Portugal Ventures invests €5 million in seven new startups

  • ECO News
  • 13 October 2022

The state venture capital company invested €5 million in the third quarter and strengthened the areas of technology, tourism and health.

Portugal Ventures has seven new startups in its portfolio. The state venture capital company, jointly with other investors, injected €5 million in the third quarter and strengthened the areas of technology, tourism and health.

“These companies develop solutions in strategic sectors such as sustainability, health, digital identity and tourism and are at a stage of growth of their business and recognition in the national and international market,” highlights the chairman of the board of Portugal Ventures, Rui Ferreira.

Since the beginning of the year, Portugal Ventures has already invested in 11 new companies, with a total value of €6.3 million. However, the number is lower than in 2021: by September, the public venture capital had already made 37 investments.

The new startups in the portfolio are divided into three categories: digital & technology, health technologies and tourism.

In technology and health, Portugal Ventures joined the mobile application to facilitate electric car charging Miio, the digital identity toolkit WalliD, the solution to combat fraud in payments Fraudio and the technology solutions for diagnosis and disease management C-mo Medical Solutions.

In tourism, Portugal Ventures invested in Pruvo, a solution based on Artificial Intelligence that allows travel agencies and travellers to benefit from price fluctuation in hotel reservations and Spinach Tours, a platform for tour operators, in partnership with Grupo Barraqueiro and Boost Portugal.

At last, Portugal Ventures invested in FootAR, an immersive augmented reality platform that replicates a virtual football stadium, providing real-time data and statistics on players, clubs and championships.