“History never really says goodbye. History says, 'See you later.’” – Eduardo Galeano
November 9, End Of Day
Caligenia: Caligenia is a biotech and agtech company based in Buenos Aires, Argentina, dedicated to restoring soils and combating global warming. Their innovative approach converts organic waste into products that improve agricultural yields, transforms degraded soils into productive fields, sequesters carbon to reduce global warming, and generates renewable energy as a byproduct. With a focus on environmental sustainability and efficiency, Caligenia is poised to make a significant impact on farming practices and ecological restoration. Dive deeper into the case here.
Clinspace: Clinspace is revolutionizing the healthcare sector, by connecting healthcare professionals with clinics that have available spaces. This SaaS company is tackling the inefficiencies of healthcare space utilization with a platform that offers over 800 office space options. Their service is a complete solution that includes customizable pages, automatic scheduling, and financial dashboards, catering to the on-demand and flexible needs of modern healthcare providers. Dive deeper into the case here.
Lizit: Lizit is a SaaS enterprise based in Bogotá, Colombia, specializing in the rental sector. Their platform is designed to streamline the management of rental assets, offering a comprehensive booking interface for both in-store and online reservations. Lizit's system enhances inventory management with robust data visualization tools and integrates seamlessly with e-commerce platforms at checkout. A notable achievement includes securing a long-term contract with Sodimac Colombia, showcasing their industry impact and potential for growth. Dive deeper into their case here.
Dive deeper into other fundraising firms in latam here.
The proptech sector has revolutionized the global real estate market with an estimated value of almost $35 billion in 2023. In regions like Latin America, where housing access is notably challenging, proptech ventures are leading the way towards a modernized and optimized real estate sector. Factors affecting the market potential of proptech:
Recent news from the sector:
Chilean proptech startup Legria, which specializes in fractional ownership of luxury second homes, has raised $3 million in funding from Ameris Capital. The investment will support the company's expansion in the Chilean market, with plans to acquire properties in prime locations. Legria's innovative platform offers shares in companies that own luxury, fully-furnished properties, making second home ownership more accessible.
A Mexican proptech startup, Around, offering flexible rental office spaces, has raised $3.8 million in seed funding, aiming for a fivefold growth by 2023. The company provides a marketplace for growing companies to find and rent office spaces on a flexible, monthly subscription basis, without long-term leases or deposits. With this recent funding, Around plans to expand beyond Mexico City to other major Latin American cities and introduce new financial products for landlords and renters.
Property tech startup Tuhabi has secured a $50 million credit line from the Inter-American Development Bank to expand its operations in Mexico. This financial boost comes despite a broader funding slowdown for startups in the region and will be used to increase the company's home inventory. Tuhabi, valued at over $1 billion and operating in Mexico and Colombia, simplifies the home-selling process with quick payments and uses a combination of artificial intelligence and physical assessments for home pricing.
Peru: Peru's government has introduced a stimulus package consisting of over two dozen new initiatives to spur investment and combat the country's recession. The measures particularly aim to attract investment in the mining sector, a critical area for the economy, as the nation is the world's second-largest copper producer. Despite the economic downturn, caused in part by the El Niño weather phenomenon and reduced private investment, Economy Minister Alex Contreras is optimistic, forecasting an increase in funding for public and private projects to $8 billion in 2024.
Colombia: Colombia is planning to auction four blocks for 5G cellular data service operations on December 20, aiming to raise between $374.5 million to $499 million. This move is part of an effort to enhance connectivity and join other Latin American countries that have already deployed 5G technology. The auction, open to public and private telecommunications companies with over three years of experience, is designed to prevent market dominance by allowing operators with fewer customers to choose spectrum blocks first.
Venezuela: The Venezuelan government is positioned to increase social spending in anticipation of the 2024 elections, thanks to eased U.S. sanctions that are expected to boost oil revenue. Temporary sanction relief, agreed upon in exchange for Venezuela's electoral reform promises, could net the country an additional $1.4 billion over six months. This increase in income is intended to finance social services and gain voter support, even as critics argue such spending is a poor substitute for meaningful economic reform.
Check our recently published insights here, to read more about latam’s tech ecosystem.
Recent posts:
-AI Startups in Latin America: Driving Technological Advancements
According to Andrés Barreto, Managing Director of the Techstars Miami accelerator, Latin America has great potential to become a leader in the development of artificial intelligence.
Points for Navigating the Hype:
🔍Read the rest of the analysis here.
-FoodTech in Latin America: Novel Innovations
What is the future outlook on FoodTech in Latin America?
🔍Read more here.
