TechTree invests €5 million

 In Companies, News

CTT’s investment fund TechTree has invested €5 million in two startups in the Operations and Logistics area.

CTT (the postal and financial services company) says that this investment will reinforce the link and support to Portugal’s companies network and boost innovation.
TechTree was launched by CTT to support innovation in Portuguese SMEs and startups. The fund has been entirely financed by the CTT Group and is managed by Iberis Capital which specialises in fund management with a broad portfolio of start-ups and SMEs.
The CTT investment fund invested in the start-up KIT-AR, in the augmented reality area for industrial production, and in Sensefinity, in the logistics area. The CTT investment fund has been involved in a Series A investment round for KIT-AR.
João Bento, CEO of CTT said, “The investment made in these two promising startups has achieved what the creation of TechTree fund set out to do”.
“KIT-AR and Sensefinity can contribute towards greater efficiency in CTT activities and we’re really pleased to be working with these two companies”.
In a communiqué, CTT says that the “operationalising and monitoring of the two investments made now and those in the future will be undertaken through the 1.520 StartuProgram.
The programme develops and funds national startups while at the same time contributing towards the development of its own ecosystem.
Since its creation the program has mapped over 1,800 companies and currently has 29 ongoing projects, 12 in commercial partnerships, 17 in co-creation projects (4 in pilot and 13 in production), and 1 acquisition – Recibos Online.