Hello there,

Welcome to another edition of 🔍 Startup Researcher - Latin America, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌎️

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Mexican fintech neobank Stori has partnered with Shein to launch a Shein credit card.

• Brazilian tech startup Orbital has formed a $2.45 million partnership with ANKAA to enhance digital transformation and sustainability efforts in Oman.

• Joinville, a key innovation hub in Brazil, is bolstering its ecosystem with new leadership at Ágora Tech Park and Join Valle to drive growth.

• Livelo has launched its Innovation Hub to accelerate the development of new technologies in the loyalty market with 14 ongoing projects.

• Sofya has appointed Marcelo Mearim as its new CEO in Brazil while co-founder Igor Couto shifts focus to international expansion as CEO in the U.S.

💸 Top Funding Rounds

• Online supermarket Jüsto has secured $70 million in debt and equity financing led by General Atlantic and HSBC México to expand operations.

• Mexican neobank Albo has secured a $60 million credit line from SixPoint Capital to enhance its credit offerings for individuals and companies.

• Brazilian credit fintech Agrolend has raised $53 million in a Series C funding round led by Creation Investments and Syngenta Group Ventures.

• CXC has raised $32.6 million in a Series A round led by Kaszek to expand into the United States and Latin America.

• Colombian fintech Akua has raised $4.2 million in a seed round led by Propel and other investors to develop its acquirer-as-a-service platform.

💰️ Notable Exits

• Biosolvit has acquired Augen for $8.41 million to enhance its socio-environmental impact solutions.

• TRG expands into LATAM with the acquisition of Boreal 4.0 to enhance its global managed services and strengthen its robotics and automation offerings

📈 Deep Dive Bites

Explore the vibrant landscape of Mexico's most active venture capital firms, fueling growth across the country’s dynamic startup ecosystem. These VC leaders are powering innovations in sectors like fintech, e-commerce, and sustainability by providing essential funding, mentorship, and strategic guidance to promising startups. Check out the full list of Mexico’s top VC firms and learn how they’re shaping the future of Latin American entrepreneurship by fostering groundbreaking companies and transformative technologies.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Jüsto

Jüsto, a prominent online grocery platform in Latin America, has raised $70 million in funding, including $50 million in equity led by General Atlantic and $20 million in debt from HSBC México. Founded in 2019 by CEO Ricardo Weder, Jüsto operates as Mexico's first vertically integrated online grocery platform, expanding its reach to Brazil and Peru. The company utilizes AI and data analytics to optimize its supply chain, achieving a 99% order fill rate. With this new capital, Jüsto aims to enhance operational efficiency, innovate its e-commerce model, and promote sustainability while transforming the grocery shopping experience in the region.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Kaszek

Kaszek, a premier venture capital firm in Latin America founded in 2011, recently led a $32.6 million Series A funding round for CXC to fuel its expansion into the U.S. and Latin America. Known for its focus on transformative technology, Kaszek has invested across diverse sectors, including financial services, education, healthcare, and SaaS, seeking significant disruption and value creation. With nine funds and 122 portfolio ventures to date, Kaszek offers capital alongside hands-on support in strategy, operational execution, and product development, helping entrepreneurs build iconic companies across Latin America.

🤑 Opportunity Radar

EU-LAC Digital Accelerator Open Call #2

Apply to the EU-LAC Digital Accelerator Open Call #2 by October 31st, 2024, to forge impactful partnerships across Europe, Latin America, and the Caribbean. This opportunity invites corporates, startups, and innovative SMEs committed to digital transformation to collaborate in Open Innovation, leveraging resources to tackle cross-border challenges. Successful partnerships receive in-kind services valued up to €30,000, from roadmap development to proof-of-concept and business scaling support. Begin your application today and join the network of EU-LAC innovators working to advance digital transformation across regions—don’t miss the chance to make your mark!