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Portuguese Web Summit pitch winners that became successful

Portuguese Web Summit pitch winners that became successful - portugal news
Portuguese Web Summit pitch winners that became successful - Portugal Business News

Portugal news – These are the Portuguese startups that went from Web Summit pitch winners to successful tech companies.


Collectively, the Web Summit PITCH winners raised USD 1.5 billion since the first startup competition PITCH 2013 that rewarded 21 startups from around the world, according to Web Summit.



1 - Portuguese tech startup CODACY


Portuguese tech startup CODACY, that won the Web Summit Pitch competition in 2014, closed a 15 million euros Series B funding round in September 2022. The funding round was led by Bright Pixel Capital that belongs to Sonae group, with venture capital firms Armilar Venture Partners, Faber Ventures, Join Capital, Caixa Capital, EQT Ventures and Iberis Capital. Following this series B investment round, Codacy has raised a total amount of 28 euros million in private funding.


At the time of their first Web Summit Pitch competition, CODACY co-founder Jaime Jorge described it to be “like the Oscars for startups in Europe.” Codacy, a DevOps intelligence platform that helps developers ship billions of lines of code per day by automating and standardizing code reviews, reaches over 600,000 developers around the world.



2 - Portuguese AI startup Smartex


Portuguese AI startup Smartex won the top prize at the Web Summit 2021 in Lisbon. Since winning the competition, Smartex closed a series A investment round of more than 24.7 million dollars in November 2022 led by Lightspeed Venture Partners from the US, and the British studio Build Collective. In addition, H&M and Kering – the holding company that owns Gucci and Balenciaga – and the Portuguese Faber also participated in the operation.


Portuguese tech startup Smartex builds tools for the modern textile factory and helps textile manufacturers to significantly reduce waste while improving their environmental impact.


Smartex has also received a number of grants and awards, including:

1-   TEXP@CT, the Innovation Pact for the Digitalization of Textiles and Clothing Sector, under the PRR on July 1, 2022 – Dec 31, 2025, for an investment of 45,802,698.40 euros.

2-   Produtech R3 - Recovery-Resilience-Reindustrialization - Agenda for mobilizing the production technologies sector for reindustrialization, under the PRR on Jan 1, 2022 – Dec 31, 2025, for an investment of 167,298,999.02 euros.

3-   European Innovation Council New software solution to ensure textile quality, on Feb 1, 2020 – Sep 30, 2022, for an investment of 1,464,375.00 euros.

4-  DigiTVC on May 1, 2020 – Mar 31, 2023, for an investment of 851,171.88 euros.


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