“Only by living absurdly is it possible to break out of this infinite absurdity.” - Julio Cortazar
October 12, End Of Day
EnviosPet: "One Stop Shop for Pet Lovers," EnviosPet offers a comprehensive platform for pet enthusiasts. Based in Santa Cruz, Bolivia, their vision connects ecommerce, services market place, community, fintech and insurtech, with pet tech. Some of their notable milestones include processing over 4,000 orders with a GMV of $138k monthly. They are on the brink of expanding to Peru. They have already registered 1,300 services in initial months. EnviosPet's dedication to revolutionizing the pet industry is evident in their rapid growth and ambitious expansion plans. Dive deeper into the case here.
Melvin: Melvin offers a simple, practical, and intuitive maintenance software solution. They specialize in the SaaS and Maintenance sectors. Their platform stands out as a complete solution for the management of maintenance. They've showcased proven results with notable clients such as Latam Airlines and Apolo Tubulars. Additionally, Melvin has made notable progress in the educational segment, with over 2.5k students and a following of +160k. Dive deeper into the case here.
Dive deeper into other fundraising firms in LATAM here.
According to the recent Creator Report 2023 by Linktree, in a single internet minute, 60M minutes of content are streamed, 167M TikTok and 3.7M YouTube videos are viewed, and 65k photos are uploaded to Instagram. The 'creator economy' is flourishing, with over 200M creators worldwide. In Latin America, the trend is consistent. However, despite the vastness of the creator economy, 72% of creators earn less than $500 annually, and only 2% surpass 50K. Yet, there are two compelling reasons to believe that the still-emerging creator economy in latam is on the verge of a significant shift:
1. More Monetisation Opportunities
This is a two-folddevelopment. First, an increasing number of tech platforms are allowing creators to standardize and professionalize their relationships with their followers. Second, influencer advertising ependiture is on the rise, correlating with the growing usage and creation of online content. The audience for Latin American creators is also wide.
2. Internet Usage
Beyond the growing trend of internet and mobile penetration in latam, those with internet access are avid users. As noted by the Atlantico Digital Transformation Report (2023), Latin Americans rank among the heaviest internet users globally.
This market, naturally, also requires diverse tech solutions, such as financial services, management platforms, and matching services between brands and creators. Here are some recent updates from this sector:
Brazil: Boeing has launched a technology and engineering center in Sao Jose dos Campos, Brazil, to leverage the country's expertise in sustainable aviation fuel production. This initiative follows Boeing's previous withdrawal from a deal to acquire Embraer's commercial division. The new center employs approximately 500 people and is part of Boeing's commitment to the airline industry's goal of achieving net-zero carbon emissions by 2050. Despite facing lawsuits from local aerospace groups over its expansion, Boeing emphasizes its non-competitive stance with Embraer and its shared interests in sustainability.
Argentina: Argentina's government announced a 5G spectrum auction set for October 24, aiming to raise approximately $1.05 billion. This move is in response to the country's economic challenges, including a plummeting peso and dwindling central bank reserves. Three companies, Movistar, Claro, and Telecom, have qualified to bid for frequency bands ranging from 3,300 MHz to 3,600 MHz. The auction is part of a broader state policy to advance 5G technology, necessitating collaboration between public and private sectors to enhance network infrastructure.
Suriname: Suriname aims to be the pioneer in selling carbon credits under the Paris Agreement, setting a price of $30 per credit to generate $144 million, as revealed by the country's environment minister, Marciano Dasai. This initiative will fund efforts against deforestation in Suriname, which is 93% forested. The credits, known as internationally transferred mitigation outcomes, will support local employment for forest patrolling, counteracting illegal logging and gold mining, and fund flood-resistant infrastructure. While the $30 price per credit is higher than the voluntary carbon market, Dasai believes the adherence to United Nations standards justifies the premium.
Check our recently published insights here, to read more about latam’s tech ecosystem. Recent posts:
The Rise of Agtech in Latin America: A Promising Landscape
Often referred to as the world's breadbasket, Latin America is set to meet the rising global food demand, with a projected 80% growth in agricultural production needed by 2050. Yet, less that 5% of global agtech VC funding is directed to Latin America.
Our analysis highlights:
Read the rest of our analysis here.
The Potential of Climate Tech in Latin America
The climate tech industry is seeing global developments, with various regions, including Latin America, exploring its potential. Despite a recent downward trend in climate tech startup funding worldwide, projections suggest a market value of 20.34 billion USD for 2023, increasing to 182.54 billion USD by 2033. What sets Latin America apart is its unique combination of vast renewable energy potential and diverse ecosystems, offering distinct opportunities for sustainable solutions.
Read the rest of our analysis here.
