Weekly Tech Pulse
Weekly Tech Pulse
From EPAM's Acquisition of NEORIS to SparkLabs' $50M AI Fund to Cobre's $35M Series B round led by Oak HC/FT.
US & International Startup & Tech News
EPAM Announces Agreement to Acquire NEORIS
EPAM announced its agreement to acquire NEORIS, a Miami-based global technology consultancy with over 4,700 professionals across Latin America, Spain, and the U.S. NEORIS specializes in digital transformation projects for various industries, leveraging expertise in areas like AI, SAP, and data analytics. The acquisition strengthens EPAM’s presence in Latin America and expands its global delivery capabilities, with both companies aiming to accelerate digital transformation for their clients.
SparkLabs closes $50M fund to back AI startups
SparkLabs, an early-stage venture capital firm known for backing AI startups like OpenAI, has launched a new $50 million AIM AI Fund to invest in AI companies globally, with a focus on those in Saudi Arabia through its AIM-X accelerator. The fund will target startups across various stages, allocating 35% to accelerator participants and the rest to Series A and B investments. SparkLabs has already backed 14 startups, and the first batch will be announced at the Global AI Summit in Riyadh.
Data observability startup Revefi raises $20M to fuel new ‘AI data engineer’ product
Seattle-based data observability startup Revefi raised $20 million in a Series A round to fuel the growth of its platform and launch a new product, Raden, an “AI data engineer” that leverages generative AI and automation to enhance data teams and maximize ROI from tools like Snowflake and BigQuery. Led by Icon Ventures, the round included backers like Mayfield, GTM Capital, and StepStone Group, bringing total funding to $29 million. Revefi, founded in 2021, is experiencing rapid revenue growth (800%) and has expanded operations with an engineering center in Bangalore. CEO Sanjay Agrawal and CTO Shashank Gupta lead the 30-person company.
European VC Atomico closes $1.24B across two funds for early and growth-stage startups
European venture capital firm Atomico has raised $1.24 billion across two funds to invest in early- and growth-stage startups, marking its largest-ever fundraise. The funds are split into "Atomico Venture VI" ($485 million for Series A and some seed investments) and "Atomico Growth VI" ($754 million for Series B through pre-IPO). Founded by Skype co-founder Niklas Zennström, Atomico aims to support startups throughout their lifecycle, with this dual-fund approach reflecting the current hesitancy of investors to back early-stage, pre-profit companies. Despite a global venture downturn, Atomico has already made 21 investments across both funds.
Bluesky grows to 9M+ users
Bluesky has grown its user base to over 9 million, with a 50% surge in users following a Brazilian court's ban on X (formerly Twitter). The platform added 3 million new users, with 85% of them from Brazil, propelling Bluesky to the top of the free iPhone app charts in the country. Originally a Twitter-backed initiative, Bluesky is now an independent startup that fully launched in February. While the rapid growth has caused occasional technical issues, the company will soon add video support.
LATAM Startup & Tech News
EdTech Simón seeks to boost the competitiveness of microenterprises in Mexico
Simón is an EdTech startup that aims to improve the productivity of Mexican micro-enterprises through business education and technology, addressing the challenges they face due to lack of access to education and resources. With a focus on micro-learning and strategic partnerships with large companies, Simón seeks to strengthen the country’s business fabric and enhance micro-enterprises’ competitiveness in key sectors. It was recently selected to participate in Xponential B2B, a transformation initiative that Endeavor Mexico and Nestlé led.
Brazilian unicorn Unico buys Mexican firm specializing in fraud prevention
The Brazilian unicorn Unico, specializing in facial biometric security solutions, announced its acquisition of the Mexican company Trully, which focuses on business fraud prevention. Although the acquisition amount was not disclosed, Unico emphasized that the deal strengthens its position in Mexico, aiming to make the country a key player in building a global user identity network to prevent financial fraud. Trully will now operate as "Trully by Unico," with clients like inDrive, Rappi, and GNP.
Ainwater closes financing round and expands into the salmon industry
Ainwater, a Chilean startup specializing in wastewater treatment, has closed a funding round of $537,000, led by Südlich Capital, which will allow it to expand into Colombia and Spain. Additionally, the company plans to apply its technology to the salmon industry in Chile, promoting sustainability in the aquaculture sector.
ERGO and its expansion to Canada with an investment of $2 million
ERGO, an Argentine startup, has secured a $2 million investment to expand its biotechnology research operations to Canada and is actively seeking partners in the new market. Meanwhile, Outtrip, a traveltech company, has partnered with ATMEX to digitize adventure tourism in Mexico, targeting a potential market of $500,000 annually, and Ucrop.it, which offers agricultural verification services, has joined forces with NASA Harvest to implement crop traceability technology, projecting revenues of $1.4 million this year from this alliance.
Basemaker raises $300K round led by DOMO.VC
Brazilian adtech startup Basemaker raised $300K in a funding round led by DOMO.VC, with contributions from Anjos do Brazil and Antler, bringing its total funding to over $427K. The company plans to use the funds to launch new tools that help creators close deals faster and expand its network of creators and brands. With over 3,500 creators available, Basemaker's platform allows advertisers to rent segmented audiences for targeted campaigns, addressing digital advertising challenges such as the end of cookies and rising acquisition costs. The platform helps over 300 clients improve campaign performance by up to 40%.
Colombian fintech Cobre raises US$35M in Series B to strengthen its operations in the region
Colombian fintech Cobre raised $35 million in a Series B round led by Oak HC/FT, with participation from previous investors such as Kaszek, QED, and Canary. Cobre, which helps companies manage interoperable payments and centralize treasury operations, reached financial breakeven in early 2024 and has grown its operations sixfold since its last funding round. The new capital will be used to strengthen its commercial efforts and continue adding financial interoperability products. Cobre's flagship platform, "Connect," allows businesses to manage financial operations across different systems by acting as a universal translator, reducing reconciliation time by 70% and saving companies up to 50 hours per month.
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