Tracxn Says Latin American Tech Startups See 51% Surge in Funding For First Half 2024
Summary
Tracxn, a leading global SaaS-based market intelligence platform, has released its Geo Semi-Annual Report: Latam Tech H1 2024. The Latam Tech startup ecosystem secured total funding of $1.5 billion in H1 2024, a jump from the $977 million raised in H1 2023. Companies like Origo Energia, HIF Global have managed to raise funds above $100 million in this period. Origo Energia raised $400 million in a Series B round led by I Squared Capital, while HIF Global raised a total of $164 million in a Series D round.FinTech, Enterprise Applications and High Tech were the top-performing sectors in H1 2024. Exito was acquired by Calleja Group and Groupe Casino for $156 million, becoming the highest-valued acquisition in H1 2024, followed by the purchase of Quiver by Dimensa for a price of $23 million.Further, Q1 Tech was the only new unicorn that emerged in H1 2024, a minor improvement from H1 2023, which did not witness any new unicorns.Campinas, Brasil took the lead in terms of city-wise funding, accounting for 27% of the total investments secured by tech startups in the region.