Aug 26
Google has announced the creation of a new engineering center in São Paulo, located at the Institute for Technological Research (IPT) of USP (University of São Paulo).
Construction will begin next week, with the opening scheduled for January 2026. The center will focus on innovation in security, privacy and solutions that can be exported globally, leveraging Brazilian talent. The company is hiring hundreds of professionals to join its teams.
Aug 22
Silicon Valley/NY-based firm Lux Capital, investor in Databricks, HuggingFace and others, makes first investment in Brazil.
The $4 million seed round went to Maggie, an AI-powered fintech that aims to create a financial assistant that operates through WhatsApp, allowing users to send money and pay bills. The company has already attracted over 12,000 users since its launch in April.
Magie leverages Brazil’s popular instant payment system, Pix, and plans to expand its services to offer more comprehensive financial advice.
Aug 22
At the Center of Excellence in Artificial Intelligence (CEIA) at the Federal University of Goiás, startups are developing advanced technologies such as autonomous agricultural robots and drones that can detect plant diseases. This technological push is transforming the region’s agribusiness sector, which contributes 23.8% to the national GDP.
The technological impulse is evident in the data from Radar AgTech Brasil 2023, carried out annually by Embrapa. In 2019, there were 1,125 agritechs in Brazil. This number jumped to 1,953 companies in 2023. 57% of these agtechs are located in the Southeast.
Aug 21
This stablecoin is pegged to the U.S. dollar at a one-to-one value and is available to all Mercado Pago clients through its app. The launch adds to Mercado Pago’s existing crypto offerings, which include trading options for bitcoin and ether. The crypto asset platform Ripio will act as an exchange and market maker for these transactions.
Aug 19
AI in Brazil
During the Startup Summit 2024, Sebrae presented a comprehensive overview of AI startups highlighting significant growth in the sector.
The report revealed a 34% increase in the number of AI startups compared to the previous year, totaling 1,673 companies. This surge reflects the accelerated adoption of AI technologies across various industries in the country.
Aug 17
Despite the closure of its operations, the platform will remain accessible to Brazilian users.
This move underscores ongoing tensions between X’s owner, Elon Musk, and Brazilian authorities over issues of censorship.
Aug 16
MIT Technology Review Brazil highlights 18 young innovative Brazilians to watch.
They are recognized for their groundbreaking contributions across various fields such as technology, sustainability, and healthcare, showcasing Brazil’s growing influence in global innovation. Their work not only addresses local challenges but also offers solutions with potential worldwide applications.
Aug 15
BayBrazil Board Member Anderson Thees has been appointed the new Managing Director of Endeavor Brazil.
Co-founder of Redpoint eventures, Anderson is a veteran in the tech industry. He’s had roles at UBS, Eccelera, Naspers, and Itaú and has been a mentor at Endeavor for the past two decades.
He will lead an organization with 70 employees and will aim to create “decacorns”—companies valued at over $10 billion
Aug 14
BayBrazil gathered tech founders/investors in a celebration of entrepreneurship and music for a good cause: fundraising for flood victims in Rio Grande do Sul.
The event highlighted the impact of generative AI on startups and showcased how Brazilian founders are leveraging AI to scale and innovate.
The program also included a keynote by Coursera CEO Jeff Maggioncalda and a musical jam session with American and Brazilian musicians.
Aug 14
Google has acquired AI startup Character.AI for $5 billion.
Co-founded in 2021 by former Google engineers Noam Shazeer and Brazilian Daniel De Freitas, Character.AI is known for developing chatbots that simulate conversations with historical figures like Albert Einstein and Barack Obama. The acquisition includes a $3.3 billion payment to shareholders and $1.7 billion to license the technology. This move aims to bolster Google’s AI capabilities and highlights the challenges startups face in remaining independent amid the dominance of tech giants.
Aug 14
Parfin, a fintech specializing in digital asset infrastructure, has secured $10 million to enhance its blockchain network development, in a round led by ParaFi Capital. The investment, which is part of a series A round, also had participation from Framework Ventures, L4 Venture Builder, from the B3 stock exchange, and Núclea. The total round could reach almost R$ 90 million by the end of the second closing. The funding will support the company’s ongoing projects, including its participation in the Central Bank’s Drex initiative, which is currently in the testing phase.
News gathering by Thais Chertman
