Financing roundup: Lavca’s Q3 stats, AI investments, the latest funding rounds, and more

Private capital funding in LatAm reaches US$4.2bn

Fund managers secured US$4.2bn in commitments for 55 Latin America-dedicated funds in January-September this year, according to the latest report from Latin American private equity and venture capital association Lavca.

That figure is lower than the US$7.2bn tracked in the same period of 2023 and US$8.4bn in 2022. In the whole of 2023, private capital fundraising in Latin America reached US$11.9bn.

In 3Q24 alone, according to Lavca, fund managers raised US$329mn across 12 Latin American-focused funds, most of which went to startups and tech-based firms. 

Fundraising through 2024 has primarily been concentrated in infrastructure & natural resources (US$2bn) and private credit (US$1.7bn) strategies, added the entity.

Healthtech Mevo backed by Dutch firm Prosus

Brazilian healthtech Mevo, focused on digital medical prescriptions, received an investment of 29mn reais (US$4.8mn) led by Prosus Ventures, the venture capital arm of Dutch tech-focused investment firm Prosus.

That adds to the 110mn reais raised by Mevo in a Series B round in September which was led by Matrix and family office Jefferson River Capital.

The company aims to use the funds proceeds to expand the base of hospitals, enhance technology and launch new products.

Mevo reports over 1,000 hospitals as clients and 10mn patients served by its technology.  

Chile’s Yourney raises new funds

Chilean startup Yourney closed a US$1.6mn investment round, backed by the Invexor fund and a group of investors and strategic advisors, reported local daily Emol.

The investors include Bernardo Quinn, director and former global CHRO of Telefónica; Hernán Orellana, former general manager of Microsoft in Chile and director of bank BCI; and Karina Awad, senior VP of human resources at Grupo Axxo in Mexico.

Focused on HR and workforce management, Yourney has already established itself in Mexico and is now eyeing Europe for its 2025 expansion plans.

Colombia’s Bia Energy powers up new funding

After securing a US$10mn credit line from BBVA Spark in September, Colombian real-time power consumption analytics startup Bia Energy raised U$8.5mn in a round led by RA Capital Management Planetary Health and IDB Lab. 

According to Colombian weekly Semana, the capital will support the company for an upcoming Series B round.

Founded in 2002 in Bogotá, Bia offers a digital platform that enables companies to optimize energy consumption and costs, as well as simplify power procurement and management.

The startup now reportedly has over 3,000 users that together generate US$8mn in monthly fees.

FCamara ups investments in AI

IT consultancy FCamara invested 30mn reais in the last 12 months to develop applications related to artificial intelligence (AI). 

The money was allocated to infrastructure, processes, training and hiring, in addition to applications for its clients' projects, the company said in a statement. It represents an increase of 1,400% compared with the previous year. 

FCamara also said it hired 80 professionals, meaning it now has 350 staff dedicated to consulting projects involving AI. The company also mentioned that its portfolio of AI-related projects has grown by more than 500% in one year, reaching sectors such as health, finance and industry.

Accounting fintech closes 60mn-real round

Brazilian fintech Agilize, specialized in accounting solutions, closed a new investment round worth 60mn reais to expand its services.

Focused on micro, small and medium-sized companies, the firm, based in Bahia state, reports more than 25,000 clients and services in 600 cities across the country.

The new investment was led by AXA, a global alternative investment company, followed by L4, an independent fund with capital from B3, in addition to its exiting investor and POS payment machine group Stone.

Teachy raises money to expand in AI-supported education

Brazilian edtech Teachy received a 40mn-real Series A round led by Goodwater Capital, deemed the world’s largest venture capital fund specializing in consumer technology, with a track record of investing in companies such as Monzo, Zepto, Weee!, Facebook, Spotify and Twitter.

Teachy is focused on supporting teachers by offering customizable curriculum-aligned materials co-developed with AI. The company intends to use the funds to enhance solutions and technology and launch in the US, among other things.

The round also included participation from Reach Capital, which focuses on early-stage investments in education, healthcare and employment sectors, along with Endeavor, NXTP and Roble Ventures, which have previously invested in the company. 

The round is reportedly Goodwater's and Reach Capital’s largest investment in the Brazilian education sector to date.