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Dealflow.la #8 - Argentina 🇦🇷 levies tax on travel & concerts, Foodology 🇨🇴 raises a $50 Million A16z-led Series B, DR 🇩🇴 militarizes border, and crime disrupts Chilean 🇨🇱 mining exports.
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Tipspace 🇧🇷 raised a $3 Million Seed round from Upload Ventures 🇧🇷 to allow gamers to find competitors using their matchmaker and then monetize their matches by allowing the safe transfer of paid-in prize money after the match’s conclusion—minus their 8% fee.
Arch 🇨🇱 raised a $5M Seed round co-led by Digital Currency Group 🇺🇸 and Upload Ventures 🇧🇷 with funding from Ripio Ventures 🇺🇸, TechStars 🇺🇸, Soma Capital 🇺🇸, Platanus Ventures 🇨🇱, Devlabs 🇺🇸, and Genesis Block Ventures 🇺🇸 to allow users to build a well-diversified crypto portfolio, in minutes with professionally-built investment strategies to own the best Web3.
Solvento 🇲🇽 raised a $5 Million Seed round from Susa Ventures 🇺🇸, Quona Capital🇺🇸, Zenda 🇺🇸, Proeza Ventures 🇲🇽, Dynamo 🇺🇸, and 9Yards Capital 🇺🇸 to allow SME carriers to automate payments, advance bills, and solve their liquidity needs.
Vozy 🇨🇴 raised a $5 million Pre-Series A round ($4 Million equity/ $1 Million Debt) led by GoHub ventures 🇪🇸, with funding from Starling Ventures 🇺🇸, SaxeCup 🇺🇸, Founder of Dropbox Arash Ferdowsi 🇺🇸, Globant 🇺🇸 , and Enlaces 🇩🇴 to become the leading Voice AI solution in LatAm. They have three products; their conversational assistant Lili, voice biometrics for user verification, and speech analytics for conversation analysis.
AEVO Innovate 🇧🇷 raised a $13.6 Million Series A round from TM3 Capital 🇧🇷 to allow companies to manage ideas, open innovation, innovation projects, and strategy with OKRs.
Elenas 🇨🇴 raised a $20 Million Series B round from VU Venture Partners 🇺🇸, Reflect Ventures 🇺🇸, Leo Capital 🇮🇳, Grupo Bolivar 🇨🇴, Endeavor Catalyst 🇺🇸, and DILA Capital 🇲🇽 to catalyze the growth of what is already the largest social e-commerce platform in Latin America. Elenas allows 11 million women across LatAm sell consumer good products through direct sales catalogs and door-to-door sales. Elenas provides a digital solution for them to start an online store, manage clients, and grow their business from home, without having to worry about product sourcing, delivery, or payment collection.
Watch the Semilla.VC Podcast episode with Elenas CEO Zach Oschin.
Foodology 🇨🇴 raised a $50 Million Series B round led by A16z 🇺🇸 and Base Partners 🇧🇷, with funding from Wollef Ventures 🇲🇽, Kayyak Ventures 🇨🇱, and Chimera Investment 🇦🇪 to scale the creation and operation of digital/cloud restaurant brands made for delivery. Unlike other kitchen groups that bring in existing restaurants, Foodology specializes in creating brands from scratch, then operating and scaling them quickly to profitability. They do this by collecting data on geography and what consumers like and then creating original dishes with delivery.
Lulo Bank 🇨🇴 received $200 million from International Holding Company (IHC) 🇦🇪 which increased IHC’s stake from 25% to 49% to provide money transfers and other financial services for more Colombians and catalyze their international expansion.
The Argentinian government is applying new taxes on travel abroad ahead of the World Cup, as well as on concerts by artists who charge in a foreign currency, as Buenos Aires seeks to protect its low reserves and avoid a devaluation. (Bloomberg)
Argentina's replaces three ministers amid economic crisis, puts more women in power. (Reuters)
Biden says Bolivia & Venezuela are not joining US efforts against drug trafficking. (MercoPress)
Gloves come off in Brazil as Bolsonaro and Lula fight for votes before the October 30th election runoff. The rival campaigns feature claims of Satanism and taunts about cannibalism. (FT)
How did Brazil’s pollsters underestimate support for Bolsonaro? Distrust in state institutions and right-wing voters’ reluctance to share their intentions play a role, experts say. (Al Jazeera)
TIME believes Lula win “because most supporters of now-eliminated candidate Simone Tebet, who won just over 4% of the vote, are more likely to support him than Bolsonaro. That alone should push Lula above 50%, and he will also draw some support from voters for Ciro Gomes, who won about 3%. In fact, Lula’s margin of victory is more likely to widen in the second round than to narrow, [despite] Bolsonaro’s surprisingly strong first-round number suggests about his campaign and its momentum.” (TIME)
Chile's battered markets slide as sovereign bonds trading at levels similar to the Philippines Peso and volatility was 2nd highest in the world in September only better than the embattled Russian Ruble. (Bloomberg)
Chilean lawmakers approve Trans-Pacific Partnership after four years of legislative debate. (Reuters)
Chilean miners including state-owned Codelco will evaluate transportation alternatives after a key railway suspended transport of a major copper product due to growing theft in the country's main mining region, the state firm said on Tuesday. Chile is the world's top copper producer but a recent wave of robberies have undermined the logistics of bringing the valuable red metal to market. (US News/Reuters)
Chile officials say fire damaged some of Easter Island’s iconic moai statues. (PBS)
Colombia’s tourism sector has had a remarkable recovery and expects real growth by the end of the year. But a tax reform being led by President Gustavo Petro could prompt a slowdown, raising fears for hotel projects. (Skift)
Colombia to keep fighting drugs and criminal groups amid drive for total peace. (Reuters)
Colombian President Gustavo Petro submitted a watered-down tax proposal on oil company profits last week amid strong resistance from industry interests. Petro assumed the presidency of Colombia in August with an ambitious energy agenda, but two months later those lofty aspirations are already being tempered by political and economic realities. (Energy Intel)
Colombia reaches deal to buy 7.4 Million acres of farmland from cattle ranchers in plan to push agrarian reform aimed at tackling rural poverty. (Reuters)
🇩🇴 Dominican Republic
Dominican President Luis Abinader announced the country’s biggest purchase of military gear since 1961 – six helicopters, ten aircraft, 21 armored vehicles and four anti-riot trucks – to crack down at border amid Haiti’s instability. Haiti is rapidly spiraling into chaos and the neighboring Dominican Republic has responded with crackdowns on migrants and a military buildup the government claims will “guarantee border security.” (ABC)
Ecuador's deadly gang wars play out inside prisons. Two recent gang-related prison riots in Ecuador left 29 inmates dead, including an alleged top financier of organized crime, and 50 more wounded. (Axios)
🇸🇻 El Salvador and 🇬🇹 Guatemala
Hurricane Julia kills 25 in Central America. (US News)
Mexico’s foreign minister accuses US gun manufacturers of contributing to spread of illegal weapons, high homicide rates in lawsuit. (Al Jazeera)
Mexico's armed forces are becoming increasingly powerful under AMLO. (NPR)
Exiled Nicaraguan economist Javier Álvarez received terrible news this week: his wife, daughter and son-in-law, jailed three weeks ago by the government of President Daniel Ortega, had been formally charged with serious crimes back in Nicaragua. Ortega’s government has stepped up its persecution of political opponents. Human rights organizations have accused the government of making relatives “hostages.” Tens of thousands of Nicaraguans have fled the country in the crackdown that followed massive street protests in April 2018. Dozens of others have been arrested and given lengthy prison sentences. (AP)
EU declares Nicaraguan envoy ‘persona non grata’ as tensions rise Tit-for-tat measure comes amid ongoing international criticism of Nicaraguan government’s human rights record. (Al Jazeera)
Panama on Monday announced the appointment of Janaina Tewaney as its new foreign minister, a surprise move which makes her the third person to hold the post since President Laurentino Cortizo took office. (US News/Reuters)
Peruvian President Pedro Castillo is facing a fresh legal battle after the country's attorney general filed a constitutional complaint against the left-wing leader. Attorney General Patricia Benavides accused Mr Castillo of leading a corruption ring. The president has denied any wrongdoing and says it is an attempt by his political rivals to unseat him. He has already survived two impeachment attempts since taking office last year. (BBC)
🇵🇷 Puerto Rico
Thousands still without power weeks after Hurricane Fiona hit Puerto Rico. (The Guardian)
Uruguay's institutions struggle to fight back against increased criminal threats. (InsightCrime)
‘Get me out’: Search for Venezuela landslide survivors continues. Officials warn death toll—currently at 43—could rise as 60 people remain missing after landslide swept through a central Venezuela town. (Al Jazeera)
Venezuela has lost its seat on the United Nations Council of Human Rights — a development hailed on Tuesday by activists and human rights defenders in Venezuela as cause for celebration. (CNN)
Venezuela Calls For IMF to recognize Maduro Government. Vice President Delcy Rodriguez sent a letter to IMF chief and governors as nation is blocked from accessing more than $4 billion in reserves. (Bloomberg)
Venezuela opposition plans to take on maduro in 2024 election. An opposition victory in Barinas this year prompts new strategy. About 77% of people said they would vote in 2024, poll shows. (Bloomberg)
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