Vawlt raised 550,000 euros in a new funding round

January 21, 2021

Lisbon, 21st January 2021. Vawlt Technologies raised 550 thousand euros in a new funding round from current investor Armilar Venture Partners, who thus reinforces its investment, and from new investors Shilling Capital Partners and Carlos Brazão, a former international Cisco executive. The new funding will be used to expand the product and business development teams as the company will shortly announce relevant partnerships and aims to add new features to its Dynamic Storage Platform.

With this new funding round, the company strengthens its shareholder structure and its management team with investors and managers with proven international experience. Vawlt also announces that the co-founder Ricardo Mendes will assume the role of CEO in this new phase of the company.

Vawlt's solution enables companies to simplify data storage in multiple clouds in an economically-efficient way with security and reliability levels that are unmatched in the market. All this while ensuring the control and visibility over the data and over who can access it. Its Dynamic Storage Platform allows customers to adapt the data storage configurations to their needs regardless of their use-cases, from the storage of collaboration files to their archival, backup, and more.

"Vawlt is undoubtedly in a good moment and with great prospectives for the future. This investment further reinforces that. The whole team is just as enthused as it was on the first day, but now armed with more experience and insight. I am confident that our solution will be one of the most relevant to consider when moving data to the cloud. Our experience with Armilar has been excellent, and it is with great excitement that we now have Shilling Capital Partners and Carlos Brazão onboard. Their knowledge and expertise will surely help us overcome challenges and achieve our goals.", states Ricardo Mendes, CEO and co-founder of Vawlt Technologies.

Pedro Ribeiro Santos, partner at Armilar Venture Partners, notes that "the progress that Vawlt has made over the last twenty months since the Armilar fund first invested in the company, is truly remarkable. At the time, Vawlt had just spun-off from the Faculty of Sciences of the University of Lisbon to turn the technology that it had developed there into a commercial product that did not yet exist. Since then, not only did Vawlt create that product, incorporating in it the needs that it identified working with customers, but it also successfully brought that product to the market. This is a great example of the value that can be created from technologies in their raw state. It is with great pride that we see that value confirmed by the capability to attract new investors, whom we’re thrilled to welcome into the team and who will surely contribute to Vawlt’s success”.

For Pedro Ramalho Carlos, Shilling's partner, "Vawlt clearly fits Shilling Founders Fund's strategy to invest in disruptive technology ventures, launched by a solid and ambitious founding team, with a globally scalable product and business model. Vawlt developed a solid solution to tackle a problem that many companies face: secure, resilient access to their confidential and proprietary information in a multi-cloud environment. Moreover, they offer this solution with competitive and controlled management costs. Shilling Founders Fund is proud to join a list of strong investors to help accelerate Vawlt's growth.”

"Vawlt is at the forefront of the great transition to the cloud, enabling companies to accelerate this transition with enduring economic and security benefits. At the same time, it opens new cloud go-to-market avenues to the ICT industry. Thus, Vawlt has everything to reach a prominent role in the global transition to the cloud and multi-cloud environments”, says the former Cisco executive Carlos Brazão.


About Vawlt Technologies, SA

Vawlt Technologies SA is a start-up in the field of cloud storage with a specific focus on cybersecurity and ease of use. The Vawlt solution is built on top of a unique technology that results from more than a decade of internationally recognized academic research. The Dynamic Storage Platform enables companies to store data in multiple clouds in a simple, safe and efficient way without compromising control over the data while ensuring unmatched levels of privacy and availability. Vawlt's vision is to be an unavoidable solution in the movement of data to the clouds, thus enabling companies to increase their security and efficiency standards without compromising their focus on the business. To find out more, go to:


About Armilar Venture Partners SGFCR, SA

Armilar Venture Partners is Portugal’s leading venture capital funds manager. An independent VC with a 20-year-old history, a high-performance track record and an international footprint, Armilar is a deep-tech investor, investing in ICT, HealthTech and CleanTech with a focus on early-stage technology-based companies. Currently, Armilar has a total of about €260 million under management, with five funds deployed typically as lead investor in seed to early-stage deals in companies in Portugal, Europe, and the USA. To find out more, please go to


About Shilling Capital Partners

Shilling is a leading early-stage VC in Portugal. Exclusively backed by private capital, in the last decade Shilling has invested in breakthrough startups like Uniplaces, Unbabel, Bizay, and Barkyn and got exits to the likes of TripAdvisor and others. With a multi-faceted, complementary team of successful founders and operators, Shilling invests in a wide range of verticals and seek out the biggest opportunities across all B2B and consumer software categories, especially those we know best: SaaS, marketplaces, digital health and Future of Work. Leveraging the concept of Founder LPs, Shilling brings much more than capital and adds a 360º perspective, offering its portfolio companies direct access to successful founders and executives of leading companies. This platform supports entrepreneurs in validating and developing their ventures, which then accelerate their growth into global markets, with the support of Shilling's network of top international co-investors.


The Armilar Venture Partners TechTransfer Fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. The fund is also co-financed by Fundo de Capital e Quase Capital (FC&QC), managed by Banco Português de Fomento, S.A.


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