Portugal Ventures invests €5.3 million in tourism startups

 In News, Start-Up, Venture Capital

In the first quarter of 2024, publicly owned venture capital company Portugal Ventures invested €5.3 million in tourism start-ups as part of its campaign Call Turismo+Growth, an initiative from the Portuguese development bank Banco Português de Fomento in partnership with Portugal’s tourism agency Turismo de Portugal and Nest – Innovation Centre for Tourism.

The startups involved are: Batardas, Circular Unity, Neptune, Yon Living, and Your Tours.
“These new investments that will now strengthen our tourism portfolio are for innovative startups in their segment linked to tourism and other sectors that are absolutely fundamental for current economic development, such is the case with foodstuffs, nautical, technology and sustainability segments.
This capacity to create synergies and support the best startups in each sector is the way ahead for the future of a sector that is stronger and more dynamic, and meets the needs of an emerging market”, said Pedro de Mello Breyner, the executive director of Portugal Ventures in a communiqué.
The Call Turismo+Crescimento programme will invest in projects and companies that contribute to “increasing competitiveness in terms of Portugal’s tourism offer, improve the tourist experience in Portugal, and promote efficiency in sector companies.”