Underdogs

What Underdogs does

Underdogs is a Lisbon-based cultural platform, established in 2010 and consolidated in its present legal form in 2013 as Underdogs - Comercio e Produção Artigos Decorativos, Lda. The company operates a physical gallery at Rua Fernando Palha, Armazém 56, alongside an e-commerce storefront that ships internationally in multiple currencies. Its core offering spans five revenue streams: limited edition print and sculpture editions, one-of-a-kind unique pieces, books and zines, public art commissions, and exhibition-related sales. The roster includes 30+ Portuguese and international artists specializing in urban-inspired contemporary art, with named collaborators including Vhils, Shepard Fairey, PichiAvo, Felipe Pantone, FUTURA, FAILE, JonOne, André Saraiva, and Wasted Rita. Product pricing ranges from approximately $24 (zines) to over $8,000 (unique pieces), with limited editions typically issued in runs of 25-100+ units plus artist proofs.

The business model is a hybrid gallery-retail operation. Direct-to-consumer sales run through the Lisbon gallery (open Tuesday-Saturday, free admission) and the under-dogs.net e-commerce platform. A separate commissioned works and public art vertical generates revenue from municipalities, corporations, and institutions; documented partners include Câmara Municipal de Lisboa, CCDR-LVT, and Sanofi on the 'Mais Ar Para Viver' mural project, plus the Embassy of Portugal in Korea and Korea Foundation Gallery for international exhibitions. Marketing relies on the website, email newsletter, organic social media, and event-driven exhibition programming. Distribution extends globally via e-commerce and through traveling exhibitions; a 2025 PRR grant (€42,500 of an €85,000 total) is being deployed to expand into five new international markets via SEO, content marketing, and UX improvements.

Operationally, Underdogs is a small team (1-10 employees) with no parent company, no institutional equity investors, and a single disclosed capital event — the 2025 PRR grant. There are no patents, certifications, or proprietary technology assets; the underlying value is content-driven, built on artist relationships, a catalog of 250+ authenticated editions, and an institutional commissioning channel. The company does not have a mobile app, public API, or AI/ML capabilities. Recent activity through 2025-2026 — the Seoul debut, corporate-municipal mural commissions, and high-profile limited edition drops (Hugo Oliveira & Vhils, FAILE, Wasted Rita) — suggests a structured but resource-constrained international growth push.

Name

Underdogs

Legal name

Underdogs - Comercio e Produção Artigos Decorativos, Lda

Website

https://under-dogs.net

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Underdogs is a Lisbon-based cultural platform operating a gallery, e-commerce shop, and public art program, producing limited edition prints, sculptures, unique pieces, books, and commissioned art projects for individual collectors and institutional clients, working with a roster of 30+ Portuguese and international urban contemporary artists.

Ownership category

akta.pro rank

Product category

Contemporary Art Gallery

NAICS

Art Dealers (459920)

akta.pro primary industry

Full-Service Artist Management (MPAIAGAA)

Keywords

• Contemporary art gallery
• Limited edition prints
• Public art installations
• Urban contemporary art
• Artist editions

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Others

Revenue model

1. Limited Edition Artwork Sales: Sale of limited edition prints, sculptures, and other art objects produced in collaboration with featured artists. Editions are numbered, signed, and include artist proofs. Products range from screen prints ($94-$400+) to sculptures ($400-$1,700+) and unique pieces (up to $8,142+).
2. Books and Zines: Sale of art books, catalogues, and zines documenting artist practices and exhibitions. Includes special editions, artist collections, and collaborative publications with artists like Vhils, Add Fuel, and Wasted Rita.
3. Public Art Commissions: Development and execution of public art projects commissioned by municipalities, corporations, and institutions. Projects include murals, installations, and site-specific works throughout Lisbon and internationally.
4. Exhibition Fees: Revenue generated from organizing and hosting exhibitions, including venue rentals, exhibition-related sales, and catalogue publications. Includes both in-gallery and traveling exhibitions.
5. Sculpture Editions: Production and sale of limited edition sculptures in various materials including ceramic, acrylic, resin, and mixed media. Artists include FAILE, JonOne, André Saraiva, and others.
6. Merchandising: Sale of branded merchandise including apparel and accessories featuring Underdogs branding and artist collaborations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Underdogs is a Lisbon-based cultural platform that operates a physical gallery hosting contemporary urban and street art exhibitions, runs a public art programme producing murals and installations, and produces and sells limited edition artworks (prints, sculptures, unique pieces) along with books, zines, and branded merchandise. The company curates and sells numbered, signed editions from a roster of more than 30 Portuguese and international artists, while also developing commissioned art projects for institutional and corporate clients.

Product overview

Underdogs is a cultural platform based in Lisbon, Portugal, established in 2010 and consolidated in 2013, encompassing multiple interconnected offerings: a physical gallery presenting exhibitions, a public art programme creating urban installations, production of limited artist editions (print editions, sculpture editions, unique pieces), publishing of books and zines, commissioned art projects, and an e-commerce shop. The platform works with a diversified roster of Portuguese and international artists connected with the urban-inspired contemporary art universe, fostering relationships between creators, the public, and the city with the aim of promoting art as an everyday experience. The shop offers print editions, sculpture editions, unique pieces, books & zines, and merchandising.

Differentiator

Problem solved

Functional benefit

Products and services

• Gallery & Exhibitions Presentation and hosting of contemporary urban and street art exhibitions, including solo and group shows featuring Portuguese and international artists. Open Tuesday-Saturday from 2pm-7pm with free admission.
• Public Art Programme Development and curation of public art projects, including murals and installations in urban spaces across Lisbon and international locations such as the 'Mais Ar Para Viver' mural by Mariana Malhão on Avenida da Liberdade, Lisbon.
• Print Editions Limited edition prints including screen prints, giclée prints, and lithographs produced in numbered, signed runs (typically editions of 25 to 100+ units plus artist proofs), ranging from $94 to $1,629.
• Sculpture Editions Limited edition three-dimensional artworks in ceramic, acrylic, resin, and mixed media, with editions typically ranging from 3 to 50 copies. Artists include FAILE, JonOne, André Saraiva, and others. Prices range from $349 to $1,745.
• Unique Pieces One-of-a-kind original artworks produced as single pieces with no reproductions, representing exclusive collector items, sold via enquiry-based process and priced up to $8,142+.
• Books & Zines Published books, artist catalogues, and zines documenting artist works, exhibitions, and projects, including monographs and collaborative publications with artists such as Vhils, Add Fuel, and Wasted Rita. Prices range from $24 to $1,105.
• Merchandising Branded merchandise including apparel and accessories featuring Underdogs branding and artist collaborations.
• Commissions & Art Projects Development of commissioned art projects for private and corporate clients, creating bespoke artworks and installations including murals and site-specific works.

Quantifiable outcome

• Over 250+ products available across print editions, sculptures, books, and unique pieces
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered flagship and core.

• Korea Foundation GalleryflagshipStrategic or Co-development Partner · 28 May 2026Korea Foundation Gallery in Jung-gu, Seoul hosted the 'Exported Reality' group exhibition (May 28 - July 16, 2026) featuring Portuguese artists Vhils, Ana Malta, AkaCorleone, and Wasted Rita. Exhibition explored K-culture reception in Portugal.
• SanoficoreStrategic or Co-development Partner · 1 January 2026Collaboration on public awareness campaign 'Mais Ar Para Viver' (More Air To Live). Sanofi partnered with Underdogs for a mural by Mariana Malhão installed at the Air Quality Monitoring Station on Avenida da Liberdade, Lisbon, reflecting on respiratory health and air quality.
• Comissão de Coordenação e Desenvolvimento Regional de Lisboa e Vale do Tejo (CCDR-LVT)coreStrategic or Co-development Partner · 1 January 2026Regional development authority co-sponsored the public art installation 'Mais Ar Para Viver' by Mariana Malhão at Avenida da Liberdade, Lisbon.
• Câmara Municipal de LisboacoreStrategic or Co-development Partner · 1 January 2026Lisbon Municipal Council supported the public art installation by Mariana Malhão, demonstrating ongoing partnership between Underdogs and the city government for urban art initiatives.
• Embassy of Portugal in KoreacoreStrategic or Co-development PartnerCo-organized the 'Exported Reality' exhibition with Korea Foundation to promote cultural exchange between Portugal and Korea.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• StolenSpace Gallery: London gallery specializing in street art and urban contemporary editions, prints, and solo/group shows. Direct comparator for limited edition and exhibition programming.
• Galerie Itinerrance: Paris gallery dedicated to street and urban art, combining gallery exhibitions with public mural programmes. Closely mirrors Underdogs' gallery-plus-public-art model.
• LeBasse Projects: Los Angeles-based gallery focused on contemporary urban and street art, with artist editions and curated exhibitions. Comparable artist roster and edition-driven commerce.
• Hang-Up Gallery: London contemporary urban art gallery representing established and emerging street artists with editions and exhibitions. Similar collector base and price band to Underdogs.
• Vigo Gallery: London contemporary art gallery working across editions, painting, and sculpture with international artists. Comparable dual model of exhibitions and edition sales.
• Magda Danysz Gallery: Paris-based gallery with a long-standing focus on street and urban art, publishing, and international exhibitions. Comparable mix of editions, exhibitions, and artist development.
• Lazarides Gallery: London-based gallery founded by Steve Lazarides (formerly Banksy's agent), specializing in urban and street art editions and exhibitions. Highly comparable curation, edition model, and artist roster overlap.

Broad incumbents

• Perrotin: Global contemporary gallery with blue-chip artists and multiple international locations. Overlaps with Underdogs in the contemporary editions/exhibitions space but at far greater scale.
• Opera Gallery: International contemporary art gallery with multiple locations worldwide, offering editions and exhibitions. Comparable hybrid retail-exhibition model but with a much wider artist roster.
• Saatchi Gallery: Established London contemporary art institution with a much larger footprint and broader programming. Adjacent in category but operates at significantly greater scale and scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/UnderDogsArtPlatform
• LinkedInlinkedin.com/company/underdogs-gallery

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Underdogs