Critical TechWorks leads the national ranking of scaleups with the most impact on the industry

The seventh "Scaleup Portugal” report, released by BGI — Building Global Innovators, positioned Critical TechWorks at the top of the 2023 ranking. This subsidiary of the multinational automotive company BMW was responsible for raising 275 million euros in the local economy along with 24 other companies, an increase of 41% compared to the previous year.

According to the disclosed data, in addition to the positive economic impact, Critical TechWorks is part of the list of corporate startups responsible for creating 45% of the jobs that contribute to boosting the industrial landscape and shaping the economic future.

Of the total revenues from the sample, which comprises over 700 million euros, the Top 25 companies were responsible for generating almost 530 million euros between the years 2018 and 2022. A significant portion of the raised capital (about 90%) came from venture capital funds and approximately 9% from individual investors. France stood out as the economic powerhouse as it invested the biggest slice of capital (68%).

These 25 companies were selected from a pool of 413 tech startups/ scaleups founded between 2018 and 2022. The selection process considered criteria such as raised capital, revenues, capital-revenue ratio, number of jobs created, and time of activity in the market.

Learn more about the report here.