Financing watch: BNDES funding, Intelbras hub, Prometeo’s growth, dealmaking stats

Brazil’s BNDES approved a 31mn-real (US$5.4mn) funding for IoT manufacturer Constanta to develop smart sensors for public lighting, sanitation, gas and agribusiness.

The resources will come from Funttel, the national fund for the technological development of telecommunications, which is managed by the development bank.

Constanta will use the proceeds to modernize and increase production at its plants in Atibaia and Manaus. The BNDES funds represent around 70% of the project capex, budgeted at 44.5mn reais.

Intelbras invests in center expansion

Also in Brazil, local electronics manufacturer Intelbras invested 120mn reais in a new distribution center in São José, Santa Catarina state. 

With 43,000m² in area, the site is close to the company's factory and according to Intelbras was necessary to absorb new market demand, especially that coming from the energy sector. 

The company also plans to increase its workforce by around 15% by the end of the year. Currently, Intelbras has over 5,000 employees.

Prometeo’s plans following funding

Uruguayan payment solutions provider Prometeo plans to expand its business in Argentina, Peru, Panama and the Dominican Republic, among others, and triple its LatAm-operations following a US$13mn series A closed in January this year.

Since the investment, the company launched in the US and said that it has increased the number of clients and transaction volume but did not provide figures.

Prometeo said it expanded its workforce by 20% with new hires in the areas of sales, technology and compliance in Uruguay, Venezuela, Brazil, Mexico and Argentina.

Dealmaking in Colombia, Argentina, Chile and Peru

Dealmaking in Colombia saw 124 transactions, between M&As, venture capital, asset acquisitions and private equity deals, for an aggregate disclosed amount of US$2.26bn in the first half of the year.

The figures are down by 9.7% and 8.1% year-over-year, respectively, according to a country breakdown by TTR. TTR had already published a LatAm report and breakdowns for Brazil and Mexico covering the period.

The software-specific segment was the most active in Colombia, with a total of 21 transactions, followed by the food industry with eight.

Argentina

In Argentina, TTR mapped 84 deals for nearly US$3.1bn in H1, down 23% but up 213%, respectively. 

According to TTR, the venture capital mobilized increased 41%.

As in Colombia, software led the pack with 18 transactions, for 13% growth.

Chile

The country saw 138 transactions for US$3.78bn in the first six months, down 37% and 61% from a year earlier, said TTR.

Software led with 20 transactions and TTR highlighted the growth in asset acquisitions, with an increase of 13% in deals in the period.

Peru

Finally, Peru saw 63 deals in H1 and US$1.46bn in aggregate disclosed value – declines of 11.3% and 65%.

The number of deals in the software segment grew 50% to nine.

The US, Chile and Canada were the top three markets in inbound transactions in Peru. Peruvian firms, for their part, targeted mostly Chile, Ecuador and the US, according to TTR.