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Weekly Roundups

New Mexican Unicorn Joins the Family: The Week in Tech

By Andrea Villar | Thu, 09/30/2021 - 14:20

Mexico's unicorn fever shows no sign of stopping. This week, startup Konfío became a unicorn after achieving an additional capital injection of US$110 million. The company founded in 2013, which helps small businesses obtain loans, stated in a release that its latest funding amounted to US$235 million and that the funds will be used to expand its reach in the country.

Read this and more on The Week in Tech!

  • In an inevitable cyber pandemic predicted to “spread faster and further than any biological virus,” according to the World Economic Forum (WEF), Mexican companies remain especially vulnerable. A cyber pandemic seems to be in the works, caused by the “self-propagating attack using one or more ‘zero-day’ exploits, techniques exploits, techniques for which patches and specific antivirus software signatures are not yet available,” details the WEF report. This previously rare form of attack is seemingly proliferating, doubling from the previous year reports MIT Technology Review. Read the full article. 
     
  • Mexican technology company Konfío became the new Mexican unicorn after having achieved an additional capital injection of US$110 million.  The platform aims to drive business growth in Mexico with financing, management and payment solutions. Konfío is consolidating its market position to continue promoting financial inclusion and help business owners improve their productivity and cost-effectiveness, as reported by MBN. The platform was founded in January 2014 and recently completed the acquisition of “Sr. Pago.” In June 2021, Konfío acquired funding for the equivalent of US$125 million for a total of US$235 million in the capital, reaching a valuation of US$1.3 billion and turning into a unicorn.

 

  • How is second-hand trade great for the environment? When a person buys and sells used items on our platforms, the decision impacts the environmental situation because less consumption of new goods means less production, which results in less negative impact and leaves a positive environmental impact on climate change, biodiversity, resource scarcity and ecosystems, revealed a study by Adevinta and Schibsted. In this article, Ariel Cilento, General Manager of Segundamano shared the savings that the platform has achieved in Mexico in terms of CO2 emissions, plastic, steel and aluminum waste.


 

  • What does it take to move from a traditional mindset to a hyper-growth mindset? Ulises Vázquez, CEO of Mureni, shared with Mexico Business what is behind the accelerated growth of unicorns in Mexico, why it is vital to take risks and what it takes to build such a company. “The main difference with a traditional business is that your main focus is growth not profits,” he says. Read the complete article here.
     
  • General Motors announced a new end-to-end software platform Ultifi, which will come to be part of its vehicles starting in 2023 and offer in-car subscription services, over-the-air updates and will transform the company “from an automaker to a platform innovator,” the company said in a statement. “It is a big next step in our software strategy. Today’s cars are enabled by software, with Ultifi, they are going to be defined by it,” said Scott Miller, Vice President of Software-Defined Vehicles at GM. Read the full article here.
     
  • Apple scrambled frantically for almost three weeks after researchers at the University of Toronto’s Citizen Lab identified a zero-click vulnerability affecting all its devices via the iMessage application. As of last Monday, the issue has been reportedly fixed but cybersecurity analysts say this is only the beginning of these types of attacks. By now, most cybersecurity trainers instruct employees to not click or download links coming from random numbers or email addresses. This standard is now obsolete in the face of zero-click exploits which allow hackers to access devices without the users ever knowing. Get the whole picture here.
     
  • The UN warns that both states and companies have rushed to incorporate AI software without exercising due diligence, increasing the risk of undeniable and growing repercussions of these technologies in the right to privacy and other human rights. Get the full picture here.
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Andrea Villar Andrea Villar Journalist and Industry Analyst