Top 15 Retail VC (Venture Capital) Funds in Portugal in September 2025
A list of 15 VC (Venture Capital) funds that invest in Retail startups based in Portugal. We rank investors based on the number of investments they made in Retail companies from Portugal. We update this investor list every month.Top 15 Retail VC (Venture Capital) Funds in Portugal in September 2025
Investor | Retail Portugal investments |
---|---|
REDangels | 2 |
WISENEXT | 1 |
Portugal Ventures | 1 |
Explorer Investments | 1 |
LeadX Capital Partners | 1 |
Seaya | 1 |
Metro | 1 |
Lince Capital | 1 |
Kamay Ventures | 1 |
EDP Ventures | 1 |
Techstars Ventures | 1 |
Bright Pixel (formerly Sonae IM) | 1 |
200M | 1 |
Iberis Capital | 1 |
Bynd Venture Capital | 1 |
They believe the unbelievable and trust the untrustable.
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Investment focus
- Internet of Things, Mobile, Internet
- Seed, Pre-Seed, Angel
- Portugal, Poland, Germany
Portfolio highlights
- 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.
- Musiversal — Record your music in real time with world-class session musicians, vocalists, producers and audio engineers
- Sensefinity — Sensefinity The Blockchain IoT Transformation Company Building the Internet of Cargo Where Assets autonomously connect to processes
WiseNext is a venture and smart capital investment company. We focus on helping young entrepreneurs with innovative ideas that have an impact on our society, providing capital, knowledge and networking.
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Investment focus
- Software, Artificial Intelligence, Internet
- Seed, Pre-Seed
- Portugal, United States
Portfolio highlights
- pleez — Pleez offers Restaurant's an optimisation of their menu within Delivery Platforms, so that they can have a revenue increase up to 25%.
- Volup — Volup is a premium food delivery app that partners exclusively with top-tier chefs and restaurants.
- Relive — Relive is empowering the next generation of real estate entrepreneurs, with a mobile app that allows them to work for themselves, from anywhere, while saving time and earning commissions faster.
Verticals:Enterprise, SaaS, Security, Networks, AI, VR/AR, Marketplace, Blockchain, Internet of Things, New materials, Electronics, Robotics, Cleantech, Agrotech, Seatech, Therapeutics, Digital Health, Diagnostics, Innovative Accommodation, Tourist Entertainment Companies, Tour Operators, Wine, Nautical and Equestrian Tourism, Theme ParksMobile, Robotics Founded in 2012, Portugal Ventures is a venture capital firm based in Porto, Portugal. The firm is a part of the Banco Português de Fomento group. The firm seeks to invest in pre-seed, seed and series A stages
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Investment focus
- Software, Information Technology, Health Care
- Seed, Funding Round, Pre-Seed
- Portugal, United States, France
Portfolio highlights
- Glartek — Glartek's Augmented and Connected Worker solution enables increasing efficiency, safety, and excellence in all industrial operations.
- Winalist — Discover and book curated wine tours, tastings, and exclusive wine and spirits experiences across Europe and the US. Explore top vineyards and enjoy personalized recommendations with Winalist.
- Mantis-AI — Mantis.AI is an entertainment tech company that takes raw videos and noisy data and shapes them into a masterpiece of organized video clips, enriched data and content insights.
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
- Manufacturing, Retail, Restaurants
- Private Equity, Seed, Funding Round
- Portugal, Spain, Brazil
Portfolio highlights
- ETHIACK — Identify vulnerabilities before they get exploited. We combine Machine and Human Ethical Hacking for both in-depth and in-breadth security testing.
- eSelf AI — Design lifelike AI avatars and video chatbots that speak 30+ languages. eSelf AI helps you scale your business and boost engagement with innovative video tools.
- Jove Insurance — Jove provides business and protection insurance to contractors, freelancers and SMEs, powered by tech and driven by social good.
Driving digital transformation of consumer industries. As a leading growth capital investor, we combine deep investment experience with commercial reach.
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Investment focus
- Restaurants, SaaS, Software
- Seed, Pre-Seed, Series B
- Germany, France, United Kingdom
Portfolio highlights
- Motatos — Motatos is an online retail store that offers a wide variety of food, beverages, and household products to customers.
- Matsmart — Matsmart sells surplus food online. A major part of the food would otherwise be thrown away due to packaging changes, short or expired expiry dates or other reasons. During 2017, Matsmart saved 2022 tonnes of food from going to waste. The company has seen explosive growth, reaching recurring revenues of SEK 200 million. Matsmart was founded by KarlAndersson, Erik Södergren and Ulf Skagerström, and launched in Sweden in 2014. Since then, the company has also expanded to Norway and Finland. Long live the food!
- 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.
Seaya is an European VC investing in exceptional entrepreneurs who build global tech companies.
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Investment focus
- Internet, Software, Financial Services
- Series A, Series B, Funding Round
- Spain, France, Mexico
Portfolio highlights
- bezahl.de — Bezahl provides digital and automated payment management and solutions.
- Remuner — Say goodbye to spreadsheets. Remuner is the sales compensation software that automate your commissions and drive performance.
- Shalion — Shalion enables ambitious brands to navigate their journey to digital shelf excellence with a unique, unified digital shelf & retail media insights solution.
METRO GROUP is a Germany-based holding company and international retailing company. It operates numerous outlets in various countries in Europe, Africa and Asia. The Company operates a portfolio of sales brands, which offers a range of services for private and commercial customers. The portfolio comprises Metro Cash & Carry brand, which isactive in the self-service wholesale industry, Real hypermarkets brand, which operates the Real stores across Europe offering both food and non-food products; Media Markt brand, which is active on the European market in the consumer electronics retailing industry; Saturn brand, which operates consumer electronics stores and Galeria Kaufhof brand, under which the Company operates department stores in Germany and Belgium. The Company is also engaged in the real estate operations (Metro Properties), logistics (Metro Logistics), Information Technology (Metro Systems) and advertising services.
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Investment focus
- Hospitality, Restaurants, Retail
- Series A, Seed, Series C
- Germany, United States
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.
- orderbird — The iPad POS system orderbird POS is a complete POS solution that is ideal for bars, restaurants and clubs. The cash register system can be individualized according to your needs. It will send the waiter's orders directly & wireless to the kitchen and bar. The iPad POS system will provide detailed reports per day, month, waiter and shift.The system operates via WiFi with pre-configured printers that are available in the orderbird store. orderbird POS is the perfect combination of low costs and high performance.orderbird was founded in 2011 by Jakob Schreyer, Bastian Schmidtke, Patrick Brienen and Artur Hasselbach with the goal of establishing a more affordable and intuitive POS system that fits the real needs of the modern catering industry. The fast-growing company is currently home to more than 100 employees at its Berlin location. Over 5,000 customers — restaurants, cafés, bars, clubs, ice cream shops and beer gardens — in the United Kingdom, Ireland, Germany, Austria, Switzerland are already using the orderbird POS system.
- Retail Media Group — Retail Media Group GmbH (RMG) is a cross-industry marketing platform for retail data. RMG monetizes retail and customer insights from leading retailers such as Media Markt, Saturn, real, Thalia and Metro. Based on these data, RMG enables advertisers to address their respective target audiences individually and without scatter losses. With a digitalreach from more than 60 million IDs, it is a leading partner in the European trade sector. RMG is the Center of Competence when it comes to the effective handling of customer insights in retail marketing compliant with data protection regulations. Furthermore, the company strives to advance the digital transformation of the trade industry.
Lince Capital is an independent venture capital company. Lince Capital was born from the experience of a family group with over 30 years of experience in managing investment funds in various business areas, including real estate, infrastructure, agriculture, and telecommunications.Lince Capital is distinguished by its personalized and excellentsupport, close and direct relationship with each of its investors and business partners, and the dedication of an experienced and dynamic team.
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Investment focus
- Information Technology, E-Commerce, SaaS
- Seed, Funding Round
- Portugal, United Kingdom, United Arab Emirates
Portfolio highlights
- pleez — Pleez offers Restaurant's an optimisation of their menu within Delivery Platforms, so that they can have a revenue increase up to 25%.
- Sensei — We are the leading European provider of autonomous stores, with an AI-powered solution to build efficient operations and deliver a seamless shopping experience.
- OSCAR — On-demand app for home services like repair, cleaning and laundry with fixed prices in less than 30 minutes.
Kamay Ventures is the first corporate venture capital fund open to multiple corporations.
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Investment focus
- FinTech, Lending, Restaurants
- Pre-Seed, Seed
- Mexico, Colombia
Portfolio highlights
- Kilimo — Kilimo is a Big Data solution for water management in agriculture.. It features climate monitoring by using satellite and site data to provides prescription for each crop and increase water use efficiency. The company was founded in 2014 and headquartered in Cordoba, Argentina.
- Altscore — AltScore offers Lending-as-a-Service (LaaS) tools for MSMB lending that provide cutting-edge underwriting, client experience, and smart collections.
- 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.
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
- Software, Information Technology, Energy
- Seed, Funding Round, Series A
- United States, Portugal, Brazil
Portfolio highlights
- Captura — Captura is harnessing the power of the ocean to heal the climate through Direct Ocean Capture technology.
- Splight Tech — By creating a new layer of safety for the grid, Splight rapidly unlocks additional transmission capacity on existing infrastructure for IPPs and data centers.
- Mixergy — Hot water is central to energy management. We help homes, buildings, and utilities transition to a cleaner, more resilient future.
Techstars helps founders succeed. Through our global accelerators, we invest in early-stage startups led by founders building a better future for everyone.
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Investment focus
- Software, SaaS, Artificial Intelligence
- Seed, Series A, Pre-Seed
- United States, United Kingdom, Canada
Portfolio highlights
- WASTETIDE — We cut the costs and carbon footprint of waste.
- Aline — A tool for modern organizations to digitally transform their contract processes.
- Ennisphere — Revolutionizing skin health through advanced AI technology. Ennisphere LLC delivers clinical-grade facial analysis and personalized skincare recommendations powered by state-of-the-art machine learning algorithms.
Bright Pixel Capital (former Sonae IM) is the technology investment arm of the multinational group Sonae. With special focus on cybersecurity, infrastructure software, retail technologies, business applications and emerging tech, it has a portfolio of more than 60 companies, from early to growth stages. Bright Pixel acts as a partner that bringsspecialized know-how, global footprint, and a wealth of experience in helping companies from early stage to IPO.
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Investment focus
- Software, Information Technology, SaaS
- Series A, Series B, Seed
- United States, Portugal, Spain
Portfolio highlights
- Brij — With one-touch, BRIJ allows consumers to gain product info, care instructions and discounts while you gain a deeper understanding of your consumer. Apps, paper manuals and hassles not required.
- FlowFuse — FlowFuse is the Industrial Application platform empowering teams to build, deploy, and manage solutions that optimize operations.
- Tidal Cyber — Tidal Cyber helps enterprise organizations to define, measure, and improve their defenses to address the adversary behaviors that are most important to them. It also helps to assess, organize, and optimize defenses with a deep understanding of the threats.
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
- Health Care, Artificial Intelligence, Therapeutics
- Seed, Series A, Funding Round
- Portugal, Brazil, France
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 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 every part 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
Iberis is an investment manager that operates a value-oriented investment management.
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Investment focus
- Information Technology, Software, B2B
- Seed, Series A, Pre-Seed
- Portugal, Spain, United Kingdom
Portfolio highlights
- D-Orbit — End-to-end services for the New Space industry, including platform engineering, launch and deployment, and decommissioning.
- 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.
- Tryp.com — Find the best travel deals with artificial intelligence. Our algorithm connects flights, trains, and buses for perfect trips with matching hotels.
Bynd is a leading Iberian Venture Capital firm
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Investment focus
- Software, SaaS, Health Care
- Seed, Pre-Seed, Series A
- Portugal, Spain, United States
Portfolio highlights
- Dealcar — DEALCAR is a company that digitalizes the used car market through a SaaS platform, enabling fully digital transactions. This platform creates a network effect benefiting dealers, partners, and customers. • Dealers: Increase revenue by selling extra products and boost sales by reducing turnover time. • Partners: Distribute products at the pointof sale without marketing expenses, lowering operational costs. • Consumers: Purchase a used car easily in just three steps, enjoying a smooth, trusted process similar to renting but with the benefits of owning a car.
- nuuEnergy — nuuEnergy is a tech-enabled solution aiming to revolutionize the heat pump installation industry. By leveraging technology and industry expertise, we streamline the purchasing and installation process. Our unique approach, refinanced through innovative strategies, promotes a self-reliant and carbon-neutral lifestyle for all our customers.
- Relive — Relive is empowering the next generation of real estate entrepreneurs, with a mobile app that allows them to work for themselves, from anywhere, while saving time and earning commissions faster.
Investors by industry
Google
Marketplace
Hardware
Energy
Proptech
Health Care
Biotech
Artificial intelligence
Climate
Consumer
Community
Impact
Gaming
FinTech
EdTech
Sustainability
Venture Capital
Big Data
Web3
B2B
Financial Services
Finance
Infrastructure
Education
Photography
Payments
Food and Beverage
Video Games
Organic Food
Retail
Beauty
Publishing
Clean Energy
Real Estate
Manufacturing
Art
Recruiting
Cannabis
Platforms
Fitness
Travel
Mobile Advertising
Biotechnology
Hospitality
Social
Automotive
Crowdfunding
Wine And Spirits
Medical Device
CleanTech
Music
Transportation
Mobile Apps
InsurTech
Android
Enterprise
Internet
Enterprise Software
eSports
Franchise
Sports
Construction
LGBT
Digital Media
Email
Medical
Social Network
Wellness
Social Media
Mobile
Legal
Local
Fashion
Oil and Gas
Life Science
Theatre
Film
Renewable Energy
Non Profit
SaaS
Software
Sporting Goods
Restaurants
Social Impact
Celebrity
Cryptocurrency
Machine Learning
Agriculture (agtech)
Media (entertainment)
Facebook
Blockchain
Investors by country
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Kazakhstan
Cayman Islands
Cambodia
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Oman
Latvia
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Switzerland
Cameroon
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VC (Venture Capital) Funds in Portugal by industry
Crowdfunding
Financial Services
Finance
Cryptocurrency
Medical Device
Wellness
Biotechnology
Social Media
Internet
Manufacturing
Mobile
Music
Android
Blockchain
Local
Software
Sports
FinTech
eSports
Hospitality
CleanTech
Mobile Advertising
Consumer
Health Care
Enterprise
EdTech
Impact
Sustainability
Energy
SaaS
Proptech
Marketplace
Community
B2B
Artificial intelligence
Hardware
Gaming
Mobile Apps
Retail
Big Data
Infrastructure
Fashion
Web3
Life Science
Education
Medical
Real Estate
Transportation
Construction
InsurTech
Biotech
Renewable Energy
Payments
Food and Beverage
Clean Energy
Enterprise Software
Beauty
Media (entertainment)
Agriculture (agtech)
Machine Learning
Fitness
Platforms
Climate