Latin American startups captured US$ 274 mi in September, points out Distrito

Latin American startups raised US$ 274 million in 42 rounds of investments last month, according to the report by Venture Capital do Distrito, a platform specialized in AI implementation projects for corporations in Latin America.  

After a very strong first half, September was marked by a slight slowdown of 17.8% in the volume of resources compared to the same month in 2023, when startups in the region captured US$ 333 million. The number of rounds fell from 65 in September 2023 to 42 last month. Fintechs, with US$ 167.2 million, were the ones that collected the most resources. Retailtechs and foodtechs come just behind, with US$ 53.1 million each.  

Cayena, a Brazilian market for wholesale food inputs, and Rock, which works with CRM solutions, were the startups that raised the largest rounds, US$ 55 million each. Cayena received the funds in a Series B led by Bicycle Capital. Rock already obtained the resources of the Hindiana fund.  

“The late stage market is beginning to show signs of recovery.It is a slow but gradual movement.” comments Gustavo Gierun, co-founder and CEO of the District.“Another highlight of the month was the resumption of the Brazilian market, which had been losing space for Colombia and Mexico”. 

The Brazilian market registered a volume of US$ 183.3 million in September, a drop of 17.8% compared to the US$ 223 million of the same period of 2023, according to the report of the District. Already the number of rounds had a reduction of 42 in September last year to 28 in the last month.  

In September, the number of mergers and acquisitions of startups in Latin America was stable compared to the same month of 2023: there were 11 operations, a volume that was below the monthly average of 16 M&As this year.