Founders Interviews — Ricardo Cabral and Martino Correia —Spotlite
First, can you tell us about your professional background and the path that led you to Spotlite?
Martino Correia: Our professional background is somewhat unconventional, as we both began our careers as archaeologists, which is also how we met while studying at university. Although archaeology was our starting point, we soon specialized in applying digital technologies to the field. Ricardo focused on remote sensing, while I concentrated on 3D visualization and CGI, making our expertise complementary. This synergy eventually led us to form a company together.
Initially, we worked as researchers at the University of Coimbra’s research center, but our careers evolved, and we launched a company. Its initial focus was on digital technologies applied to cultural heritage. This, however, brought us into contact with space technology through collaborations with the European Space Agency. Supported by their projects, we gained momentum, and this journey ultimately led to the creation of Spotlite as it exists today.
Ricardo Cabral: We were working in academia, where innovation is a core aspect, and we became accustomed to operating at the boundaries of knowledge. This led us to undertake a few groundbreaking projects in this field while still within the academic environment. From there, we applied for grants from the European Space Agency, which inspired and fueled the idea of creating a startup focused on the technologies we were exploring and developing.
How was Spotlite born?
The company didn’t initially start as a startup. For a few years, we operated as a regular services company while applying for various research and innovation grants from the European Space Agency. After winning several of these grants, we began developing technology for monitoring using satellite data.
Eventually, we identified a large, underserved market with significant pain points in managing infrastructure in relation to natural hazards. Recognizing this opportunity and being accustomed to taking risks from our academic background, we decided to focus on this challenge, even though it remains highly demanding.
At the same time, we secured our first customer, a major company, which gave us the confidence to pursue venture capital funding. That’s how our journey began.
How is your product different from others in the market? What makes it unique?
Martino Correia: One key advantage of our product is its multi-hazard capability, which sets it apart from most competitors. It simultaneously addresses multiple risks that could threaten the integrity of critical infrastructure. Additionally, we automate workflows to deliver analytics to clients, leveraging AI, including machine learning and deep learning. This makes our solution far more comprehensive than what most competitors offer.
Ricardo Cabral: We are also placing a strong emphasis on predictive capabilities, which are invaluable for our clients in planning budgets and preventing critical failures. Our product vision also sets us apart. While we currently offer analytics as a service, we’re already taking the first steps toward evolving it into a comprehensive infrastructure management tool.
Rather than just monitoring and providing analytics, the ultimate goal is to empower clients to manage their entire infrastructure remotely. The satellite-based analytics we’re providing now is just the foundation for this broader solution.
Martino Correia: Yes, our vision for the platform goes beyond risk monitoring, as Ricardo mentioned. We’re integrating features like digital twins and documentation management systems to create a comprehensive solution for maintenance teams and infrastructure managers.
What has been the most crucial moment in the history of Spotlite so far?
Ricardo Cabral: I’d highlight two key moments. First, securing our first client or project, as it validated what was initially just a theoretical idea. Since it was a multinational company, it underscored the large-scale potential of these technologies, making it a pivotal moment. Second, our first fundraising round, which aligned the client’s needs with the potential of our product as a strong vehicle for investment.
Martino Correia: Yes, I believe those were probably the two most significant milestones in Spotlite’s history so far.
If you could go back in time, is there anything you’d do differently?
Martino Correia: Yes, knowing what we know now, we would certainly be more efficient. It’s a constant learning process. Every day brings new lessons and ways to improve. So, while we would have done many things differently, that’s simply part of the journey.
Ricardo Cabral: We’ve been learning as we go, which is typical in a startup environment. If I could go back in time with the knowledge I have now, I’d say the initial plan itself was solid and still holds true — we’ve stuck to the original vision. However, the execution had its inefficiencies, especially in how we set things up early on. If we were to start over with what we know now, we could probably achieve everything at least twice as fast.
Do you have any tips or advice for an aspiring founder?
Ricardo Cabral: One of the key things to focus on initially, though this depends on the phase of the business, is to engage frequently with potential customers. While it’s not absolutely critical if the founder comes from the same industry they’re selling to, as they may already have valuable insider knowledge, that’s not the case in most situations. I’d say it’s essential to have regular conversations with potential customers to shape the product from the outset and avoid making costly mistakes in decision-making.
Martino Correia: Along the same lines, especially in the early stages, I would advise not to be afraid of pivoting your idea and doing so quickly when you realize you’re not heading in the right direction.
What are your plans and vision for the future of Spotlite?
Ricardo Cabral: Our primary focus is on infrastructure risk. While we are currently targeting end users, we also plan to develop solutions like risk indices for insurance providers, who are naturally involved in this space. However, that will come at a later stage. Additionally, we’ve already started expanding internationally and are present in both South and North America. Over the next couple of years, we aim to concentrate on growing in these two markets.
Lastly, what has been the most challenging part of growing your startup? And the funnier part?
Ricardo Cabral: The main challenge is people management. In a startup, there’s a specific mindset required, which differs from that in corporate environments, other types of jobs, or even academia. In some ways, a startup mindset is closer to academia because you need to constantly test new ideas, adapt quickly, and embrace change almost every day. People from academia may fit this environment better in some cases, though not all, depending on the role. There’s a unique mindset suited for startups, and it can be difficult to find or train for.
Martino Correia: For a couple of years, we were just a team of 4, and now we’ve grown to 20. Naturally, managing a team of 20 presents very different challenges compared to managing just 4. As we’ve grown, many things need to adapt, which presents its own set of challenges.
Now, what about the funnier part of building a startup?
Ricardo Cabral: If you enjoy tackling difficult or unexpected challenges every day, then we have a lot of fun here. Personally, I really enjoy the lack of monotony and the variety each day brings. However, I understand that this may not be enjoyable for everyone. For me, it’s like a rollercoaster of emotions. Sometimes within the same day. You experience failures at certain points, but then you have successes, like landing a significant contract with a key client, which is exhilarating. Of course, there are also moments of frustration, particularly around product delivery. But overall, I find those ups and downs to be part of the fun.
*Interview by Catarina Rebola — Marketing, Communications & Events
