Feb 28
Brazilian corporations and startups laid off over 2,700 employees this month.
At neobank Neon and online language school Fluency Academy, 200 workers were impacted in each company, according to LayoffsBrasil.
The list also includes Google, PetLove, C6 Bank, Loggi and others.
Feb 24
inDrive, the global mobility and urban services platform which has 359 employees in Brazil, raised $150 million in an innovative hybrid instrument from General Catalyst, targeting marketing funding, including user acquisition and retention costs. General Catalyst previously participated in inDrive’s $150 million Series C investment round led by Insight Partners in the year 2021.
Feb 23
The startup Dattos, which provides technology to automate the accounting management of companies, raised a Series A round in the amount of R$ 20 million. The investment was led by the venture capital manager Igah Ventures and had the participation of ABSeed, Investtech and GR8 Ventures.
Feb 23
ContaFuturo, a startup focused on Financial solutions, received a R$ 20 million investment from Empirica to expand its operation. The startup offers affordable alternatives for financial demands.
Feb 15
Estoca, a startup specializing in logistics for e-commerce, has just received an investment of US$ 6.1 million (R$ 32 million) to invest in new freight tools, stock replenishment solutions and national expansion. The round was led by Astella and included participation from FJ Labs and Irongrey. Investors Canary and Marathon, who have already invested in the startup, also participated in the round.
Feb 14
Celcoing, specialized on financial and banking technology, acquired Financystech, focused on open finance for R$85 million. Celcoing investors include BTG, Vox Capital, Innova Capital and Torq Ventures.
Feb 14
The DB1 Group acquired the startup Smarppy, specialized in consulting, professional training and software development for small companies for an undisclosed amount
Feb 14
BRB bank launched its new Corporate Venture Capital fund, BRB Venture Capital Fundo de Investimento em Participações. Initially, R$ 50 million will be invested in early stage startups. Leading the new fund are Bossanova Investimentos and KPTL. Together, the companies will structure, select and manage CVC resources.
Feb 10
Arthur Mining, a business based on cryptocurrency mining services, became energytech and raised R$ 23.5 million. The energy tech was created by Brazilians and headquartered in the U.S. to bring efficiency to the energy sector through the profitability of lost or wasted energy. The round was raised with several family offices in the U.S. and Brazil, with investments and connections to major brands in the energy sector in both countries.
Feb 9
The case of retailer Americanas, which filed for bankruptcy protection last month after a R$20 billion of accounting irregularities, “casts a harsh light on the cost-cutting business model that Jorge Lemann created at 3G Capital”.
Feb 6
Viveo, holding company for the manufacturing and distribution of healthcare materials, acquired 100% of Far.me, a pioneer in Brazil to distribute medicines through the subscription model. Viveo had already held a 35% stake since 2020. The value of the acquisition was not disclosed.
Feb 3
Grocery deliverer JOKR/Daki doubles down on Brazil and raised about $50 million in a Series C investment on a $1.3 billion post-money valuation. The funding follows a $260 million round announced in November 2021. The new investment was buoyed by existing investors, with G Squared leading the round and GGV Capital, Tiger Global Management and HV Capital participating.
January-February of 2023
BayBrazil has been inviting Brazilian Founders and CEOs to share their expectation for 2023.
News gathering by Thais Chertman
