Armilar Venture Partners

Armilar Venture Partners, established in 2000, is a Lisbon-based venture capital firm. It invests in seed and early-stage companies, primarily in the technology sector, with a focus on enterprise software, SaaS, IoT, AI, and cybersecurity. The firm has managed multiple funds, totaling nearly 300 million euros in assets, and has backed innovative companies worldwide.

Pedro Almeida

Senior Associate

João Paulo Alpendre

CFO and Managing Partner

Pedro Castel-Branco

Senior Associate

Rodolfo Condessa

Principal

João Dias

Partner

Nuno Leite

CFO and Managing Partner

Vitor Martins

Senior Associate

Joaquim Sérvulo Rodrigues

Investor

Inês Santos

Senior Associate

Past deals in Portugal

Maven Pet

Pre Seed Round in 2024
Maven is a SaaS pet tech startup that provides a personal vet to track the pet’s safety and health 24/7. It focuses on using technology to improve the quality of life for pets, as well as offering pet owners peace of mind and a way to keep track of their pet's safety, health, and well-being on a continual basis through their own personal veterinarian. It was started by the founders of Findster Technologies in 2021 and is based in the US and Portugal.

Tonic App

Series A in 2024
Tonic App S.A. is a mobile application developer based in Porto, Portugal, founded in 2016. The company’s flagship application serves as a comprehensive platform for medical professionals, facilitating communication, collaboration, and information sharing among doctors. It enables users to message, share, and archive patient cases, seek expert advice, and network with peers. Tonic App is also utilized by hospitals, pharmaceutical and medical technology firms, as well as medical associations, to connect with healthcare professionals and disseminate relevant medical content. The application supports various functionalities including video consultations, clinical decision tools, and the sharing of medical images, thereby enhancing clinical work efficiency and improving patient outcomes. It is accredited as an e-library by the European Accreditation Council in CME, underscoring its commitment to quality and safety in clinical practices.

Vawlt

Seed Round in 2024
Vawlt is a data storage platform based in Lisbon, Portugal, founded by researchers from the LASIGE research group at the University of Lisbon. The company focuses on simplifying the management of multiple cloud storage solutions while enhancing data security and privacy. Vawlt's platform enables organizations to store and share files effectively, optimizing storage resources and allowing customization of data storage volumes based on specific needs such as cost, performance, location, and compliance. This approach empowers companies to manage their data more responsibly and reduces maintenance and operational costs. Vawlt is dedicated to ensuring individuals and organizations have control over their data while adhering to higher security standards.

Maven Pet

Pre Seed Round in 2022
Maven is a SaaS pet tech startup that provides a personal vet to track the pet’s safety and health 24/7. It focuses on using technology to improve the quality of life for pets, as well as offering pet owners peace of mind and a way to keep track of their pet's safety, health, and well-being on a continual basis through their own personal veterinarian. It was started by the founders of Findster Technologies in 2021 and is based in the US and Portugal.

Reckon.ai

Seed Round in 2021
Reckon.ai is a technology company based in Lisbon, Portugal, founded in 2017, that specializes in developing a cloud platform known as Reckon. This platform is designed for smart retail product analysis and price comparison, leveraging machine learning algorithms, data fusion, and computer vision. Reckon.ai addresses the challenges of competitive analysis in the retail sector by providing tools that enable retailers to track and optimize their pricing strategies against competitors. The platform also assists retailers in inventory management, helping them allocate products more effectively across different store locations by forecasting potential revenue based on various factors such as demographics and customer behavior. Through its innovative solutions, Reckon.ai aims to enhance the efficiency and effectiveness of retail operations in a rapidly evolving digital landscape.

WalliD

Seed Round in 2019
WalliD, SA is a company that specializes in online identification and authentication solutions, focusing on the secure management of digital identities. Founded in 2018 and headquartered in Lisbon, Portugal, WalliD has developed a global protocol for certified identity document transactions. The company offers various tools, including ImportiD, a desktop application that extracts attributes from certified documents, and MyEtherID, a web application that encrypts and stores identities on a smart contract. WalliD enables users to securely encrypt and store their identity documents in Ethereum wallets, facilitating safe validations for online services that require Know-Your-Customer (KYC) compliance. The company's architecture supports Certification Authorities and digital certificates through public key infrastructure, ensuring that all identity documents stored in users' wallets are backed by reliable digital certificates. Additionally, WalliD provides data verification services, allowing platforms to validate user identities using governmental IDs and other identity infrastructures, thereby enhancing the security and privacy of digital identity management.

Tonic App

Series A in 2019
Tonic App S.A. is a mobile application developer based in Porto, Portugal, founded in 2016. The company’s flagship application serves as a comprehensive platform for medical professionals, facilitating communication, collaboration, and information sharing among doctors. It enables users to message, share, and archive patient cases, seek expert advice, and network with peers. Tonic App is also utilized by hospitals, pharmaceutical and medical technology firms, as well as medical associations, to connect with healthcare professionals and disseminate relevant medical content. The application supports various functionalities including video consultations, clinical decision tools, and the sharing of medical images, thereby enhancing clinical work efficiency and improving patient outcomes. It is accredited as an e-library by the European Accreditation Council in CME, underscoring its commitment to quality and safety in clinical practices.

Vawlt

Seed Round in 2019
Vawlt is a data storage platform based in Lisbon, Portugal, founded by researchers from the LASIGE research group at the University of Lisbon. The company focuses on simplifying the management of multiple cloud storage solutions while enhancing data security and privacy. Vawlt's platform enables organizations to store and share files effectively, optimizing storage resources and allowing customization of data storage volumes based on specific needs such as cost, performance, location, and compliance. This approach empowers companies to manage their data more responsibly and reduces maintenance and operational costs. Vawlt is dedicated to ensuring individuals and organizations have control over their data while adhering to higher security standards.

FASTinov

Seed Round in 2015
FASTinov S.A., founded in 2013 and based in Matosinhos, Portugal, specializes in the development and marketing of innovative technology aimed at enhancing the speed and reliability of Antimicrobial Susceptibility Tests (AST). The company focuses on research and development to create a patented, disruptive solution that is particularly beneficial in acute care settings, where timely diagnostic results are critical for effective patient treatment. Through its advanced technology, FASTinov seeks to improve healthcare outcomes by facilitating quicker and more accurate identification of antimicrobial effectiveness, addressing a significant need in the medical field.

Feedzai

Series B in 2015
Feedzai is a global technology company specializing in AI-driven fraud prevention and financial crime management. Established in 2008, the company offers an end-to-end platform that ingests and analyzes diverse data streams, creating hypergranular risk profiles to detect and prevent fraud in real-time. Feedzai serves a wide range of clients, including banks, payment providers, merchants, and retailers, across multiple continents. Its solutions are designed to enhance customer experience while safeguarding trillions of dollars in transactions. The company is headquartered in San Mateo, California, with additional offices worldwide.

LaserLeap

Seed Round in 2013
LaserLeap Technologies SA, founded in 2011 and based in Coimbra, Portugal, specializes in innovative healthcare technology designed to deliver medicines and cosmetics through the skin without pain. The company has developed a unique method that combines affordable lasers and advanced materials to enhance skin permeation, allowing for the effective transdermal and intradermal administration of various applications, including analgesics, anesthetics, therapeutics, vaccines, and biotechnology drugs. By leveraging two decades of research in laser and ultrasound technology, LaserLeap aims to provide a safer and more efficient approach to drug delivery, facilitating faster treatments and improving patient comfort.

Ynvisible Interactive

Series A in 2013
Ynvisible Interactive Inc. is a Vancouver-based company that specializes in the development and sale of electrochromic displays and printed electronic components. Founded in 2010, the company focuses on providing comprehensive services that include system design, integration, prototyping, and commercial production tailored to specific application needs. Ynvisible serves various industries, such as healthcare, consumer products, logistics, and printing, by offering products that enhance user interaction and connectivity in the Internet of Things (IoT). Through its technological innovations, Ynvisible Interactive aims to facilitate advancements in low-power electronics and improve product design and integration for its clients.

Equigerminal

Seed Round in 2012
Equigerminal is a veterinary company based in Cantanhede, Portugal, founded in 2011. The company specializes in the development and production of antiviral and biotechnological products focused on equine health. It offers solutions for various viral infections, including an antiviral treatment for Equine Infectious Anaemia virus. Additionally, Equigerminal develops equine bio-markers aimed at identifying the New Equine Virus (NEV) in horses. Through its innovative diagnostics and antiviral vaccines, the company supports veterinarians, breeders, and horse owners in preventing the spread of infections and enhancing the health and resilience of horses.

Feedzai

Seed Round in 2011
Feedzai is a global technology company specializing in AI-driven fraud prevention and financial crime management. Established in 2008, the company offers an end-to-end platform that ingests and analyzes diverse data streams, creating hypergranular risk profiles to detect and prevent fraud in real-time. Feedzai serves a wide range of clients, including banks, payment providers, merchants, and retailers, across multiple continents. Its solutions are designed to enhance customer experience while safeguarding trillions of dollars in transactions. The company is headquartered in San Mateo, California, with additional offices worldwide.

BERD

Series A in 2011
BERD, established in 2006 by Professor Pedro Pacheco, specializes in engineering services for bridge and viaduct construction. Headquartered in Matosinhos, Portugal, the company operates globally, offering innovative solutions based on its patented Organic Prestressing System (OPS). BERD's unique movable scaffolder technology, featuring an auto-adaptive prestressing system, enables lighter and more efficient structures compared to conventional methods. The company serves clients across multiple continents, including Europe, North America, Asia, and South America.

Nutrigreen

Series A in 2009
Nutrigreen is a Portuguese company established in 2009, specializing in the production and marketing of fresh fruit derivatives. With a focus on making fiber, vitamins, and nutrients integral to daily living, Nutrigreen offers a range of products designed to promote a healthy lifestyle. Its offerings include natural fruit juices, fruit and vegetable purées, fresh fruit bars, and natural antioxidants. The company collaborates with major distributors across Portugal and Europe to ensure the availability of its innovative products, which cater to evolving food trends and emphasize the importance of fruits in a balanced diet. Nutrigreen is dedicated to delivering high-quality, ready-to-eat fruit options that support consumers in maintaining their health.

Sousacamp

Series A in 2007
Sousacamp, SGPS, S.A. is a company based in Bragança, Portugal, dedicated to the production and supply of mushrooms and other vegetables for the food industry and households. The company offers a diverse range of mushroom varieties, including white, pleurotus, shiitake, maroon, portobello, pie blue, seta de cardo, and enokitake, alongside other organic vegetables. By focusing on natural food products, Sousacamp aims to provide customers with healthy and safe options that contribute to their well-being.

Coreworks

Series A in 2006
Coreworks® S.A. is a leading provider of Semiconductor Intellectual Property (SIP) for multi-standard multimedia such as DTV, IPTV, portable audio players, and mobile internet devices. Our products have been implemented in a wide variety of technologies, for more than 30 customers worldwide. Our products include digital audio encoders and decoders such as Dolby Digital, Advanced Audio Coding (AAC and AAC+), MPEG1/2 Layers 1/2, digital audio interfaces such as SPDIF/AES-EBU, TDM, I2S, and asynchronous sample rate converters. Coreworks' products rely on the SideWorks™ patent pending technology for automatically creating pre-silicon configurable and post-silicon reconfigurable hardware accelerators. Our solutions achieve three to five times more efficiency in terms of silicon area and power consumption, compared to the competition. Coreworks was founded in 2001 by two professors of the Technical University of Lisbon (IST) doing research on Reconfigurable Computing at the Institute for Systems and Computer Engineering R&D (INESC-ID). The company received an A-series investment round from Espírito Santo Ventures in 2006, and three R&D grants from the Portuguese government. Its complex technology is still undergoing developments.

Active Global

Series A in 2006
Active Global is a Portuguese holding company that specializes in managing a diverse portfolio of businesses focused on agriculture, cattle breeding, and forest planning. The company aims to enhance health and well-being by providing professional home care services, including live-in caregivers and respite care. Active Global employs foreign-trained nurses with substantial hospital experience and nursing aides with expertise in elderly care. This approach ensures that patients receive professional and affordable medical care in the comfort of their own homes, facilitating effective health improvement treatments. Through its various initiatives, Active Global plays a vital role in both agricultural development and healthcare services.

Vortal

Series A in 2000
Vortal is a leading G2B2B (Government to Business to Business) eMarketplace operator, serving more than 50,000 companies and 2,000 contracting authorities in 3 continents. The company was founded in 2000 with a mission “to help our clients buying better and selling more", to achieve superior performance” in a high performance collaborative cloud-based solution. Vortal supports its customers through its offices in Portugal, Spain, UK and the Czech Republic , with a team of highly-motivated people from 7 nationalities. Business foundation has been built on becoming the leader in Portugal, both in the Private and Public markets regarding electronic procurement. Since 2010, Vortal has been consecutively distinguished as one of "100 best companies to work in Portugal", in a survey carried out by “Accenture" and "Exame" magazine. In 2011, the Association of Electronic Commerce and Interactive Advertising distinguished Vortal as the "Best B2B e-commerce website". At an International level, Vortal was included in the Deloitte “Technology fast growing 500 EMEA ranking” and recognized by Gartner regarding expertise and capabilities, namely in the publications “Strategies for Public-Sector Investment in Procurement Applications" and "Cool Vendors in Procurement Applications".
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