Loads, Chilean agtech, secures $2 million seed investment for expansion

Loads, a Chilean agtech, receives $2 million in investment to connect importers with global producers and expand operations.
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Photo: Loads

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Loads, an emerging agtech from Chile specializing in connecting importers with global producers, has recently secured significant funding in its seed capital round, amounting to USD $2 million. Key financiers include Nazca, a fund behind the Mexican unicorn Kavak, Canary, Alaya Capital, and angel investors.

Founded by Venezuelan Larry Gil, Loads aims to be a two-way channel, facilitating local producers in exporting their products and aiding importers in establishing themselves in the Chilean market.

According to Gil, the investment from entities like Nazca, Canary, and Alaya Capital aligns closely with Loads’ strategic vision and brings invaluable worth regarding access to highly competitive Latin American food export markets and diverse industry experience. Additionally, these funds have a history of supporting prominent companies with business models and visions similar to Loads in various sectors.

Jaime Zunzunegui, Managing Partner at Nazca, emphasizes the importance of agriculture as a societal backbone and the need to optimize its marketing for a sustainable future. Zunzunegui sees Loads as a blend of technology and vision, reshaping Latin America’s interaction with the agricultural sector.

With this new funding, Loads plans to strengthen its supplier network in Brazil, Mexico, and Argentina and expand its customer base in Asia and the United States. The startup’s goal is to reach monthly commercialization of 1 million kilograms of food through its platform by the first quarter of 2024.

Before founding Loads, Gil contributed to the expansion of the Chilean unicorn Betterfly. He was educated in Industrial Engineering in Boston, along with a diploma in Corporate Finance from Harvard University.

Loads’ platform provides producers with tools such as credits and financing to cover their production, manage export logistics, and ensure safe and transparent transactions for clients.

Luis Bermejo from Alaya Capital believes that Loads is uniquely positioned to lead and make a significant difference in this vital industry for the region. Additionally, the company aims to reduce friction and democratize global access for sellers and buyers through technology.

Loads currently exports products to various countries, including Colombia, Ecuador, Panama, Costa Rica, India, Dubai, and Taiwan, with suppliers in Chile, Peru, Argentina, Poland, Portugal, Spain, and China. The company has created a diverse range of over 70 SKUs through its twelve products and has recently exported over 1.5 million kg of products. This financial growth and market expansion indicate Loads’ potential to be a significant player in agrotechnology and global trade.

According to a study by the IDB titled Agtech Innovation Map in Latin America and the Caribbean, Argentina accounts for 23% of the agtech-focused startups in the region, while Brazil accounts for 50%, thus establishing themselves as the two agricultural giants in an area where 14.1% of the workforce is employed in agriculture.

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