In other news, Latin American startup investor and growth accelerator Movile itself received a boost this week with a BRL $1 billion — about $200 million USD — investment from Prosus. Movile will use the fresh capital to invest in new startups and to help grow its existing portfolio companies, including iFood, Zoop and Mensajeros Urbanos.
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Five to six years ago, venture investors were pouring tons of cash into the promise of updating industrial facilities. That ended up being pretty much a bust. But now, with COVID-19 causing massive disruptions in the industrial sector and a shortage of skilled labor, venture investors are once again spending billions on startups that promise to make the industry more efficient. In fact, 2021 is on track to be the biggest year for VC funding in the industrial automation space since 2016, when it received more than $2 billion.
Payments platform Square plans to buy Afterpay, an Australian buy now, pay later service, in an all-stock deal valued at around $29 billion. The company, backed by investors including Tencent and Coatue, has raised just under $449 million in funding, per Crunchbase data.
The crowded market for SPACs has cooled as more of these blank-check acquirers struggle to find the perfect mate. Those changing market dynamics — while there were just under 300 SPACs formed in Q1, the second quarter saw fewer than 50 announced — have prompted more favorable investor terms from some SPACs and shifted where the vehicles are looking for targets, sources say.
Source : Crunchbase
