Sonae IM
Lugar do Espido, Via Norte, Maia, 4470-177, Portugal
Overview
Former Sonae IM, Bright Pixel Capital is a venture capital company with a global aim, financially driven and oriented to make businesses prosper. We have the power of transformational change across our DNA sectors: Cybersecurity, Retail Technologies, Digital Infrastructure and Emerging Technologies. Envisioned as the tech investment arm of Sonae Group, a Portuguese multinational with a diversified portfolio of innovative brands, Bright Pixel Capital has invested over 250M€ in the first 5 years in more than 50 direct investments, and will continue this path using our expertise to spot unique opportunities with the potential to change an industry. Working with Bright Pixel Capital means accessing a group of dedicated and experienced professionals, with incomparable knowledge of each investment vertical.
- Total investments
- 52
- Lead investments
- 24
- Investments · 12mo
- 6
- Active investors
- 10
Sector focus
- Cloud Infrastructure
- Cyber Security
- Financial Services
- IT Infrastructure
- Telecommunications
- Venture Capital
Investment portfolio
- Theker
Participated · Series A · Jun 2026
Theker develops AI-native generalist robots designed to operate autonomously and adapt in real time to changing industrial environments. Its technology targets industries such as logistics, retail, food and beverage, and waste management and is being deployed to address labour shortages in manufacturing and retail. The company positions its robots as a new category compared with traditional rigid, task-specific industrial robots. Founded in 2022 and based in Barcelona, Theker has raised €18 million in seed funding and an $85 million Series A. The firm plans to use the new capital to accelerate deployments with industrial operators, deepen its proprietary AI and robotics stack, and expand engineering and deployment teams.
- Encord
Participated · Series C · Feb 2026
Encord builds a universal data layer for AI, concentrating on physical AI applications such as robots, autonomous vehicles, and drones. Its cloud platform ingests and organizes multimodal data—including audio, video, sensor feeds, and 3D point clouds—so teams can curate, annotate, and align datasets across the model lifecycle. The company serves more than 300 customers worldwide, among them Woven by Toyota, Zipline, Skydio, and AXA Financial. Over the last twelve months, data stored on Encord’s platform expanded from 1 PB to over 5 PB, while revenue from physical AI customers grew ten-fold. Analysts project an explosion in physical AI deployments, and Encord positions itself as the infrastructure that readies proprietary data for these systems. The newly raised funds will accelerate product development and support entry into additional markets. With the latest round, Encord’s total funding stands at $110 million.
- Mesh Security
Participated · Series A · Jan 2026
Mesh Security has developed what it calls the first Cybersecurity Mesh Architecture (CSMA) platform, acting as an execution layer that sits above and connects existing identity, endpoint, data, cloud, SaaS, network and CI/CD security tools. Operating without agents or rip-and-replace requirements, the platform consolidates visibility, context and control so security teams can move from manual, tool-specific operations to system-driven exposure elimination. Deployed in complex production environments, Mesh already integrates with leading security vendors such as SentinelOne and is used by enterprises like Paychex to identify and close critical security gaps. Gartner’s CSMA framework is driving board-level demand for this type of “platformization,” and Mesh aims to capitalize on that momentum. The newly raised capital will fund further development of autonomous, cross-domain remediation capabilities and expand sales and customer support. Headquartered in Palo Alto with operations in Tel Aviv, the company is focused on enabling security teams to execute rather than simply observe threats.
- Second Nature
Participated · Series B · Oct 2025
Second Nature has built a conversational AI platform that ingests a company’s recorded calls, scripts and collateral to create lifelike role-plays for sales and customer-service training. Reps practice with AI avatars that handle objections, diverse customer moods and multiple languages, then receive targeted feedback against customizable metrics. Customers typically launch their first scenarios within an hour and have seen sales rise more than 20 % after only 30 minutes of practice per trainee, while onboarding cycles have been cut by as much as three weeks. Specific results include GoHealth trimming onboarding time by 33 % and Zoom more than doubling monthly sales opportunities from 2.78 to over 6. The system supports 20+ languages and is used by brands such as Oracle, Adobe, Teleperformance, Check Point and Zoom. Founded in 2019 by Ariel Hitron and Alon Shalita, the company positions itself to evolve from training software to next-generation AI sales agents. The newly raised capital will fund product expansion and deeper technology development.
- Duel
Led · Series A · Sep 2025
Duel offers an Advocate Relationship Management platform that lets retail brands such as Lush, ELEMIS, Victoria’s Secret, and Abercrombie & Fitch recruit, activate, and manage large networks of customer-advocates, creators, and ambassadors in a single system of record. The software tracks, rewards, and scales authentic advocacy behaviors, giving brands a measurable, always-on alternative to traditional performance advertising. Duel’s product roadmap includes deeper enterprise AI capabilities to automate the identification, segmentation, and activation of brand fans with hyper-personalized experiences. Fresh Series A capital will support the company’s U.S. expansion following its recent move into New York and fuel category thought-leadership through its Building Brand Advocacy podcast and community. Long term, Duel aims to establish Brand Advocacy as the default growth strategy not only in retail but also in sectors like B2B, music, hospitality, professional services, and entertainment. The company reports that 20–33% of a typical brand’s customers are already active creators and that its platform can manage tens of thousands of advocates with the resources traditionally needed for only a few hundred. Including the new round, Duel has raised more than $21 million to date.