Addvolt and Knok on the podium of Portugal’s fastest-growing technology companies

Addvolt e Knok UPTEC

The technology companies Addvolt e Knok – UPTEC graduated companies – are part of the 50 companies with an aggregate turnover of more than 550 million euros and an average growth of 400 per cent.

Addvolt and Knok are the second and third technology companies with the highest annual revenue growth over the last four years. The graduated companies from UPTEC – Science and Technology Park of University of Porto are part of the 50 companies with an aggregate aggregate turnover of more than 550 million euros, according to the ‘Deloitte Technology Fast 50 Portugal’, a new ranking by the consultancy released at the end of this year.

The ranking, which analyses the period between 2019 and 2022, identifies and profiles the 50 technology companies with a presence in Portugal that generated an aggregate turnover of more than 550 million euros and 250 million euros in exports, registering an average growth of 400% and the number of employees of 141%. In percentage terms, turnover represents 265% more than before the Covid-19 pandemic and a 179% increase in exports.

Addvolt, a U.Porto spin-off created by alums from FEUP – U.Porto’s Faculty of Engineering, develops clean energy solutions to transportation, turning every vehicle smarter and more sustainable by reducing diesel consumption, CO2 emissions, noise and maintenance costs. Bruno Azevedo, CEO and founder of the startup, reveals his enthusiasm for the result, which “reflects the strong dedication, commitment and work capacity of the Addvolt team over the last ten years. We founded the company at 23, based on a large hardware component solution for a very experienced market. Today, with an average age of 33, the team has even more energy to work with commitment, dedication and innovation on solutions to increase energy efficiency in freight transport worldwide,” he says.

Founded by José Bastos, an alumnus of FEP – School of Economics and Management of the U.Porto and Porto Business School, knok offers patients and healthcare providers telemedicine and digital health solutions. “For Knok, this recognition means much more than business success; it proves that we are on the right track to bring high-quality healthcare to everyone, everywhere. To keep up the growth momentum, our first client in the UK will start in January 2024, and we’ll have more news soon,” the CEO and founder emphasises.

In addition to the UPTEC graduated companies, also featured prominently in this ranking. Daniela Braga, CEO of the company based at UPTEC, won in theWomen in Leadership” category of the ‘Deloitte Technology Fast 50 Portugal’.

Technology Fast 50 2023: Deloitte Portugal recognises technology companies

The ranking led by Sword Health also includes Dreamshaper,, Barkyn, Jscrambler, RedShift and Tangível, all companies from the UPTEC community.

The ‘Deloitte Technology Fast 50 Portugal’ is designed to recognise companies in the technology sector with the greatest capacity for innovation, a vision of the future and a focus on solving some of the world’s biggest problems. Deloitte also emphasises that these are companies that practically didn’t exist and that, in aggregate, already have some significance for the national economy, with very positive results.

December 30th of 2023

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