VENIAM

Veniam, a spin-off of the University of Porto, IT and the University of Aveiro, has proven, in very practical terms, how knowledge derived from investment in science and technology can be transformed into products for global markets and qualified jobs in Portugal. At the forefront of the “Internet of Moving Things,” Veniam turns buses, cars, trucks and other vehicles into Wi-Fi hotspots, capable of expanding Internet connectivity to all citizens. Veniam helps to improve the quality of transport fleet services and the operational efficiency of controlled industrial sites, such as ports, airports, mines, plants, etc., through cloud-managed services. The concept was tested in Porto, where Veniam is based and operates the world’s largest vehicle Wi-Fi network, which includes STCP’s entire fleet. The company has already provided 4 million Internet sessions to more than 400,000 users. From UPTEC, and after signing an intellectual property agreement through U.Porto, Veniam has entered international markets and achieved significant results in Singapore and New York. João Barros, alumni and Professor of the University of Porto and CEO of Veniam says that "it is a great privilege to be able to lead this project and work with an extraordinary team." Veniam has recently received an investment of €22 million through Series B Financing, raising the total amount of risk capital invested in the company to €26 million.