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Weekly Tech Pulse
From Smartsheet's $8.4B acquisition to Avolta's innovative F&B hub, Birdie's logistics tech, and Onze's $20M fintech expansion
US & International Startup & Tech News
Smartsheet revenue up 17% to $286.9M in Q3 as enterprise giant preps to go private
Smartsheet reported strong Q3 earnings with a 17% revenue increase to $286.9 million and a shift to GAAP net income of $1.3 million from a $32.4 million loss last year. The company is set to go private in a $8.4 billion deal with Vista Equity Partners and Blackstone, expected to close by January. Smartsheet, serving 85% of the Fortune 500 with its cloud-based work management tools, reported annualized recurring revenue of $1.13 billion and significant growth in cash flow.
New Avolta Incubator In Milan Puts F&B Startups In The Limelight
Avolta, the world’s largest travel retailer, has launched an innovation hub in Milan called Avolta Next, aimed at accelerating tech innovation in food and beverage (F&B). The hub has onboarded its first five startups, selected from over 100 global applications, to work in a collaborative 2,400-square-foot space near Autogrill’s Factory Food Designers, fostering projects to enhance the traveler experience. These startups focus on areas such as AI-driven waste management, autonomous shopping, sustainable materials, travel podcasts, and advanced taste analysis.
Inflection, a Seattle startup that automates marketing for B2B companies, raises $7.6M
Seattle-based startup Inflection raised $7.6 million in additional funding to enhance its software, which helps B2B companies automate and personalize marketing tasks using customer and sales data. Founded in 2021 by Aaron Bird and former Bizible colleagues, the company has now raised $14 million in total and aims to achieve cash flow positivity without requiring further funding. Inflection serves enterprise customers with a modern marketing automation solution and currently employs 32 people.
Lead Edge is increasingly steering its 700+ investors away from VC deals
Mitchell Green, founder of Lead Edge Capital, manages $5 billion for over 700 investors by employing a diversified strategy, including early-stage investments in high-growth companies like Alibaba and ByteDance, alongside buyout deals in overlooked businesses. Green emphasizes value-driven growth and avoids overhyped venture deals, favoring under-the-radar opportunities, such as a cardiac monitoring software company and tax-planning software firm. Despite his skepticism about inflated AI valuations, Green remains optimistic about investing in transformative businesses with sustainable growth potential.
LATAM Startup & Tech News
PedidosYa finances more than 12,000 Argentine SMEs with a credit program
PedidosYa has launched a financing program, PedidosYa Créditos, to support small and medium-sized businesses (SMEs), granting over 12,000 loans in Argentina since mid-2022, amounting to more than $10 billion. The initiative offers quick, personalized credit solutions with no collateral or extra documentation required, and repayments are automatically deducted from sales on the platform. With plans to expand into new markets by 2025 and extend repayment terms, the program has helped SMEs invest in growth, with 99% expressing intent to reuse the service.
Colektia raises 9 million dollars for IA
Several companies recently announced significant developments. Colektia raised $9 million in funding to expand digital debt collection in Latin America, while Tractian secured $120 million to enhance industrial monitoring technology and establish an R&D center in Monterrey. Linkers Industries launched an IPO to raise funds for acquisitions and expansion, Kans Capital invested $35 million in Lottus Education to support its growth, and Meta partnered with Lightstorm Vision to enhance 3D entertainment on its Meta Quest platform.
Birdie raises pre-seed financing round for $500,000
The AI-powered logistics software platform Birdie raised a $500,000 pre-seed funding round led by 500 Global, Techstars, and prominent tech investors. Birdie aims to accelerate its technology development to support Mexican companies involved in international trade, focusing on streamlining supply chain operations, reducing costs, and minimizing errors for B2B and retail sectors. As year-end demand surges, Birdie emphasizes the need for technology-driven solutions to address challenges like port congestion, increased shipping costs, and operational efficiency.
Onze raises $20M to expand corporate pension platform
Brazilian fintech Onze raised $20M in a funding round led by Ribbit Capital, with participation from Atlantico and Red Ventures. The company provides corporate pension and financial wellness solutions, aiming to expand its client base, develop credit solutions backed by pension assets, and make its platform more accessible for businesses. Since its founding in 2020, Onze has doubled its client base and assets under management, now exceeding $650M, with notable clients like Dell, Tim, and Grupo OLX.
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