Technology

World Economic Forum selects 4 Latin American startups as tech pioneers

Brazilians CargoX and Descomplica, the Argentinian Ripio and NotCo, from Chile, are among the 100 companies that are pioneering new technologies and innovations, according to WEF

Federico Vega, CEO at CargoX, one of the Latin Americans selected in WEF's list. Photo: CargoX/Courtesy.
  • In its latest edition, WEF selected 100 new companies to integrate its Technology Pioneers Community; 4 of them are Latin Americans: CargoX, Descomplica, NotCo, and Ripio;
  • Carbon capture, alternative meat, circular economies, food security, and financial access are some of the industries selected;
  • Firms offering COVID-19 responses through testing and diagnostics were also chosen.

The World Economic Forum released on Tuesday the 20th edition of its Technology Pioneers, a community that, each year, selects one-hundred early to growth-stage companies from all over the globe that are pioneering new technologies and innovations. In this latest edition, four companies in the group are Latin Americans.

“It is a unique opportunity to learn from other companies that have been doing incredible jobs and have been able to help people in their home countries,” Marco Fisbhen, CEO at the Brazilian edtech Descomplica stated. “I am sure that we will end this journey two years from now, richer in experience and even more committed to putting education in Brazil on a more democratic and better-qualified path.” The startup, which raised $ 32 million in funding since 2012, offers prep content for college admission exams and in 2020 rolled out its online graduation.

Along with Descomplica, another three companies from the region join the coveted list: the Brazilian logistics startup CargoX, which received an $ 80 million round in April led by LGT Lightstone Latin America, the foodtech NotCo and the Argentinian fintech Ripio. The Chilean foodtech, one of the most promising artificial intelligence startups according to CB Insights, received $30 million at the beginning of 2019.

“Being among the 100 pioneer companies in the technology industry in the world makes us very proud, honored and happy, especially because we associate technology with food and the future of our planet”, said Matias Muchnik, NotCo founder and CEO. “We started NotCo with this mission of generating technology that allows us to really promote change to protect our world, offering a better and more sustainable food system for new generations.”

According to him, NotCo worked hard for the past five years to have a pioneering technology-based company from Latin America to the world and this recognition is a symbol of doing the right things and recruiting the right talent from Latin America. “With this technology we will reach the whole world ”, he stated.

And Argentina’s player, the bitcoin and digital payments startup Ripio, has raised $44.4 million in investment according to Crunchbase.

READ ALSO: Brazilian Tembici raises $47 million to expand its micromobility business in Latin America

“This year’s class of Technology Pioneers are improving society and advancing their industries around the world,” said Susan Nesbitt, Head of the Global Innovators Community at the World Economic Forum. “These are the companies that think differently and stand out as potential game-changers. We’re looking forward to the role they’ll play in shaping the future of their industries.”

Carbon capture, alternative meat, circular economies, food security, and financial access, are some of the industries that companies selected in this edition operate, as well as firms offering COVID-19 responses through testing, diagnostics and more.

Following their selections, this year’s tech pioneers will be invited to engage at World Economic Forum events and high-level discussions during two years in the community. These players will also be able to work with policy-makers and private sector leaders to come up with new solutions for their sectors and regions.

“In Brazil, CargoX is digitizing trucking to optimize logistics that can improve the livelihood of truckers in the country,” says WEF official press release. Participants in previous editions include names like Airbnb, Google, Spotify, and Twitter.