Tiger Global and H20 Capital led a USD5m pre-seed round for Morado, a Colombian wholesale marketplace for beauty salons, with participation from Andreessen Horowitz, QED Investors and Village Global. Morado was founded by Rappi alum Angla Maria Acosta. Morado was selected as part of Andreessen Horowitz START, an initiative to make USD1m investments in early stage founders out of its USD400m seed fund.
(TechCrunch) – Morado, a two-month-old Colombian startup aiming to digitize beauty salons in Latin America, has raised $5 million in a pre-seed round from a bevy of global investors.
Tiger Global Management and H20 Capital Innovation co-led the round, which also included participation from Andreessen Horowitz (a16z), QED, Latitud and Village Global (which is backed by Jeff Bezos, Mark Zuckerberg and Bill Gates). In fact, Morado is part of a16z’s new START program. A group of angel investors also put money in the round, including Simon Borrero, founder of Colombian on-demand delivery unicorn Rappi; Frubana founder Fabian Gomez; Tul’s Enrique Villamarin; and founders from Truora and Chiper, among others.
Morado’s goal is straightforward: to reinvent the current supply chain through vertical software technology and next day-deliveries. Notably, founder Angela Maria Acosta was an early Rappi employee. She spent four years at the company in a variety of roles, launching grocery for the company and serving as head of business development of Rappi Pay.
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