Portugal Ventures invests in EGG Electronics
EGG Electronics is the most recent Portuguese start-up to be selected for investment by Portugal Ventures.
The company is the newest European manufacturer of personal charging devices. EGG Electronics' first product - Egg PowerStation - is a charging station that blends user-centered product engineering and design with over 100 accumulated man-years in the field of premium quality charging devices.
“For EGG, this investment means the resources and confidence to execute our ambitious vision of changing personal charging, from Europe to the rest of the world. It will take us to the next level of success. The investment represents the first of three rounds, to secure worldwide business revenue of 100 Million Euros by the end of 2021. This round is the foundation of that plan and future. It will be a day to remember and to celebrate for all the Start-ups in Portugal with a global market vision”, said Tiago Venda Morgado, Founder and CEO of EGG Electronics.
Portugal Ventures’ CEO, Celso Guedes de Carvalho, states that “this co-investment made by Portugal Ventures together with EDP Ventures, Ganexa Seed Capital and Creative Wings, is in line with its mission to create companies that have global ambition and presence. With this investment, EGG Electronics will accelerate its internationalisation process, allowing consumers from all over the world to take advantage of the technical and design benefits of the EGG PowerStation, the best product to replace the outdated double adapter”.
This investment was made following the start-up’s submission to the Call For Entrepreneurship. Through the various editions of the Call For Entrepreneurship, Portugal Ventures has already invested in 62 start-ups with the ambition to become companies of excellence on a global scale. The 17th edition of the Call is now open and projects may be submitted until 27th October.