“It seems to me that the natural world is the great source of excitement: the greatest source of visual beauty; the greatest source of intellectual interest. It is the greatest source of so much in life that makes life worth living.” - David Attenborough
Pura Mente: Offers wellness and meditation services tailored for the Hispanic world. What distinguishes Pura Mente is its community-driven approach. Their app specialises in mindfulness programs and include over 300 short meditation sessions for different moments. With over 2 million downloads and 30k paying users, they've established a dominant presence in the Spanish-speaking mental health market. Get to know the case here.
Mobi: Provides a range of sustainable electric transportation options, including E-mopeds, E-bikes, and E-scooters. What sets Mobi apart is that they manufacture their own fleet in Paraguay, which enables them to exercise greater control over the technology, reduce delivery time, and implement continuous improvements to their products. Get to know the case here.
Dive deeper into other fundraising firms in LATAM here.
Latin American rich in wind and solar resources, presents vast opportunities for cleantech startups. As the markets mature, investors are recognizing the long-term value of clean energy ventures, with foreign investment in the sector reaching nearly USD 12 billion in 2019, highlighting the region's growing appeal for cleantech startups. While renewable energy currently meets only a fraction of the region's potential, the rising electricity demand and global emphasis on sustainability are driving innovation. For example, Chile ranks as #1 globally in attractiveness to clean power investments. Here some recent news from the sector.
Suriname: Suriname plans to be the first country to sell carbon credits under the UN Paris Agreement's system, aiming to attract investors with government-backed credits that adhere to UN guidelines. The sale has sparked debate among experts, with some seeing it as a way to finance developing countries, while others question the legitimacy of the credits in combating global warming. Suriname, a "carbon-negative" country, generates its forest credits based on a baseline registered with the UN, indicating its forest's carbon stock. If the forest's carbon stock increases due to protection efforts, the gains can be packaged as carbon credits, with Suriname potentially issuing credits backed by its 2021 emissions reductions in the near future.
Venezuela: Venezuelan government bond prices have surged recently due to investor speculation that President Nicolás Maduro's administration might be approaching a diplomatic resolution that could ease US sanctions. This optimism stems from leaks suggesting progress in confidential talks between Washington and Caracas, pushing bond values from 8-9 cents to 10-11 cents on the dollar. While the Biden administration has shown willingness to relax sanctions in exchange for a credible presidential election in Venezuela, the outcome of these negotiations remains uncertain, and previous bond rallies have lost momentum.
Argentina: Argentina's central bank (BCRA) has kept its benchmark interest rate unchanged at 118%, despite the country's inflation rate reaching a 30-year high of over 124% in August. This decision comes after the rate was raised from 97% to 118% the previous month, following a surprising primary election result where libertarian Javier Milei secured 30% of the votes. While some analysts believe the rate should be increased to about 149% to control inflation, the central bank anticipates a slight moderation in September's inflation figures.
More about cleantech in Latin America in here.
