Weekly Tech Pulse
From Kobold Metals' $537M raise for AI-powered copper exploration to Accel's $650M India fund, and Rembrand's $20M for redefining B2B marketing, innovation takes center stage.
US & International Startup & Tech News
Kobold Metals Uses AI to Find Copper, Raises $537M
Kobold Metals, a company using AI to locate critical minerals like copper, has secured $537 million in funding. The company’s technology has proven effective in identifying copper deposits crucial for renewable energy systems and EV batteries. Backers include major venture firms betting on its unique approach to resource exploration.
Source: TechCrunch
Accel Closes $650 Million for New India Fund
Accel has raised $650 million for its seventh India-focused fund. The fund aims to back early-stage startups in sectors like fintech, SaaS, and healthcare. Accel’s past successes in India include Flipkart and Freshworks, and the new fund is expected to foster another generation of unicorns.
Source: TechCrunch
Rembrand Secures $20M to Redefine B2B Marketing
Rembrand, a startup focused on AI-driven B2B marketing solutions, has raised $20 million in Series A funding. The company aims to streamline lead generation and customer retention for businesses with innovative AI tools.
Source: VC News Daily
QoLab Lands $15M for AI-Powered Collaboration
QoLab, which develops AI-powered tools to enhance team collaboration, has raised $15 million in funding. The investment will help expand its platform and grow its global customer base.
Source: VC News Daily
AusperBio Secures $35M to Advance Biotech Solutions
AusperBio has raised $35 million in Series B funding to advance its biotech platform focused on personalized medicine and advanced diagnostics. The funds will accelerate research and development to bring cutting-edge solutions to market.
Source: VC News Daily
LATAM Startup & Tech News
Vuori, Competitor of Lululemon, Reaches $5.5B Valuation
The athletic apparel brand Vuori, founded in a garage in 2015, has achieved a $5.5 billion valuation after raising $825 million in 2023. Surpassing competitors like Lululemon and Athleta, Vuori recorded 23% growth in 2023 compared to the general sportswear market's 4.3% growth. While facing challenges in a saturated market, the company plans global expansion and an IPO.
Source: CNBC
SP Ventures Launches New Fund Backed by DFI
Brazilian venture capital firm SP Ventures has raised $22 million for its new agtech fund, with plans to reach $80 million by 2025. Despite challenging macroeconomic conditions, the fund has attracted investors like AGCO and BASF. It will focus on agricultural innovations and sustainability, with investments already made in agfintech and biotechnology.
Source: Latin Finance
Cofers Raises $1M to Transform Business Treasury Management
Mexican startup Cofers, which automates business treasury management with artificial intelligence, has raised $1 million. Its platform reduces critical task time by up to 75%, offering automatic reconciliations and real-time analysis. Founded by Alex Casanova and Eduardo Gulias, Cofers aims to revolutionize financial management in Mexico with constant innovation.
Source: El Financiero
€50M Fund Created for AI in LATAM
GVC Gaesco and Next Tier Ventures launched a €50 million fund to invest in AI startups in Mexico, Colombia, Argentina, and Chile. The fund will focus on B2B projects that enhance industries and improve lives, targeting early-stage startups. It will also consider companies in Europe and the U.S. to maximize returns, highlighting AI's role in economic growth and competitiveness.
Source: El Espectador
ISA Launches $130M Fund for Energy Startups
Colombian energy group ISA has created a venture capital fund called Inndigo, supported by Wayra (Telefónica’s open innovation subsidiary). Inndigo will invest up to $130 million by 2030 in Series B startups focused on energy transition. This fund aims to lead the global implementation of energy solutions through innovation and entrepreneurship.
Source: Global Venturing
Prosus to Acquire Despegar for $1.7B to Expand Regional Presence
Dutch tech investor Prosus will acquire online travel platform Despegar for $1.7 billion to strengthen its presence in Latin America. The purchase includes a 33% premium over share value, with shares rising 32% after the announcement. Operating in 19 countries, Despegar will integrate with Prosus businesses like iFood and Sympla, bolstering its regional strategy.
Source: El Economista
Banco Itaú Acquires Uruguay-Based Payments Platform Plexo
Banco Itaú has acquired 100% of the Uruguayan payment platform Plexo to enhance e-commerce for businesses in Uruguay and strengthen its position in the fintech ecosystem. This acquisition is part of Itaú's strategy to drive financial inclusion and develop digital tools for individuals and businesses. The agreement is pending regulatory approval in Uruguay and Brazil. Itaú aims to improve payment solutions, especially for local businesses, and expand digital commerce, which grew 15.7% in Uruguay in 2023.
Source: El País
Kamay Plans 10 New Investments in 2025, Sees Improved Conditions for Argentine Startups
The investment fund Kamay plans to make 10 new investments in 2025, citing improving conditions for startups in Argentina. Key sectors include technology, fintech, and sustainable solutions. Kamay anticipates a favorable scenario for entrepreneurs looking to scale their businesses in a more stable economic environment.
Source: Bloomberg Línea
TikTok Shop is Coming to Mexico
Mark your calendars! TikTok is launching its social commerce platform in Mexico on January 8 for select sellers, with full consumer access starting February 13.
After generating over $100 million in sales during Black Friday in the U.S., TikTok Shop presents a unique opportunity for creators and brands through affiliate marketing, short-form videos, and live shopping.
Can TikTok Shop compete with Mercado Libre and Amazon Mexico? We believe it has a strong chance. Join Ethan Kramer in Monterrey on February 8 for a masterclass on strategies from the U.S. launch that can help you succeed in Mexico.
Newsletter subscribers can get a 15% discount on tickets with the code "PULSE."
Special thanks to our sponsor:
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