“We are all one. Only egos, beliefs, and fears separate us.” - Nikola Tesla
llow: Makes your website compliant in less than 5 minutes. They enable companies to use users’ data. Their SaaS gets/stores users’ consent and their API helps companies to automate data deletion once users request it. Only non-European Union startup that won a Privacy Grant from the EU.
Worknmates is a marketplace for remote companies and employees → Work from anywhere. In Worknmates, companies set up a maximum budget for employees. What can employees do with this budget?
Dive deeper into other fundraising firms in LatAm here.
Uruguayan-based company Nocnoc has raised $14 million in Series A funding, led by PayPal Ventures, to facilitate cross-border e-commerce between Latin American merchants and global sellers. Nocnoc's platform allows online merchants to upload their product catalog and sell on various marketplaces, managing product listings, marketing campaigns, communication with consumers, and logistics, while also offering faster payment processing and expanding its services across Latin America.
São Paulo-based venture capital firm Positive Ventures has secured $25 million for its impact fund, tripling its previous fund and bringing its assets under management to $1 billion. The firm focuses on investing in Latin American founders building tech-driven solutions in areas such as climate change, education, healthcare, and financial services for underserved communities, with plans to invest in 20-25 companies at the pre-seed and seed stages.
Brazil: Consumer prices in Brazil decelerated in May, with 12-month inflation reaching its lowest level in over two years and falling below 4%. The data supports calls from President Luiz Inacio Lula da Silva's government and business community to lower the country's high-interest rates, with Credit Suisse economists revising their inflation forecast and predicting a rate cut in sight.
Chile: The new Constitutional Council, dominated by conservative parties, has started the process of drafting a new constitution, replacing the existing one from the Pinochet dictatorship era. The council, elected in May, marks a significant shift from the previous left-wing assembly, and the completed draft will be put to a national vote in December after a shorter and more limited process.
Mexico: Toyota will invest an additional $328 million in its plant in Guanajuato, Mexico, to adapt production for a new hybrid model of its Tacoma pickup truck, aligning with its electrification strategy. The investment aims to meet the growing demand for electric-powered vehicles in the North American market, as carmakers worldwide shift away from internal-combustion engines to comply with stricter emissions regulations.
Honduras: President Xiomara Castro is set to visit China as the country seeks to strengthen its ties with Beijing, aiming to boost its economy. The trip highlights China's growing influence in Central America, where countries like Honduras are looking to balance relations with the United States and pursue closer economic engagement with China, a shift that has raised concerns from the US.
McKinsey engaged with the very heart of LATAM's tech landscape. They surveyed 200 top startups, conducted in-depth interviews with 30 market leaders, and gathered invaluable input from over 300 startup employees and STEM students. By exploring eight countries and more than 15 different industries, this report offers a panoramic view of the thriving tech scene across the region.
LATAM has experienced an exhilarating journey in recent years, witnessing its first significant venture capital boom. Notably, the number of unicorns—the elusive startups valued at $1 billion or more—soared to an impressive 34 in 2021, a remarkable leap from merely 9 in 2018. Accelerating the startup development cycle, an abundance of capital has surged into the region, sparking a transformative shift in mindsets. A staggering 87% of newly minted tech graduates now aspire to work for a startup, while 83% dream of venturing into the entrepreneurial realm themselves. Read the report HERE.
Some of the key findings from the report:
