500 Global Reveals Winners of the “Somos Lucha” ProgramBy Sofía Hanna | Tue, 08/09/2022 - 12:08
500 Global, a venture capital firm with more than US$2.8 billion in assets, announced the 10 companies that will become Batch #16 of the “Somos Lucha” program. These companies will enter a 16-week program of intense work between founders and their teams, followed by an investment offer to support them in business development, connecting them with potential investors and even helping them with their capital raising process.
According to the firm’s release, five companies from Mexico, three from Colombia, one from Uruguay and one from Argentina were selected from 2,227 applications received in the first stage of the contest. Multiple industries were considered, including fashion, SME solutions, fintech, edtech, legaltech, proptech and wellness. 500 Global also revealed that 50 percent of the selected companies have female founders. These are the companies that have been selected for Batch #16:
- Avioneta: Monthly subscription for people who want to decrease or learn how to manage their alcohol dependence.
- ConfiAbogado: Online law firm that provides legal solutions to low-income people.
- Gloset: Second-hand marketplace for formal clothing.
- Sapiens Medicus: Online medical education platform with personalized content and virtual reality simulation.
- Scouter: Marketplace that allows clients to rent any space or location for filming and events.
- Lineup: Platform that helps teams sell better by qualifying, routing and scheduling appointments with potential clients.
- Osyva: B2B marketplace that helps veterinary businesses to make their purchases online.
- Qentaz: Financial management for micro-businesses through WhatsApp.
- Habitué: SaaS platform that allows restaurants to regain control of their sales through the digitization of their business, without commissions.
- Bluerabbit: App that creates digital micro-social networks to foster communities in physical spaces.
Companies selected for the program will be able to lay the foundations for future growth through business development; connections with potential investors, mentors and founders, and support with their capital raising process. The program is also tailored to the needs of each company.
“Somos Lucha” began in May 2022 and sought to generate significant impact within the companies it advises, fostering better foundations for growth, better leaders and capital raising. The program is also a testament to Mexico and Latin America’s growth in terms of entrepreneurship. According to Endeavor’s “Soft Landing in Latin America” research, of the 271 Latin American companies identified in the study within the region, 145 chose Mexico as their first expansion destination, while 80 moved to Colombia, 74 to Brazil, 52 to Peru, 51 to Chile and 49 expanded to Argentina. “As murky as the venture capital world is at the moment, there continues to be a strong investment within the Latin and Mexican markets, encouraging the development of new companies,” states Endeavor.