Top seed rounds in Brazil 🤑

⏩ This week’s rounds and M&As

Gringo, a super app for drivers, was acquired by Sem Parar. The transaction value wasn’t disclosed.

Lumo Robotics, a startup developing cleaning robots for solar panels, raised USD$165K in its first funding round, led by angel investors and Gera Climate Ventures.

PayMon, an Ecuadorian startup providing a financial ecosystem for students and schools, raised a USD$600K pre-seed round led by Magma Partners.

⏩ Top seed rounds in Brazil in 2024

In 2024, 115 Brazilian startups secured seed funding, totaling over USD$182M, according to Sling Hub data. 

Seed rounds aim to validate a startup's business model and kickstart market growth. This capital supports acquiring initial customers, improving products and building a solid foundation for future development. These rounds often involve angel investors and early-stage venture capital funds.

Among the largest seed rounds of the year, only one startup is based outside São Paulo: Morfo, which also stands out as the only B2B - B2G company on the list.

Additionally, just three of the startups are focused on artificial intelligence: CrewAI, Arvo and Morfo. 🤖✨

👉 If your startup raises funding in 2025, make sure to update your business profile on our platform. Gain visibility in our reports and unlock exclusive benefits!

⏩ Final days to apply for Antler Brazil’s Residency Program

The Antler residency is a perfect opportunity to embark on your founder journey and build a highly scalable tech business.

For 10 weeks, founders from across Brazil convene in an innovation-driven environment at Cubo Itaú. Participants can meet over 60 potential co-founders, receive support to validate startup ideas and potentially secure pre-seed funding to bring them to life.

The next residency kicks off on February 4, 2025. Only a few spots remain, so don’t miss this chance.

🎯 If 2025 is your year to launch a startup, apply now: https://to.antler.co/3O3IYzH. Good luck! 🤞

⏩ DeepTech spotlight: How is this sector driving open innovation with corporations in Latin America?

In 2024, Latin American DeepTechs — startups focused on advanced technological innovation — secured $483.1M in equity investments across 44 rounds by November. That’s a 187% increase compared to 2023.

But there’s more: between 2020 and November 2024, only 13% of startups receiving equity funding had corporate investors. For DeepTechs, this figure rose to 21%, highlighting their role in bridging disruptive innovation with large enterprises.

Last year, the sector’s largest round with corporate participation was Splight’s $12M funding.

“Splight's fully digital solution pragmatically increases grid transmission capacity without additional infrastructure investment, reducing energy curtailment — a critical issue for renewable generation players like EDP Group. We’re excited to collaborate with Splight and contribute to a more flexible and sustainable electrical system,” said Frederico Bilelo Gonçalves, Managing Partner at EDP Brasil, the Corporate Venture Capital arm of EDP Group, which participated in the round.

👉 Check out our full content on the impact of DeepTechs in Latin America!

⏩ Until the next Copilot News 👋

Let’s wrap up with a gift for you 🎁

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The initiative is part of the Google Cloud For Startups program, which not only provides credits but also offers tools for rapid and smart growth through various resources.

By joining Google Cloud For Startups, your business gains access to startup specialists, technical training, commercial support and Google offerings. Plus, enjoy coverage for Google Cloud and Firebase costs — up to $200,000 ($350,000 for AI startups) for two years.

👉 Apply now for your credits. It’s free.  https://startupcopilot.io/benefits.

🚨 Hurry, benefits are only available until Sunday!