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Wayra & TheVentureCity ink Deal invest in Latin American Startups Focused on Deep Tech

Infrastructure News - Published on Fri, 27 Sep 2019

Image Source: webwire
Wayra, the open innovation hub network by Telefónica, and TheVentureCity, the global accelerator of technological ecosystems with headquarters in Madrid and Miami, have signed a global deal to jointly invest in Latin-American startups focused on the Internet of Things, Video, Cybersecurity, Artificial Intelligence or Machine Learning. The announcement took place during the LAVCA Summit and Investor Roundtable in New York. The deal will attract talent from Mexico, Argentina, Colombia, Venezuela, Peru and Chile, countries where Wayra is present through its innovation hubs. The joint investment will reach 250k. In this way, Wayra and TheVentureCity, confirm their alliance in a strategic region for the entrepreneur ecosystem. Apart from working on the deal-flow, the focus will be set on boosting the business development of the investment portfolio, as well as events organization.

Mr Ricardo Sangion, VP, Growth Accelerator Americas said that “Wayra’s experience in the region, its network and technical knowledge become the perfect partner to boost the startups in Latin-America that want to have a greater impact. The joint investment and the union of strength will take these startups to the next level.”

Mr Agustín Moro, Global Head of Partnerships at Telefónica Open Innovation said that “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 and the valuable support they provide in the development and scaling of businesses make TheVentureCity a key partner.”

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Posted By : TelecomGuru on Fri, 27 Sep 2019
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