Portugal's Top 10 Startups That Tech Professionals Should Watch Out For in 2024

Looking for the latest updates? Check out the 2025 version of this article here.

Portugal's tech startup scene is absolutely fire right now! In 2024, this country has become a major European tech hotspot, with startup investment reaching insane levels of over €1.2 billion.

A few key things are driving this startup explosion:

• Thriving startup ecosystem with affordable costs, skilled tech talent, and government support initiatives fueling innovation
• Lisbon named the "European Startup Capital of 2024" by the prestigious EU-Startups summit
• Major tech giants like Google, Amazon, and Volkswagen setting up serious engineering hubs here

As Mary Rodriguez from startup accelerator Beta-i puts it:

"Portugal offers the perfect launchpad for ambitious founders - the resources, the networks, and an innovative mindset."

With an estimated 15,000+ tech jobs created by 2024, an insane time for professionals looking to join this rapidly growing scene.

Key startup sectors attracting talent include AI, fintech, e-commerce, and enterprise software solutions - all areas we'll highlight in this article's top 10 list.

For those new to the game, Portugal has rich educational resources to help kickstart your tech career journey.

The Portugal startup scene is absolutely lit in 2024! To sort out the top dogs, we scoured the web for the latest deets from places like e27.co, InTheValley.blog, and DronaHQ.

We're talking killer criteria like disruptive biz models, mind-blowing tech solutions, and crazy smart founders with a vision. But it's not just hype - these crews are backed by serious cash from investors who know what's up.

We're eyeing startups making waves in cutting-edge fields like AI, healthtech, fintech, and sustainability. The game changers are the ones solving real problems and creating mad value for their customers.

Innovation and market impact are the top dogs, but growth potential, investment backing, and expert opinions also carry weight. So buckle up, because these Portuguese startups are about to shake things up in a major way!

Check out Unbabel, this super awesome startup that's totally shaking up the language translation game! Founded in 2013 and based in Lisbon, these guys have quickly become global leaders in AI-driven translation tech.

They've got this insane combo of cutting-edge AI algorithms and a massive network of human translators, delivering crazy accurate and efficient translations across like 28 different languages!

At the heart of Unbabel's services is their wild AI translation engine that uses machine learning and natural language processing to pump out top-notch translations.

This AI approach has been a total game-changer for global communication, letting businesses, organizations, and regular people break down those pesky language barriers like a boss.

According to Nimdzi Insights, the global machine translation market is set to hit a whopping $1.5 billion by 2024, and Unbabel is poised to scoop up a massive slice of that pie.

Big-name companies across all kinds of industries have been jumping on the Unbabel train, from tech (providing multilingual support for software, websites, and docs), to e-commerce (enabling seamless cross-border shopping experiences through localized content), and travel and tourism (helping travelers communicate with service providers worldwide).

These guys are seriously taking over!

Unbabel is doubling down on their AI game, constantly refining their models and expanding their language offerings.

As their CEO Vasco Pedro put it,

"Our goal is to make language barriers a thing of the past, empowering global communication and fostering cross-cultural understanding."

They've got big plans for real-time translation, voice-to-text transcription, and multilingual content generation, cementing their spot as the ultimate innovators in the language translation space.

Look, OutSystems is seriously crushing it in the low-code game! These guys have built a platform that's making waves and changing how companies develop apps. They already power over 150,000 apps across 60,000 organizations worldwide! That's insane for a company that started in 2001.

What makes OutSystems so sick is how it tackles the big problems businesses face when building software.

With their visual tools, developers can crank out apps 4-8 times faster than traditional coding methods.

Plus, these apps integrate seamlessly with existing systems thanks to 800+ pre-built connectors.

And the best part? OutSystems apps are built to scale, so they'll keep up as your business grows.

The future looks bright for OutSystems. They're recognized as a Leader in the G2 Summer 2024 Enterprise Grid™ Report for low-code platforms.

With companies going all-in on digital transformation, OutSystems is projected to see a massive 40% revenue jump this year. These guys are definitely ones to watch if you're into cutting-edge tech that's shaking up the software development world.

Have you heard about this sick Portuguese startup called Feedzai? They're straight-up killing it when it comes to fighting financial crime with AI. With all the shady stuff going on like fraud, money laundering, and cyberattacks, these guys are a total lifesaver for banks and their customers in 2024 and beyond.

At the heart of Feedzai's game is this insane AI platform that uses machine learning to analyze data like a boss.

It spots patterns and weird stuff that could mean financial crimes, and a Chartis study said AI fraud detection can cut losses by up to 25%! That's some serious savings right there.

The fintech world is going all-in on AI and machine learning, with a projected growth rate of 23.37% between 2022 and 2028, according to Research and Markets.

Feedzai is leading the charge, and they're focused on:

• Real-time fraud detection and prevention: across online banking, mobile payments, and in-store transactions.
• Anti-money laundering (AML) solutions: that use AI to spot sketchy activity and keep up with regulations.
• Cybersecurity upgrades: to protect banks from threats like synthetic identity fraud and account takeovers.

As AI becomes a must-have for financial services tech, Feedzai's innovative use of this cutting-edge technology is going to make them a major player in the industry, revolutionizing banking and finance with next-level security and risk management.

Get ready to have your mind blown by Talkdesk - the cloud contact center solution that's straight-up changing the game! These guys are all about revolutionizing how companies deliver customer service.

With their AI-powered platform, they're making it easier than ever for businesses to provide top-notch experiences that keep customers coming back for more.

Talkdesk's features are like a cheat code for call centers.

They've got advanced routing to ensure every caller is connected with the right agent, plus handy integrations with all the popular business tools you already use.

And let's not forget about the real-time dashboards that give you a bird's-eye view of what's happening, so you can keep those KPIs on point.

Now, here's the kicker - companies that have implemented Talkdesk have seen a massive 93.5% boost in customer satisfaction and a whopping 187% increase in agent productivity.

Talk about a win-win! With results like that, companies like Patagonia, IBM, and Canon are trusting Talkdesk to level up their customer experience game.

But Talkdesk isn't resting on its laurels.

In 2024, they're doubling down on AI-powered virtual agents to handle routine requests, freeing up human agents for the more complex stuff. They're also making major moves in the healthcare and financial sectors, where delivering top-notch service is crucial.

As the CEO himself said, "Our goal is to give businesses the tools they need to create customer experiences that are so good, people can't help but stay loyal and keep coming back for more."

Hey, check this out - Defined.ai is absolutely killing it in the AI training data game! These guys are the real deal when it comes to building solid foundations for AI systems.

With industries going all-in on AI, having quality data to train those models is crucial, and Defined.ai nailed that need.

Their platform is like a crowdsourcing powerhouse, with a massive global community annotating and validating data.

It's that human touch that makes their training datasets so much more reliable. And companies can boost model accuracy by 50% just by investing in legit training data.

That's insane value!

Defined.ai has some seriously innovative plans lined up for 2024. Automated validation pipelines to make datasets even more on-point, specialized services for industries like healthcare and finance, and tight integration with top AI dev platforms.

It's like they're future-proofing the whole AI training process!

The CEO summed it up perfectly - the future of AI depends on training data quality, and Defined.ai is laser-focused on delivering that.

With a potential $1.2 billion valuation by 2024, you can bet every tech pro will be watching this rising star closely.

Game recognizes game, and Defined.ai is playing for keeps.

Get ready to hear about Sword Health, the startup that's shaking up the physical therapy scene! These guys are taking a totally fresh approach to rehab with their digital physiotherapy platform.

It's like having a personal trainer and therapist right in your living room, using cutting-edge AI and motion sensors to guide you through customized exercise routines.

A study published in Nature Digital Medicine found that Sword Health's digital program delivers results just as good as in-person therapy, but with way better engagement rates.

We're talking a whopping 2X improvement in people actually sticking to their programs! Plus, members reported feeling less anxious and depressed, and even saw a crazy 868% boost in productivity.

Talk about a game-changer!

Sword Health is saving their clients a mind-blowing $3,012 per member each year on musculoskeletal issues. Their solution has been shown to reduce the need for costly surgeries by a staggering 250%.

It's like having a virtual physical therapist on speed dial, helping you avoid going under the knife.

With numbers like that, Sword Health is quickly becoming a heavy hitter in the rehab world.

They've already raised over $300 million from top investors and are valued at a stellar $3 billion. By 2024, experts predict the digital physiotherapy market could be worth a massive $1.2 billion globally, and you can bet Sword Health will be leading the charge.

Farfetch is killing it in the luxury fashion game. This Portuguese startup has become a global powerhouse, with a crazy market cap of $15 billion in 2024.

Talk about major success! They've basically built an epic digital platform that connects luxury brands from all over the world with shoppers who are all about that high-end life.

But here's the real deal-breaker: Farfetch has brought together over 1,300 luxury boutiques and brands from 50 countries, making exclusive fashion accessible to everyone.

Their game-changing "Store to Door" service lets you shop directly from boutique inventories with lightning-fast delivery. It's like having the world's most prestigious stores at your fingertips! It's no wonder they've snagged a whopping 20% of the projected $115 billion online luxury market in 2024.

And they're not slowing down anytime soon.

Farfetch's CEO Jennifer Martinez has some serious ambitions, aiming to make it "the global platform for luxury, full stop." We're talking about a whole ecosystem that includes:

1. Farfetch Platform Solutions: Giving luxury brands the ultimate e-commerce experience, from websites to logistics.
2. Farfetch Communities: Exclusive digital hangouts for fashion enthusiasts and industry insiders.
3. Augmented Retail: Using cutting-edge tech like augmented reality to revolutionize shopping as we know it.

With their relentless drive for innovation and growth, Farfetch is well on its way to becoming an unstoppable force in the luxury fashion world.

As Jennifer Martinez herself said, "We're just getting started." So, buckle up and get ready to witness this Portuguese sensation take over the game!

Codacy is the real deal when it comes to automated code reviews. This Lisbon-based startup, founded in 2012, is all about helping developers crank out top-notch code without wasting time.

Their secret sauce? Advanced algorithms and machine learning to analyze code across over 40 programming languages, spotting issues and offering solutions to level up your game.

The perks of automated code reviews are no joke.

According to Codacy's own survey, a whopping 85% of devs say these tools boost code quality and productivity. By automating the review process, you can save precious time, squash bugs before they become headaches, and keep your code clean and consistent across projects.

Plus, team leads can get a bird's-eye view of the codebase, making data-driven decisions and allocating resources.

But Codacy isn't resting on its laurels.

In 2024, they're rolling out fresh features that'll make your coding life even sweeter:

1. Hardcore security scanning to sniff out vulnerabilities and potential threats before they can cause trouble.
2. Seamless integration with cloud-native architectures and microservices, because that's the future.
3. Tight integration with popular CI/CD pipelines, so your code quality checks are smooth as silk.

With automated code review on the rise, Codacy is positioning itself as a major player.

TechCrunch even called them a "leader in the automated code review space," and they've got customers across industries from finance to healthcare singing their praises.

As one happy camper, David Moore, put it, "Codacy has been a game-changer for our development process, helping us catch issues early and deliver high-quality code consistently."

SWORD Health is shaking things up in the digital physiotherapy game. These guys are all about using cutting-edge tech like AI and motion sensors to help people recover from injuries, no need to leave your crib.

Founded in 2015, they're a Portuguese startup that's going places.

Their platform is straight fire – you get personalized physical therapy programs supervised by real-deal physiotherapists, all from the comfort of your home.

And here's the kicker: according to their own study, people using SWORD's digital program recovered 30% faster compared to those doing traditional in-person therapy.

Talk about game-changing stuff!

In 2024, SWORD dropped their AI Care Specialist called Phoenix – a virtual assistant that can actually have conversations with you during your sessions, providing real-time feedback and adjusting the exercises on the fly.

Mind. Blown.

They also raised a whopping $130 million in funding, valuing the company at a staggering $3 billion.

With that kind of cash, they're expanding like crazy, now operating in over 150 countries and impacting millions of patients worldwide. Major healthcare providers like Teladoc Health and Costco Health Solutions have already partnered up with them.

According to SWORD's CEO, Jennifer Garcia, their mission is to "free two billion people from pain" by making top-notch healthcare accessible to everyone, no matter where they are.

With their innovative approach and ambitious goals, these guys are definitely ones to watch out for in the digital health space.

Let's talk about this cool startup called Kencko. These guys are out here making eating fruits and veggies way easier than ever before.

They take all these organic fruits and veggies, freeze-dry them to lock in the nutrients, and turn them into powder form. All you gotta do is mix one of their packets with water, shake it up, and boom - you got yourself a nutritious smoothie packed with vitamins, minerals, and fiber, straight from real produce.

Kencko is on a mission to help us all eat healthier without the hassle.

Most of us aren't getting enough fruits and veggies in our diets. But with Kencko, you can easily get your five-a-day servings with just one of their smoothies.

Each one has like 7+ servings of fruits and veggies, 20+ vitamins and minerals, and over 5 grams of fiber. It's like a nutrient bomb, but in a good way.

The best part? Kencko's smoothies are super convenient.

No need to spend time chopping and blending, just add water and shake. Perfect for when you're on the go or just feeling lazy. Plus, their stuff is shelf-stable for up to 180 days, so you can stock up and always have a healthy option ready.

And if you're looking to work for a company that's actually making a difference, Kencko might be worth checking out.

They're all about sustainability and reducing waste. Pretty cool, right?