Startups in Lisbon raised €333 million in 2022

There are still a few weeks until the end of 2022, and the startup ecosystem in Lisbon has already raised €333 million this year, a figure substantially above the €96.8 million raised in 2021, according to the study “The State of Lisbon’s Startup Ecosystem 2022”, made by the Dealroom for Lisbon City Council. In the overall, the ecosystem is worth €21.4 billion.

Despite the cooling in the capital market, the startup ecosystem in Lisbon has already raised €333 million. The study points out that the figure is “3.2 times more than in 2021 and represents a record of investment by funds in Lisbon-based startups.”

The Lisbon startup ecosystem is comprised of over 1,400 startups founded, headquartered or with a presence in the Lisbon Metropolitan Area. Therefore, the spike is happening mainly because some startups have raised their first rounds above Series C. According to Dealroom, Power Dot alone has raised €150 million and FRVR has raised €69 million in funding. Up until now, it has reached €114 million, a figure above the €97 million raised in 2021.

Impact startups in Lisbon also raised a record amount this year: €7.8 million, 3.1 times more than in 2020. In this movement, international investment funds have played a significant role in the ecosystem, accounting for over 80% of total investment and more than half (70%) of total rounds this year. However, Dealroom also pointed out that “local investors – such as Shilling, Indico, Maze, Faber, Alpac, Armilar – have been gaining relevance, having already raised 77 million in new funds this year”.

Portugal offers several captivating routes for those looking to relocate to the country. The Startup Visa is a residence visa which aims to attract investment, talent and innovation capacity to Portugal. The programme focuses on entrepreneurs from outside the European Union, both those already owning or considering launching a startup but aiming to set it up and grow it in Portugal.

The programme was created by Agência para a Competitividade e Inovação (IAPMEI) and regulated by the Ministry of Economy and Internal Affairs of Portugal and includes the National Network of Incubators within the whole territory.

Applicants can apply through the online platform and the Incubators will receive the projects that are considered relevant in their evaluation and criteria. The procedure will be supervised by the IAPMEI, and the application's final decision will take a maximum period of 30 working days from its submission.