Indicator 2 IoT Fund completes first year with more than R$ 70 million invested in startups

Contributions made by Indicator Capital, manager firm of the fund created via public bid by BNDES and Qualcomm Ventures, which boosts the National IoT Plan, have already benefited seven companies.

August, 2022 – Launched in May 2021, the Indicator 2 IoT Fund, created via public bid by BNDES and Qualcomm Ventures and managed by Indicator Capital, completed its first year with seven investments and more than R$ 70 million invested in startups focused on Internet of Things and Connectivity for various market sectors. So far, Monuv, CTA Smart, InfoPrice, Beegol, Rúmina, SYOS and IBBX have benefited from the contributions.

With open doors for entrepreneurs, Indicator Capital points out that all stakeholders are invited to participate in its investment process. The fund, with a raised value of R$ 240 million, is focused on early-stage investments and the first specialized in Internet of Things and Connectivity in Latin America.

"We have a process that reduces unconscious biases related to origin, race, sex, or sector and technology, and praises for investment opportunities. Above all, we seek founders with a partner's head and attitude to transform Brazil for the better through Technology. Sectors such as Agriculture, Health, Industry 4.0, Smart Cities and Mobility will be key in our work," says Derek Bittar, Indicator Capital co-founder.

Indicator Capital's decision for this type of fund was a combination of the unique moment of global digital transformation and the potential of the technological ecosystem in Brazil for new investments, and with the evolution of the concept of Internet of Things.

Fund investments drive digital transformation into strategic sectors

The future promises to be even more promising. The pandemic caused by Covid 19 catalyzed the implementation of IoT solutions in specific areas and now, with the advance of 5G in Brazil, they will be increasingly present in the lives of consumers and in the companies and governments operations. 5G will not only be a tool to transmit more data in less time but will open up a range of possibilities for IoT, where it will be necessary to support the interaction of millions of devices and represents a universe of opportunities for venture capital investments and startups. It´s estimated an impact of billions of dollars on the national economy by 2030 and a potential economic value for the period between US$ 5.5 trillion and US$ 12.6 trillion in global amount, according to McKinsey Global Institute.

Investments made by the Indicator 2 IoT Fund so far:

• Monuv, a platform that transforms any security camera into a smart IoT device, received a contribution of R$ 4 million. Present in all states of Brazil with cameras in public and private spaces, it expands the concept of individual security and creates the proposal of intelligent collective security, contributing to safer spaces and cities.

• CTA Smart, intelligent systems technology for fleet supply based on a SaaS (Software as a Service) model owner, joined the Indicator Capital portfolio receiving R$ 5.5 million. The platform makes fuel management accessible, avoiding waste and diversions, to companies of all sizes of different segments, from Brazil and the world, which was previously only possible to large companies.

• InfoPrice, a technology startup focused on research and price intelligence, received R$ 15 million and has the support of Indicator Capital to improve its dynamic pricing system, making it accessible to SMBs (small and medium businesses). The startup's unique and disruptive retail control, monitoring and pricing intelligence solution closes the loop in five major steps that will help end-to-end retailers.

• Beegol, machine learning-based platform that uses Artificial Intelligence to monitor and improve the quality of customer experience with the Internet and the services of broadband and wi-fi operators received R$ 11 million. Beegol's platform is the only one in the world that sees the 'end to end' network, including all the components needed to provide an excellent Quality of Experience (QoE) to the end customer.

• Rúmina, digital solutions ecosystem that already serves 7,000 dairy and cutting farms in Brazil, Uruguay and Argentina, received R$ 8.5 million. Rúmi, Rúmina's artificial intelligence, has been helping thousands of farms in its management, disease detection, credit taking and traceability of production.

• SYOS, a Startup from Rio de Janeiro that developed a cold chain management platform for Brazilian food retail, received R$ 12 million. Through IoT and Artificial Intelligence (AI), it optimizes the operation of refrigerators, ensuring the quality of products in an era that consumers are increasingly concerned about their health.

• IBBX, a Brazilian startup that developed a disruptive technology capable of literally capturing the 'energy lost in the air' in the form of low frequency electromagnetic signals, received R$ 14.6 million (US$ 3 million). In this way, it is possible to connect, use and forget a connected sensor, innovative concept called Plug, Play, and Forget.

Lasting 10 years, the fund will invest in up to 30 early-stage companies (Seed and Series A). Indicator Capital is always searching for other startups that are growing rapidly and work with disruptive and transformative technology. So far, the manager firm has mapped more than 488 Brazilian IoT startups, 356 in Brazil and 132 with international governance, representing more than R$ 4.6 billion in investment opportunities.

About Indicator Capital

Founded in 2014, Indicator Capital is a Brazilian venture capital firm operating in Sao Paulo and the Silicon Valley. The partnership formed by Derek Lundgren Bittar, Fabio Iunis de Paula, and Thomas Lundgren Bittar, promotes the convergence between the dream of the entrepreneur and the financial return for the investor, tropicalizing American best practices to national startups. With more than R$ 300MM under management, Indicator Capital is the largest early-stage venture capital firm in Latin America specialized in Internet of Things (IoT). In their investments, the partners apply value-adding, proprietary methodology Building Value Together®, besides acting as Investors for Good, a concept reinforced by the firm`s certification as a B System™ company. www.indicatorcapital.com.

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