Latin American startups raised US$ 274 million in 42 investment rounds during the last month, points to the Venture Capital report from Distrito,specialized platform for AI implementation projects for corporations in Latin America. Brazilian companies stood out by raising 66% of the total amount collected in the region.
After a very strong first semester, the month of September was marked by a slight slowdown of 17,8% in the volume of resources compared to the same month in 2023, when the startups in the region raised US$ 333 million. The number of rounds fell from 65 in September 2023 to 42 last month. Como fintechs, with US$ 167,2 million, they were the ones that raised the most funds. Retailtechs and foodtechs are coming right behind, with US$ 53,1 million each.
The Brazilian Cayena, marketplace for wholesale food supplies purchase, the Rock, that works with CRM solutions, it was the startups that raised the largest rounds, US$ 55 million each. Cayena received funding in a Series B led by Bicycle Capital. Rock has obtained resources from the Hindiana fund. With the investment, bought Bnex.
The late stage market is starting to show signs of recovery. It is a slow movement, but gradual."comments Gustavo Gierun, co-founder and CEO of Distrito. Another highlight of the month was the recovery of the Brazilian market, that was losing ground to Colombia and Mexico.
The Brazilian market recorded a volume of US$ 183,3 million in September, a drop of 17,8% compared to US$ 223 million in the same period of 2023, according to the District report. The number of rounds decreased from 42 in September of last year to 28 last month.
In September, the number of mergers and acquisitions of startups in Latin America remained stable compared to the same month in 2023: there were 11 operations, volume that remained below the monthly average of this year of 16 M&As
