Early-stage venture capital fund Newtopia VC launched Monday with $50 million to invest in tech startups based in Latin America. Mayer told TechCrunch that he sees a great moment happening in Latin America around global venture capital firms — like Sequoia Capital, Andreessen Horowitz and SoftBank —making bets in the region, especially targeting later-stage investments.
The Mexico City-based B2B software and payments company provides three products, VendorPlace, P-Card and PorCobrar, for managing cash flow, optimizing access to smart liquidity, and connecting small, midsize and large businesses to an ecosystem of digital tools. The company has grown to over 800 customers, up from 200 in the first quarter of 2020. Its headcount also grew to 100 from 30 during the same time. In the last 12 months, over 70,000 companies have transacted on the Yaydoo network, and total payment volume grew to hundreds of millions of dollars.
Merqueo offers more than 8,000 products, including fresh foods, packaged goods, home essentials, beverages and frozen products. It currently operates in more than 25 cities in Colombia, Mexico and Brazil and has over 600,000 users. The market opportunity in Latin America is massive considering that online grocery sales only represent just 1% of the market –– far lower than in the U.S., EU or China, for example.
Enterprise AI vendor Uniphore has acquired CDP ActionIQ and cloud data engineering system Infoworks. The combination of products will create a Zero Data AI Cloud that simplifies AI deployments by enabling companies to access data for AI projects without moving it from existing systems. Prices were not announced.