(peHUB) April 24, 2012 – Zauber, an Argentina-based software boutique and lab, specialized in Consumer Web, Social Analytics and Big Data projects, has just secured US $1 million dollars from AxVentures-Pymar Fund in its first venture capital financing round.
To read this story in Spanish, please click here.
With this investment, the company will power its lab of new products and grow its business in Silicon Valley, setting up a local office and reinforcing their position as technology partners of new and already established start-ups.
Founded 5 years ago by six Argentinian software engineers, Zauber has grown organically until now, being able to set up a creative team of 45 people which combines a unique blend of engineering and UX skills, together with mathematicians and machine learning engineers. The company has Al Jazeera, JWT, Coca-Cola and MuleSoft, among its US-based most relevant clients of its boutique services and has been involved in the creation of several startups in Latin America already.
Zauber lab uses Agile and Lean Startup practices to incubate and explore new product and business ideas, transforming them into independent companies through spin-offs. Most recent success case is Cupoint, a daily deals aggregator and recommendation engine which was started one year ago as an experiment at Zauber Lab, and has already received US $700 K dollars in VC funding from AxVentures-Pymar Fund.
“Five years ago we started Zauber as a garage company with the idea of creating a software technology company with a strong focus on R+D and innovation applied to product development. This is a huge achievement for us, which will let us grow our business and power our lab investments.”, said Gabriel Baños, CEO and Co-Founder of Zauber.
About Zauber
Zauber is an Argentina/US-based Software Boutique and Lab that provides high-end software development services for industry leaders and Internet startups from Latin America and Silicon Valley. The company combines its boutique high-end services with an R+D Lab and incubator, that develops new ventures and products.
About Ax Ventures and Pymar Fund
Ax Ventures SRL is the Local Manager of Pymar Fund LP, in Argentina. Lisandro Bril is Founder and Managing Partner, Eduardo Orteu and Mario Vázquez are Managing Partners of Ax Ventures. PYMAR is a venture capital fund, sponsored by Fundación Empresa y Crecimiento (FEC), and other Limited Partners are the Multilateral Investment Fund (MIF) of the InterAmerican Development Bank (IDB), COFIDES, CAF and Argentine Private Investors. The aim of PYMAR is to invest in Argentine innovative and technology companies that target regional and global markets. PYMAR’s General Partner is Gestora de Empresa y Crecimiento SL(GEC) , property of Fundacion Empresa y Crecimiento from Spain.