LatAm List – Wayra, a global tech innovation hub run by Telefónica, and TheVentureCity, a growth accelerator program, will co-invest in Latin America’s deep tech startups. Deep tech refers to startups that use Artificial Intelligence, Machine Learning, Internet of Things, Video, and Cybersecurity.
It was during the LAVCA Summit & Investor Roundtable that they announced their decision to invest up to $250K in each startup.
These investments will attract talent from Mexico, Argentina, Colombia, Venezuela, Peru, and Chile.
“Wayra’s experience in the region, its network and technical knowledge become the perfect partner to boost startups in Latin America that want to have a greater impact. The joint investment and the united forces will take these startups to the next level,” said Ricardo Sangion, VP of TheVentureCity’s Growth Accelerator Americas.
“From its foundation, TheVentureCity has had a strategic position inside the Venture Capital industry in relevant geographies for both Wayra and Telefónica such as Spain and Latin America. The deep commitment with the companies they invest in and the valuable support they provide in the development and scaling of businesses make TheVentureCity a key partner,” said Agustín Moro, Global Head of Partnerships at Telefónica Open Innovation.
Read more on Telefónica.