Frontiers of Innovation: Ten Latin American Deep Tech Pioneers

Latin America is rapidly establishing itself as a key player in the global deep tech ecosystem. With its abundant natural resources, talented workforce, and burgeoning investment landscape, the region is home to innovative companies making waves in artificial intelligence, biotechnology, cleantech, cryptography, robotics, and more.

According to the Deep Tech: The New Wave report by the IDB, there are over 300 deep tech companies throughout Latin America, valued at over $8 billion throughout LAC¹:

Below, we profile 10 of some of the most important deep tech companies in Latin America that are shaping the region’s future and pushing the boundaries of technology.

Bioceres (Argentina): Biotech | Valued at $370 Million

• Bioceres' solutions promote the adoption of environmentally friendly production practices by providing a high-impact platform that features patented seed technologies, microbial agricultural inputs, and next-generation crop nutrition and protection solutions.

• Bioceres has over $460 million in annual revenue², with an 11% growth YoY. Bioceres has a market capitalization of over $400 million.³

Satellogic (Argentina): Satellites | Valued at $125 Million

• Satellogic is creating the first scalable Earth observation platform capable of remapping the entire planet with both high frequency and high resolution.

• Satellogic’s most recent funding round was a $30 million Note Purchase Agreement with Tether Investments, to double down on its U.S. strategy.⁴

Kavak (Mexico): AI & Automotives | Valued at $8.7 Billion

• Although not strictly deep tech, Kavak applies advanced algorithms to improve the used car market. It optimizes pricing, quality assessments, and financing options, making car ownership accessible and efficient​.

• Since its inception, Kavak has raised over $1.5 billion from the likes of SoftBank, Ribbit Capital, Tiger Global, Goldman Sachs, General Catalyst, among other leading global investors.⁵

Aligned Layer (Argentina): Cryptography & Blockchain | Valuation Unknown

• Aligned Layer, an Ethereum verification protocol enhancing the efficiency and affordability of zero-knowledge proofs, enabling engineers to bypass bottlenecks and cost-effectively develop applications on Ethereum using this technology, reducing the cost of verifying zero-knowledge proofs by 90%

• Aligned Layer raised $20 million in Series A funding led by Hack VC.⁶

Solinftec (Brazil): AgTech | Valued at ~$200 Million

• Solinftec specializes in digital agriculture solutions, integrating real-time data collection with artificial intelligence to optimize farming operations. Their technology enhances efficiency in planting, harvesting, and resource management, contributing to sustainable agricultural practices.

• Solinftec serves major agribusiness groups and has expanded its operations to the United States and Canada.⁷

Establishment Labs (Costa Rica): Healthtech | Valued at $1 Billion

• Establishment Labs is a medical technology company specializing in the design, development, manufacturing, and marketing of an innovative line of silicone gel-filled breast implants under the Motiva Implants brand.

• Establishment Labs has raised over $100 million to date.⁸

Auth0 (Argentina): Cryptography | Valued at $6.5 Billion

• Auth0 is a platform that enables companies and web developers to verify user identities before granting access to websites and applications.

• Auth0 raised from Salesforce Ventures, Sapphire Ventures, Bessemer Ventures, among others. Auth0 was acquired by Okta a few years ago.⁹

NotCo (Chile): AI & Biotech | Valued at $1.5 Billion

• NotCo leverages artificial intelligence to create plant-based food alternatives that mimic animal-based products. The company’s proprietary AI algorithm, Giuseppe, helps develop unique recipes using natural ingredients. NotCo has secured funding from investors like Jeff Bezos and raised $235 million in Series D funding.¹⁰

Unico (Brazil): Digital Identity | Valued at $2.6 Billion

• Unico is a Brazilian company specializing in digital identity solutions, offering services such as facial biometric authentication and digital human resources management. Their technology addresses security challenges by providing anti-fraud measures and facilitating digital onboarding processes.

• In April 2022, Unico raised $100 million in a Series D funding round led by Goldman Sachs, with participation from SoftBank and General Atlantic, bringing its valuation to $2.6 billion.¹¹ The company plans to expand its services across Latin America, aiming to enhance secure digital interactions throughout the region.

Decentraland (Argentina): Metaverse & Blockchain | Valued at over $1 Billion

• Decentraland is a blockchain-based virtual reality platform where users can create, explore, and trade in a virtual world owned by its users. Utilizing Ethereum's blockchain, Decentraland allows for decentralized governance and economic systems, making it a pioneer in the metaverse and Web3 space. The platform has garnered significant attention and investment as a leading example of innovation in immersive technologies.

• Decentraland raised over $25M in an Initial Coin Offering, followed by a $25 Million round led by Animoca Brands.¹²

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These companies are just a snapshot of the innovation that is emerging from Latin America’s deep tech ecosystem. While sectors like fintech and e-commerce have dominated investment, deep tech innovations are diversifying the landscape. Continued investment in R&D and supportive public policies will be critical to sustaining this growth trajectory​.

They exemplify how the region is leveraging its scientific and entrepreneurial talent to generate impact on a global scale. Their success stories serve as a beacon for aspiring innovators and investors. In upcoming iterations of the LADP blog, we will be conducting industry-specific profiles of companies that have

1. https://publications.iadb.org/es/deep-tech-la-nueva-ola

2. https://investors.biocerescrops.com/news/news-details/2024/Bioceres-Crop-Solutions-Reports-Fiscal-Fourth-Quarter-and-Full-Year-2024-Financial-and-Operational-Results/default.aspx

3. https://pitchbook.com/profiles/company/82513-63#overview

4. https://satellogic.com/news/press-releases/satellogic-announces-30-million-strategic-investment-from-tether-investments-limited/

5. https://techcrunch.com/2021/09/21/mexicos-kavak-raises-700m-for-its-used-car-marketplace-doubling-its-valuation-to-8-7b/

6. https://www.coindesk.com/business/2024/04/25/eigenlayer-powered-aligned-layer-raises-20m-to-make-zk-proofs-faster-cheaper-on-ethereum/

7. https://www.solinftec.com/en-us/lightsmith-leads-60-million-investment-round-in-solinftec-a-leading-data-driven-precision-agriculture-company/

8. https://investors.establishmentlabs.com/press-releases/press-releases-details/2024/Establishment-Labs-Announces-50-Million-Registered-Direct-Offering/default.aspx

9. https://auth0.com/blog/auth0-announces-120m-seriesf-funding/

10. https://www.futurefoodfinance.com/article/0072_kk

11. https://tracxn.com/d/companies/unico/__kPWXjtEsGai0rP2q2wAVkAzE3tAAa-CBNlCUgdwmjJQ/funding-and-investors

12. https://tracxn.com/d/companies/decentraland/__nyP1vTn1umv6TM2olv1upi-x6G0D3IXJhOd8K-MVevA/funding-and-investors