Portugal Startup News

Nearly 200 startups that participated in Web Summit’s 2024 startup program raised $715.5 million after the event, with AI startups alone attracting $334.6 million – a 360% increase compared to last year, according to the Web Summit x Crunchbase 2025 Funding Report. 

The report, based on data from Crunchbase’s analytics platform and Web Summit participation records, shows that AI and machine learning were the most funded sector among Web Summit 2024 startups. 

Other funded companies operate in SaaS, fintech, sustainability and cleantech, healthtech and wellness, energy and utilities, advertising and marketing, e-commerce and retail, telecommunications and IT, and education. 

Beyond post-event funding, the report notes a broader capital trend: 332 companies that attended Web Summit 2024, including startups, speakers, and partners, have collectively raised $128.8 billion since last year’s event. This total is more than double the $60.6 billion raised by companies after the 2023 edition.

Record investor turnout in 2025

The funding report was released alongside Web Summit’s main attendance figures for 2025. According to organizers, 71,386 attendees from 157 countries are in Lisbon this week, from November 10 to 13. 

Web Summit states that a record 1,857 investors from 86 countries are taking part this year, a 74% increase from last year. On the exhibition floor, 2,725 startups from 108 countries are present, with AI being the most represented industry.

Web Summit also highlights that 40% of exhibiting startups are women-founded. In addition, the event reports the presence of 268 government and trade delegations from 82 countries. 

On opening night, Web Summit CEO Paddy Cosgrave spoke about how fast the technology landscape is evolving and looked back at earlier editions of the event. 

He referenced Revolut, which first attended Web Summit as an early-stage startup, saying, “It’s been 10 years since a tiny three person startup called Revolut showed up at Web Summit. Today Revolut is Europe’s most valuable private tech company.”

According to Revolut’s 2024 annual report, the global financial technology company completed a record secondary share sale at a share price that implied a $45 billion valuation, establishing it as “the most valuable private technology company in Europe.”

The CEO of Web Summit suggested that similar early-stage companies could be present again this year and encouraged attendees to meet the startups on the show floor. 

The 2025 edition introduces two new tracks: China Summit, focused on collaboration between Asian and global markets, and Future of Media Summit, an exclusive gathering which brings together leading editors and reporters to examine how technology is reshaping news organizations and media workflows. 

Throughout the week, 869 speakers are scheduled on stage, and 400 curated meetups are taking place to connect founders, investors, and industry professionals based on shared objectives.

Featured image: Photo by Matthias Oberholzer on Unsplash