The recent expansion of investments in technology in Brazil has shifted the interest of funds to verticals previously underserved by the ecosystem. Survey of the District shows that, only in 2024, solutions aimed at retail, industry, food and pet market moved more than R$ 3.8 billion in contributions. This jump boosted Start Growth, a manager founded in 2014, to officially expand its thesis to four new segments: Retail Tech, IndTech, FoodTech and PetTech. The change meets the demand of startups that have already validated their products and now seek capital and operational support to scale.
According to Marilucia Silva Pertilco-founder of Start Growth and a mentor to startups, the decision comes after observing the accelerated growth of these sectors in digitalization metrics, demand for efficiency and consumption expansion.“These verticals have evolved very fast and today represent robust opportunities for highly scalable businesses.Our interest is to support founders who have already proven the pain they solve and need structure to gain traction”, she says.
In retail, the Brazilian digital trade should exceed R$226 billion in sales in 2025, according to data from ABComm. In the industrial sector, the Global Smart Industry Survey report points out that 74% of companies plan to expand investments in automation and data analysis. The food area continues to expand continuously: a study by Euromonitor projects that the global FoodTech market should grow more than 42% by 2027, driven by food safety, logistics and intelligent solutions. Already the Brazilian pet market, the second largest in the world according to RTPB, annual sales of health and R6 billion.
With the expansion of the thesis, Start Growth starts to seek startups that operate directly in these sectors with SaaS models, data intensive use, automation and focus on operational efficiency. Marilucia highlights that the goal is not only to follow trends, but to support segments in which technology is a critical factor for expansion. “O what moves us is the maturity of the market. Each of these verticals presents very clear pains, ready to be solved with technology. When there is a real problem, there is room for” scale, he explains.
In the new phase, the manager will evaluate solutions that include everything from omnichannel and logistics platforms for retail to industrial prediction systems, food marketplaces, technologies for traceability, nutrition and pet health, as well as specialized management tools. The executive reinforces that, regardless of the sector, three criteria remain non-negotiable: validated traction, clarity in the monetization model and execution capacity of the founders.“tartups that do not dominate their indicators, such as CAC, LTV and churn, are hardly able to scale. Our role is to enter when there is concrete potential and help structure the next phase, he says.
The expanded thesis will be incorporated into the next investment batches of Start Growth, which maintains an accelerated pace of selection. The manager uses the Start Growth Method, a structure that combines capital, operation and market intelligence to accelerate business in up to two years and prepare them for new rounds. “The market is more selective, but the opportunities are there for those who solve real pain. These four sectors bring together urgent demands and growth space. Our expansion follows this REALITY”, concludes Marilucia.
