- The total combined amount that these tech startups raised reaches $849 million;
- Most rounds were raised in the past 24 months.
A new BayBrazil survey mapped startups and venture capital funds led by Brazilians in Silicon Valley and found that, for the first time, there are 11 Brazilian-led startups (the highest number registered) in San Francisco’s Bay Area that raised $2 million or more in the past couple of years.
The number of Brazilian investors in Silicon Valley is also the first of its kind: seven. According to Margarise Correa, CEO, and founder of BayBrazil, this number, although low, it’s a meaningful one because the Brazilian community in Bay Area is far small than others, such as the Indian and the Chinese ones. “I don’t know communities here in the region that have a similar number of VCs,” she said. In the list of VCs by BayBrazil, there are Palo Alto-based Tau Ventures, OneVC, Positive Ventures, and Indicator Capital featured.
Startups soaring on BayBrazil’s report
According to the BayBrazil updated report, the total combined amount that these tech startups raised is $849 million and most rounds were raised in the past 24 months.
Leading the group in terms of both fundraising and spotlight on news outlets is San Francisco-based BREX. The fintech announced its last $150 million Series C round in May and accumulated $465 million in venture capital funding. Now, it is valued at $2.6 billion.
Palo Alto-based Olivia AI, a personal financial assistant powered by artificial intelligence, also recently raised a significant round: $9.1 million, in January, led by BVx. According to the survey, Olivia is partnering with large banks to help their clients to manage money. Although major current partners are in Brazil, the fintech’s AI/Machine Learning team is in Silicon Valley.
There is also San Francisco-based startup Meemo, a social finance app that offers personalized rewards. It has raised $10 million in Seed funding in July, after a year-long stealth period.
According to the report, a presence in Silicon Valley is a natural path for most Brazilian growth startups to scale. BayBrazil team noticed that two companies launched operations in the region after scaling their business in Brazil and raising amounts: Pipefy and Incognia.
Founded in Brazil, Pipefy, a work management platform, established in San Francisco in 2018 to build a team and expand the company to address a global market for business process management that is expected to surpass $23 billion by 2024. Pipefy has raised a total of $65 million so far.
Pipefy is also part of the list of 8-Brazilian startups to watch in Silicon Valley, alongside with Incognia, and SINAI, the first leading decarbonization software in the world helping corporations to price carbon emissions, manage carbon taxes, and reduce emissions in a cost-effective way. It has just raised a fresh $4 million round.
Another one who got featured is Arena, a cloud-based marketing platform for live experiences raised a $2.3 million Seed round led by Romero Rodrigues, of Redpoint eventures and other Silicon Valley investors.