IoT-focused fund is launched in Latin America

Region:

Americas

Indicator Capital, Brazilian development bank BNDES, and Qualcomm Ventures have launced the early-stage venture capital fund Indicator 2 IoT FIP, with a first-close of $45 million (BRL240 million), focused on Internet of Things and connectivity in Latin America.

The fund has five other prominent investors: Banco do Brasil, Multilaser, Motorola, Lenovo, and Telefônica Ventures / Vivo, among other institutional and corporate investors. Aimed at start-ups that develop services and products related to IoT and Connectivity, the fund promotes the National IoT Plan, accelerating strategic sectors, such as Agriculture, Health, Industry 4.0, Smart Cities, and Mobility.

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