Weekly Tech Pulse
Weekly Tech Pulse
From bookkeeping to 3D modeling, AI-powered companies like Finally and World Labs are attracting millions to revolutionize enterprise fintech and digital experiences.
US & International Startup & Tech News
Rappi acquires Fountain9, an Indian company
Rappi has acquired Fountain9, an Indian company specializing in predictive artificial intelligence. This acquisition will allow Rappi to optimize its supply chain using advanced technology to predict product demand, reduce waste, and improve operational efficiency. Fountain9 is known for its predictive analytics platform that helps businesses manage inventories and enhance decision-making. This acquisition strengthens Rappi's commitment to technological innovation in its logistics operations.
Startups shaping the future of generative AI
AWS has announced that 80 companies have been selected to participate in the 2024 AWS Generative AI Accelerator, part of AWS' $230 million initiative to boost the development of generative AI applications by startups globally. With an acceptance rate of less than 2%, these startups will receive up to $1 million in AWS credits and participate in a 10-week program to advance the next generation of generative AI solutions. Participants will also gain valuable insights from partners like NVIDIA and Mistral AI as AWS continues to foster the growth of AI pioneers.
World Labs raises $230M to develop large world models
Fei-Fei Li, the "Godmother of AI" and Stanford professor, has emerged from stealth mode with her new startup, World Labs, raising $230 million from investors including Andreessen Horowitz, NEA, and Radical Ventures. Valued at over $1 billion, World Labs aims to create AI models that understand and interact with the 3D world, targeting professionals in fields such as gaming, design, and engineering. The first product is expected to be launched in 2025, as World Labs develops its “large world models” to revolutionize digital interactions.
Second Front Systems secures $70M in Series C funding
Second Front Systems (2F), a public-benefit software company, has raised $70 million in a Series C funding round. The round was led by Salesforce Ventures with participation from new investors Battery Ventures, as well as existing investors NEA, Moore Strategic Ventures, and Artis Ventures. Second Front Systems focuses on delivering mission-critical software solutions, and the new funding will support the company's continued growth and expansion.
AceUp secures $22.5M in Series A funding
AceUp, the AI-powered Team Transformation Engine®, has raised $22.5 million in a Series A funding round led by PJC, Techstars Ventures, Gaingels Ventures, Water Bear Ventures, and Launchpad Venture Group. AceUp, developed in collaboration with the Harvard-backed Institute of Coaching, provides leadership development solutions aimed at helping enterprises build high-performing teams at scale. The platform combines 1-on-1 coaching, systemic team coaching, and AI-powered talent analytics to enhance team engagement, alignment, and performance.
Atomico raises $1.24B to back European tech startups
Atomico, the venture capital firm founded by Skype co-founder Niklas Zennström, has raised $1.24 billion across two new funds aimed at supporting European tech startups. The funds consist of a $754 million growth-stage fund for startups raising Series B to pre-IPO financing and a $485 million early-stage fund. Atomico’s new funds come at a time when the European tech sector is recovering from valuation declines, and the firm remains focused on helping ambitious startups scale globally.
Finally secures $200M in Series B funding
AI-powered bookkeeping startup Finally has raised $200 million in a Series B funding round. The round includes a $50 million equity investment from PeakSpan Capital and a $150 million credit facility from Encina Capital Partners. Miami-based Finally uses machine learning to automate transaction analysis, payroll processing, tax compliance, and invoicing services, and also offers a corporate credit card. This latest round brings the company’s total funding to $305 million as it competes with other AI-assisted bookkeeping firms like Pilot.
LATAM Startup & Tech News
AltScore raises $8.5M in Series A
AltScore, a startup offering student credit assessment solutions, has raised $8.5 million in a Series A funding round. The investment, led by Mexican venture capital firm ALLVP, aims to drive the company's growth and expand its credit assessment technology. AltScore uses alternative data to help students access educational loans to improve financial inclusion in Latin America. Other investors, including Arcadia and FJ Labs, also participated in the round.
Neon raises $102M in Series E round
The Brazilian fintech Neon has raised $102 million in a Series E funding round led by UK investment fund TCV. This round also included participation from existing investors, such as General Atlantic and Singapore’s sovereign wealth fund GIC. The new investment will enable Neon to accelerate its expansion and continue developing its digital financial services platform in Brazil. With this funding, the company aims to strengthen its market presence and offer new solutions to its customers, further establishing itself as a key player in Latin America's fintech sector.
Gringo raises $12.4M in Series C extension
Gringo, a startup that simplifies the process of international payments, has raised $12.4 million in an extension of its Series C funding round. This additional round, led by venture capital firm J.P. Morgan, adds to previous funding and aims to support Gringo’s platform expansion and development. The company plans to use the investment to improve its payment services and expand into new markets, offering more efficient solutions for international transactions.
Koggi raises $3.1M in investment round
Koggi, a fintech startup, has raised $3.1 million in an investment round led by Second Century Ventures. The funding will be used to expand its operations and develop new financial solutions to transform how consumers and businesses handle transactions and financial services. This financial backing highlights the growing interest in fintech solutions and Koggi’s potential in this competitive market.
Manutara Ventures invests US$750k in Atomic Kitchens
Manutara Ventures has invested $750,000 in Atomic Kitchens, a startup revolutionizing the culinary sector with innovative, tech-driven solutions. The investment is intended to support Atomic Kitchens’ growth and market expansion and accelerate product development. This financial backing underscores the company’s disruptive potential in the culinary industry and investors' interest in startups with differentiated value propositions.
Arvo raises US$4.5M to combat payment fraud
Arvo, a health tech startup, has raised $4.5 million to fight payment fraud in the healthcare sector. The funding, secured in a recent investment round, will enable Arvo to enhance its technological solutions for detecting and preventing transaction fraud, optimizing payment security, and efficiency in healthcare. This investment reflects the growing concern over financial security in the sector and Arvo’s innovative potential to address these challenges.
Plaza raises R$5.5M in pre-seed round
Plaza, a startup leveraging AI to streamline the real estate rental process, has raised R$5.5 million in a pre-seed round led by Magma Partners, a Chile-based fund. Other participants include Latitud and Urca Angels. Plaza’s platform uses generative AI to speed up scheduling, improve response times for real estate agents, and enhance document validation during property rentals. The company’s goal is to make the real estate market as efficient as the financial sector, helping real estate agencies generate more business with fewer resources.
Finkargo raises $95M to triple import financing
Finkargo, a Colombian fintech founded in 2021, has raised $95 million in a Series A extension combining equity and debt. The round was led by QED Investors and Community Investment Management (CIM), with participation from previous investors such as Quona, Flybridge, Nazca, Maya, and OneVC. Finkargo, which offers financing solutions for small and medium-sized businesses in Colombia and Mexico, aims to triple its operations over the next year by expanding its complementary services, including freight financing, supplier verifications, goods inspections, and transport insurance.
Karrot secures $1M to boost digitalization of small and medium businesses in Colombia
Karrot, founded by brothers Santiago and Juan Pineda, has raised $1 million to support the digital transformation of small and medium-sized businesses in Colombia. Karrot integrates various sales channels, including physical stores, e-commerce, and social media platforms, into a single solution. This investment will help Karrot further develop its point-of-sale system and make digital tools more accessible to businesses, enabling them to streamline operations, improve customer experience, and enhance sales management.
Xpendit raises $1M to expand its business
Xpendit, a startup co-founded by Felipe Puntarelli and Diego Philippi, along with two young entrepreneurs Nicolás Ramos and Martín del Castillo, has secured $1 million in a recent funding round. The investment was led by Minga VC and Kuiper VC, with participation from angel investors such as Sebastián Kreis (CEO of Xepelin) and Hernán Orellana (director of BCI). Xpendit offers a solution to control financial movements in companies using WhatsApp and AI, streamlining the management of expenses and corporate transactions.
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