Fibersail, the winner of the Ocean Economy track in the last edition of the Building Global Innovators program (partnership between MIT Portugal and ISCTE), has secured an investment of € 200,000 from Caixa Capital, and was recently selected to join PortXl, the prestigious accelerator and innovation program of the port of Rotterdam. This program provides 100 days of intensive mentorship to 10 global startups and disruptive technologies, culminating in a pitch session to potential clients, business angels, venture capitalists and multinational companies.
Fibersail is a Portuguese startup dedicated to the development of a monitoring system for the structural condition of large structures, which are exposed to the elements of nature, and intends to prevent damage and potential accidents by increasing efficiency, real-time data analysis, especially for applications in the marine and offshore industry.
The software system consists in the use of fiber optic technology, using sensors combined with algorithms, that relays realtime information about the structural condition of a ship.
Stephan Morais, Executive Board Member of Caixa Capital, stated that “This seed investment is in line with our investment strategy of backing Portuguese early stage disruptive technologies with potential global reach".
Pedro Pinto, Founder and CEO of Fibersail, stated that “Having a partner with the track record of backing the best Portuguese startups like Caixa Capital at this early stage is a sign of confidence that is important to us. Caixa Capital has a great international network and significant capital so we have the right partner. Besides the investment, the acceptance in this acceleration program allows us to improve our skills as well as diversify the supply of our products in the largest port in Europe".
Caixa Capital – www.caixacapital.pt
Caixa Capital is the Private Equity and Venture Capital fund management company of Portugal´s largest banking group Caixa Geral de Depósitos, present in over 20 countries and with assets above 120 billion Euros. Caixa Capital is a pioneering operator in the Portuguese market, with 500 million Euros under management and a total potential capital of 700 million euros for its managed funds. Caixa Capital invests in growth equity and venture capital opportunities and funds.
The Venture Capital team partners with incubators, accelerators and business angels for seed and startup investments and with major international venture funds for opportunities above 1 million Euros. The team aims to support global expansion of Portugal related teams and companies and has dedicated team members to ICT, digital, health tech, engineering and cleantech investments.
Fibersail - www.fibersail.com
Fibersail is a Portuguese startup dedicated to the development of a monitoring system for the structural condition of larger structures, which are exposed to the elements of nature, and intends to prevent damage and potential accidents by increasing efficiency, real-time data, especially for applications in the marine and offshore industry.