Wayra Hispam, the open innovation arm and corporate fund of Telefónica Movistar, has given a new boost to the digital startup ecosystem in Latin America by adding three new companies to its portfolio. These startups, specializing in Artificial Intelligence (AI), Financial Technology (FinTech), and Digital Regulation (RegTech), are joining a constantly growing and transforming market in 2023.
Artificial Intelligence, FinTech, and RegTech have stood out for their ability to transform various industries and create innovative and efficient business opportunities. Wayra Hispam has focused on harnessing this potential to the fullest by adding startups offering solutions in these verticals to its portfolio, which have a significant impact on organizations’ operations. The three new additions are Glim from Colombia, Erudit from Mexico, and Chaindots from Argentina.
Agustín Rotondo, General Manager of Wayra Hispam, expressed his enthusiasm for these additions to the portfolio:
“With these three new companies, we strengthen our presence in the region. More importantly, we bolster Wayra Hispam’s portfolio. Glim, Chaindots, and Erudit bring innovative solutions with the potential to transform and make Telefónica Movistar’s operations, its clients, and partners more efficient. We believe these startups will become leading companies in their industries.”
Chaindots: Transforming Enterprise Risk Management in LatAm
Chaindots, present in eight Latin American countries (Argentina, Brazil, Mexico, Colombia, Chile, Uruguay, and Panama), has positioned itself as a collaborative risk ecosystem that streamlines and optimizes business operations. Founded in 2021, the startup aims to contribute to a safer and more transparent business environment.
The Chaindots platform allows large companies to connect and efficiently manage the risks associated with their clients and suppliers, providing agility and security in their operations. At the same time, it enables SMEs and startups to improve their risk management and access new business opportunities. Chaindots promises to eliminate the bureaucracy, slowness, and high costs of past risk processes, thanks to agile and transparent interconnection among ecosystem members.
Chaindots already has an impressive list of clients, including Mercadolibre, Bind, Pomelo, Bice, Glim, Lulubit, Lemon, and various government entities. Recently, the startup also raised funds in an investment round with the support of Wayra, Sancor Seguros Ventures, White Lions, and other strategic angel investors.
Delfina Chain, founder and CEO of Chaindots, emphasized the significance of Wayra’s investment:
“Having Wayra as a strategic investor means that Chaindots can exponentially expand the number of companies that can participate in the first collaborative risk ecosystem through the Telefónica network and grow in a key industry like global telecommunications.”
Erudit: Managing People with Artificial Intelligence
Erudit aims to revolutionize human resources management by combining data analysis with an understanding of human psychology. This startup offers an artificial intelligence and software-as-a-service (AI-SaaS) platform that provides business leaders with real-time anonymous workforce information. This allows measuring the true pulse of the organization through data and facilitates the creation of strategic initiatives designed to address specific needs, thereby improving the work environment and business results.
Erudit’s AI-based technology enhances the predictive analysis of the platform, delving into possible future scenarios based on current data trends. It also offers practical insights that enable proactive and data-driven strategic planning.
Erudit plans to further enrich its product in 2024 by implementing Semantic Organizational Network Analysis, a methodology that will identify informal leaders and communication patterns within organizations.
Alejandro M. Ajenjo, CEO of Erudit, commented on Wayra’s investment:
“Wayra’s investment validates our technology and business model. It also reinforces our ability to make a significant impact within the Telefónica ecosystem and its network of clients. This collaboration represents a crucial milestone for us and marks the beginning of an exciting and transformative phase, both for Erudit and for our future clients and collaborators.”
Glim: Financial Well-being for Workers
Glim is an employee financial benefits platform that offers simple financial diagnostic tools, savings and investment options, along with financial education courses. The startup, operating in Colombia, has plans to expand to Peru and Argentina in 2024. In 2023, Glim secured significant clients such as Blankfactor, Bmind, Cidenet, and Nobox and won the national final in Colombia of the HR Tech Hub, a recognition of innovation in Human Resources and Technology.
Alex Robbio, CEO of Glim, highlighted the importance of having Wayra’s support:
“We are delighted to have Wayra as an investor since it is a global fund with a strong local presence. As a Fintech designed to operate throughout Latin America, this represents great potential for Glim, as it will allow us to attract talent, investors, and clients from the region who are also willing to trust in us.”
Wayra Hispam’s investment in these three startups not only strengthens Telefónica Movistar’s commitment to open innovation but also promotes the growth and development of technology companies in Latin America.
