Portugal Ventures invests in UPTEC startups: SpaceO and Windcredible

João Pedro Loureiro, fundador da SpaceO, e Filipe Fernandes, fundador da Windcredible.

João Pedro Loureiro, founder of  SpaceO, and Filipe Fernandes, founder of Windcredible.

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Portugal Ventures has announced the list of six companies selected for funding, which includes two startups incubated at UPTEC – The Science and Technology Park of the University of Porto: SpaceO and Windcredible. Portugal Ventures will invest €100,000 per project. 

SpaceO and Windcredible were two of the 85 applications received in this CALL INNOV-ID edition via the Portugal Ventures Ignition Partner Network, of which UPTEC is a part. 

This funding supports startups in growing their teams, speeding up production, or protecting intellectual property.

Spaceo focuses on solutions to keep space clean and on the removal of satellites after the end of their operational life. It is currently developing an inflatable device to generate drag, designed to significantly speed up the de-orbiting of satellites, thus making the cleaning of space junk up to 10 times faster. Based on its experience, the startup also provides engineering services to the European Space Agency in various technological areas, harnessing its team’s core capabilities and cutting-edge technology.

Windcredible develops and produces vertical axis wind turbines, a renewable energy technology that generates electricity from the wind. Windcredible has a patented design offering several benefits over traditional wind turbines, including the ability to generate energy efficiently, compatibility with urban environments, and suitability for integration into smart grids. A key advantage of VAWTs is their ability to create decentralised energy with low operating costs and minimal maintenance requirements, making them a cost-effective option for customers, especially compared to traditional energy sources.

Call INNOV-ID from Portugal Ventures: access to venture capital financing

In the four editions of the INNOV-ID Call, Portugal Ventures has received a total of 398 applications through its Ignition Partner Network, which was created in 2012 and currently has 127 organisations across the country, including incubators/accelerators, universities, technology centres, associations and town halls.

The venture capital company’s portfolio already included 21 companies with links to the University of Porto: Abyssal, Addvolt, Azitek, Bandora, Barkyn, Berd, Bioworld, Codavel, Corium Biotech, DefinedCrowd, Didimo, Doppio, Eptune Engineering, Immunethep, inSignals Neurotech, Jscrambler, Mice, Noocity, Probely, TonicApp and Wisify.

December 27th of 2023

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