Indico invests €4.4M in 5 startups
Portugal’s venture capital company Indico Capital Partners has invested €4 million in five startups – Famedrop, Data4Deals, Ittinsect, Inclita Seaweed Solutions and Biomimetx.
Two are linked to Artificial Intelligence (AI) and three with oceans protection who will get the investment through Indico Founders Program Powered by Google for Startups.
The five startups join the digital real estate startup Relive in the group of companies that have been accepted in 2022 on the programme partnered by Google and Indico and which this year received 292 applications for funding.
In the first year the programme selected seven companies from among the 171 who had applied in 2021.
For the very first time this edition has companies taking part whose activities are linked to the oceans with funding through Indico Blue Fund which has a total of €50 million, in combination with investment from the Indico Acceleration Fund in the other startups.
According to Indico Capital Partners’ managing general partner Stephan Morais “all of the six companies have great potential and we are really happy to begin investing in companies that could have a positive impact on the oceans and therefore on the climate change we are facing”.