–$6M
Techstars Autonomous Technology
VC Fund
1 United States, Portugal Seed, Pre-Seed Electronics, Nanotechnology, Advanced Materials $120k–$120k
Cornerstone VC
VC Fund
1 United Kingdom, Portugal, United States Seed, Pre-Seed, Series A Software, Artificial Intelligence, Apps $1.5M–$25M
Access all 68 investors in Portugal Manufacturing startups.

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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Portugal Ventures
VC Fund · Porto, Lisboa, Portugal · 24 investments in Portugal Manufacturing startups

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

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Portugal, United States, United Kingdom

Investor stats

  • Total investments: 386
  • Round size: Seed $121k–$1.9M; Pre-Seed $107k–$796k; Venture - Series Unknown $121k–$3.6M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Aptoide — Find, discover and download the best apps and games for Android in the official Aptoide app store
  • Unlockit — Unlockit will offer to public and governmental bodies the guarantee that everything within a real estate transaction is recorded, meaning better industry regulation, more taxes and public fees collected, and less overall fraud and money laundering activities.
  • Outgoing — A ticketing tool that allows organizers to sell tickets directly on WhatsApp and Instagram. Users can purchase tickets through a personalized checkout process entirely within the chat, without registration or redirects. It also offers customer support that answers questions in real time.
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Momenta Ventures
VC Fund · Engelberg, Obwalden, Switzerland · 5 investments in Portugal Manufacturing startups

Momenta is the leading Industrial Impact® venture capital firm, accelerating industrial innovators across energy, manufacturing, smart spaces, and the supply chain. For over a decade, our team of deep industry operators has helped scale industry leaders and innovators to improve critical industries, the environment, and people's quality oflife. PitchBook has ranked Momenta as one of the ten best-performing venture capital firms for 2023 in its prestigious Global Manager Performance Score League Tables, and the firm is the only European-headquartered VC to secure a Top 10 spot on the list.

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Investment focus

  • Industry: Software, Artificial Intelligence, Industrial Automation
  • Stage:Seed, Series A, Series B
  • Geography: United States, Switzerland, Canada

Investor stats

  • Total investments: 111
  • Round size: Seed $1M–$5.7M; Series A $2.5M–$23M; Series B $20M–$60M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely still investing — raised $100M in 2023

Portfolio highlights

  • AKUA — AKUA is a subscription data service delivering actionable, real-time, and secure business intelligence directly to cargo owners. Their flexible IoT platform provides persistent environmental monitoring and tracking solutions for intermodal cargo containers with no new equipment to buy or manage. AKUA IoT gateway devices, sensors, and devicelogistics are included in the subscription, and any existing IoT sensors can also be integrated into the system. AKUA combines the industry's most advanced tracking devices, tamper-resistant and tamper-evident multi-layer security, and in-transit analytics into a seamless cloud-based solution.
  • DataHow — DataHow is specialized in data analytics and bioprocess modeling
  • Phantasma Labs — That Unlocks Hidden Capacity, Boosts EBITDA, and Delivers ROI in 6 Months
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Caixa Capital
VC Fund · Lisboa, Lisboa, Portugal · 5 investments in Portugal Manufacturing startups

Caixa Capital is the Private Equity and Venture Capital arm of banking Group Caixa Geral de Depósitos and has a track record spanning over two decades of activity, since the industry was created in Portugal. It is a leading investor in terms of funds under management, portfolio size and diversity.Caixa Capital´s mission is to invest in fundsand companies, led by highly qualified management teams, with high growth and valuation potential, that enable our funds to achieve an attractive risk adjusted return and for society at large to benefit sustainably from our activity.Currently with more than 700 million Euros under management and a portfolio of over 80 investments, Caixa Capital is a reference in this area with special links to the respective European sector associations.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Portugal, United States, Spain

Investor stats

  • Total investments: 90
  • Round size: Seed $111k–$3M; Pre-Seed $108k–$1.7M; Series A $3M–$12M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Growappy — Growappy is an EdTech that offers an all-in-one platform for early education that is leading a vision to unlock personalized education since nursery with the power of AI, while providing a revolutionary communication experience between schools and families and drastically simplifying bureaucracy for teachers and school owners.
  • Noxus — At Spot, we're crafting the operating system for tomorrow's workforce, harnessing AI to streamline influencer marketing. Our platform empowers agencies, businesses, and content creators to collaborate effectively and reach audiences with ease.
  • Infraspeak — Infraspeak is an Intelligent CMMS Software that brings outstanding flexibility, connectivity and intelligence to your operations.
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Armilar Venture Partners
VC Fund · Lisboa, Lisboa, Portugal · 5 investments in Portugal Manufacturing startups

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

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A
  • Geography: Portugal, United States, United Kingdom

Investor stats

  • Total investments: 118
  • Round size: Seed $520k–$3.9M; Series A $4M–$17M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely actively investing — fresh fund, raised $138M in 2025

Portfolio highlights

  • Neuraspace — Focus on fewer alerts with more time to manoeuver, with a scalable AI/ML solution from Neuraspace
  • Usawa Care — Usawa is a free digital pediatrician clinic in Portugal. Talk to pediatricians via WhatsApp and get guidance for your child's health.
  • DOJO AI — The only tool you need to grow your Brand.
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Olisipo Way
VC Fund · Lisbon, Lisboa, Portugal · 4 investments in Portugal Manufacturing startups

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

  • Industry: Software, Information Technology, Analytics
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Portugal, Germany, Lithuania

Investor stats

  • Total investments: 44
  • Round size: Seed $250k–$5.3M; Pre-Seed $118k–$1.5M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • DoJob.ai — Hybrid Intelligence Innovation Project
  • OSCAR — OSCAR offers a variety of fixed-price home services, including maintenance, cleaning, laundry, and beauty services, all accessible through a user-friendly app. Customers can easily schedule appointments for these services, with options available for immediate bookings. Additionally, OSCAR provides repair services for household appliances likewashing machines and boilers, ensuring convenience for users. The platform streamlines the process of finding and scheduling necessary home services, catering to the needs of busy individuals and families. Through its comprehensive service offerings, OSCAR simplifies home management for its users.
  • Fluxe Insurance Software — FLUXE develops AI software based to build digital tools for claim automation aligned with the challenges of the insurance industry!
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EDP Ventures
VC Fund · Lisbon, Lisboa, Portugal · 4 investments in Portugal Manufacturing startups

EDP Ventures is the venture capital arm of EDP. We invest in early-stage startups working in the energy space

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Investment focus

  • Industry: Software, Energy, Information Technology
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: United States, Portugal, Brazil

Investor stats

  • Total investments: 85
  • Round size: Seed $530k–$4.5M; Series A $1.7M–$14M; Venture - Series Unknown $558k–$11M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $8M in 2018

Portfolio highlights

  • Mixergy — Our hot water solutions help homes, buildings, and utilities transition to a cleaner, more resilient future.
  • Spotlite — Spotlite combines satellite data with AI to predict infrastructure risks before they become problems.
  • Delfos Energy — Why did it Fail? Avoid unexpected failures across your assetsReduce the risk of unexpected failuresmoreOptimize Maintenance Windowsmoreretain and scale up operational knowledgemoreplatform real time monitoring, analysis and predictions for renewable energy and oil&gas assetsVIEW OUR APPLICATIONS customer and partnerssee what our customers say about our solutions TestimonialsYour failure prediction alarm, helped us avoid an
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BlueCrow Capital
VC Fund · Lisboa, Lisboa, Portugal · 3 investments in Portugal Manufacturing startups

BlueCrow Capital is a venture capital firm.

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Investment focus

  • Industry: Information Technology, Manufacturing, SaaS
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Portugal, United Kingdom, Spain

Investor stats

  • Total investments: 32
  • Round size: Seed $697k–$10M; Series A $6.5M–$16M; Venture - Series Unknown $3M–$18M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Bighub — The All-in-One Platform for european marketplace growth. Integration, Catalog SEO, Pricing, Financing, Logistics, Helpdesk, and Resale.
  • Flowbotic — development and manufacturing of AGVs and AMRs
  • Bling Energy — Bling Energy is a startup that focuses on providing more efficient and sustainable energy solutions, mostly through solar panels.
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HCapital Partners
VC Fund · Lisbon, Lisboa, Portugal · 3 investments in Portugal Manufacturing startups

We are an independent private equity firm, investing in a broad spectrum of companies through dedicated funds.

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Investment focus

  • Industry: Software, Power Grid, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Portugal, Italy, Spain

Investor stats

  • Total investments: 21
  • Round size: Seed $1.2M–$4.8M; Series A $5.2M–$9.5M; Venture - Series Unknown $1.1M–$15M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Reefilla — Reefilla EV charging services: recharge your car anywhere, anytime
  • Automaise — AI Agents that automate, assist, and accelerate customer service operations. See how Automaise helps enterprise teams resolve more, escalate less, and deliver results within weeks.
  • Dingoo — Dingoo is an e-commerce company that uses AI to deliver retail groceries to consumers on same day without any restrictions.
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REDangels
VC Fund · Aveiro, Aveiro, Portugal · 3 investments in Portugal Manufacturing startups

They believe the unbelievable and trust the untrustable.

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Investment focus

  • Industry: Information Technology, Mobile, Machine Learning
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Portugal, United States, Poland

Investor stats

  • Total investments: 28
  • Round size: Seed $110k–$1.6M; Angel $53k–$199k; Pre-Seed $11k–$57k
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Wall-i — Wall-i is a programmatic outdoor advertising network, that displays ads on screens for segmented audiences, by age, gender, location, and market. Wall-i aims to be the Google Ads of the outdoor advertising. By combining plug-and-play screen incorporation and audience recognition technology (age, gender and mood), with a CPV /CPM businessmodel, it enables real-estate owners to monetize LCD screens and tablets with ads.
  • Musiversal — Record your music in real time with world-class session musicians, vocalists, producers and audio engineers
  • UpLink — Tellent Recruitee helps you hire faster, work better together, and win top talent without the bottleneck; powered by AI-driven features.
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Indico Capital Partners
VC Fund · Lisbon, Lisboa, Portugal · 2 investments in Portugal Manufacturing startups, 8 in the past 12 months

Indico Capital Partners is the leading independent Venture Capital firm in Portugal investing in global technology companies. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Seed to Series A level. Founded in 2017, the team at Indico werepreviously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs.Headed by the two most senior former Caixa Capital VC Team members, supported by a successful and experienced entrepreneur and a strong group of advisors, top entrepreneurs, they raised our first fund (authorized by the Portuguese Securities Market Commission - CMVM) from a cornerstone institutional investor (EIF) and international family/multi-family offices from Europe, US, and Australia. In addition to Silicon Valley, London, and Berlin, cities like Lisbon have emerging startup ecosystems. Portugal went through a difficult macro environment years ago which led to a growth in the entrepreneurship culture and investment. We have excellent tech graduates and a global mindset.Highly innovative companies like luxury eCommerce platform Farfetch, YC graduate machine learning translation platform Unbabel or the leading student accommodation marketplace Uniplaces have a strong Portuguese DNA and went to raise international rounds in the UK and the US - we want to back the next success stories of the ecosystem.

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Investment focus

  • Industry: Information Technology, E-Commerce, B2B
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Portugal, United States, Spain

Investor stats

  • Total investments: 43
  • Lead/follow: no public data

Portfolio highlights

  • FRVR — FRVR brings captivating games to billions of players instantly.
  • Indie Campers — Indie Campers offers adventurers the opportunity to start their journey in one location and end it in any of our other depots, while delivering an outstanding customer service for a unique and unforgettable experience.
  • Oceano Fresco — Oceano Fresco develops and produces bivalves varieties with superior performance for shellfish farmers at a competitive cost, respecting environmental sustainability and ensuring consumer safety.They use a multi-disciplinary approach including expertise in molecular biology, genetics, animal physiology, computational biology and intellectualproperty to select value adding traits to shellfish farmers and contribute to the sustainability and profitability of the aquaculture industry.They work with hatcheries, nurseries and research centers in order to test and validate their solutions and ensure that they suit the specific needs of each customer, in each technical and environmental context.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Join Capital
VC Fund · Berlin, Berlin, Germany · 2 investments in Portugal Manufacturing startups

JOIN Capital is an early stage VC focused on Seed and Series A investments in Industry 4.0 and enterprise tech. Our portfolio companies are front and center at factories, delivering smart machinery and robotics for high-volume manufacturing. They’re behind the scenes with powerful algorithms for managing global production systems. They rethink andrewire essential processes, with the goal of maximizing human capabilities. We invest in technologies related to core business functions: operations, manufacturing, data analytics, supply chain and software development. We seek innovative solutions to real customer problems that have achieved product-market fit. Technologies we invest in include: machine learning, robotics, cloud computing, IoT, smart sensors.

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Investment focus

  • Industry: Software, Artificial Intelligence, Manufacturing
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Germany, United Kingdom, The Netherlands

Investor stats

  • Total investments: 56
  • Round size: Seed $1.1M–$9.5M; Series A $5.1M–$27M; Venture - Series Unknown $2M–$19M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • TERASi — Scalable hardware for 6G and beyond.
  • enclaive — Experience the strength of confidential cloud computing with Enclaive.io. Elevate your company's security and performance in the most fortified cloud ecosystem. Unlock unparalleled confidentiality with our secure compute environments.
  • HyImpulse Technologies — HyImpulse develops dedicated sub-orbital and orbital launch services using hybrid propulsion-based launch vehicles. Their SR75 is a single stage sounding rocket using a hybrid rocket engine to deliver institutional and commercial experiments into a micro gravity environment during a suborbital flight.
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Notion Capital
VC Fund · London, England, United Kingdom · 2 investments in Portugal Manufacturing startups

Notion Capital is a VC firm focused on European SaaS and Cloud.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: United Kingdom, United States, Germany

Investor stats

  • Total investments: 291
  • Round size: Seed $1.1M–$8.1M; Series A $4.5M–$28M; Series B $7M–$66M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely actively investing — fresh fund, raised $130M in 2025

Portfolio highlights

  • Volo Commerce — Volo brings together data and intelligence from all over the commerce ecosystem and uses AI to provide real-time actionable insights.
  • FSH Technologies (formerly Contenda) — Contenda helps repurpose old content into a new engagement. It contextually identifies content's key topics and spins it into the proper format for an audience to discover.
  • Endra — Endra is a purpose-built platform for modern MEP engineering. Generate 3D models and drawings, sync with Revit and enjoy coordinated design workflows.
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Spider Capital
VC Fund · San Francisco, California, United States · 2 investments in Portugal Manufacturing startups, 6 in the past 12 months

Spider Capital is a seed-stage enterprise venture capital focused on the digital transformation of industry.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, Israel

Investor stats

  • Total investments: 88
  • Round size: Seed $1.5M–$7M; Series A $7M–$19M; Series B $5.2M–$45M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Arintra — Arintra is an AI-powered autonomous coding technology that delivers significant efficiency and accelerates your revenue cycle business performance.
  • Soteris — Soteris provides artificial intelligence-based pricing tools to the insurance business. The company is working hard to transform the entire insurance value chain and would like to keep you updated on developments.
  • Sylvan Labs — Sylvan Labs is a software company that turns post-sales data into actionable growth opportunities for B2B teams.
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GED Ventures Portugal
VC Fund · Lisboa, Lisboa, Portugal · 2 investments in Portugal Manufacturing startups

GED Ventures Portugal is an Investment firm.

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Portugal, France, Germany

Investor stats

  • Total investments: 17
  • Round size: Seed $1.5M–$3.3M; Venture - Series Unknown $12M–$38M
  • Lead/follow: 65% lead, 35% follow

Portfolio highlights

  • Rofim — Rofim provides a multidisciplinary platform that combines practitioners' knowledge, technology for analyses, and medical imaging to provide a diagnosis. In order to share knowledge and provide the most accurate and timely diagnosis possible, Rofim concentrates on all the functionalities created for fluid medical use. The company is dedicatedto making the daily lives of physicians, patients, and medical institutions easier, more moral, and more seamless.
  • Hoopers — Global basketball community platform connecting players, fans and enthusiasts through products, contents, experiences and NFTs.
  • Hope Care Health — Hope Care is a digital health company that combines services, products, and cutting-edge technology platforms to enable the delivery of Social and Health Care without barriers.
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Innovation Nest
VC Fund · Kraków, Malopolskie, Poland · 2 investments in Portugal Manufacturing startups

Innovation Nest invest in early stage B2B SaaS startups from Europe and help them grow from local to global using our network of contacts and strong in-house competencies. It strongly believes that the path to growth leads through Silicon Valley and strongly encourage our portfolio startups to set up presence there. The company supports high-techcompanies to grow faster and scale their business globally.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Poland, United States, Germany

Investor stats

  • Total investments: 90
  • Round size: Seed $40k–$3.2M; Pre-Seed $100k–$776k; Series A $4.5M–$10M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: May invest from a new fund soon — raised $13M in 2011

Portfolio highlights

  • Infraspeak — Infraspeak is an Intelligent CMMS Software that brings outstanding flexibility, connectivity and intelligence to your operations.
  • AI Clearing — AI-powered platform for construction progress tracking and quality control, supporting contractors and asset owners in energy, utilities, infrastructure, and civil construction projects.
  • Meisterwerk — Meisterwerk provides a SaaS operating system for SMB field service and craftsman companies. They offer services that include operational planning, mobile time tracking, digital forms, information exchange, and their own workflows. Meisterwerk helps to communicate between the office and the workforce.
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Betwixt Ventures
VC Fund · Porto, Lisboa, Portugal · 2 investments in Portugal Manufacturing startups

Betwixt Ventures focuses on bringing together startups with Venture Capital Investors.By raising a pledge fund exclusively targeting investments on early stage startups with high potential, Betwixt Ventures proposes to add value through the following main activities:• Origination, screening, negotiation of deal terms, and monitoring of vettedstartups• Startup follow up, mentoring, consulting and value creation• Attraction of venture capital funds and placement of further investment rounds• Attraction of exit opportunities and facilitation of exit processStarting its capital raise in October 2015, the pledge fund will exclusively target investments on early stage startups typically based out of Portugal. At a second stage, it intends to invest also in Spanish and Italian startups. While no particular industry will be ruled out from the investment scope, the pledge fund will tend to focus on the broad technology and energy sectors. As a pre-requisite, it will either invest in startups previously vetted by other Business Angels, or co-invest in them with other seed or venture capital funds as partners. The focus of the pledge fund will be to invest in the gap between seed and series A rounds. Upon the investment at this stage, Betwixt Ventures will seek to attract further institutional investment rounds, internationally.On top of the pledge fund management, Betwixt Ventures will also offer both financial and general advisory services to startups. The former include either the attraction of venture capital funds for placement of further investment rounds, or the attraction of strategic buyers for potential M&A transactions, mainly in the US market. The later encompass 360 degrees consulting to startups, from marketing & sales, to business development and management.

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Investment focus

  • Industry: Drones, Energy, Mobile
  • Stage:Seed
  • Geography: Portugal, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $112k–$2.7M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • LOQR — Increase your business and reduce costs with the best AI-Powered Journey-as-a-Service provider for financial institutions.
  • BladeInsight — BladeInsight offers innovative solutions for wind turbine blade operations and maintenance.
  • James — James is an online credit risk management platform that provides risk management tools to financial institutions. Through the application of advanced scientific computing capabilities like machine learning, it enables risk departments to prepare against cyclical crisis and help protect their reputation, making the global financial system safer inthe long run.James was established in 2013 and is based in New York.
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DCVC
VC Fund · San Francisco, California, United States · 2 investments in Portugal Manufacturing startups

We are deep tech venture capital.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 514
  • Round size: Seed $1M–$9.1M; Series A $6M–$42M; Series B $15M–$130M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely actively investing — fresh fund, raised $5M in 2026

Portfolio highlights

  • Soteris — Soteris provides artificial intelligence-based pricing tools to the insurance business. The company is working hard to transform the entire insurance value chain and would like to keep you updated on developments.
  • CH4 Global — CH4 Global is an aquaculture solutions provider dedicated to urgently impacting climate change at scale. Lead by a world-class team of senior business builders, scientists and entrepreneurs, the company is initially leveraging proven science and technology for growing seaweed into innovative new livestock supplement that reduces methane produced bycows by up to 90%. Among early investors are a select group of prominent family offices and private investors. CH4 Global have also received non-dilutive capital support from government organizations from around the world. CH4 Global is a Delaware corporation based in Henderson, NV.
  • Rainmaker Technology — Rainmaker uses drone-based cloud seeding to increase rainfall, restore ecosystems, and fight drought. Learn how our scalable weather technology brings water to the West.
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Faber
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups, 7 in the past 12 months

Faber is a Lisbon-based venture capital firm investing in outstanding entrepreneurs who innovate at the intersection of science and technology to drive digital transformation and climate action. The firm combines a specialist focus on deep tech early-stage startups with dedicated funds, investment teams and expert advisors to actively helpfounders build global companies powered by AI/Data, Web3 or Ocean/Climate technologies.Faber’s unique approach in Southern Europe is led by an entrepreneurial management partnership and backed by notable thesis-driven institutions and private investors. Investing since 2013, the firm has been an early investor in hard tech companies such as Unbabel, SWORD Health, Codacy, iLoF or YData.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, Germany, United Kingdom

Investor stats

  • Total investments: 100
  • Round size: Seed $595k–$5.2M; Pre-Seed $121k–$3M; Series A $2.5M–$25M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely actively investing — fresh fund, raised $34M in 2024

Portfolio highlights

  • Porelio — Porelio is an environmental technology that provides purification technologies for water and industrial chemicals.
  • Helix Robotics — We are building the first commercial soft manipulator
  • ATMOS Space Cargo — ATMOS Space Cargo develops and manufactures space capsules to return cargo from space, microgravity experiments, Commercial products to entire rocket stages.
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Yellowstone Holding
VC Fund · Versoix, Geneve, Switzerland · 1 investments in Portugal Manufacturing startups

Yellowstone Holding promoting new innovative products or technologies from Switzerland to the Asia market via our strong connections.

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Investment focus

  • Industry: Medical, Health Care, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: Switzerland, Taiwan, Germany

Investor stats

  • Total investments: 8
  • Round size: Series A $2.7M–$16M; Series B $4M–$11M
  • Lead/follow: 63% lead, 37% follow

Portfolio highlights

  • NU-RISE — NU-RISE LDA helping doctors provide better cancer treatment. They have developed a probe that goes inside the body. This probe will monitor, in real-time, the level of radiation the patient is receiving. The Doctor can target the cancer but avoid the healthy organs. Better, safer and more accurate radiation - it's an evolution for cancertreatment.
  • CryoTherapeutics — CryoTherapeutics is focusing on the development, demonstration of clinical benefit, and early-stage commercialization of a proprietary cryotherapy system for use in the treatment of coronary artery disease that causes heart attacks. The safety and efficacy of cryoenergy in the cardiovascular system has been demonstrated and CryoTherapeutics intendsto extend the benefits of cryoenergy to the problem of diseased coronary arteries.
  • ZuriMED Technologies AG — ZuriMED is an innovative team specialized in orthopedic biomechanics and biomaterials.They originated in and are currently based at the Laboratory for Orthopedic Biomechanics at the University Hospital Balgrist – one of the leading Orthopedic clinics in Switzerland.The ZuriMED team has been inventing and developing orthopedic implants since2009. They have developed, rigorously tested, and patented three fully featured devices (BTB Conversion Kit™, EndoCLIP™, ZuriACL™).
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Norrsken Evolve
VC Fund · 1 investments in Portugal Manufacturing startups

Norrsken Evolve is a pre-seed fund that supports the founders who are creating the future of Europe by offering funding,a top-notch in-person sprint, and an exceptional network.

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Investment focus

  • Industry: Software, Artificial Intelligence, CleanTech
  • Stage:Pre-Seed
  • Geography: Germany, United Kingdom, Spain

Investor stats

  • Total investments: 14
  • Round size: Pre-Seed $250k–$4.1M
  • Lead/follow: 79% lead, 21% follow

Portfolio highlights

  • NobodyWho — NobodyWho is a Copenhagen-based software startup specializing in AI inference engines for running large language models (LLMs) locally and efficiently on any device.
  • FION Energy — FION Energy GmbH is a Berlin-based company at the forefront of the clean energy transition, specializing in advanced energy storage and management solutions for industrial businesses. Their technology helps companies optimize energy use, reduce costs, enhance grid stability, and accelerate decarbonization by providing economically viable storagesystems tailored to each customer's needs. FION supports grid operators by enabling efficient orchestration of energy consumption and generation, contributing to a more stable and sustainable energy future. They offer personalized consulting, rapid installation, and continuous optimization of energy storage performance to maximize cost savings and flexibility.
  • Bubble Robotics — Building the ocean's autonomous workforce, powering infrastructure, ecosystems & resilience.
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Hiero
VC Fund · New York, New York, United States · 1 investments in Portugal Manufacturing startups

Hiero is a holding company that has developed, invested in, and contributed to dozens of early-stage ventures.

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Investment focus

  • Industry: Software, Compliance, Marketplace
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Checkfirst — Create AI-powered inspection workflows that collect and verify on-site data, effortlessly.
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Buenavista Equity Partners
VC Fund · Madrid, Madrid, Spain · 1 investments in Portugal Manufacturing startups

GED is an independent Private Equity group operating in the Iberian Peninsula and South-Eastern Europe. The company was incorporated in 1996 and GED’s professional Partners hold a majority stake in the Management Companies of the Group.GED is positioned in the middle market, managing funds in excess of €300M through 4 different Private Equityvehicles and operates in two different private equity sectors; private equity and private equity-real estate.GED Private Equity is looking at buyouts and expansion deals maximizing the portfolio value through a clear buy and build strategy in the core countries: Romania, Bulgaria, Spain and Portugal, backing medium size companies that can become regional market leaders.GED Opportunity targets opportunistic and value added real estate investments in South Eastern Europe.GED has a strong track record in Eastern Europe and the Iberian Peninsula, achieved it during its 19 years activity in the region through offices in Madrid, Seville, Bucharest, Sofia and Oporto.

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Investment focus

  • Industry: Biotechnology, Health Care, Restaurants
  • Stage:Debt Financing, Private Equity, Seed
  • Geography: Spain, Portugal, Japan

Investor stats

  • Total investments: 24
  • Round size: Seed $2M–$4.2M; Debt Financing $17M–$75M; Private Equity $6.4M–$7.7M
  • Lead/follow: 63% lead, 37% follow
  • Last fund: Likely actively investing — fresh fund, raised $106M in 2024

Portfolio highlights

  • Highlight Therapeutics — Highlight Therapeutics is a private, clinical-stage company dedicated to unlocking the full potential of immuno-oncology.
  • Atir Hospitality — Atir Hospitality is a premier investor and operator in Spain's hospitality sector. Our offerings encompass all-included solutions.
  • New Capital Aparcamiento Torrecárdenas — New Capital Aparcamiento Torrecárdenas operates as a special purpose concessionaire focused on public-private infrastructure development and facility management. The company's core business model centers on executing long-term administrative concessions for the construction, structural maintenance, and commercial optimization of large-scaleparking assets. Its value proposition is built around providing modern, high-capacity, and sustainable vehicle parking solutions adjacent to high-traffic public complexes.
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Bynd Venture Capital
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups, 7 in the past 12 months

Bynd is a leading Iberian Venture Capital firm

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Investment focus

  • Industry: Software, SaaS, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, Spain, United Kingdom

Investor stats

  • Total investments: 77
  • Round size: Seed $507k–$5.1M; Pre-Seed $552k–$2.1M; Series A $2.3M–$50M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: Likely actively investing — fresh fund, raised $43M in 2024

Portfolio highlights

  • Tenoro — Tenoro is an AI-powered company that provides supply chain, warehouse, and automation services.
  • Trebellar — Trebellar provides advanced data analytics for building occupancy, energy efficiency, and climate optimization. Maximize your workplace productivity with our intelligent building solutions.
  • Wio Capital — Wio Capital is a wealthtech company that builds an AI-powered wealth management platform for financial advisors, offices, and bankers.
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Leonardo Drummond
Angel · 1 investments in Portugal Manufacturing startups

CEO @ Kuba CEO @ Drummond & Vieira

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Investment focus

  • Industry: Manufacturing
  • Stage:Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Drummond & Vieira — Drummond and Vieira provides products for listening to music that include disco, disk lite, kuba pro, limited editions, cycle, kuba guide, and accessories. The company's contact mode is at its physical address.
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Lightspeed Venture Partners
VC Fund · Menlo Park, California, United States · 1 investments in Portugal Manufacturing startups

Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: United States, India, Israel

Investor stats

  • Total investments: 2426
  • Round size: Seed $2M–$26M; Series A $7M–$85M; Series B $15M–$125M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely actively investing — fresh fund, raised $600M in 2025

Portfolio highlights

  • Tennr — Tennr is a custom AI assistant that accelerates research, answers complex questions, and generates custom reports.
  • Whizzo — Whizzo specializes in materials science-driven manufacturing of engineered fashion and technical textiles. Our expertise lies in creating and executing innovative textile blends tailored for applications across automotive, agriculture, medical textiles, and engineered fashion.
  • ElevenLabs — Create lifelike speech with our AI voice generator and voice agents platform. Access 5,000+ voices in 70+ languages with secure APIs and SDKs.
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Insight Ventures
VC Fund · São Paulo, Sao Paulo, Brazil · 1 investments in Portugal Manufacturing startups

Insight Ventures build scalable business models that can be stand-alone or integrated into an already established company. Through agile construction methodologies, connections with startups, and extensive experience in building technology businesses, they have transformed traditional businesses into exponential companies.Since 2017, they havehelped companies of all sizes and sectors to build and scale innovative business models, generating exponential growth and changing the way they compete in the market.

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Investment focus

  • Industry: Manufacturing, B2B, Energy
  • Stage:Seed, Pre-Seed, Series B
  • Geography: Portugal, South Korea, United States

Investor stats

  • Total investments: 5
  • Round size: Seed $768k–$33M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Heaboo — Heaboo is a technological company focus on the R&D, manufacturing, and commercialization of a stand-alone and passive device capable to corrects the response time of the hot water supply in taps or shower mixers increasing the energy and water efficiency of the building. The company was founded in 2015 and is headquartered in Aveiro.
  • SocialTalk — SocialTalk helps discover the perfect influencers, manage influencers database, track and measure campaigns.
  • INEYE Pharma — INEYE Pharma engages in the development of polymer-based technologies for ocular applications. The company operates on a B2B strategy and caters to other pharmaceutical companies that operate in the ocular disease industry.
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Inveready
VC Fund · Barcelona, Catalonia, Spain · 1 investments in Portugal Manufacturing startups, 11 in the past 12 months

Inveready is a leading Spanish financial services firm focused on investment solutions and wealth management.

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Venture - Series Unknown, Debt Financing
  • Geography: Spain, United States, France

Investor stats

  • Total investments: 280
  • Round size: Seed $400k–$4.7M; Debt Financing $1.2M–$6.5M; Venture - Series Unknown $594k–$5.7M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $63M in 2024

Portfolio highlights

  • Mirai — Mirai offers solutions for balance sheet management, financial risk, and regulatory compliance.
  • Inventia Kinetics — Inventia Kinetics specializes in the design, analysis, and manufacture of equipment and assembly tools for electronics sector.
  • Connecta Therapeutics — Connecta Therapeutics is a biotechnology company that develops new treatments for unresolved medical needs of the central nervous system. It focuses on the development of a first-in-class drug for the treatment of fragile X syndrome.
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Explorer Investments
VC Fund · Lisboa, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Founded in 2003, Explorer is Portugals leading independent management company of alternative assets, with a reputation for outstanding quality, in-depth experience and an excellent track record.

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Investment focus

  • Industry: Manufacturing, Information Technology, Retail
  • Stage:Private Equity, Seed, Venture - Series Unknown
  • Geography: Portugal, Spain, Brazil

Investor stats

  • Total investments: 90
  • Round size: Seed $1.7M–$11M; Venture - Series Unknown $6.6M–$21M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: May invest from a new fund soon — raised $154M in 2018

Portfolio highlights

  • Luca — Luca's learning platform provides learning programs for primary and secondary school students. The learning platform offers pre-recorded K12 videos, gamified content and AI powered personalized study paths, covering the entire official academic curriculum and national exams prep. Luca is a VC backed startup with HQ in Madrid & MexicoCity
  • Neuraspace — Focus on fewer alerts with more time to manoeuver, with a scalable AI/ML solution from Neuraspace
  • Spotlite — Spotlite combines satellite data with AI to predict infrastructure risks before they become problems.
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Claster Investments
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Portugal Manufacturing startups

Please visit us at www.clastergroup.com. Thank you for your patience!

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Investment focus

  • Industry: 3D Printing, Real Estate, Construction
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Litehaus — Find investors for your real estate project and institutional buyers for buildings, hotels and development sites. Explore Scout and Land Reports in a personalised demo.
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Oxy Capital
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Oxy is the company the first Private Equity in Portugal to create a co-investment program at the company level.

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Investment focus

  • Industry: Health Care, Fitness, Software
  • Stage:Private Equity, Seed, Series A
  • Geography: Portugal, Spain, United States

Investor stats

  • Total investments: 13
  • Round size: Private Equity $8.6M–$12M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Feedzai — Stop financial crime before it happens. Feedzai's AI-powered platform detects and prevents fraud, money laundering, and other risks across all channels.
  • Usawa Care — Usawa is a free digital pediatrician clinic in Portugal. Talk to pediatricians via WhatsApp and get guidance for your child's health.
  • Sword Health — Sword delivers AI Care with clinical oversight to prevent pain, support recovery, and promote whole-body health. Trusted by employers and health plans.
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Growth Partners Capital
VC Fund · Cascais, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Growth Partners Capital is a truly Iberian investment firm that is managing multiple private equity funds. Our clear focus is private equity with the objective to maximize profitable growth of companies, while securing downsize protection. We are sector agnostic: our focus is to acquire companies with a proven business model, a strong group ofentrepreneurs, a moderate debt and a clear desire and strategy to accelerate profitable growth.

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Investment focus

  • Industry: Drones, Software, Logistics
  • Stage:Private Equity
  • Geography: Spain, Portugal, United Kingdom

Investor stats

  • Total investments: 10
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Freshlog — Freshlog is a logistics company that provides warehousing, cross-docking, computerized stock control, and cargo transportation services.
  • Campicarn — Campicarn produces and distributes meat products.
  • Wecorp Industries — Wecorp Industries has developed a disruptive and patented technology for drones used in security and defence environments.
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Build Collective
VC Fund · 1 investments in Portugal Manufacturing startups

Build Collective is an investment company.

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Investment focus

  • Industry: Artificial Intelligence, Sensor, Hardware
  • Stage:Series A, Series C, Series B
  • Geography: United States, Spain, France

Investor stats

  • Total investments: 5
  • Round size: Series A $25M–$50M; Series C $20M–$70M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Nabla — Nabla is the leading ambient AI assistant, reducing practitioner burn-out and improving patient care.
  • Quibim — Quibim builds AI tools that turn MRI, CT and PET data into actionable predictions for hospitals and biopharma. Trusted in 230+ centers worldwide.
  • Anello Photonics — Anello Photonics is a technology company developing a silicon photonic optical gyroscope to navigate, position, and motion track autonomous applications in challenging GPS-jammed and spoofed environments. The company's technology portfolio spans over 28 issued patents, and over 44 pending patents, and includes an AI-based sensor fusion engine.It serves the robotics, defense, construction, agriculture, and autonomous vehicles industries.
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Bombyx Capital Partners
VC Fund · 1 investments in Portugal Manufacturing startups

Bombyx Capital Partners is an investment firm.

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Investment focus

  • Industry: Fashion, Sensor, Hardware
  • Stage:Series A, Series B
  • Geography: United Kingdom, United States

Investor stats

  • Total investments: 3
  • Round size: Series A $11M–$25M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Reflaunt — Reflaunt empowers brands with the technology to embrace circular fashion. The allows brand's customers to put back on sale their past purchases without ever leaving the brand ecosystem rewards them with brand shopping credits
  • Colorifix — Colorifix is a biotechnology company that has pioneered the first entirely biological process to produce, deposit and fix pigments onto textiles. Using a synthetic biology approach, it offers a radically different solution to incumbent dyeing technologies that entirely cuts out the use of harsh chemistry and leads to huge reductions in waterconsumption. Colorifix’s investors include Cambridge Enterprise, H&M, Mills Fabrica, Primera Impact and Sagana, whose collective backing is funding its expansion. For more information, visit www.colorifix.com
  • Smartex.ai — Smartex provides 100% automated real-time inspection for Circular Knitting Machines. Identify defects as they happen, so that you can quickly address the issue & keep your production running.
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C2 Capital Partners
VC Fund · Causeway Bay, Hong Kong Island, Hong Kong · 1 investments in Portugal Manufacturing startups

C2 Capital Partners makes investments in early-stage companies.

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Investment focus

  • Industry: Food Processing, Food and Beverage, SaaS
  • Stage:Seed, Private Equity
  • Geography: Portugal, United States

Investor stats

  • Total investments: 2
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • BRAINR — BRAINR is an intuitive next gen cloud MES (Manufacturing Execution System) that enables smarter processes and integrated production operations in real-time.
  • Eat Just — Plant protein with clean ingredients. Better for the people & the planet.
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FundBox
VC Fund · Lisboa, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

FundBox is an alternative investment management company that provides accounting, cash management, and tax compliance services.

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Investment focus

  • Industry: Software, Aerospace, Health Care
  • Stage:Seed, Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 3
  • Round size: Seed $189k–$3.1M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • LoopOS — LoopOS is a comprehensive Circular Economy ERP system designed to optimize and streamline multiple processes including buybacks, returns, trade-ins, repairs, and consumer-to-consumer transactions. It focuses on providing tools to measure the impact of the activities.
  • Connected — Connected is a startup that offers affordable connecting humans, unleashing a new wave of IoT-based business models and contributing to bridge the digital gap.
  • Gripwise Tech — GRIPWISE is a revolutionary digital solution for muscular strength assessment, comprising a smart dynamometer, APPs and a Cloud Platform.
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H&M Group Ventures
VC Fund · Stockholm, Stockholms Lan, Sweden · 1 investments in Portugal Manufacturing startups

H&M Group Ventures is the venture capital arm of the H&M Group.

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Investment focus

  • Industry: E-Commerce, Fashion, Textiles
  • Stage:Series A, Venture - Series Unknown
  • Geography: Sweden, United States, United Kingdom

Investor stats

  • Total investments: 61
  • Round size: Series A $2.2M–$45M; Venture - Series Unknown $582k–$9M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • AltMat — AltMat is a textile manufacturing firm that produces clothing materials, including natural fibers and yarns from agricultural wastes.
  • Yaga — Yaga is an online selling and shopping platform for new and preloved fashion. Buy preloved clothing safely or open your own shop and sell. Find unique second hand clothes, earn extra money and help save the Planet.
  • Rubi Laboratories — Rubi Laboratories turns carbon emissions into carbon-negative textiles for the fashion industry, with a proprietary synthetic biology technology.
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Shilling VC
VC Fund · Lisboa, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Shilling is an early-stage venture capital firm backing exceptional founders from the start.Shilling invests in a wide range of verticals and seeks out the biggest opportunities across all B2B and consumer categories. Leveraging the concept of Founder LPs, Shilling brings much more than capital and offers through its Shilling Platform, directaccess to successful founders and executives of leading companies. This platform supports entrepreneurs in validating and developing their ventures, which then accelerate their growth into global markets.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, Spain, United States

Investor stats

  • Total investments: 119
  • Round size: Seed $274k–$5M; Pre-Seed $125k–$3M; Series A $5M–$20M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: Likely still investing — raised $49M in 2024

Portfolio highlights

  • Tucuvi — Tucuvi is a health technology company unlocking efficient and high-quality healthcare at scale with a CE-marked platform for Phone Consultation Automation. We develop safe and clinically validated Conversational AI for any care pathway, enabling clinical teams to augment their capacities, improve processes’ efficiency and efficacy, and achievebetter patient outcomes and satisfaction through continuous and personalized care.
  • Balance — Balance is a private digital health company based in Spain that operates in the clinics and outpatient healthcare services sector. company's core mission is to provide an integrated, medical, and sustainable approach to treating obesity and overweight conditions. Moving away from traditional restrictive diets, the company leverages asubscription-based telehealth model combined with clinical pharmacology.
  • Punto Health — AI-powered digital platform for management of Alzheimer's and other dementias.
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Novabase Capital
VC Fund · Lisboa, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Novabase Capital, Sociedade de Capital de Risco, SA is a venture capital firm owned entirely by Novabase SGPS, SA. Its main purpose is to find and support Portuguese ICT business projects – in early development or expanding – with high potential. Novabase Capital has an unique, specific expertise and a long track record in the development oftechnology-based SMEs throughout Portugal.

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Investment focus

  • Industry: Software, Information Technology, Analytics
  • Stage:Seed, Pre-Seed
  • Geography: Portugal, United States

Investor stats

  • Total investments: 7
  • Round size: Seed $576k–$3M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: May invest from a new fund soon — raised $15M in 2011

Portfolio highlights

  • WEEZIE — Connect network planning, construction, field work, physical inventory, splicing, validation, and maintenance in one operational platform built for fiber.
  • Glartek — Glartek is a technology-enabled services company focused on Industrial Internet of Things and Augmented reality solutions. With their experience in development solution for industry and their knowledge in field management, they are able to provide the best expertise in cloud analytics and augmented reality tools for the industry.
  • HypeLabs — HypeLabs is the company that created the Hype SDK, an interoperable mesh networking software that improves connectivity on all kinds of devices, from mobile to desktop to IoT, allowing them to connect even when there is no internet. The software works by intelligently connecting devices in local mesh networks using existing connectivitytechnologies, such as Bluetooth, WiFi, LoRa and others. This network enables content to securely hop between devices, until it reaches a destination or an Internet exit point, improving range and deliverability.Founded in 2016, the company is located in San Francisco (USA), Porto (Portugal), London (UK) and Krakow (Poland). AngelPad #10 (Spring '16) alumni & Deutsche Telekom WARP alumni.
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Beta Capital
VC Fund · Porto, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

We support innovative tech ventures to unlock its potential by providing smart funding and hands-on advisory.

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Venture - Series Unknown
  • Geography: Portugal, Spain, Brazil

Investor stats

  • Total investments: 17
  • Round size: Seed $476k–$3.1M
  • Lead/follow: 6% lead, 94% follow

Portfolio highlights

  • Zen8 — Explore Connected Swim Training at zwim.com. Smart Swim Trainer + data + immersive game = real swim power. Train at home, get faster in the water. Join the waitlist now.
  • Nutrium — Nutrium is the most up-to-date nutrition software for dietitians and nutritionists to manage their nutrition business with nutritional assessment, meal planning and progress tracking.
  • PFx Biotech — PFx Biotech transforms food through bioinnovation by creating sustainable and nutritional alternative protein solutions.
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Ex Capital
VC Fund · 1 investments in Portugal Manufacturing startups

We believe that equality multiplies.

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Investment focus

  • Industry: Artificial Intelligence, Pet, SaaS
  • Stage:Pre-Seed, Series A, Seed
  • Geography: United States, India, Portugal

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $1M–$1.5M; Series A $5M–$25M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Augusta Labs — Transforming businesses using AI.
  • Smartex.ai — Smartex provides 100% automated real-time inspection for Circular Knitting Machines. Identify defects as they happen, so that you can quickly address the issue & keep your production running.
  • Stance Health — Evidence-backed Orthopaedic Rehab in Bangalore. Medical science & technology tailored for your performance and recovery. ACL, knee, back, running, sports rehab.
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H&M Group
VC Fund · Stockholm, Stockholms Lan, Sweden · 1 investments in Portugal Manufacturing startups

We are a global family of brands and businesses. We make it possible for customers to express themselves through fashion and design in a sustainable way.

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Investment focus

  • Industry: Sensor, Hardware, Textiles
  • Stage:Series A
  • Geography: United States

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Smartex.ai — Smartex provides 100% automated real-time inspection for Circular Knitting Machines. Identify defects as they happen, so that you can quickly address the issue & keep your production running.
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Pascal Levy-Garboua
Angel · San Francisco, California, United States · 1 investments in Portugal Manufacturing startups

Pascal Levy-Garboua is an angel investor, founder, and operator. He is currently VP. Business Development at Checkr, where he joined as their first executive and Employee #9.Previously, he was CEO/Cofounder at SixDoors, Cofounder at VirtuOz (acquired by Nuance Communications) and VP Product at IQ Engines (Acquired by Yahoo). He started hiscareer at eBay in France.Pascal invested in 85+ Companies including Checkr, Wag, Womply, Origin, RealtyShares, and Caviar (Acquired by Square).

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Investment focus

  • Industry: FinTech, Financial Services, Marketplace
  • Stage:Seed, Pre-Seed, Angel
  • Geography: United States, Morocco, Portugal

Investor stats

  • Total investments: 30
  • Round size: Seed $1.2M–$6.3M; Pre-Seed $125k–$7.2M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Wave Sports + Entertainment — Wave Sports + Entertainment is a media company building brands, original content, talent, and products for the next generation of digital super fans.
  • Litehaus — Find investors for your real estate project and institutional buyers for buildings, hotels and development sites. Explore Scout and Land Reports in a personalised demo.
  • Base64 — Base64.ai is a document processing automation startup from New York. Our AI extracts the document type, data, text, photos, and signatures from all kinds of documents via over 700 prebuilt models for IDs, driver licenses, passports, visas, invoices, and forms. It can even process document types it has never seen before. The service may run in thecloud and air-gapped (offline) data centers. The integration is via no-code forms, a single API call, or third parties such as our UiPath activity and takes only a few minutes.
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Golden Egg Check Capital
VC Fund · Enschede, Overijssel, The Netherlands · 1 investments in Portugal Manufacturing startups

Het venture capital fonds van Golden Egg Check investeert samen met de beste angels en VCs in snelgroeiende techbedrijven.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: The Netherlands, Germany, Canada

Investor stats

  • Total investments: 39
  • Round size: Seed $1.1M–$5.1M; Pre-Seed $537k–$1.3M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: Likely still investing — raised $511k in 2022

Portfolio highlights

  • Orq.ai — Sovereign AI gateway for enterprise: one API for 500+ models, real-time guardrails, cost caps and audit trails. Built and run in the EU. Start free.
  • Peak Quantum — Peak Quantum focused on developing inherently error-protected superconducting quantum processors (QPUs).
  • Circle Health — Your partner for holistic health.
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PINK LAND
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Investment management

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Investment focus

  • Industry: Industrial, Biotechnology
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Silentvector — Biotechnology applied to agriculture. Research, development, innovation, and production of bioprotectants, biofertilizers, biostimulants, and nutrients of biological origin.
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Iberis Capital
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

Iberis is an investment manager that operates a value-oriented investment management.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Portugal, United States, Spain

Investor stats

  • Total investments: 63
  • Round size: Seed $1.2M–$4.6M; Pre-Seed $107k–$4.4M; Series A $5.3M–$23M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Tryp.com — Cheap trips and travel deals to destinations worldwide. Compare top offers, discover new places and grab the best price on your next getaway.
  • Reckon.ai — Whether you're building an unattended store or supplying the equipment behind it, Reckon's patented AI technology transforms existing infrastructure into smart, autonomous assets.
  • Jscrambler — Jscrambler is the leading client-side security solution for JavaScript in-app protection and real-time webpage monitoring. Start your free trial today!
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August One
VC Fund · Singapore, Central Region, Singapore · 1 investments in Portugal Manufacturing startups

August One is a private investment firm and a Monetary Authority of Singapore registered Venture Capital firm. Through its family office platform and investment funds, August One focuses on enabling exceptional people to make a significant impact on the way they live and work. The company is committed to preserving the legacies, serve theaspirations and out-serve the ambitions of families, investors, founders, and partners. Through its Investment Funds and Venture Building program, August One helps its portfolio companies grow their core businesses, launch new initiatives, enter new markets and build and use technologies to drive long term growth and impact.August One was founded in 2015 and is headquartered in Singapore.

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Investment focus

  • Industry: Software, SaaS, Analytics
  • Stage:Seed, Series A
  • Geography: Singapore, United States, Portugal

Investor stats

  • Total investments: 23
  • Round size: Seed $612k–$2.2M; Series A $450k–$12M
  • Lead/follow: 61% lead, 39% follow

Portfolio highlights

  • Glartek — Glartek is a technology-enabled services company focused on Industrial Internet of Things and Augmented reality solutions. With their experience in development solution for industry and their knowledge in field management, they are able to provide the best expertise in cloud analytics and augmented reality tools for the industry.
  • Blykalla — Blykalla is developing and building small modular reactors to deliver the next generation of clean energy. We take leading research to industrialization through our Swedish Advanced Lead Reactor (SEALER).
  • OurSupport — On-site and remote IT support for businesses. Smart hands, local technician dispatch, multi-site rollouts, and transparent pricing across global markets.
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200M
VC Fund · Porto, Lisboa, Portugal · 1 investments in Portugal Manufacturing startups

200M is a Portuguese public fund of 200 million euros designed to co-invest with the best VCs from around the world in startups which are growing their business out of Portugal.

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Investment focus

  • Industry: Health Care, Artificial Intelligence, Apps
  • Stage:Seed, Series A
  • Geography: Portugal, Brazil, France

Investor stats

  • Total investments: 8
  • Round size: Seed $2.7M–$6.5M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • 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.
  • Coverflex — Coverflex is a compensation management platform for teams to manage and enjoy multiple benefits. Coverflex is on a mission to improve the way companies compensate their people, making it more transparent, flexible, and easier for everyone to make the most of what they get. Through a fully digital solution, Coverflex helps companies manage everypart of compensation beyond salary — benefits, insurance, meal allowance, and exclusive discounts — while empowering people to spend on what suits them best.
  • Sound Particles — A CGI-like software for Sound Design, capable of using particle systems to generate thousands of sounds in a virtual 3D world
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Michele Attisani
Angel · London, England, United Kingdom · 1 investments in Portugal Manufacturing startups

Michele Attisani - General Partner @ Insiders Ventures

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Investment focus

  • Industry: Financial Services, Artificial Intelligence, FinTech
  • Stage:Seed, Angel, Pre-Seed
  • Geography: United Kingdom, United States, Italy

Investor stats

  • Total investments: 49
  • Round size: Seed $1.8M–$6M; Pre-Seed $261k–$1.8M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Ciridae — The AI Transformation Company. We build technology for those who build everything else.
  • TextYess — Increase your eCommerce Retention with a Frictionless Experience.
  • XO Market — XO Market is a decentralized finance platform that enables users to create, trade, and share prediction-based markets on future events using blockchain technology. The platform operates as a non-custodial interface, allowing participants to interact directly with smart contracts while retaining control of their own crypto assets. XO Marketfacilitates “conviction markets,” where users can establish and trade outcomes on various topics, with prices reflecting collective market sentiment. It uses an automated market maker model to provide liquidity and incorporates a hybrid system combining artificial intelligence and human input to resolve market outcomes. The platform supports permissionless market creation, enabling users to define events, set parameters, and participate in trading without centralized oversight.
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Techstars Autonomous Technology
VC Fund · 1 investments in Portugal Manufacturing startups

Investment focus

  • Industry: Electronics, Nanotechnology, Advanced Materials
  • Stage:Seed, Pre-Seed
  • Geography: United States, Portugal

Investor stats

  • Total investments: 4
  • Round size: Seed $120k–$120k
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Guardion — Making cities safer from nuclear threats. New nanomaterial based ion sensors for ionizing radiation detection.
  • OmniPreSense — OmniPreSense is developing Smart City traffic monitoring sensors to help make our cities safer. The sensors detect excessive speeding and are networked to provide real time alerts or traffic reports. This data is easily provided to authorities for speed calming or other corrective actions. We are currently in Beta site testing of our product. Wehave validation of the market as we have had customers who are engineers buying our base radar sensor and building their own traffic monitor. Now we're building a simple to use solution for everyone. Our product is like Ring, but instead of protecting your door we protect your neighborhood.OmniPreSense was founded on 2016 and is headquartered in San Jose, California.
  • GRAPHENEST — Graphenest is a nanotechnology company focused on high-value graphene-based solutions for advanced composites and functional coatings & inks markets.
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Cornerstone VC
VC Fund · London, England, United Kingdom · 1 investments in Portugal Manufacturing startups

Cornerstone VC operates as a venture capital firm.

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Investment focus

  • Industry: Software, Artificial Intelligence, Apps
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, Portugal, United States

Investor stats

  • Total investments: 17
  • Round size: Seed $1.5M–$4.3M; Pre-Seed $1.7M–$5M; Series A $7.4M–$25M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Capsa AI — Providing next-generation investors with a competitive edge.
  • Evaro — Add prescription healthcare to your platform in days, not years. Complete healthcare integration with regulatory compliance, clinical oversight, and fulfilment.
  • Smart Bricks — An applied AI lab building the intelligence layer for global real estate investing. Underwriting and portfolio decisions grounded in verified transactions.
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Manufacturing Investor funding in Portugal at a glance

Stats across 109 deals from 68 investors.

68
investors
in Portugal Manufacturing startups
109
deals
in Portugal Manufacturing startups
$230k
median round
in Portugal Manufacturing startups
53%
lead investors
lead at least one round
31%
Seed
most common funding stage
91/9
VC / Angel
share of investor count

Access all 68 investors in Portugal Manufacturing startups.

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