Weekly Tech Pulse
From logistics innovations to restaurant e-commerce platforms, emerging ventures like Veikul, Tucán, and Cometa are securing millions in seed rounds to scale operations and transform industries across
US & International Startup & Tech News
Revolut joins Europe's biggest banks with $45 billion valuation
UK fintech Revolut, has hit a $45 billion valuation after a secondary share sale, surpassing major European banks like Societe Generale and Barclays. With 45 million customers and a recent UK banking license, the company is challenging traditional banks by offering app-based services without the costs of physical branches. Despite its growth, Revolut has not set a timeline for an IPO.
Finosu: Automating Compliance for the $5 Trillion Consumer Lending Market
Finosu, founded by Gabriel and Mark, automates the burdensome compliance processes in the U.S. consumer lending market, saving lenders time and money. After building a $200 million lending business, they recognized the inefficiencies and high costs of manual compliance. Finosu’s software automates tasks like state lending license filing, audit preparation, and loan management, easing the complex regulatory demands and reducing the reliance on manual processes, especially as regulatory scrutiny intensifies.
Forbes: 25 venture-backed startups we think are most likely to reach a $1 billion valuation
Forbes, in collaboration with TrueBridge Capital Partners, released its 2024 list of 25 venture-backed startups most likely to reach a $1 billion valuation. This year, artificial intelligence dominates the list, with companies leveraging AI across various industries, from customer relationship management and compliance to legal services and manufacturing. Notable startups include Codeium, an AI tool for code autocompletion, and Fireworks AI, which enhances AI model training efficiency. The list, now in its tenth year, has a strong track record, with 58% of its alumni achieving unicorn status.
Jeff Bezos’ brother’s firm has launched a debut $100M VC fund called HIPstr
Mark Bezos' private equity firm, HighPost Capital, has launched a new venture capital arm called HIPstr, debuting with a $100 million fund. HIPstr aims to capitalize on lower startup valuations, focusing on early-stage consumer companies. The fund has already made several investments, including in Kylie Jenner's liquor brand, Wild Common, and the cremation services provider After.com, which recently raised $10 million in a Series A round.
LATAM Startup & Tech News
Copel lanza un corporate venture de 30M$ para invertir en startups energy tech
Copel, a Brazilian electric company, has launched a $30 million Corporate Venture in partnership with VOX Capital to invest in energy tech startups across Brazil and Latin America. Copel Ventures I fund will target Seed and Series A startups focused on renewable energy, energy services, smart cities, asset management, and ESG-aligned processes. The fund aims to invest between $400,000 and $2 million per company to support 15 startups and will begin making investments in 2023.
Cometa: Seizing Growth Opportunities Amid Administrative Challenges
During the pandemic, the administrative weaknesses of private schools in Mexico, particularly in billing, became apparent. Cometa, a startup founded in Silicon Valley in 2021, aims to address these issues by providing a digital platform that automates administrative processes for private schools. The platform has significantly reduced payment delinquency and saved operational time. With $5 million in investment from various venture capital firms, Cometa focuses on improving the payment experience for parents and streamlining schools' billing management.
Tucán secures $1M seed round
Tucán, an Argentinian SaaS platform for restaurant e-commerce and logistics, raised $1M in a seed round led by Shefa, the venture capital arm of IRSA Group. The funds will enhance its technology and customer support to scale operations across Argentina, Chile, Uruguay, Peru, Paraguay, and eventually Mexico.
Mexican Startup Veikul Raises $3M to Revolutionize Logistics
Mexican logistics startup Veikul secured $3M in a seed round combining equity and debt, led by First Check Ventures and supported by business angels like Armando Véjar of Grupo Autofin Monterrey. Veikul connects independent drivers and couriers with digital platforms needing reliable delivery services. The funding will help Veikul enhance its technology and expand operations in Mexico, particularly in Mexico City, Guadalajara, and Monterrey. Since launching in 2022, Veikul has completed over 300,000 tasks and plans to grow in the gig economy, providing vehicles and fuel to support independent workers.
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