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The Venture Codex

Armilar Venture Partners

Rua Tierno Galvan, Amoreiras, Torre 3, piso 17, Lisboa, 1070-274, Portugal

Overview

Armilar Venture Partners is a venture capital firm, with near 300 million euros of assets under management, represented by worldwide companies with innovative products and services that are improving our world, the way we live, and the way we do business.

Total investments
33
Lead investments
13
Investments · 12mo
3
Active investors
8

Sector focus

  • Business Development
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Neuraspace

    Participated · Series B · Aug 2026

    Founded in 2020 by Chiara Manfletti in Portugal, Neuraspace builds an AI-enabled platform that combines data from commercial and sovereign sensors with high-precision orbit determination, AI-enabled risk and threat assessment, and autonomous decision support. The platform is designed to detect, assess and respond to collision risks, cyber threats, GNSS spoofing and jamming, radio-frequency interference and other emerging space security challenges. Neuraspace serves commercial, institutional and defence satellite operators and has expanded its mission to address both accidental and intentional threats as the line between safety and security narrows. The company is investing in proprietary optical sensing infrastructure and a dual-use product, NeuraspaceDEF, for government and defence customers. Its recent €15.6M financing will accelerate development of its AI platform, autonomous mission operations and expansion of its sensing and operational capabilities.

  • DOJO AI

    Led · Seed · Apr 2026

    DOJO AI offers an agentic marketing platform centered on a proprietary "DOJO Graph" knowledge layer that builds a dynamic digital twin of a customer’s marketing operations and competitive environment. The system continuously ingests campaign, SEO and market data to enable specialized AI agents to execute decisions, manage workflows, generate content and optimize outcomes across the marketing stack. Since launching in 2024, the company reports 20% month-over-month growth and serves over 100 customers across the U.S. and U.K., including CoinDesk, Morningstar, Broadvoice, PensionBee and Refine Labs. Customers have reported measurable results such as a 40% reduction in customer acquisition costs, faster campaign launches and improved marketing efficiency. Pricing starts at $499 per month with no contracts required. DOJO AI plans to expand its multi-agent capabilities to handle more complex use cases and further enhance its continuous learning infrastructure to compound performance improvements.

  • Trensition

    Led · Series A · Dec 2025

    Founded in 2019, Trendtracker provides an always-on, AI-powered strategic and foresight intelligence platform that continuously monitors global signals, scores and forecasts emerging trends, and links them to potential strategic impact. The system employs a predictive architecture and coordinated AI agents to deliver deterministic, explainable recommendations across political, economic, social, technological, legal and environmental dimensions. Enterprises and consultancies such as Siemens, PepsiCo, P&G, PwC, Arthur D. Little and Ageas rely on the platform to streamline strategic research, planning and risk assessment. Leadership describes the technology as an autonomous “strategic sparring partner” that augments executive judgment rather than replacing it. With fresh Series A capital, the company will enhance its multi-agent “AI Analyst” architecture to produce scenario-based forecasts and prescriptive actions with clear rationale. Additional funds will drive expansion in the United States and Middle East and deepen integrations with consulting firms, data providers and public-sector partners. The $7 million raise also supports hiring senior talent in AI, foresight, engineering and commercial roles, underscoring growing demand for tools that help organisations anticipate disruption.

  • Sword Health

    Participated · Equity · Jun 2025

    Sword Health is an AI-powered digital health company that began as a virtual physical therapist and has expanded into pelvic health and mental health services. Its core product includes an AI care specialist called Phoenix, which the company aims to extend to cardiovascular, gastroenterological, and speech therapy care verticals. Sword is cash-flow positive and reporting a $240 million annual revenue run rate. The company raised capital to update its valuation and to have funds available for strategic acquisitions. CEO Virgílio Bento is delaying near-term IPO plans until he can show proof points at scale across multiple care verticals. Sword plans a likely tender offer next month and expects to raise additional capital next year. Sword Health operates an AI Care platform that delivers clinician-informed, conversational and real-time feedback-driven care for back, joint and muscle pain and women's pelvic health. The company launched its first AI-based care solution in 2015 and has delivered over three million AI sessions to members to date, with availability to more than 10,000 employers across three continents. Sword recently introduced Phoenix, an AI Care Specialist that will be integrated across its platform beginning with Thrive (physical pain) and then Bloom (women’s pelvic health) during 2024. The firm says it nearly tripled revenue in the prior year and claims a 70% win rate in competitive evaluations while holding the majority of industry patents. Management frames Phoenix as the largest technology leap to date and part of plans to expand AI Care into new markets and categories. The company states its mission is to free two billion people from pain by scaling AI-powered access to high-quality care. Sword Health is a Porto-founded digital musculoskeletal therapy provider that pairs members with licensed physical therapists and a digital therapist and offers an FDA-listed device to address musculoskeletal (MSK) disorders. Launched in 2015, the company aims to reduce or eliminate MSK pain for members, self-insured employers, and health plans. Over the past year Sword reported a 20x increase in valuation and a 12x increase in client count. Financially, Sword closed an oversubscribed $163 million primary Series D and a $26 million secondary that pushed its valuation north of $2 billion, bringing total capital raised to $320 million. The company plans to use part of the funding to create 300 new positions primarily in operations, marketing, technology, and people management, and to continue developing and promoting its services. Investors and company leadership have pointed to Sword’s PT + Digital Therapist model and reported clinical outcomes as drivers of market acceptance and cost savings. SWORD Health provides a virtual musculoskeletal care platform that connects patients to telemedicine physical therapists and supplies tablets plus motion sensors to power a Digital Therapist that delivers real-time feedback. The Digital Therapist offers thousands of feedback messages and scores exercises, guiding regimens that typically take 20–25 minutes. The company sells to insurers, health systems, and employers across the United States, Europe, and Australia. Founded in 2015 and only 18 months in market, SWORD reports treated patients up 1,000% year over year and 600% year-over-year revenue growth. Management says it will reinvest gross profit into building the platform and plans to use new capital to grow the business rather than focus on near-term profitability. Sword Health offers a virtual musculoskeletal solution centered on its FDA-listed Digital Therapist, which connects in-house Doctors of Physical Therapy to members via wearable motion sensors and a tablet running an AI-powered therapeutic exercise program. The clinically proven platform delivers rehabilitation programs for chronic, acute, and post-surgical conditions across the lower back, shoulder, neck, knee, elbow, hip, ankle, wrist and lungs. Led by founder and CEO Virgilio Bento, the company plans to use the new capital to enhance product capabilities and expand industry partnerships. It aims to drive adoption across the benefits management ecosystem with employers, health plans and alliance partners. The company has raised a cumulative $50M to date. Sword Health raised $25M in a Series B to support these initiatives.

  • Automaise

    Participated · Series A · Mar 2025

    Automaise provides an all-in-one, low-code platform that combines conversational AI, back-office process optimisation, decision automation and automated workflows to improve customer service efficiency. Its Agentic AI agents enable customer self-service, augment human agents, and free staff to handle complex tasks. The platform uses deep learning architectures (LSTMs, CNNs, Transformers) plus transfer and active learning to handle structured and unstructured data. Automaise serves clients across retail, banking, insurance and telecommunications and claims productivity gains of up to 60% for customers. Financially, the company reported $3.1M revenue in 2024 (up from $2.2M in 2023 and $1.2M in 2021) and has a 35-person team. Future plans include expanding across Europe and the U.S. (initial targets: Germany, the UK, U.S. East Coast), hiring 30 new employees by end of 2025, and integrating generative AI features slated for Q4 2025.

Team