The 2024 Web Summit in Lisbon attracted 71,528 attendees, including CEOs, startups, investors, trade delegations, and media. The sold-out event featured over 3,000 exhibiting companies, with artificial intelligence as the most prevalent industry.
Even though Tech Funding News was not at the event, we kept track of everything that was happening and explored the key highlights. Here you go!
AI remains the most represented industry
Artificial intelligence remained the most represented industry at Web Summit, with a 16% increase in AI-related presence. Data revealed that AI startups at last year’s event raised $72.6 million, underscoring the sector’s momentum.
This year, 43% of investors believe AI and machine learning will be the most disruptive technologies in the next 5-10 years. Standout AI startups at the event included:
Intuitivo – a Porto-based startup that offers an all-in-one digital assessment platform to help teachers automate repetitive tasks and improve the assessment process. The company has raised $230,000 in total funding.
VidLab7 – a Munich-based startup specialising in media and personalised video creation for sales, marketing, customer success, and HR. The platform features customisable avatars, voice options, and an AI recommendation engine that integrates with Hubspot, Salesforce, and Zapier. In September 2024, the company raised $3.9 million in a seed round from EQT Ventures to develop its technology and expand its market reach.
Enzai, founded by Ryan Donnelu, is a Belfast startup that provides AI governance solutions to ensure fairness, transparency, and accountability in AI systems. In June 2023, the company raised $4 million in a seed round led by Seedcamp, Paul Forster, TechStart Ventures, Cavalry Ventures, Alexandre Berriche, Samuel Gill, Jonathan Kewley, and Mark Maxwell.
Tryp is a Danish startup that uses AI to offer customised travel packages at competitive prices. In March 2023, the company raised €500k at a €8.3m valuation from VF Venture (Vækstfonden), Jens Schumann, Innovation Fund Denmark, NCA.vc, Ben Cavender, Jacob Gade, Frederik Siesbye Halsted, and Jeppe Vestergaard Frandsen. This funding will help Tryp expand its services and enhance its AI capabilities.
Other industries at the event included SaaS, fintech, health tech, and clean tech, showcasing innovative solutions and trends.
Hyperchains emerged as a key innovation
Hyperchains, developed by the Aeternity Foundation, redefine blockchain adoption for businesses by offering a straightforward and customisable solution. The technology allows users and enterprises to create private chains without coding while leveraging the Aeternity ecosystem’s tools and features.
Hyperchains’ hybrid consensus model combines Proof of Stake (PoS) and Proof of Work (PoW) mechanisms, ensuring security and scalability. The innovation supports seamless integration with existing systems like SAP and Oracle Financial, making blockchain technology more accessible and practical. Hyperchains emphasise privacy and security through state channels and zero-knowledge proofs (ZKPs), enabling private off-chain transactions with auditability.
Strong focus on sustainable tech solutions for reducing carbon footprints and enhancing energy efficiency
Another key focus at the event was sustainability and tech. The discussion centred on how technology can address climate change and promote a circular economy. Innovations included solutions for reducing carbon footprints and enhancing energy efficiency, such as:
EXO — Innovation and Sustainability, a Portugal-based consulting firm that empowers businesses and cities to thrive in today’s sustainable world. The company leverages the latest trends in sustainability, circular economy, and innovation to help organisations adapt to future challenges, offering customised solutions that drive measurable impact and promote transparency.
Auquan, a London-based fintech, is developing AI-driven tools to guide companies towards sustainable investment decisions. Their platform analyses environmental, social, and governance (ESG) factors to inform investment strategies. In October 2024, the company raised $4.5m in a seed round from Neotribe and Peak XV Partners, bringing total funding to $9.4 million.
Witty – a Rome-based startup supported by the Italian Trade Agency, specialises in smart charging software and IoT products to optimise electric vehicle battery charging. Their technology helps users charge efficiently, facilitates micro-mobility, and provides insights on battery life, contributing to improved energy use.
Telemedicine, wearable healthtech, and AI-driven diagnostics
A major highlight at the Web Summit was healthcare technology innovations, with startups showcasing advancements in telemedicine, wearable health devices, and AI-driven diagnostics.
Startups like HealthHelper demonstrated how their platforms make healthcare more accessible and convenient for patients. Founded in 2021, it provides scalable, technology-enabled telemedicine solutions that help primary care practices and healthcare networks bridge care gaps. The exact funding amount is undisclosed, but the company has secured early-stage venture capital to support the development and expansion of its offerings.
Meanwhile, Aktivo Labs, based in Singapore, emerged as a leader in wearable health tech, showcasing devices that track various health metrics. Aktivo’s wearables provide personalised insights and guidance for managing conditions, including mental well-being (Aktivo Mind), diabetes (Aktivo Glucolife™), and cardiovascular health (Aktivo Heart). In December 2022, the company raised $10 million in a Series A round from Mitsui Global Investment, Adaptive Capital, Govin Capital, Seeds Capital, and HH VC Investments.
Alongside telemedicine and wearables, Web Summit highlighted the potential of AI-driven diagnostics. Athena AI uses Gen-AI to analyse individual health data and provide tailored insights, including personalised fitness plans, nutritional advice, and mental health support for women.
44.5% of women-led startups were presented
This year, Web Summit welcomed 1,261 women-founded startups, a 44.5% total and a 29% increase from last year. Women represent 42% of attendees, nearing gender parity. The event focused on women in tech, with 37% of speakers being women, highlighting their growing influence in the technology sector. This uptick trend signals the industry’s commitment to diversity, inclusivity, and optimism about its future.
Female leaders who impacted Web Summit Lisbon 2024 included Melanie Nakagawa, Microsoft’s Chief Sustainability Officer, who shared insights on using technology for sustainable practices; Etosha Cave, Co-founder of Twelve, who spoke about creating fuel from CO2 and water; and Maja Horvat from Sploro, who connected with European deep tech startups, offering insights and funding opportunities.
Web Summit Lisbon 2024 highlights: Advancing AI, sustainability, and diversity in tech
