Angel Ventures invested US$1.3m in CitySense, a Chilean open platform to develop smart city solutions, and US$1.2m in Energryn, a Mexican startup using patented hybrid solar technology to democratize consumer access to affordable green energy, through its Pacific Alliance Fund II.
(Press Release) Angel Ventures has completed the first two investments of its 2nd Fund (Angel Ventures Pacific Alliance Fund II) in the start-up companies CitySense and Energryn.
Citysense (www.citysense.co), a Chilean company founded in 2015 by Antonio García, is an open platform for the development of smart city solutions, comprised of an installed network of “Citysense Urban Monitors” and software development tools. Through a Platform as a Service (PaaS) model, developers can use Citysense to create solutions in various sectors such as: security, transportation, environment, advertising, entertainment, and public services. AV PAF II has initially committed US$
1.3 million to accelerate Citysense’s growth in LatAm.
Energryn (www.energryn.com), a Mexican company founded in 2010 by Andrés Muñoz and Rassiel Lara, has developed a hybrid solar and electric system that has a similar entry price to that of a gas heater with the same capacity. The Company’s disruptive technology is backed by 10 patents and aims to democratize access for the base of the pyramid to green products. AV PAF II has initially committed US$ 1.2 million to drive its growth in Mexico and establish the foundations to export the product in LatAm.
Angel Ventures (angelventures.vc) is a venture capital firm focused on early stage investments with high growth potential in the Pacific Alliance region (Mexico, Chile, Colombia, Perú). AV emerged from the clear lack of funding opportunities in the early-stage sector with the mission to bolster the development of startups by linking them with strategic investors. Currently, AV has invested its first USD 20 million fund in 21 companies and has announced the launch of their second fund, the official Pacific Alliance Fund. This new fund has a USD 120 million target size to be invested in the fintech, retail, health, ICTs, and BoP/Agro sectors.
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