Investment

Chilean software development firm Kauel raises US$15.8M for US expansion

LatAm List – In a story originally reported in El Mercurio, Kauel, a Chilean development company with clients such as Enel and MIT, has received almost US$16M to boost its expansion in Latin America, Europe, and US. The investment was led by Invexor, a Chilean investment firm.

Co-founder Edmundo Casas will move to Silicon Valley to support the company’s expansion and to be closer to their main clients in the US. Since Kauel was founded in 2007, they have registered more than 50 patents for software, electrical devices, and medical devices. One of their most popular inventions includes a solution that uses artificial intelligence and drones to help monitor assets.

With the Alejandra Mustakis, president of Chile’s entrepreneurship organization, ASECH, as one of their main backers, Kauel has managed to raise a massive investment that will allow them to expand out of the Chilean market.

Read more in El Mercurio.

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