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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 🌎️

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📰 Important News

• Mexico's labor reform to formalize digital platform workers has passed committee approval but is facing opposition from key actors.

• Minsait has launched Latin America's first Operational Technology (OT) Cybersecurity Hub in Medellin, Colombia.

• Plata Card has received authorization from Mexico's CNBV to operate as a multiple banking institution, becoming the 54th bank in Mexico.

• AWS sees Brazil as a strategic startup hub for fostering innovation and driving impact across LATAM according to the company’s country director.

• Kamina partnered with Mastercard to promote financial inclusion and address over-indebtedness in Latin America by using behavioral science and AI.

💸 Top Funding Rounds

• Prima closed a $23 million Series A round to expand its services for manufacturers, supporting financial, engineering, and technology needs.

• Mexican insurtech Sofia secured $13.5 million to expand its health insurance services to SMEs and incorporate AI into healthcare.

• Chilean debt recovery fintech Colektia raised $9 million led by Mouro Capital to expand its AI-powered debt collection platform across Latin America.

• Argentina’s customer experience platform Numia raised $3.5 million in a seed round led by Cometa to expand in Mexico and Colombia.

• Cryptocurrency broker Digitra.com has secured a $1 million investment from 4Equity Media Ventures to accelerate its expansion in Brazil.

💰️ Notable Exits

• Skydropx has acquired logistics startup Frenet for $5.2 million, marking its entry into Brazil's logistics market.

• Mexican neobank Klar acquired Tribal to expand into the SME market, combining Klar’s infrastructure with Tribal’s B2B focus.

🏦 About Investors

• Brazilian neobank BS2 launched a $16 million CVC fund to invest in up to 20 early-stage fintech, payments, and financial infrastructure startups.

• GS1 Brasil Ventures has opened applications for supply chain and logistics startups, offering investment, mentoring, and access to a network of 60,000 companies.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Prima

Mexican startup Prima has raised $23 million in Series A funding, bringing its total funding to $42.5 million. The round was led by Acrew, Nazca, and Quona Capital. Prima, founded in 2019, provides a comprehensive range of services to Mexican manufacturers, including financial support, engineering, technology, and end-to-end services from lead generation to invoicing. With over 200 clients across North America, such as Deacero, Farmacias del Ahorro, and Calidra, Prima aims to use this new funding to expand its presence in the U.S., accelerate product development, and elevate Mexico’s manufacturing standards to global levels. Co-founder Juan Pablo Ramos highlighted the significant market opportunity, noting the challenges posed by informality in Mexico.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

BS2

Brazilian neobank BS2 has launched a $16 million corporate venture capital fund to invest in early-stage fintech, payments, and financial infrastructure startups in Brazil, starting in 2025. The fund aims to support up to 20 startups that complement BS2's core services. Prior to this, BS2 invested $645,000 in fintech Somos Young and $807,000 in Grupo Bloxs, a Capital Market As a Service (CMaaS) platform. The CVC fund will focus on seed to Series A-stage startups, with BS2 targeting a minimum 10% stake in each company. Founded in 2017, BS2 provides digital banking solutions for corporate clients and SMBs, including payments, credit, foreign exchange, insurance, and international accounts.

🤑 Opportunity Radar

Call for Applications: UNICEF Venture Fund

Apply to the UNICEF Venture Fund's AI and Blockchain for Data and Trust program by December 23rd, 2024, and secure up to $100,000 in equity-free funding for your innovative startup. If you're developing cutting-edge technologies addressing misinformation, data integrity, or digital trust for children, this is your opportunity. UNICEF is specifically seeking early-stage, for-profit technology startups registered in UNICEF program countries with working prototypes in AI, machine learning, or blockchain. Women-led and young founders are especially encouraged to apply, with a focus on creating Open Source solutions that can radically improve children's digital experiences and safety.