Lince Capital heads ‘supercloud’ investment of €2.15M in Vawlt

Portuguese venture capital company Lince Capital, led by Vasco Pereira Coutinho, which has investments in scaleups such as Sensei, Kencko, Bizay, Leadzai and Bhout, has led an investment round in Portuguese cybersecurity startup Vawlt.

Vawlt Technologies was founded in May 2019 by Ricardo Mendes, Tiago Oliveira, Alysson Bessani and Bruno Santos Amaro, all engineers by training in different fields; automation, systems, and IT engineering, as a spin off from Lisbon University’s Faculty of Engineering.
Vawlt, which developed a solution for storing data long term in supercloud or ‘cloud of clouds’, rapidly attracted the attention of investors like the VCs Shilling VC and Armilar Venture Partners, both among the main venture capital fund managers in Portugal.
Vawlt has now raised €1.25 million in a seed investment round, having raised a total of €3 million of investment.
The round involved the participation of three new investors: Lince Capital, which led the round, Basinghall and Beta Capital according to Lince in a communiqué on March 12.
Also participating in the round were pre-existing investors Armilar and Shilling, as well as additional investment from two former CISCO executives and OVHCloud.
The money raised will be used by Vawlt in the execution and expansion of the company’s innovation strategy for its products at a global level, making storage in super cloud a reality for its clients, and boosting support to the network of partners on the channel.
Vawlt is also planning to reinforce its team in areas such as business and product development while by the end of the year the startup aims to double its staff compliment currently standing at seven, to around 20 professionals.