LatAm Tech Weekly #180

Happy Sunday!

If you’ve been following along, you might remember that last week I mentioned I might record a video drawing a parallel between the “Search Wars” of the 2000s and today’s “AI Model Wars.” Well — I did find the time, but only on Friday night after work (which partially answers the weekly question of how I manage to publish content while working in IB… what were you doing Friday night?).

The video still needs editing, but I’m aiming to post it on Monday or Tuesday — stay tuned!

In the meantime, I did publish another video this Friday morning — a recap of the latest AI news (PT only), which I recorded last weekend. You can check below, or on my LinkedIn or Instagram profiles.  

On to our usual introduction — a very interesting graph by EY caught my attention: Digital media has officially surpassed the television industry for the first time in 2024! I also wrapped up the Netflix miniseries Adolescence this weekend, and these two pieces of information hit hard, especially when viewed together.

According to EY’s Global Media & Entertainment Outlook, digital media — driven largely by social platforms, influencers, and algorithm-fed content — overtook traditional TV in global revenue for the first time, reaching over $270 billion in 2024. Meanwhile, platforms like TikTok, YouTube Shorts, and Instagram Reels are not just content hubs, but cultural battlegrounds shaping how entire generations develop emotionally, socially, and intellectually.

Where fact meets fiction: this is where Adolescence comes in. The series provides a raw, sometimes disturbing, look into how young people are being impacted by unfiltered, algorithmically amplified content — from toxic beauty standards to disinformation, from addictive behavior to self-esteem crises. And the data backs it up — not just globally, but here in our region too:

• In Brazil, youth spend over 3 hours per day on social media, contributing to the country’s position among the top 5 globally in daily internet usage — at 9h 13m per day, according to DataReportal (2024).
• Brazil is TikTok’s second-largest market, with over 100 million users, most of them Gen Z and young millennials.
• In a UNICEF Latin America study, 6 in 10 children reported being exposed to harmful or distressing content online, and only 22% said they knew how to report it or protect themselves.

Let’s be clear — technology isn’t the enemy. Global connectivity has brought massive benefits: access to education, job creation, awareness of global issues, new avenues for creativity, and more. But like Adolescence reminds us, there are bad actors and flawed algorithms that exploit these same tools for harm. The consequences, especially for the younger generation, are playing out in real time — and at scale.

So, what can be done?

Like in the series, the solution lies not in fear or nostalgia for pre-digital times, but in building systems of accountability, education, and digital resilience:

• Tech literacy should be taught from an early age, helping children understand how algorithms work and how to spot manipulation.
• Parental controls and time limits are only the start — platforms must offer more transparent, opt-in models, especially for younger users.
• Governments, schools, and companies need to collaborate on cross-sector initiatives focused on safe tech, not just smart tech.

As we move into a world where screens are native, not optional, we owe it to the next generation to make sure digital space is not just engaging — but empowering.

Share Weekly Tech Update - Julia

On to a lighter theme (and more usual to this newsletter), Pitchbook’s Emerging Tech Indicator for Q4 2024 showed that top-performing VC firms slightly scaled back their overall investment pace but continued to prioritize large-scale deals. AI and machine learning remained the leading sectors, while climate tech and biotech also attracted significant capital. The standout deal of Q4 was Pacific Fusion, a nuclear startup, which raised an impressive $900 million in its Series A round.

Note that in this report, the publication considers ETI (Emerging Tech Indicator) a limited subset of the world’s most successful VC firms that account for roughly 10% of total VC investment. While a small subset, it is still valid to watch it as these names usually set the trends globally in the VC landscape. However, it also shows how increasingly concentrated the VC market has been as companies invested by these companies tend to outperform the rest at least in terms of valuation and deal sizes.

In recent years, median ETI deal sizes have consistently grown across angel, seed, and early-stage VC rounds — a reflection of broader VC industry expansion, rising valuations, and a shift toward a more investor-friendly environment. However, the recent market correction has disrupted this upward trend, introducing greater unpredictability. From 2019 to 2021, the median ETI angel and seed deal size averaged $3.8 million; in the three years since, it dropped to $2.4 million. That said, after a sharp rise last quarter, the median angel and seed deal size held steady in Q4 at an elevated $6 million. Meanwhile, early-stage deal medians declined to $20 million, reversing last quarter’s gains and underscoring the ongoing volatility in this segment. Non-US deals represented 31.2% of total ETI deals in Q4 2024, in line with the historical average of 31%.

Monday

General news:

• BioUs, a Brazilian deeptech startup, is raising $1M to scale its bioplastics made from aquaculture and agribusiness waste. By converting fish waste into biodegradable biopolymers and biofertilizers, the process reduces water use from 15,000L to just 120L per kg of fish. With applications in agriculture and healthcare, BioUs also developed a nanocapsule for targeted cancer treatment, currently being tested in Paris. Backed by $300K in grants and accelerators, the startup is expanding to Europe and Asia, showing how sustainability can drive efficiency, cost savings, and global impact. 🇧🇷
• Círculo de Crédito and Seedstars partnered to strengthen the Trust-Tech Fund, supporting startups in AI, cybersecurity, and fintech. Selected companies will receive strategic mentorship and access to global networks to accelerate growth. The initiative aims to boost digital trust solutions across Mexico and Latin America. 🇲🇽
• iFood is becoming the anchor investor in a new Yvy Capital-led fund to accelerate Brazil's electric motorcycle market. With an initial $7.5M investment and a goal to raise $50M, the fund will boost battery production, charging infrastructure, and vehicle manufacturing. By 2035, it aims to produce 600K electric motorcycles annually, cut emissions, and reduce delivery costs by up to 60%. iFood targets 50% fleet electrification by 2025. 🇧🇷
• Solfácil hired Mateus Neves as Head of Technology to lead innovation with AI. With prior experience at Seedz and Gaivota, Neves aims to boost automation and data analysis while keeping human expertise central. His arrival follows Solfácil’s R$ 1 billion raise to expand its solar financing and distribution platforms. 🇧🇷
• Carlo.pe is modernizing Peru’s used car market with an online auction platform that offers faster, safer transactions. Sellers receive multiple offers to increase vehicle value, while buyers benefit from financing options and up to 3-month warranties. The platform supports dealers with better pricing and inventory, and ensures secure processes through rigorous vehicle inspections and notary services. 🇵🇪
• Movtech aims to impact six million people in 2025 — double its reach in 2024. Backed by iFood, Mercado Livre, and Instituto Coca-Cola, the initiative has already invested R$ 15M in tech education and created over 5,000 jobs across 1,000+ cities. Programs like Maratona Tech and Impulso Digital will continue to expand, focusing on workforce training and school connectivity.  🇧🇷

Deals:

• Voa Health, a Brazilian startup using generative AI to streamline clinical documentation, raised $3M in a Seed round led by Prosus Ventures. The platform transcribes and organizes patient conversations in real time, reducing paperwork time by up to 80%. Already serving over 20,000 doctors and partnering with major players like Unimed, the company will use the funds to scale product development, hiring, and customer acquisition. 🇧🇷
• Uncover raised R$ 12.5M in a Seed extension round led by ABSeed. The martech, which specializes in Marketing Mix Modeling, has raised R$ 22.5M since 2021 and saw revenue grow 6x in 2024. The new capital will fuel product development and international expansion. 🇧🇷

Tuesday

General news:

• Colombian fintech Sempli launched "Crédito Flexi," a new credit line designed to meet short-term working capital needs for micro and small businesses. Offering 1- to 3-month terms with monthly interest payments and capital due at maturity, the loans start at $10M COP. Sempli targets formal businesses with annual revenues between $300M and $5B COP. 🇨🇴
• Oracle opened the Oracle Innovation Center in São Paulo, its fourth such facility globally. The space features 10 interactive areas showcasing AI shopping, smart hotels, remote inspections, and more. It also offers podcast production with AI editing. Supported by 15 experts and 40 partner companies, the center runs on Oracle Cloud with Nvidia GPUs and already has over 100 companies interested in joining the ecosystem. 🇧🇷
• F360 expanded beyond franchises in 2024, gaining traction among independent retailers and launching new financial solutions. The fintech reached R$ 40M in revenue (up 40% YoY) and aims for R$ 55M in 2025. It now serves over 15,000 retail locations, with Open Finance integrations exceeding 8,000 accounts. F360 is also integrating AI for enhanced financial insights. 🇧🇷
• Audax Capital is betting on the recovery of Brazil’s agribusiness sector with a new R$ 200M credit fund (FIDC). It launches with R$ 50M and targets an additional R$ 150M by 2025. The firm plans to leverage AI for better risk assessment and credit allocation. With R$ 224M under management and R$ 5B in credit operations, Audax sees growth potential where others hesitate. 🇧🇷

Deals:

• GolfSoul, a new Brazilian golfwear brand, raised R$ 700K from angel investors to launch its first collection in the second half of 2024. Founded by twins Roberto and Rodrigo Arello, the e-commerce brand blends style and performance, aiming to fill a gap in the local market for high-quality, non-imported golf apparel. Plans include a physical presence in clubs and stores, plus international expansion. 🇧🇷
• Sanar, a medical education platform, is seeking over R$ 200M in a primarily primary funding round, with Itaú BBA leading the process. Backed by DNA Capital and Valor Capital, Sanar expanded into postgrad education and acquired Cetrus in 2022. With a 20% EBITDA margin, the company is profitable and aims to consolidate its position in the competitive edtech space. 🇧🇷
• Wellhub expanded its European footprint with the acquisition of Urban Sports Club, adding 12,000 corporate clients and 18,000 wellness partners. Urban Sports Club will retain its brand, with co-founders Moritz Kreppel and Benjamin Roth joining Wellhub’s leadership team. The move follows the December acquisition of Italy’s Fitprime, further cementing Wellhub’s global leadership in corporate wellness. 🇩🇪

Wednesday

General News:

• Nvidia is in advanced talks to acquire Lepton AI, a cloud infrastructure subleasing startup, in a deal valued in the hundreds of millions. The acquisition would further Nvidia’s ambitions to compete with AWS, as AI chip demand evolves. Lepton, founded by former Meta engineers, resells GPU capacity and competes with players like Together AI. 🇺🇸
• Vale partnered with Cubo Itaú to drive innovation in mining, supporting startups developing solutions in automation, recycling, and energy efficiency. The initiative aligns with Vale’s open innovation strategy, aiming to make operations safer, more efficient, and sustainable through tech partnerships. 🇧🇷
• TMB invested over R$ 20 million in AI to improve collections, reducing delinquency by 35% and increasing revenue by 22%. The AI solution personalized client outreach, improved efficiency by 272%, and cut resolution time by 87%. TMB aims to keep delinquency below 10% and continues investing in technology to support content creators. 🇧🇷
• Neon appointed Danielle Sardenberg as its new Marketing Director. With experience at Santander, Itaú, and IBM, she’ll oversee Brand, Growth, CRM, and Business Analytics. Named a 2023 “Women to Watch,” Sardenberg will play a key role in driving strategic growth and expanding Neon’s client portfolio in 2025. 🇧🇷
• The Brazilian government has shelved a proposed tax on big tech firms like Google, Amazon, and Meta amid concerns over worsening trade tensions with the U.S. and threats of new tariffs from former President Trump. Instead, it will pursue regulation of digital platforms to tackle anti-competitive practices. Brazil continues monitoring OECD negotiations for global digital tax reform. 🇧🇷
• Meta has launched Meta AI Studio in Brazil, making it available in Portuguese. The platform lets users create custom AI agents via desktop, Instagram, and Messenger — for use cases ranging from cooking advice to meme generation. The initiative aims to personalize social experiences and democratize AI tools. 🇧🇷
• Buenbit, an Argentine fintech, launched "Recurring Purchases" to automate crypto and stock investments using Dollar-Cost Averaging (DCA). Users can schedule daily, weekly, or monthly buys to reduce exposure to market volatility. Within 24 hours of launch, 15% of users had activated the feature. 🇦🇷
• Zendesk unveiled its next-gen AI agents at its annual conference, introducing the Zendesk Resolution Platform with generative search, no-code app building, and the AI Agent Builder. The company emphasized the ongoing need for human agents, even as AI boosts service and operational efficiency. Zendesk for Contact Centers, powered by AWS, was also launched — with Brazil noted as a leading AI adoption market. 🇺🇸
• The Brazilian SEC (CVM) lifted a previous ban on 11 crypto tokens at Mercado Bitcoin, allowing the exchange to resume trading them. The decision marks a regulatory shift, expanding investment options and reinforcing Brazil’s evolving stance on digital assets. 🇧🇷

Deals:

• Strike, a Uruguayan cybersecurity startup, raised a $13.5M Series A led by FinTech Collective. Strike uses AI to automate penetration testing, reducing time from weeks to a single day. Clients include Santander and Mercado Livre. The São Paulo office marks its expansion into Brazil, with plans to enter the U.S. next. Founder Santiago Rosenblatt aims to shift security from periodic tests to continuous validation. 🇺🇾
• Sustineri Piscis, a Brazilian biotech specializing in cultivated fish meat, raised R$ 9.39 million through EqSeed. Using cellular agriculture, the startup produces fish protein without traditional fishing. The funds will help scale production and expand its lab. The alternative protein market is projected to hit $367B globally by 2050. 🇧🇷

Thursday

General news:

• Brazil’s fintech sector continues to expand despite economic headwinds, with over 800 fintechs now active. The Central Bank credits this growth with improving financial inclusion and innovation, especially in payments, lending, and investments. 🇧🇷
• Alura, Brazil’s largest tech learning platform, appointed Adriano Almeida as CEO. With 18 years at the company, he will lead Alura, Alura Para Empresas, and Start by Alura. His strategy includes mentorships and career support for professionals, while founder Paulo Silveira transitions to Chief Vision Officer. Alura serves 3 million students and 5,000 companies with 1,600+ tech courses. 🇧🇷
• The Central Bank of Brazil plans to implement AI to enhance fraud risk scoring for Pix transactions. The system will analyze behavioral patterns to improve detection while preserving speed and efficiency. Financial institutions are expected to integrate the new model. 🇧🇷
• Avenue launched Avenue Wealth Service, a new institutional platform aimed at family offices and investment consultants. Focused on fee-based models, it already accounts for 10% of Avenue’s B2B custody and aims to double by 2025. The platform offers sophisticated assets and offshore support for high-net-worth clients. 🇧🇷
• The Central Bank is set to launch Pix Installments in September, allowing users to split payments directly within the Pix system. The feature is expected to compete with credit cards and installment plans and will include fees and limits. 🇧🇷
• 99Pay named Luiz Landgraff as its new president to lead its next growth phase. Landgraff, formerly Head of Operations and Strategy, will focus on expanding services for Brazil’s underserved populations. Since 2020, the fintech has gained 20 million users and regulatory status as a Payment Institution and Direct Credit Society. 🇧🇷
• Sofya, a healthtech born out of Hospital Sírio-Libanês, developed its own large language model (LLM) and is scaling up for 2025. Now under CEO Marcelo Mearim, the company aims to grow from 200K to 1M consultations, integrating with EHR software and partnering with Oracle and Meta. Sofya offers clinical insights and medication suggestions beyond transcription. 🇧🇷
• Giancarlo Greco, CEO of Elo, was re-elected president of Abecs, Brazil’s card payments association. He will continue steering the industry through Pix’s rise and new installment payment models, focusing on digital innovation and financial inclusion. 🇧🇷

Deals:

• Mendel raised a $35M Series B round to scale its corporate expense management platform across Latin America. Led by Base10 Partners with support from PayPal Ventures and existing investors, the round will fuel AI development and market expansion, with Brazil slated for 2026. 🇲🇽
• FinanZero raised R$ 4.6M after becoming profitable in Brazil. Led by Webrock Ventures, the round values the fintech at R$ 48M post-money. FinanZero will invest in AI and payroll loan products to drive 50% revenue growth in 2025. 🇧🇷
• KredFeed secured $1.5M to support Mexican manufacturing SMEs during the nearshoring wave. Backed by Carabela and Techstars, the funding will scale its credit and tech platform. KredFeed has already financed $400M MXN and aims to bridge the liquidity gap for small exporters. 🇲🇽
• Enthos raised $4 million in late-stage VC funding (March 25, 2025) to expand its insect-based animal feed business. The company transforms food waste into sustainable protein, targeting both food security and waste reduction. 🌎
• OpenAI is finalizing a $40 billion funding round led by SoftBank, pushing its valuation to $300 billion. SoftBank will invest $7.5B, alongside Magnetar, Coatue, Founders Fund, and Altimeter. An additional $30B is expected in a 2025 extension. The round follows a $6.6B raise in October 2024. 🇺🇸

Friday

General news:

• Banco do Brasil launched BB Crédito Mulher Exportadora, a new credit line to support women-led businesses in international trade. Available to companies with at least 40% female ownership and annual revenues between R$1M and R$15M, it offers flexible terms and pre-shipment financing. The initiative complements the Primeira Exportação – Mulheres no Mundo program, which has trained over 450 female entrepreneurs and received recognition from the International Trade Centre. 🇧🇷
• Nuclea reported R$ 626 million in net profit and R$ 1.66 billion in revenue for 2024, driven by growing demand for its digital financial infrastructure solutions. CEO Cleber Martins emphasized innovation and security as key contributors to its strong performance. 🇧🇷
• Delivery workers across Brazil are staging a new "Breque dos Apps" strike on March 31 and April 1, demanding fair pay and safer conditions. The movement spans over 40 cities, calling for a minimum R$10 per delivery and higher per-kilometer rates. Protests will include rallies and motorcades. 🇧🇷
• RankMyApp, a Brazilian startup focused on app visibility, is accelerating international expansion. International revenue rose 12% in 2024, with a target of 20% by 2025. The company is expanding in Latin America and testing the U.S. market, leveraging innovations like AI-powered customer response and churn analysis tools. 🇧🇷
• CoreWeave had a disappointing IPO debut on Nasdaq, opening nearly 6% down despite AI hype. After slashing its offering by 23.5% and pricing below expectations, the company raised $1.5B—well below its $2.3–$2.7B target. Investors cited concerns over high capital costs and reliance on Microsoft. 🇺🇸
• Oppo aims to become the second-largest Android smartphone brand in Brazil by 2029. Currently behind Samsung (37%) and Motorola (23%), Oppo is expanding through its Reno13 series and AI features. The company targets 3,000 stores by 2026 via partnerships with Casas Bahia, Magalu, and Claro. 🇧🇷
• The Brazilian Central Bank has approved the acquisition of Credihome SCD by Grupo Entre, led by Antonio Freixo. The move strengthens Grupo Entre’s presence in real estate financing and aligns with its strategy to expand its financial offerings. 🇧🇷
• Colombian paytech ePayco launched Payouts, a tool to automate bulk payments for suppliers, freelancers, and employees. The solution integrates with ERP systems, reduces manual processes, and offers real-time reconciliation, improving operational efficiency. 🇨🇴
• CFOstartup and Legal Ventures merged to form Zeta, a full-service platform for startups and VCs in Latin America. Zeta offers legal, financial, audit, and tax solutions, aiming to help founders scale efficiently and access capital. 🇲🇽
• Brazil will increase the ICMS tax on international purchases from 17% to 20% starting in April, raising prices for products from platforms like AliExpress, Shopee, and Amazon. Prices may rise up to 18%, especially for electronics, prompting e-commerces to offer discounts and free shipping to offset the impact. 🇧🇷

Deals:

• Tether acquired a 51% stake in Argentina’s agro-industrial giant Adecoagro for $615M. The deal gives Tether control of brands like Las Tres Niñas and Molinos Ala and marks a significant move into real-world assets. 🇦🇷
• BRB, the state-controlled bank of the Federal District, acquired 58% of Banco Master. The banks will operate independently but under the same conglomerate. Daniel Vorcaro steps down as CEO of Master to join the board. 🇧🇷
• Datta Büsiness, a martech founded by Cíntia Gontijo, raised R$ 815K after passing R$ 1M in revenue. Backed by Bossa Invest, the company aims to reach 8,000 clients and triple revenue by 2026. Its SaaS platform offers real-time ad monitoring, AI-powered insights, and automated reports. 🇧🇷
• Magazord acquired 51% of Braavo! to expand into São Paulo’s small retail market. Both companies provide e-commerce solutions for fashion brands and serve 2,700+ clients. This is Magazord’s fourth acquisition as it targets R$ 100M in revenue by 2025. 🇧🇷
• Planne, a tourism e-commerce platform, raised R$ 2.8M to expand its team and tech solutions. With 400 clients across major tourist destinations, the startup provides ticketing, payments, and AI-powered pricing. It targets R$ 250M in sales by 2025. 🇧🇷

Tech Events Radar

I have asked you again on LinkedIn what tech events do you suggest for this year, here is a selection of your responses curated by me for the first half of the year. If you want to see the full list click here.

South Summit

Dates: April 9-11

Location: Porto Alegre, Brazil

Overview: South Summit Brasil is one of the main innovation and technology events in Latin America, bringing together startups, investors, companies and global leaders to foster connections and explore business opportunities. Held annually in Porto Alegre, the event is an extension of the original South Summit, started in Madrid, and highlights the potential of the Brazilian and Latin American innovation ecosystem. With a program that includes lectures, panels and startup competitions, South Summit Brasil promotes the exchange of ideas, drives innovation and puts Brazil on the global technology map.

More info

Brazil at Silicon Valley

Date: April 21-23

Location: Sunnyvale, California

Overview: Brazil at Silicon Valley is an annual conference organized by Brazilian students from Stanford and Berkeley universities, with the aim of connecting the most influential Brazilian leaders and Silicon Valley. Held in California, the event brings together entrepreneurs, investors and academics to discuss the future of innovation and development in Brazil, addressing topics such as technology, sustainability and digital transformation, promoting dialogue between the Brazilian ecosystem and global trends.

INVITE ONLY

Latin American Forum by Riverwood

Dates: April 24-25

Location: Miami

Description: off the record gathering with the main stakeholders, founders, and service providers of the tech ecosystem in Latin America, organized by Riverwood.

INVITE ONLY

Web Summit Rio

Date: April 27-30

Location: Rio de Janeiro, Brazil

Web Summit Rio is the Brazilian edition of one of the largest global technology and innovation events, known for bringing together startups, investors, company leaders and sector enthusiasts. With a program that includes lectures from renowned experts, panels on emerging trends and networking opportunities, Web Summit Rio has established itself as a strategic space to boost ideas, promote partnerships and connect the global innovation ecosystem.

More info

Itau BBA Fifth Annual Tech Summit

Date: May 13

Location: New York

Description: An afternoon in New York with the main founders & funders of LatAm with panels and 1:1 sessions.

INVITE ONLY

APIX

Date: May 15

Location: São Paulo

Description: Over the last decade, APIX has become one of the most anticipated global events focused on APIs and Integrations and its role on business strategies. A dynamic day filled with knowledge sharing and networking for professionals seeking new connections, global trends, partnership opportunities, and valuable technical and business insights regarding Open Finance, Partner Ecosystems, Legacy Modernization and Digital Experiences.

MORE INFO SOON!!!

VTEX Day

Date: June 2-3

Location: São Paulo

Description: Considered one of the largest digital commerce events in the world, VTEX Day brings together big names in retail, including customers, suppliers and influencers, in an environment dedicated to innovation and knowledge. The event is an opportunity to explore solutions, discuss trends, strengthen connections and gain valuable insights to boost business.

More info

FEBRABAN Tech

Date: June 10-12

Location: São Paulo

Description: FEBRABAN Tech is a fundamental event for the financial sector, bringing together banks, fintechs, financial institutions and experts to debate the innovations that are shaping the future of the market. Held annually by the Brazilian Federation of Banks (FEBRABAN), the event reached a record of 55 thousand visitors in 2024.

More info

Others: Canary Summit 2025, H4Results 2025, 16 events by StartSe, DeepTech Days (March), Argentina Tech Week (May)

What am i reading?

• After Market FL (PT ONLY) By Arthurito Faria Lima & Gui Zanin
• Clouded Judgment by Jamin Ball - The New AI Risk Curve
• ION Analytics - Riverwood sees opportunity in fast-evolving enterprise software landscape as it deploys fourth fund – GP Profile

What am i listening to? what am i watching?

• 20VC Podcast: Mitchell Green

Quote of the week:

"We tend to overestimate technology in the short term but underestimate it in the long term" -  Roy Amara, a researcher and futurist (also mentioned several times in a recent episode of the 20VC podcast with Mitchell Green, Founder and Managing Partner of Lead Edge Capital).