In 2024, Europe has experienced a notable downturn in funding, as venture capital and investment activity face headwinds amid uncertain economic conditions. However, despite the broader challenges affecting the continent, Portugal has proven resilient. Startups across the country continue to attract significant investments, securing impressive funding rounds and showcasing their innovation and growth potential. This article highlights some of the largest funding rounds raised by Portuguese startups this year, demonstrating the country's thriving entrepreneurial spirit and the ongoing confidence of investors in its dynamic tech and business landscape.

Powerdot

Powerdot, an EV charge point operator founded in 2018, specializes in installing and managing charging stations at high-traffic locations like supermarkets, shopping malls, and hotels. Offering a turnkey solution, the company covers installation, operations, and maintenance costs for property owners. Operating across Portugal, France, Spain, Belgium, Luxembourg, and Poland, Powerdot has deployed 2,642 stations across 1,392 zones, totaling 7,384 charging points as of February 2025. In 2024, the company secured $180.2 million in green financing from top banks, and $108.5 million from Antin Infrastructure Partners and Arié Group to accelerate tech development and expand its network. With these investments, Powerdot plans to install 15,000 charging points by 2025, expanding to 3,100 locations by 2026.

Tekever

Tekever, an aerospace and defense technology company founded in 2001 by former IST engineering students, specializes in developing dual-use drone solutions for civilian and military applications. Headquartered in the Lisbon region, Tekever has expanded operations to the U.K., U.S., and France. In 2024, the company secured a $74 million Series B funding round led by Baillie Gifford & Co. and the NATO Innovation Fund, with participation from the U.K.’s National Security Strategic Investment Fund, Crescent Cove Advisors, Iberis Semper, and Cedrus Capital. The funding will support product development and U.S. market expansion. Tekever’s drones, including the ARX model, have been deployed in Ukraine, for the European Maritime Safety Agency, and the U.K. Home Office, demonstrating their capabilities in both surveillance and battlefield operations.

Indie Campers

Indie Campers, a Lisbon-based recreational vehicle (RV) rental platform founded in 2013 by Hugo Oliveira, offers flexible and customizable RV travel options across more than 70 locations worldwide. Operating a fleet of over 7,000 vehicles across three continents, the company provides an easy-to-use digital platform for direct rentals and a marketplace for private and professional campervan owners. In 2024, Indie Campers secured a $38.12 million funding round led by Indico Capital Partners, with participation from Cedrus and GED Ventures. The investment will support the company's rapid growth, enhance its digital platform, and expand its global footprint by streamlining operations, improving customer experience, and strengthening its team across product, tech, data, and marketing.

Infraspeak

Infraspeak, a Porto-based facilities management platform founded in 2015 by Felipe Ávila da Costa and Luis Martins, provides an intelligent maintenance management system that connects assets, teams, software, and hardware to optimize operations. The platform enables real-time collaboration between facility managers, staff, and service providers through its shared digital workspace, Infraspeak Network. Serving clients like KFC, InterContinental, and Primark, Infraspeak streamlines workflows, reduces miscommunication, and enhances operational efficiency. In 2024, the company secured an $19.5 million Series B funding round led by Indico Capital Partners, supporting its mission to further develop its technology and expand its market presence.

Oceano Fresco

Oceano Fresco, a sustainable seafood company founded in 2015 by Bernardo Ferreira de Carvalho, specializes in the sustainable aquaculture of European clams. The company operates the world’s first open-sea clam farm off the coast of Lagos, promoting environmentally friendly practices by avoiding artificial feed and antibiotics, while enhancing biodiversity and carbon capture. In 2024, Oceano Fresco secured $18.4 million in funding, led by Indico Capital Partners, with support from BlueCrow, Aqua-Spark, and Banco Português de Fomento. The funding will support the company’s expansion and production capacity as it strives to become a global leader in regenerative bivalve aquaculture.

Sensei

Sensei, a startup founded in 2017 by Vasco Portugal, specializes in creating fully automated, contactless store platforms using AI and computer vision technology. The company’s system automatically updates store payment systems and prepares checkout lists for customers. In 2024, Sensei raised approximately $16.2 million in a Series A funding round led by BlueCrow Capital, with participation from Lince Capital, Explorer Investments, Kamay Ventures, Metro AG, and Techstars Ventures. This funding will support Sensei’s goal of expanding to 1,000 autonomous points of sale by 2026, with operations currently in Portugal, Spain, France, Italy, and Brazil, and plans to expand further in Europe.

Tonic App

Tonic App, a digital health startup founded in 2016 by Daniela Seixas, specializes in solving the fragmentation of tools and knowledge needed by physicians for daily practice. Its 360º platform combines clinical decision support, educational content, video consultations, and more. In 2024, Tonic App raised $11.7 million in a Series A round led by BlueCrow Capital and Iberis Capital, with participation from Vesalius Biocapital III, Armilar Venture Partners, Shilling VC, and FSNB Health & Care. The funds will support expansion into new regions, hiring senior talent, and investing in AI, as the company aims to serve Europe’s five largest healthcare markets.

Eneida

Eneida.io, a Coimbra-based company founded in 2012, specializes in neighbourhood grid intelligence for zero-emission neighbourhoods (ZEN). The company offers the DeepGrid® Operational Analytics platform, which integrates smart sensor networks with advanced data analytics to improve the management of low voltage networks, enabling the adoption of electric vehicles, heat pumps, and solar panels. In 2024, Eneida raised $11.3 million in Series B funding, led by Junction Growth Investors and Santander Alternative Investments, with additional support from Korys, HCapital, and the company’s founders. The funds will support market expansion, R&D, and further scaling of its platform.

DuelNow

DuelNow, a Lisbon-based decentralized sports betting platform, allows users to create custom bets and compete directly with others, eliminating the house advantage. In 2024, the company secured $11 million in funding, including a $10 million commitment from GEM Digital Limited and an additional $1 million from notable investors like Litecoin creator Charlie Lee and Dogecoin creator Billy Markus. This investment will help DuelNow grow its platform, expand sports offerings, and establish itself as a leader in decentralized sports betting, offering bettors greater control, transparency, and lower fees.

While the funding landscape in Europe may be undergoing a contraction, Portugal’s startup ecosystem stands out for its adaptability and drive. The large funding rounds secured by some of the nation’s most promising companies signal that despite economic fluctuations, the innovation and potential for growth in Portugal remain strong. These resilient startups are not only helping shape the future of the country’s economy but also positioning themselves as key players in the global market, ready to thrive in the face of adversity.