Luzia raised EUR €9.5 million to expand into the Artificial Intelligence market in LatAm
Luzia, the emerging startup from Spain and pioneer in deploying Artificial Intelligence (AI) based assistants, has secured significant funding of EUR €9.5 million. With this capital, the company aims to strengthen its position in the dynamic AI-based technology market in Latin America and other regions globally.
The firm, known for its AI assistant, widely used on platforms like WhatsApp and Telegram, has successfully concluded its third funding round in less than six months, marking its most significant capital influx. Several investors have shown interest in Luzia, notably Gasol16 Ventures, led by the renowned Pau Gasol and Khosla Ventures. This US-based entity has backed giants like Stripe and innovative projects like Worldcoin, an initiative from Sam Altman known for ChatGPT.
Luzia’s goal with these funds is to explore new frontiers and bolster its team of specialists based in Spain. With a user base of 17 million and a staggering figure of 880 million questions managed, Luzia’s assistant transcribes audio into text and generates images.
Their efforts are centered in Spain and critical Latin American territories such as Argentina, Mexico, Brazil, and Colombia. The platform guarantees anonymity and data privacy for its users, providing its service through simple interactions on WhatsApp and Telegram.
Luzia’s Landscape in AI
Luzia’s success symbolizes the current trends in the Spanish startup domain. The country’s entrepreneurial ecosystem has witnessed a significant presence of serial entrepreneurs, and Luzia’s leadership exemplifies this trend.
Álvaro Martínez, its current CEO, is known for founding Leuko Lab. Joining him in this journey with Luzia are Javier Andrés, the brain behind Ticketea, and Carlos Pérez, an entrepreneur who has led companies like Eventid and Devaway to success, later acquired by Ticketea and Jobandtalent, respectively.
Lastly, it’s vital to underscore that Luzia is a testament to AI’s rapid growth and enthusiasm in Spain’s startup sector. According to recent sources, one out of every four new companies in the country has already integrated AI into their operations and services.
According to the projections from analytics firm IDC, as seen here, organizations are expected to invest more than USD $150 billion in AI-based systems in 2023, marking a 26.9% increase compared to 2022. By 2026, the total investment in AI will surpass USD $300 billion in just three years.
Furthermore, according to a survey conducted by Ipsos, countries like Mexico, Peru, and Colombia have a high acceptance of using Artificial Intelligence among their citizens, undoubtedly representing a market of immense interest and value for companies like Luzia.