Fast Track News This Monday: Latin America’s Thriving Innovation Scene

Dive into this Monday’s top stories, spotlighting Latin America’s dynamic innovation scene from surging retail job offers in Brazil to AI-driven ventures in aquaculture.

In an action-packed start to the week, Brazilian startup Frota 162 secures R$3 million in funding from ACE Ventures to bolster its automotive fleet management capabilities, targeting a tenfold growth by year-end. Meanwhile, Brazil’s retail sector has amped hiring, witnessing a 72% surge in job offers in Q1 2023. Notably, Raia Drogasil led the hiring spree with 2,237 job listings. Surprisingly, the retail industry has shown a growing affinity for biological, physical, and social sciences specialists.

On the global stage, Distrito and SoftBank‘s research places Latin America as the seventh-largest venture capital market worldwide, outpacing nations like Canada and Japan, with investments soaring to US$36.9 billion over the past five years.

In the realm of AI, Peruvian startup Nereuz harnesses this transformative tech to reshape aquaculture, focusing on productivity, health, and environmental balance in fish farming.

Nuu, another Brazilian foodtech gem, clinched a significant USD $4 million funding round, championing carbon-neutral, cassava-based food items.

As the neobanking wave sweeps across, Colombian entity Nequi introduces “Segurísimo,” an innovative, customizable insurance policy, paving the way for personalized banking solutions.

In upcoming events, Cartagena, Colombia, gears up to host the Digital Innovation Day 2023 on September 5th, highlighting the region’s digital strides. Spearheaded by tech multinational TIVIT, this edition aims to dissect digital transformation challenges head-on.

Lastly, Nvidia, a titan in the AI realm, is set on expansive growth in Brazil and the broader Latin American market.

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