This week, Latin America’s startup funding scene was relatively subdued, but several significant investments across solar energy, insurance, and agriculture technology underscored investors’ enduring confidence in climate tech, fintech, and AI-driven innovations. The most substantial funding round went to Solfácil, a Brazilian solar energy financing platform, which secured $175 million to support solar projects nationwide. Since 2021, Solfácil has amassed over $877 million through capital markets, with plans to issue green bonds to expedite Brazil’s transition to renewable energy.
In the insurtech sector, Brazilian life insurance company Azos garnered $29.8 million in a Series B round. Led by Lightrock, with contributions from Kaszek Ventures, Prosus, Munich Re Ventures, and Maya Capital, Azos aims to leverage the funds to expand nationally, develop new products, and enhance its proprietary platform. The company’s rapid growth is driven by its affordable, technology-driven life insurance offerings.
Advolve.ai, a marketing automation startup, also made headlines by raising $5 million in a seed round. Led by Canary, with participation from Valor Capital and Prosus Ventures, Advolve.ai employs AI and machine learning to automate digital marketing processes. The company plans to grow its team, enhance its technology, and target international markets, including the U.S. and Europe, while serving high-revenue clients like iFood and Cogna Educação.
In the agtech sector, Argentine startup Calice secured $1.5 million in a seed round. Led by Draper Cygnus, with contributions from Xperiment Ventures, Air Capital, Innventure, and GrainCorp Ventures, Calice specializes in AI-powered virtual field trials. This technology reduces the time and cost of agricultural product development by replacing physical crop testing with predictive simulations. Calice aims to expand its operations in Argentina, Brazil, and the U.S., targeting $800,000 in contracts this year through a subscription model.
While the total funding this week was modest, the investments highlight the continued momentum in Latin America’s innovation landscape, particularly in sectors poised to drive significant change. The focus on renewable energy, fintech-driven insurance, and AI-powered agriculture reflects a broader trend of investors backing transformative technologies that address pressing global challenges.
