SCAPE_Mexican_Wellness_OnDemand
SCAPE, a Mexican on-demand spa and wellness company, secured a $1.3 million investment in an oversubscribed funding round. With over 85,000 services provided, SCAPE currently operates in 25 cities in Mexico and four in Colombia. The company aims to reach $6 million in revenue by the end of this year. The injected capital will be used to strengthen its presence in these countries and expand into Chile and the Dominican Republic.
This investment round includes participation from 500Startups, Amplifica Capital, Angel Ventures, Angelhub, Arkangeles, Adulting Capital, Boost/Enlaces, Daedalus Ventures, Everywhere VC, Globivest, Seed9, Stonks & Venture.do.
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Additionally, angel investors such as Caterine Castillo, Daniel Velez, Frida Garby & Lorenzo Torrens, Gabriela Rocha, Jaime Prado, Lala Elizondo, Leticia Sahagun, Mariano González, Mariate Arnal, Mike Medina, Nelly Salas, Raquel Sanchez, Tom Peterson, and Victor Noguera also took part in the funding round.
Mexico is one of the countries with the highest growth in the wellness industry. For SCAPE, it represents a target market size of $46 billion. It is the second-largest market in Latin America, a region estimated to be valued at $235 billion (Global Wellness Institute). Out of this market, $70 billion belongs to the spa industry, where Mexico ranks 13th worldwide and is the number one in Latin America (MexiCaribe) in that sector.
What implications does this news have for venture capital?
- Market potential: The growth of Mexico’s wellness industry, as highlighted by SCAPE’s target market size and its position in the Latin American market, presents venture capital firms with attractive investment opportunities in the sector.
- Sector diversification: The wellness industry offers venture capital firms a chance to diversify their investment portfolios beyond traditional sectors. Investing in wellness startups, such as SCAPE, allows them to tap into the growing demand for wellness services and innovative wellness technologies.
- Regional expansion: The presence of a strong wellness market in Mexico, coupled with SCAPE’s plans to expand to other Latin American countries, opens up possibilities for venture capital firms to support and invest in cross-border expansion strategies. This can help them access new markets and potentially higher returns on their investments.
What implications does this news have for venture capital?
- Funding opportunities: The successful fundraising of SCAPE and the growth of the wellness industry in Latin America can attract more attention and funding from venture capital firms for other startups in the region. This presents increased opportunities for Latin American startups to secure investment and fuel their growth.
- Market validation: The emergence of SCAPE as a notable player in the wellness industry validates the market potential and demand for innovative solutions in Latin America. This can encourage and inspire other startups in the region to develop and offer their own unique products or services in the wellness sector.
- Expansion prospects: SCAPE’s plans for regional expansion highlight the potential for Latin American startups to scale their operations beyond their local markets. This news can inspire other startups to explore cross-border expansion strategies and target larger markets in Latin America, leveraging the growing interest and opportunities in the wellness industry.
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