Latamlist – Hugo, an El Salvador-based delivery startup, recently raised an undisclosed Series A investment round. The startup will use a portion of this funding to launch hugo Ventures, a new seed investment fund for Central America.
Hugo is a last-mile delivery logistics platform operating in Central America, working to revolutionize the delivery process for major companies. With their online app, companies can manage delivery logistics, reducing costs, and waiting times for their customers through dashboard applications.
hugo Ventures will contribute up to $10M to seed-stage startups launching in Latin America. The fund will specifically focus on the Central American and Caribbean markets. hugo Ventures will target startups in the finance, insurance, e-commerce, logistics, healthcare, software development, customer service, blockchain tech, tourism, and food and beverage industries. Investments from the fund will range between $50K and $200K.
“At Hugo we want to garner support for [entrepreneurs] because we’re Central American, we believe in the region, and in our people. That’s why we want to make them part of our success,” said Alejandro Argumedo, CEO and co-founder of Hugo.
The fund is specifically aimed to promote innovation in Central America and the Caribbean by encouraging digitalization in the region.
Find out more about hugo Ventures here.