Capital Invent led a MX$27.6m round in Dev.f, a Mexican edtech for programmers.
(Press Release) Dev.f, a Mexican Edtech Startup, raise investment round to increase the number
of programmers in Latam.
Dev.f a Mexican startup dedicated to developing technology skills throughout Latin America, raised its Pre A series first investment round of $1.4M USD led by Invent Capital Fund jointly with other angel and mentors.
This round has allowed them to go from running 5 school locations only in Mexico, to now operating 30 locations in 10 countries in México, Central and South America and escalate its operations in the region.
Dev.f is an EdTech Mexican startup that is “hacking” the education system in Latin America. They are devoted to generating access to quality education with programs that help their students build the necessary skills to become employable in high quality job positions related to technology and the digital economy.
“We are very excited to be entering this phase of growth and expansion, we are working to develop the technology that will allow us to keep escalating while we create educational experiences that are most appropriate to the historical moment that we are living nowadays. We want to tackle the problem of a society that is still working and living with the past education and industrial paradigm”, remarked Elías Shuchleib, CEO.
Invent Capital Fund specializes in internet-based companies and seeks to invest in mission-driven entrepreneurs who are passionate about making the world a better place. Thus, with this investment, Invent adds Dev.f to its portfolio of technology companies that are looking to generate positive impact, this time in an industry that could potentially have lots of impact in thousands of peoples’ lives: education.
“We believe that Dev.f is one of the companies best positioned to impact the educational offer for technology skills in Latin America. We believe that they could educate thousands of people who are eager to participate in today’s digital economy and in the jobs of the future”.
This round goes hand in hand with the award received from IDB Lab, the innovation laboratory of the Interamerican Development Bank, who will double the amount of funds raised. Dev.f obtained this award from amongst 57 other proposals from other schools and bootcamps all over LATAM. The funds will be used to implement innovative models of developing skills for employability focusing on vulnerable population groups in Latin America and the Caribbean who currently lack access to these opportunities.
The initiative will hopefully result in thousands of people developing digital skills that could lead them to gaining access to high-quality employment opportunities in their home region.
About IDB Lab:
“IDB Lab is the innovation laboratory of the IDB Group, the leading source of development finance and know-how for improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, by mobilizing financing, knowledge, and connections to cocreate solutions capable of transforming the lives of vulnerable populations affected by economic, social or environmental factors. Since 1993 IDB Lab has approved more than US$2 billion in projects deployed across 26 LAC countries.
About Invent:
Invent Capital is a Venture Capital fund of Entrepreneurs investing in other entrepreneurs, whose mission is to support and promote ethical entrepreneurs to build a better world, with exceptional revenues.