July 30 Brazil’s government unveiled on Tuesday a 23 billion reais ($4.07 billion) proposal for an artificial intelligence (AI) investment plan aimed at developing sustainable and socially-oriented technologies. It will be disbursed from 2024 to 2028. The proposed investment plan foresees resources for “immediate impact initiatives” in sectors such as public health, agriculture, environment, business and…
June 28 Former CEO of retail giant Americanas was arrested in Madrid. Miguel Gutierrez is part of an investigation into a $4.5 billion alleged accounting fraud. June 27 Giftback and advertising services CRMBonus raised an additional R$55 million in its Series B round bringing its valuation to R$2.2 billion. Vivo Ventures and Industry Ventures participated…
May 23 Tokenization pioneer Dynasty Global to become BrickMark Group’s payment token. In return, Dynasty will acquire a strategic stake in BrickMark. The investment of CHF 10 million will be part of BrickMark’s Series A financing and will be settled mainly with Dynasty’s payment token and cash. This collaboration aims to facilitate real estate transactions using D¥N,…
April 26 QI Tech, a Brazilian fintech specialized in infrastructure for financial services, achieved unicorn status, reaching a market valuation above US$1 billion (R$5.1 billion) in its latest investment round. This milestone was reached after QI Tech received an additional contribution of US$50 million (R$256.3 million). This investment is an extension of the US$200 million (R$1…
March 27 Techome, a smart home startup, raised R$35 million in a series A led by venture capital manager Astella, who was already an investor. The round was also joined by Endeavor Scale-Up Ventures and Endeavor Catalyst. The amount will be used mainly to execute the project for its own factory. March 27 Frete.com, an…
Feb 27 Agtech Cromai received an additional investment and reached R$30 million in its series A funding. The new investment, of R$12 million, was led by iDEXO, a corporate venture of TOTVS managed by Citrino Ventures, and was accompanied by a follow-on from Baraúna Venture Capital and the family office Citrino Gestão. Feb 27 Neowrk,…
Jan 31 Palo Alto-based Incognia, founded in Recife, raised a US$31 million Series B funding led by Bessemer Venture Partners. The startup offers geolocation identity solutions aimed at fraud prevention, it operates in over 25 countries. Jan 29 The Economist on Brazil’s tax reform overhaul: “Reform of the world’s most complicated tax system will cut…
Dec 27 88% of SoftBank portfolio companies in Brazil are cash flow positive for other 12 months and most reached break even. Alex Szapiro, Managing Partner and Head of Brazil, details why he is optimist about 2024. Dec 22 C6 Bank, Caju, QI Tech. Here are some of the Brazilian startups that were in the spotlight and generated important…
Nov 30 Mexican retail startup Zubale raises US$25 million to accelerate growth at home and in Brazil. The startup is a set of tools and services designed to empower the profitable expansion of retailers’ digital channels, secured an investment of USD$25 million in a round led by QED Investors, backed by NFX, Kevin Efrusy, and…
Oct 31 QI Tech raised a Series B round of US$200 million that will allow the banking as a service fintech to accelerate its growth through acquisitions. The investment was led by General Atlantic, which contributed around US$175 million. Other investors include Across Capital, which had already invested US$12 million in the company last year.…
Sep 29 Latitud announces the first closing of its 2nd fund with both regional and global investors such as a16z, Nubank, iFood, Mercado Livre and others. It comes nearly two and a half years after the launch of Fund I that invested in 100+ early-stage startups across Latin America. Sep 27 San Francisco-based B2B payment startup Slope, YC…
Aug 30 CEOS of Brazilian corporations show “moderated optimism” for 2024. Gathered in São Paulo for the Valor 1000 awards, executives represented the largest companies in the country with combined net revenue of R$7.4 trillion. Aug 30 Early-stage venture capital fund Atlantico released its 2023 LatAm Digital Transformation Report. It brings the major trends that are transforming…