10 Top Portugal Startups to Watch in 2023
Last Updated: By TRUiC Team
With their competitive tax benefits, such as Startup Visa and Tech Visa, as well as government investment in entrepreneurship, Portugal has solidified itself as a great place for launching and scaling a startup.
Portugal has a burgeoning startup scene with companies across a variety of industries, from blockchain to real estate tech. These are the top Portugal startups to watch in 2023.
Learn how to launch your own company by reading our comprehensive guide on how to start a startup.
Best Startups in Portugal
Every year, new startups pull to the forefront of their industry through exciting innovation, tech, and industry-disrupting business models. We’ve rounded up the most exciting Portugal startups of 2023 that startup lovers, investors, and aspiring entrepreneurs should follow.
Disclaimer: With so many exciting Portuguese startups launching and growing, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.
1. Exclusible
- Industry: Blockchain, Web3
- Founders: Artur Goulão, Olivier Bureau, Pierre Guigourese, Romain Girbal, Thibault Launay
- Founded In: 2021
- Funding: €7.2 Million ($7.6 Million)
- Investors Include: APEX Capital, Dan Holzmann
Exclusible is a web3 marketplace for luxury brands to build in the metaverse. From non-fungible tokens (NFTs) to metaverse projects, Exclusible has partnered with major brands such as McDonald's, Vogue, and Hugo Boss to bring their powerhouse brands into the digital world.
2. TMRW Sports
- Industry: Sports Tech
- Founders: Mike McCarley, Rory McIlroy, Tiger Woods
- Founded In: 2021
- Funding: $14.7 Million
- Investors Include: Stephen Curry, Alex Lieberman
Founded by golf stars Tiger Woods, Rory McIlroy, and NBC Sports Executive Mike McCarley, TMRW Sports is a sports technology company innovating media and events surrounding sports today. From stadium events to golf leagues, TMRW Sports is dedicated to building an even stronger community around sports.
3. Casafari
- Industry: Real Estate Tech
- Founders: Dmitry Moskalchuk, Mila Suharev, Nils Henning
- Founded In: 2019
- Funding: €119.2 Million ($126.8 Million)
- Investors Include: Prudence, FJ Labs
Casafari is a real estate software company with a suite of features, including an online property valuation tool, real estate CRM, and resources to grow your real estate portfolio on the platform. With over 320 million property listings, Casafari offers an extensive collection of real estate data that provides agents with the tools they need to succeed.
4. Smartex.ai
- Industry: Artificial Intelligence (AI)
- Founders: Antonio Rocha, Gilberto Loureiro, Paulo Ribeiro
- Founded In: 2018
- Funding: $27.6 Million
- Investors Include: HAX, Fashion For Good
Smartex.ai uses artificial intelligence to detect defects in textiles to reduce the impact of imperfections later on in the supply chain. All data is captured and organized to increase the traceability of defects and improve the production process end-to-end.
5. Cleanwatts
- Industry: Sustainability, Clean Energy
- Founders: J Basilio Simões, James McDougall, Jorge Landeck, Luisa Matos, Michael Pinto
- Founded In: 2020
- Funding: €16.1 Million ($17.1 Million)
- Investors Include: Verdane
Cleanwatts is a clean energy startup using climate tech to ‘decentralize clean energy’ and provide renewable energy resources for a greater part of the population. Partnered with Leaders for Climate Action and the World Energy Council, Cleanwatts is on a mission to improve energy efficiency for the world.
6. NAORIS
- Industry: Artificial Intelligence (AI)
- Founders: David Joao Vieira Carvaho, Monica Oravcova
- Founded In: 2020
- Funding: $11.5 Million
- Investors Include: The Holt Xchange, Draper Associates
NAORIS leverages artificial intelligence, distributed ledger technology (DLT), and machine learning to improve cybersecurity for businesses of every size, from startups to large corporations as well as government agencies and the military.
7. Infraspeak
- Industry: Software
- Founders: Felipe Ávila da Costa, Luís Martins
- Founded In: 2015
- Funding: $25 Million
- Investors Include: 500 Global, Bright Pixel
Infraspeak is a facility management software that improves logistics for businesses of all sizes with innovative technology. Used by SIEMENS and Mitsubishi Electric, Infraspeak’s software platform offers solutions for team management, compliance, and data processing.
8. Eneida
- Industry: Artificial Intelligence (AI), Clean Energy
- Founders: Carlos Pina Teixeira
- Founded In: 2018
- Funding: €5.7 Million ($6 Million)
- Investors Include: 200M, Korys
Enedia leverages the power of AI and smart sensors to develop a low-voltage power grid called Deep Grid. The mission behind the company is to provide a cleaner energy solution for electric companies.
9. xMoney
- Industry: Fintech, Cryptocurrency
- Founders: Artur Goulão, Filipe Castro, Nuno Correia, Roberto Machado
- Founded In: 2017
- Funding: $21 Million
- Investors Include: Alchemist Accelerator
xMoney (formerly Utrust), acquired by Elrond in 2020, is a web3 payments platform that allows users to buy and sell goods using digital currencies. Using the platform’s API or plugins for ecommerce marketplaces, online businesses and consumers can utilize cryptocurrency with ease.
10. Promptly
- Industry: Healthtech
- Founders: Luis Magalhaes
- Founded In: 2018
- Funding: $4.6 Million
- Investors Include: PharmStars, Pathena
Promptly collaborates with healthcare institutions to streamline systems for patients by leveraging organized, analyzed data. The goal of this startup is to use health data analytics to allow patients to cut health expenses, track treatment outcomes, and improve the healthcare sector as a whole.
Recommended: Check out our full list of the top startups to watch!
