Portugal news - Portuguese deep tech startup Bandora just raised 1.5 million seed capital.
Deep tech startup Bandora, that is headquartered in Porto, uses AI to reprogram Building Automation Systems and improve the energy management of buildings.
Tech startup Bandora has just completed a seed investment round raising 1.5 million euros, led by BlueCrow Capital with Portuguese public venture capital firm Portugal Ventures. With this new investment round, the amount raised from private venture capital funds by startup Bandora reaches 1.6 million euros.
Bandora, that was incubated at UPTECH, aims to multiply its turnover by 10 times in 2024 and is hiring to increase its number of employees from 12 to 23. The company already employs a team of AI experts who worked on the research and development of tech solutions for Building energy simulation, automation and control.
Deep tech startup Bandora, that enables the digital transformation of buildings by making them 100% autonomous, already has a presence in Portugal, Spain, the United Arab Emirates and Brazil. The company intends to increase its export markets with a development strategy that involves optimizing 600 buildings and expanding to new markets in Europe and Latin America, including the Dominican Republic and Colombia. To increase this reach, the startup plans to create the Bandora Academy for partners, agents and resellers who are interested in selling Bandora solutions to their end customers.
Portuguese deeptech startup Bandora won the local phase of the Zurich Innovation Championship in April 2024, a competition that had 3,300 entries worldwide. By improving energy efficiency levels in buildings, Bandora will be contributing to a more sustainable environment.
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