Top 10 Mobile Advertising Startup Investors in Portugal (October 2026)

We’re an early stage European venture capital firm partnering with globally minded founders. We’re supportive, founder focused, and aim to work together with you as a close and collaborative team of independent thinkers. Along with the support of our entire network, each member of our team brings their own personal experience to the table. The first ticket is up to 200K€ and the total investment in a given startup can be up to 1M€. We decide investments quickly, allowing the founders to get back focusing on growing the business. Our team and network of international mentors help young startups to scale quickly and to prepare for the next rounds. Our partners have been investing in tech-based startups since 2000 and have a portfolio of more than 100 companies in the USA, Brazil, The Netherlands, Spain and Portugal.

Investment focus

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

Investor stats

Total investments: 65
Round size: Seed $278k–$4.9M; Pre-Seed $12k–$417k; Series A $5.4M–$12M
Lead/follow: 23% lead, 77% follow
Last fund: May invest from a new fund soon — raised $17M in 2018

Portfolio highlights

Lyzer — The groceries marketplace where you can find everthing you need. Buy online groceries as fast as in 4 hours with personalized picking.
Musiversal — Record your music in real time with world-class session musicians, vocalists, producers and audio engineers
Primetag — Social intelligence platform for brands and agencies. Ask about creators, competitors and campaigns on Instagram, TikTok and YouTube. Answers in seconds.

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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, direct access 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.

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 — Help healthcare and care teams deliver personalised daily support, with cognitive insights and professional monitoring to inform ongoing care.

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Sérgio Oliveira

Investment focus

Industry: PaaS, Soccer, Sports
Stage:Series A
Geography: Portugal

Investor stats

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

Portfolio highlights

RealFevr — Collect moments with the most iconic video moments of your favourite football players.

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ADvantage Sports Tech Fund invests in early-stage technology companies aimed at shaping the future of sports. ADvantage is backed by leAD Sports, an initiative spearheaded by the grandchildren of Adi Dassler to further sports innovation, and global hybrid venture capital platform, OurCrowd. ADvantage is leveraging a strong global network to sourceleading opportunities in the spaces of fan engagement and experience, connected athletes and communities, and derivative sports (eSports, fantasy, and new sports).

Investment focus

Industry: Sports, eSports, Mobile Apps
Stage:Series A, Series B
Geography: United States, Israel, India

Investor stats

Total investments: 12
Round size: Series A $5M–$25M; Series B $10M–$15M
Lead/follow: 67% lead, 33% follow
Last fund: May invest from a new fund soon — raised $50M in 2018

Portfolio highlights

Ladder — Get stronger & workout more. Free 7 day trial, no credit card needed!
Greenfly — Greenfly's short-form media orchestration software platform captures, collects, organizes & distributes videos & photos to drive fan engagement and boost revenue for sports and entertainment organizations.
Recapp — The feed every fan deserves. Download Recapp now.

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We are a proprietary investment firm focused on digital assets and blockchain technology, primarily focused on the Elrond Ecosystem.

Investment focus

Industry: Blockchain, Cryptocurrency, Gaming
Stage:Seed, Series A
Geography: United States, Singapore, United Kingdom

Investor stats

Total investments: 149
Round size: Seed $1.5M–$10M; Series A $1.6M–$25M
Lead/follow: 11% lead, 89% follow

Portfolio highlights

OP_NET — OPNET is a Bitcoin Layer 1 metaprotocol that enables smart contracts to function directly on the Bitcoin blockchain, without the use of sidechains or Layer 2 solutions.
Watch.fun — Watch.fun is a platform that offers ticket-based entries for luxury watch giveaways.
Space — Space is a leveraged prediction market platform built on Solana, designed to reward users for accurate insights while enabling efficient capital flow through competitive forecasting, combining high-performance blockchain infrastructure with advanced market mechanisms to create a transparent, scalable, and engaging environment for decentralizedprediction and informed decision-making.

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We are an online advertising company. Experts on leading monetization models. With cutting-edge online media campaigns, online content and traffic management.

Investment focus

Industry: Mobile Apps, PaaS, SaaS
Stage:Seed, Pre-Seed, Convertible Note
Geography: Portugal, Lithuania, United States

Investor stats

Total investments: 4
Lead/follow: 25% lead, 75% follow

Portfolio highlights

Lympid — EU Tokenization Platform for Securities & RWAs | Lympid tokenize any asset and accept investments in weeks, not months by leveraging our tokenization-as-a-service
Replai — Founded in 2019, Replai is the world’s first video-based creative insights platform that empowers brands to maximize the performance and engagement of their videos. Blending computer vision and AI technology, Replai has solved a long-standing problem that helps brands recalibrate their videos so they can maximize growth and build communities.Replai partners with some of the biggest global brands and mobile apps companies. Based in San Francisco, Replai is a privately-held, venture-backed company, with offices in London and Porto.
betty.football — betty, the world's first AI-powered football assistant, that makes real-time goals predictions and offers valuable statistical insights to football fans. Using artificial intelligence models, proprietary algorithms, and machine learning techniques, betty analyzes major leagues, their clubs, history, and behaviors to develop her skills.Recently, with the addition of Chat GPT's innovative technology, betty's capabilities are set to expand even further. Chat GPT's expertise in natural language processing and machine learning will complement betty's existing features, making it easier for fans to receive real-time updates and personalized recommendations.

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They believe the unbelievable and trust the untrustable.

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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Semapa Next is a venture capital firm that invests in European-based companies aspiring to become global category leaders.

Investment focus

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

Investor stats

Total investments: 26
Round size: Seed $222k–$6.5M; Series A $6.5M–$32M
Lead/follow: 27% lead, 73% follow

Portfolio highlights

Sybilion — The decision layer for industrial companies. Sybilion connects external world dynamics to the decisions that shape your margin, working alongside the systems...
Gigaton — Carbon Re is a climate tech company using cutting-edge AI solutions to decarbonize cement and steel. Get in touch with us today!
Jupus — As the first legal AI secretary in Europe, JUPUS automates the entire process from initial client contact to the complete file. Lawyers are supported by an AI chatbot, an online appointment booking tool, and an AI platform that automatically collects and processes inquiries, information, and documents, facilitating automated communication withclients.

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Moonrock Capital is a Blockchain Advisory and Investment Partnership based in London and Hamburg.

Investment focus

Industry: Blockchain, Information Technology, Cryptocurrency
Stage:Seed, Pre-Seed
Geography: United States, Singapore, United Kingdom

Investor stats

Total investments: 48
Lead/follow: no public data

Portfolio highlights

Rebar Labs — Rebar Labs is a company that offers research services and infrastructure for bitcoin. The company wants to help users in the Bitcoin ecosystem create more effective and better experiences by addressing issues related to maximum extractable value and offering services that guarantee equitable value distribution.
Yellow — Yellow is a financial services provider of software, analytics, and investments in blockchain startups.
Tren Finance — Tren Finance: a secure DeFi liquidity protocol offering seamless asset swaps, yield opportunities, and cross-chain compatibility through automated smart contracts, redefining liquidity for users and institutions.

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