Mexican startup Kigüi has captured Amazon’s interest, leading to a USD$250,000 investment in the AWS Impact Accelerator for Latino Founders program. Kigüi’s initiative focuses on reducing food waste in supermarkets through a free app that enables consumers to save up to 60% on products approaching their expiration date.
Food waste is a significant global challenge, with 931 million tons of food wasted yearly, according to the 2021 Food Waste Index by the United Nations Environment Programme (UNEP). Amazon’s investment in Kigüi presents an opportunity to address this serious issue. It has the potential to significantly impact food waste reduction in Mexico and Argentina, where the company currently operates.
Kigüi also counts on other investors, such as Newtopia VC, Antom.la, Lote Capital, and Inversiones El Trueno.
Food waste index, 2021. (Source:Statista)
Mauricio Kremer, CEO of Kigüi, stated:
“We have been growing at a monthly rate of 20% in Mexico and Argentina, and we aim to maintain these numbers. With this investment from Amazon, we can further enhance our growth, even entering new markets. The objective is to achieve over USD$1 million in annual revenue and have more than 100,000 active users in the next 12 months.”
For the investors and VCs in the region, this investment highlights the increasing relevance of triple-impact startups that seek sustainable solutions to global issues. It also shows how major companies like Amazon are interested in supporting the growth of innovative startups in Latin America.
Amazon’s investment in Kigüi represents a promising opportunity for startups in the region, as partnering with a tech giant like Amazon provides funding for growth and expansion and grants access to resources, mentoring, and training that can propel the company to success.
