Lisbon-based applied AI startup Augusta Labs has closed its first investment round with participation from private equity and angel investors to help organizations solve operational challenges with custom-built AI products.
Although the company did not disclose the amount raised, it confirmed the round values Augusta Labs at €50 million, according to ECO.
The round includes backing from prominent figures in Portugal’s tech ecosystem, including Virgílio Bento, through EX Capital alongside the founding team of Sword Health, Diogo Mónica (Anchorage Digital), Paulo Rosado (OutSystems), and Nuno Sebastião (Feedzai).
Founded in 2024 by Rodrigo Fernandes and João Cerejeira, Augusta Labs builds applied AI systems aimed at helping enterprises transition into what it calls “AI-native” organizations.
Focus on private equity-driven transformation
The company says it has found its strongest traction with private equity firms, where it works on portfolio company transformation.
In comments to ECO, Fernandes, said the startup’s core focus is enterprise-wide AI transformation rather than point solutions.
“We found very strong product-market fit on the private equity side, to transform portfolio companies. It is where we concentrate most of our commercial effort,” Fernandes said, describing the company’s approach as a full redesign of how a business operates using AI.
According to him, the company focuses on end-to-end transformation of companies into AI-native organizations, based on reimagining how a business would be built today with all available technology and then turning that vision into reality.
Fernandes added that Augusta Labs works directly with executive leadership teams to redesign processes and revenue models, with a focus on measurable financial impact.
“In practice, we work side-by-side with the C-suite to design the future version of the company, reimagining processes and revenue lines, and then developing customized AI solutions, measuring value at each step,” he said. “Increasingly, this involves not only optimizing what already exists, but creating new sources of revenue.”
He noted that the company operates under a performance framework defined by its private equity clients, who evaluate its work based on EBITDA and enterprise value. This focus, he added, keeps the team centered on measurable outcomes that drive business results.
Growth and global ambitions
Fernandes said the startup is experiencing rapid growth, noting it is scaling “more than six times a year,” and that the new capital will accelerate both distribution and delivery.
On expansion strategy, he said the company is targeting international markets, particularly the United States and the United Kingdom.
“We want to massively accelerate distribution and delivery. The goal is to build the best AI-powered business transformation machine, and to expand aggressively globally while earning the deep trust of the right customers,” Fernandes said.
Hiring push and talent strategy
Augusta Labs also plans to significantly expand its team as it scales.
Fernandes noted that the company is prioritizing technical talent that is deeply familiar with modern AI tools and workflows.
“We need the best young technical talent in the country. Those who grew up with these tools often master them better and are more willing to experiment with new ways of working,” he said.
He added that traditional hiring models may no longer be sufficient for AI-driven companies.
“This challenge is not only ours. All companies will have to rethink how they recruit. Traditional processes based on CVs and academic credentials are becoming obsolete. What matters now is what each person can build with today’s tools,” Fernandes said.
He also indicated that the company is developing a new approach to identifying high performers in the AI era, with further details expected in the coming weeks.
Featured image: João Cerejeira (L) and Rodrigo Fernandes, co-founders of Augusta Labs (Photo courtesy of Augusta Labs/via ECO)
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