Indico Commits $4.6M to 5 Startups – 2 Related to AI and 3 to the Blue Economy

BioMimetx is a biotech startup focused on the development of “biofouling” solutions. Current antifouling solutions offered on the market are made of up to 67% copper oxide, all of which leaches into the sea with evident consequences. BioMimetx developed a non-toxic, biodegradable antifouling solution with great efficiency that is applicable across a broad range of needs from aquaculture to watercraft coating. Indico co-lead the €500 thousand round.

Stephan Morais, Managing General Partner of Indico commented: ”We are very happy to welcome these entrepreneurs to the Indico Founders Program. All six companies have great potential and we are particularly happy to start investing in companies that can have a positive impact in the oceans and hence in the climate change crisis we are facing.”

Bernardo Correia, Country Director of Google Portugal mentioned that “It is a great pleasure to support another batch of this Indico program supported by Google for Startups. The emergence of ocean tech is perfectly aligned with our values and vision of a sustainable future and we are happy ocean related companies are part of the program.”

Patrick Freire, Founder, Executive Director and COO of BioMimetx said: “BioMimetx created an innovative and sustainable approach to control biofouling, and for this, we received €1.5M in support grants from the EU through the SME Instrument and the EEA Grants, among others. We are thrilled to be part of the Indico Founders Program and to have on board the experienced Indico Team through this new round of €500k, that will allow us to achieve a faster commercial launch of this Blue technology into the world.”

The co-founder and COO of Framedrop, Mário Tarouca stated that “As co-founders of Framedrop, our goal is to help content creators leverage live-created content and monetize it off-stream. We are excited to join the Indico Founders Program and benefit from the expertise and resources they provide as we work towards our goal of helping creators grow their communities and monetize their content”, commented.

Indico’s funds now count with over €40 million committed in 34 portfolio companies, which have jointly raised more than €1.7 billion from investors since 2019. The Indico Founders Program is now in its third edition. Powered by Google for Startups, this complementary growth program for Founders at the pre-seed stage and beyond provides access to capital, mentorship, talent and infrastructure. Indico will continue to be committed to investing in the most globally promising Portuguese and Spanish companies within the realms of tech and sustainability.

About Indico Capital Partners

Indico Capital Partners is a leading independent Venture Capital fund manager based in Portugal, investing in Iberian based global and sustainable technology companies. Indico funds invest in web3, software as a service, marketplaces, artificial intelligence, internet of things, fintech, cybersecurity and ocean related companies. Indico´s range of investments goes, mostly, from Pre-Seed to Series B (100k and 10M euros) in Portuguese and Spanish startups. Indico is often the first investor in a startup and, given the teams´ backgrounds, works very closely with portfolio companies. Since 2019, Indico has invested 40 million euros in 34 companies, which have raised more than 1.7 billion euros from global investors.