Weekly Tech Pulse
Weekly Tech Pulse
From Twelve’s $645M for sustainable aviation fuel, Y Combinator’s increased cohorts, and funding rounds for LATAM startups like Mercately and Cayena, showcasing global momentum in tech and startups.
US & International Startup & Tech News
Twelve lands $645M to finish building sustainable aviation fuel facility in Washington state
Twelve, a sustainable aviation fuel (SAF) startup, secured $645 million in funding to complete its first commercial-scale SAF facility, AirPlant One, in Moses Lake, Washington. Set to begin operations next year, the plant will produce SAF using ethanol and hydropower, helping decarbonize the aviation industry. While SAF is seen as a key solution for reducing aviation's carbon footprint, current global production remains minimal at less than 1% of total aviation fuel used.
Silicon Valley’s Y Combinator to Double Number of Cohorts Per Year
Y Combinator (YC) is expanding its startup accelerator program from two cohorts a year to four, adding spring and fall sessions to its traditional winter and summer cohorts. Starting in 2025, each cohort will be smaller, with roughly half the size of recent batches, but the total number of startups per year will remain around 500. This change, led by YC President Garry Tan, aims to be more responsive to founders and provide more frequent investor Demo Days while maintaining the program’s quality and network value.
How Techstars, Meta helped profitable LatAm startup Mercately raise a $2.6M seed
Mercately is a Latin American startup building B2B software that enables brands to sell directly through WhatsApp, leveraging the platform’s widespread use in the region for e-commerce. Founded by Henry Remache in 2021, the company integrates AI and platforms like Stripe to streamline payments and communication within WhatsApp. Having raised a $2.6M seed round led by Inventus Capital Partners and SVQuad, Mercately aims to expand its presence in Brazil and the U.S. while continuing to develop its AI capabilities.
Group14 lands $200M grant to build factory to make key ingredient for battery materials
Group14 Technologies has received a $200 million grant to build a silane gas plant in Moses Lake, Washington, as part of efforts to bolster domestic battery production. The facility will support the startup's next-generation silicon-carbon battery materials, which promise to improve battery performance and charging speed. The funding, allocated by the U.S. Department of Energy through the Bipartisan Infrastructure Law, aims to strengthen the U.S. clean energy supply chain and reduce reliance on foreign battery materials.
SparkLabs closes $50M fund to back AI startups
SparkLabs, an early-stage venture capital firm known for backing AI companies like OpenAI, has launched a new $50 million AIM AI Fund to invest in global AI startups, including those in its Saudi-based AIM-X accelerator. The fund will support early-stage startups and Series A/B investments, aiming to back 50-70 companies. This move highlights the growing global AI opportunity, with SparkLabs already investing in 14 startups across various industries.
LATAM Startup & Tech News
Cayena raises a $55M Series B round led by Bicycle Capital
Cayena, a Brazilian B2B marketplace for wholesale food supplies, raised $55M in a Series B funding round led by Bicycle Capital, with participation from several investors. The company plans to use the funds to expand its geographic reach to 500 additional cities in Brazil, aiming to solidify its position as a key player in the food supply chain by offering next-day delivery, real-time pricing, and integrated payment solutions.
Startup of founders of Xepelin and Magma Partners plus two twenty-somethings raise US$ 1 million to expand business
Xpendit, a Chilean startup co-founded by Felipe Puntarelli, Diego Philippi, Martín del Castillo, and Nicolás Ramos, aims to be the Latin American version of Ramp by managing corporate financial expenses via a WhatsApp bot and AI. Founded in March 2023, Xpendit already has over 100 corporate clients and 4,000 active users. The company recently closed a $1 million funding round with support from key investors, including Sebastián Kreis, CEO of Xepelin, and other angel investors from Chile and Mexico.
Veikul, Mexican logistics startup, acquires Dropin
Veikul, a Mexican logistics startup, has acquired Dropin, a platform focused on shipping solutions for businesses with high delivery volumes. The merger will strengthen Veikul’s technological and operational capacity, while Dropin will leverage Veikul’s scale to expand its services. Both companies aim to offer a more efficient, robust, and scalable service, benefiting their customers with faster and more secure deliveries.
Clip, Mexican fintech, launches new wallet for SMEs
Clip, the Mexican fintech unicorn, launched a new digital wallet to support SMEs. This solution aims to facilitate payments and manage finances, taking advantage of growing banking interest in the sector. Clip recently raised $100 million to expand its offerings, including improvements to its point-of-sale (POS) system.
Yolo Bank raises $500,000 in pre-seed round
Yolo Bank, a Brazilian neobank, raised $500,000 in a pre-seed round led by Marathon Ventures. The capital will be used to enhance its AI technology and hire new talent, primarily to facilitate integration with universities. Yolo Bank offers financial services, including debit and credit cards and student tuition discounts. Founded in 2023, it already has 700,000 customers and 76 partner universities in Brazil.
11xAI raises $24 million in a round led by Benchmark
11xAI, a startup creating AI-powered digital employees, raised $24 million in a Benchmark-led round. The company aims to automate complex tasks through advanced AI, such as technical support and sales processes. The funding will help 11xAI improve its technology and expand its team. This investment reflects the growing interest in AI-based solutions to optimize business efficiency.
Koltin, Mexican health and insurance startup for seniors raises $7 million
Koltin, a Mexican startup specializing in health services and insurance for seniors, raised $7 million in a funding round led by Left Lane Capital. The funds will be used to expand its platform, which provides access to healthcare and insurance tailored to the needs of the elderly in Mexico. Koltin seeks to improve the quality of life for this demographic through accessible technology and products.
Cayena closes $55M Series B funding
Cayena, a São Paulo-based B2B marketplace that connects restaurants, bars, and kitchens with suppliers, raised $55M in a Series B round led by Bicycle Capital. Picus Capital, Coca-Cola FEMSA Ventures, and Astella also participated. The funds will be used to expand operations and further develop the platform, which optimizes supply acquisition using data and intelligence.
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