Colombia is rising as a powerhouse in Industry 4.0 thanks to technological advancements, a supportive entrepreneurial ecosystem, and a growing talent pool. Startups in various industries like Fintech, Cybersecurity, Agritech, and Healthtech are thriving in the country.
One key driver behind Colombia’s startup growth is the increasing access to technology and digital infrastructure. Internet connectivity and smartphone usage have expanded rapidly, with 69.1% of Colombians having Internet access. This widespread technology adoption has allowed startups to reach a more extensive customer base and offer services to a broader audience.
The Colombian government has taken initiatives and implemented policies to foster entrepreneurship and innovation. Organizations like iNNpulsa Colombia and Apps.Co provides funding, mentorship, and resources to early-stage startups, helping them overcome challenges and accelerate their growth.
Let’s take a closer look at some of the notable startups in Colombia that are driving innovation and economic growth:
Fintech
RappiPay
RappiPay, a subsidiary of Rappi, offers a comprehensive digital wallet that enables users to make payments, transfer money, and apply for loans seamlessly through their mobile app. RappiPay has over 800K users in Colombia alone and has issued over 220K credit cards.
The company’s valuation is currently unknown, but Rappi, its parent company, received $1B in funding in 2022, valuing the company at $5.25B.
Nequi
Nequi, a subsidiary of Bancolombia, is a mobile banking platform that provides innovative financial services to unbanked and underbanked individuals. With over 5 million users in Colombia, Nequi facilitates transactions, savings, and essential financial services through smartphones.
Nequi’s current valuation is $1B after receiving $130M in financing from Bancolombia, Rappi, and SoftBank Vision Fund in 2021.
Cybersecurity
Kriptos
Kriptos specializes in data protection and encryption solutions, making data security simple and affordable for businesses. It has raised over $1M in funding and serves notable clients such as Bancolombia, Alkosto, and Grupo Argos.
Agritech
Frubana
Frubana has revolutionized the agricultural and food industry by optimizing the supply chain. Their B2B marketplace connects farmers directly with restaurants, hotels, and retailers, reducing food waste and ensuring fresh produce reaches customers.
Frubana has secured over $190M in investment and expanded its operations across multiple cities in Colombia through partnerships with thousands of local farmers and businesses across Colombia, Mexico, and Brazil.
Demetria
Demetria is transforming the coffee industry through advanced AI and machine learning technologies. Demetria enhances coffee quality and traceability by offering data-driven solutions to coffee growers, traders, and roasters.
The startup is currently valued at $3M thanks to the support of notable investors like, Techstars, and Soma Capital.
By leveraging technology, Demetria aims to create transparency and trust in the coffee supply chain, empowering growers and industry players to make informed decisions and deliver exceptional coffee experiences to consumers worldwide.
Healthtech
1DOC3
1DOC3 offers various medical services online, including virtual consultations, health information, and personalized recommendations to make healthcare services more accessible and empower individuals to take control of their health.
The company has attracted notable investments and high-profile investors to pass the $5M mark with firms such as Y Combinator, Wayra, and Point72 Ventures.
Startups in Colombia play a vital role in driving the adoption and advancement of Industry 4.0 technologies in the country. With their innovative ideas, entrepreneurial spirit, and agility, startups are at the forefront of implementing cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, and automation.
By leveraging these technologies, startups are transforming traditional industries and enabling the transition towards more innovative, more efficient, and more sustainable business models.
Moreover, startups often serve as catalysts for collaboration, bringing together private investors and the government to foster an ecosystem that supports the development and implementation of Industry 4.0 solutions.
Through their disruptive solutions and forward-thinking mindset, startups propel Colombia’s digital transformation, drive economic growth, and position the country as a competitive player in the global digital landscape.
