February 2019 Newsletter

To view Endeavor’s February newsletter, a recap of all the top news stories from the past month, please CLICK HERE.

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Picking Up Momentum, Endeavor Catalyst Crosses the 100 Investment Mark

Endeavor Catalyst blazed through a milestone of 100 investments in companies led by Endeavor Entrepreneurs this January, starting 2019 off strong after closing the fund’s busiest year of investment yet in 2018.

From Bukalapak, an Indonesian e-commerce unicorn, to Detroit’s Workit Health, a telehealth addiction treatment company, the newest investments reflect the steadily growing pace and increasing diversity of the Endeavor Catalyst portfolio, which today is comprised of investments in more than 20 markets and across eight industry sectors. The recent additions also include SkuVault, the fund’s first investment in Louisville, Kentucky, where Endeavor expanded in 2015.

Endeavor Catalyst Managing Directors Allen Taylor (right) and Jackie Carmel present fund updates to investors at the 2017 Endeavor Catalyst Investor Meeting in Half Moon Bay, California

Endeavor Catalyst is Endeavor’s innovative co-investment fund, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Following an objective, rules-driven approach, Endeavor Catalyst invests up to 10%  (currently capped at $2 million) of an Endeavor Entrepreneur’s equity round of over $5 million, led by a qualified institutional investor.

The fund’s pioneering model has facilitated its rapid scale. Launched in 2012, Endeavor Catalyst made between five and ten investments in each of its first four years. That rate has increased dramatically over the past three years, with each year marking a new “high” in terms of investments. Following 16 investments in 2016 and 22 investments in 2017, the fund made a record-high 32 investments in calendar year 2018. In Latin America, the MENA region, and parts of Europe, Endeavor Catalyst has been recognized as one of the most active investors.

According to Endeavor Catalyst Managing Director Allen Taylor, there are three primary drivers for the increased investment activity: Endeavor’s own expansion, from 17 markets in 2012 to 34 today, the strength of the Endeavor portfolio, and the spread of equity capital to more and more markets that have traditionally been underserved.

“Seeing firms like Sequoia Capital and Andreessen Horowitz investing in Latin America, TPG investing in Africa, and General Atlantic investing in the MENA region tells you a lot about the potential in these markets,” noted Taylor.

Endeavor Catalyst has invested in rounds alongside over 100 funds, while providing its own LPs access and exposure to some of the fastest-growing companies all over the world — reinforcing Endeavor’s belief that high-growth companies aren’t just in Silicon Valley.

In fact, the most successful companies in the Endeavor Catalyst portfolio hail from incredibly diverse geographies: Indonesia’s Bukalapak joins Cabify (Spain) and Rappi (Colombia) as the portfolio’s unicorns, and Globant (Argentina), Yemeksepeti (Turkey), Mapan (Indonesia), FIGS (Miami), and Cornershop (Mexico/Chile) have all realized exits.

As it grows, the portfolio’s breadth also offers insight into what types of entrepreneurs and companies are growing most quickly. Thus far, the Fund has invested primarily in technology and technology-enabled companies: 75% of the Fund’s capital has been deployed in Retail & Consumer Tech, Fintech, and Enterprise Software and Services. With the vast majority of these companies raising Series A and Series B rounds, it is clear that more high-potential companies founded today are integrating technology into their core functions.

We continue to see that great entrepreneurs globally can attract top-tier investors, and our pipeline remains very active going forward. Investments in Endeavor Entrepreneurs fuel the growth of high-impact companies, creating new jobs, driving revenues, and fostering economic growth in the places that need it the most. Building on the success of Fund I and Fund II, Endeavor Catalyst will be launching Fund III in the coming months.

 

Endeavor Discusses the Future of Entrepreneurship and the South Florida Ecosystem with the Kenan Institute

The Kenan Institute’s annual Frontiers of Entrepreneurship Conference in Palm Beach, Florida, shone a spotlight on the Endeavor network this month, featuring Endeavor Entrepreneurs and Endeavor staff speaking on high-impact entrepreneurship on the agenda. The two-day event, held January 31 to February 1, convened 150 thought-leaders from academia, government, and business to discuss the most pressing issues facing entrepreneurs and entrepreneurship ecosystems today.

During the event, Endeavor Miami Managing Director Laura Maydon sat on a panel on “Principled Entrepreneurship” — entrepreneurship rooted in solving problems that matter to the founder and create values for others. Laura spoke about the connection to high-impact entrepreneurship, opening up a discussion on whether they are one in the same or mutually exclusive. Endeavor Miami Entrepreneurs Jackie Baumgarten of Boatsetter and Emiliano Abramzon of Nearpod participated in a panel discussion on founding teams, sharing their own experiences of starting, and scaling, a business in Miami.

Highlights of Endeavor’s involvement also included the opportunity to share new research on the South Florida ecosystem currently in progress by Endeavor Insight in partnership with the Knight Foundation, which will be completed later this spring. Presented by Endeavor Insight researcher Maha AbdelAzim, the new project aims to highlight the greatest opportunities for supporting the growth of local scale-up entrepreneurs, and will identify industries where these entrepreneurs have had the most success in South Florida, as well as where they provide a strategic advantage relative to other parts of the country.

The Kenan Institute is an initiative of the University of North Carolina’s Kenan-Flagler Business School, seeking to foster mutual understanding and appreciation between members of the private enterprise sector, the academic community, and their government, and to encourage cooperative efforts among these groups. Endeavor is proud to be a part of these thoughtful and insightful conversations to determine the future of entrepreneurship research. View the event’s full agenda here.

Endeavor Selects 32 Entrepreneurs from 13 Markets at the 85th International Selection Panel in San Francisco

Endeavor Puerto Rico Welcomes First Entrepreneur

Endeavor selected 32 high-impact entrepreneurs leading 17 companies from 13 markets at the 85th International Selection Panel (ISP) in San Francisco, California, held February 6-8, 2019, welcoming the first company selected from Puerto Rico, where Endeavor launched last year. Endeavor now supports 1,825 entrepreneurs leading 1,141 companies in 33 markets around the world.

The ISP is the culmination of a rigorous multi-step selection process to identify innovative and driven entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off and make an impact.

Over the course of the three-day event, panelists drawn from Endeavor’s extensive network of board members, mentors, supporters, and experienced Endeavor Entrepreneurs, interview entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and deliberating on which candidates should be selected to become Endeavor Entrepreneurs. Panelists must vote unanimously for a candidate to become an Endeavor Entrepreneur.

“The ISP brings together the best minds in the Endeavor network with some of the most talented founders in growth markets globally. Thank you to all who commit their time and lend their expertise to serve as panelists, and congratulations to all of the entrepreneurs selected in San Francisco! We’re thrilled to welcome our first Endeavor Entrepreneur from Puerto Rico, and can’t wait to see more of the ecosystem’s talent,” commented Endeavor CEO Linda Rottenberg. 

The companies selected in San Francisco span a wide range of industries, including three Data, Marketing & Media companies, three Smart City companies, and three Enterprise Software and Service companies, with others operating in Healthcare, Education, F&B, Retail, and Fintech.  

Once selected, Endeavor Entrepreneurs gain access to comprehensive customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key needs.

Endeavor Entrepreneurs have had a significant track record of impact. Endeavor Entrepreneurs have created 1.5 million jobs, generated $15 billion in revenue in 2018, and help build sustainable growth models in their home countries.

In 2019, ISPs will be held in Cairo (March 13-15), Madrid (April 24-26), Tokyo (July 1-3), Quito (August 5-7), Atlanta (September 23-25), Istanbul (October 21-23), and Riviera Maya (December 11-13). For more information on these events, please contact ISP@endeavor.org.

Thank you to Endeavor Global partner AXA, who generously sponsored the event.

Learn more about the companies and entrepreneurs selected in San Francisco below:

ARGENTINA

Entrepreneur: Pierpaolo Barbieri
Company: Ualá
Description: In Argentina, about 70% of adults transact fully in cash, over 50% do not possess a bank account, and only 12% have a credit line. And across LatAm, 48% of adults do not have access to formal financial services. Ualá is the region’s first one-stop shop digital financial services provider laser-focused on the unbanked and underbanked. It provides consumers with a pre-paid Mastercard and accompanying mobile application that enables free online payments, peer-to-peer transfers, and ATM withdrawals. The app also educates consumers by offering an automatically integrated personal finance management tool and personalized online support.

Entrepreneur: Demian Brener
Company: Zeppelin
Description: Zeppelin Solutions is a leader in the blockchain space as the go-to platform for smart contract development. It builds software to grow and protect the core infrastructure of an open economy powered by blockchain technology. It does so by building the infrastructure for developers to create and operate smart contract systems on. Zeppelin also conducts offline security audits of decentralized applications through a consulting service. Also, it recently launched a development platform for users to build secure blockchain-based applications (dApps).

BRAZIL

Entrepreneurs: Lodovico Brioschi and Dominique Oliver
Company: AMARO
Description: AMARO is a Brazilian direct-to-consumer, digitally-native brand that sells high-quality yet affordable apparel, footwear, and accessories both online and offline through 16 “Guide Stores,” which allow customers to touch and feel the products and receive their purchases at home. As the country’s first digitally native vertical brand, AMARO is providing customers with a superior customer experience, and leveraging data and technology to redefine the fashion supply chain and distribution model to a more agile and trend-focused one.

Entrepreneurs: Daniel Pires and Leonardo Rangel
Company: Cortex Intelligence
Description: Cortex offers a “Growth Intelligence Platform” which empowers informed decision making for sales & marketing teams in order to drive growth. The platform aggregates data from more than 10,000 external sources and integrates it with internal client data to deliver powerful insights into the effectiveness and ROI of a broad range of critical activities. Cortex provides its analysis through a user friendly, flexible dashboard that removes the guesswork and lets managers quantify the success of their sales and marketing investments.

BULGARIA

Entrepreneur: Alexander Rangelov
Company: IPS
Description: IPS is an energy solutions company that seeks to bring electricity to areas where the electrical grid is faulty or nonexistent through its flagship product, Exeron, a power generation system that uses solar, wind, and diesel energy to supply uninterrupted power. The system also includes an award-winning smart battery management system that extends battery life by 30% on average. Exeron is unique in the industry because it can perform in extremely harsh environmental conditions and its proprietary software-hardware integration makes the system manageable by non-engineers.

EGYPT

Entrepreneur: Mounir Nakhla
Company: Halan
Description: Halan is an on-demand ride-hailing and logistics company whose fleet consists of tuk tuks, motorbikes, and cargo tricycles. The company focuses on underserved communities that lack efficient, safe and reliable transportation options. Since Halan’s launch in November of 2017, it has facilitated over 4 million rides across Egypt and Sudan.

Entrepreneurs: Mahmoud Nouh, Ahmed Sabbah, and Mostafa Kandil
Company: SWVL
Description: SWVL is premium mass transit system that enables riders heading in the same direction on a fixed route to share a ride in a van or bus during morning and evening commutes for a fixed flat fare with no surge pricing.

GREECE

Entrepreneurs: John Papadakis and Andreas Vourkos
Company: Pollfish
Description: Pollfish is transforming the $76B market research industry by tapping into the network of hundreds of millions of smartphone users worldwide. With a platform that enables “do-it-yourself” market research surveys, Pollfish empowers consumer brands and advertising agencies to create a customized survey in minutes and push it out through a network of 140,000 App Partners consisting of 580M+ consumers across over 160 countries.

Entrepreneurs: Argyris Kaninis and Marios Stavropoulos
Company: Softomotive
Description: Softomotive is a provider of Robotic Process Automation products and services, with more than 7,000 clients worldwide. The company has two flagship products, WinAutomation and ProcessRobot, that bridge the gap of desktop and server-based software to improve operational efficiency and realize workforce potential.

INDONESIA

Entrepreneur: Marshall Pribadi
Company: PrivyID
Description: PrivyID is revolutionizing how individuals are identified and online agreements are executed in Indonesia. As the nation’s first legally-binding electronic signature and digital identity provider, PrivyID brings convenience, protection, and savings to the millions of Indonesians conducting business remotely each week. PrivyID believes the foundation of a healthy digital economy relies on trusted identity and digital signature, and has served over 2.7 million users to date with 14,000 more added every day.

ITALY

Entrepreneurs: Francesco Patarnello, Matteo Danieli, Luca Querella, and Luca Ferrari
Company: Bending Spoons
Description: Italy-based Bending Spoons is a global leader in mobile application development and marketing. With a portfolio of over 20 iOS applications across various categories including health and wellness and photo editing, among others, the company has received over 100M downloads in the last 2 years and currently receives roughly 290,000 downloads each day.

JAPAN

Entrepreneurs: Taka Miyasaka and Koji Minegishi
Company: BONX
Description: BONX is a communication technology company that produces stylish Bluetooth headsets as well as a mostly handsfree VoIP system for groups communicating with unreliable Internet connections. Having found success with the outdoor sports market, BONX is now penetrating other industries where this technology proves useful, including retail stores, hospitals, and corporate offices.

MEXICO

Entrepreneur: Noel Trainor and Noemi Valencia
Company: Knotion
Description: Knotion’s digital education platform helps schools in Mexico transition from traditional learning methods to a technology-based curriculum to redefine learning. Knotion’s solution includes a suite of interdisciplinary lesson plans and digital resources, including e-books, videos, and augmented reality, for K-9 classrooms. Each school year, parents pay per student license, giving their child access to Knotion’s digital lesson plans and real-time performance data via its iPad, Andoid tablet, or mobile application.

MIAMI

Entrepreneurs: Eddy Prado and Jorge Prado
Company: The Fastmind
Description: The Fastmind helps brands increase digital advertising sales conversions and organic conversions by up to 50%. Today, digital content can only be shared within the platforms that house it, but The Fastmind enables brands to seamlessly share content and products to users across all platforms at once. This unique technology helped 12 million users flexibly access content and e-commerce links via their platform of choice in 2018.

PUERTO RICO

Entrepreneur: Jason Borschow
Company: Abarca Health
Description: Abarca Health is a pharmacy benefits manager (PBM) that partners with health plans, employers, and government programs to manage drug costs and optimize the pharmacy and overall healthcare experience. Abarca Health has built a proprietary end-to-end PBM technology platform known as Darwin that serves more than 2.5 million patients, representing nearly $2B in annual drug spending. Clients of all sizes, including other PBMs, have leveraged the Darwin platform to improve the customer experience — designing drug coverage options, processing claims, enabling clinical programs, and running timely analytics.

SPAIN

Entrepreneurs: Ariel Quinones and Gonzalo Manrique
Company: Ironhack
Description: Today’s educational institutions fail to prepare students for tomorrow’s ever-changing workforce. Even with the advent of the digital age, traditional universities remain rooted in stagnant, antiquated curriculum that does not equip students to meet rapidly changing market demands. Ironhack is an educational community offering part-time and full-time technical courses across three disciplines — Web Development, UX/UI and Data Analytics — to fill the increasing gap in the education system and prepare the next generation of digital employees.

UAE

Entrepreneurs: Saman Darkan, Mohamad Ballout, and Andres Arenas
Company: Kitopi
Description: Kitopi, “Kitchen Operation Innovations,” is a network of interconnected optimized smart cloud kitchens that cook and deliver on behalf of food brands. The company provides the managed infrastructure and technology that enables food brands to open delivery-only locations with minimum capital expenditure and time. Kitopi handles all of the brands’ delivery orders through its network of kitchens so its clients can focus on running their dine-in restaurants and internal business operations.

Louisville’s SkuVault Raises $8 Million Series A with Participation from Endeavor Catalyst

SkuVault, a cloud-based inventory and warehouse management software platform, has raised an $8 million Series A investment round led by Ballast Point Ventures with participation from Poplar Ventures and Endeavor Catalyst. Led by Endeavor Entrepreneurs Andy Eastes and Slav Ivanyuk, SkuVault is the first Louisville company to receive investment from Endeavor Catalyst.

Selected into the Endeavor network in 2016, SkuVault’s platform enables warehouse employees to fulfill customer orders more efficiently and allows purchasing managers to actively track inventory levels across disparate geographic footprints. Customers are able to scan products in and out of warehouses and retail stores via a simple barcoding system and sync real-time inventory data across multiple online marketplaces such as Amazon, Ebay and Jet.

Endeavor Entrepreneurs Andy Eastes and Slav Ivanyuk with the Endeavor Louisville team at the Boston Endeavor ISP in 2016, where they were selected.

SkuVault will use the investment to amplify marketing efforts, add to the sales force, and further enhance its software product offering.

“Billions of dollars are lost each year in the retail industry due to inefficient warehouse operations and substandard inventory processes. SkuVault’s real-time insight into inventory levels prevents overselling and out of stocks, and its barcoding and quality control features reduce picking and shipping errors, thereby increasing operational efficiency,” said SkuVault Co-Founder and Chief Executive Officer, Andy Eastes. “SkuVault is excited to partner with Ballast Point Ventures and the Series A co-investors and for the possibilities this minority investment will provide. We are looking forward to expanding our profile within eCommerce and continuing to support our long-standing customers with world-class technology tools and customer service.”

Read more about the investment here.

About SkuVault

SkuVault, headquartered in Louisville, Kentucky, provides a cloud-based inventory and warehouse management software platform designed primarily for businesses looking to scale with a competitive eCommerce and omni-channel distribution solution. Delivered via a Software-as-a-Service model, SkuVault’s product is directly integrated with channel management systems, eCommerce store platforms, shipping software, and many other operational technology platforms, creating a more seamless experience for its customers and allowing for more streamlined product fulfillment. SkuVault makes it easy for clients to connect their warehouses to the world while increasing fulfillment speed, accuracy, and profit. For additional information, visit www.skuvault.com.

About Ballast Point Ventures

Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including software, technology-enabled business services, healthcare, and consumer. Ballast Point Ventures has $360 million under management across three Funds and seeks to make initial equity investments ranging in size from $4 million to $10 million. For additional information, visit www.ballastpointventures.com.

About Endeavor Catalyst

Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised over $115M in philanthropically donated and invested capital, and invested into 100+ Endeavor companies in 20+ markets. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina, Yemeksepeti.com (acquired by Delivery Hero) in Turkey, and dr. consulta in Brazil.

Indonesian Tech Giant Go-Jek Acquires Endeavor Philippines Company Coins.ph

Coins.ph, a blockchain-enabled financial services platform, was acquired by dominant Indonesian ride-hailing and logistics company Go-Jek this January, for an undisclosed amount. The deal marks Go-Jek’s second acquisition of a company in the Endeavor network, following Mapan (PT RUMA) in 2017.

Founded and led by Endeavor Entrepreneur Ron Hose, Coins is Southeast Asia’s leading mobile blockchain-enabled platform that allows anyone, including those without bank accounts, to easily access financial services directly from their phone. Using Coins, customers have access to a mobile wallet and services such as remittances, air-time, bill payments, and online shopping at over 100,000 merchants who accept digital currency.

Endeavor Entrepreneur Ron Hose (second from right) with the Coins team | Photo courtesy of Coins.ph

Though its population swells at 610 million people, Southeast Asia as a region has a bank penetration rate of 42% and a credit card penetration rate of a mere 5%. Operating in the Philippines and Thailand, Coins’ mission is to increase financial inclusion by delivering financial services directly to people through their mobile phones.

Founded in 2014, and selected into the Endeavor network in 2017, Coins has quickly established its dominance in the region. Coins claims five million registered users in the Philippines alone today, and has plans for further expansion. In fact, Coins was already in the process of raising a new round of funding when approached by Go-Jek, Ron reported to TechCrunch.

After the deal is finalized, Coins will continue operating as usual, while tapping into Go-Jek’s resources and experience. Read more about the acquisition in TechCrunch here.

Harvard Business School Publishes Fourth Case Study on Endeavor

A new case study prepared by Harvard Business School (HBS) profiles Endeavor’s expansion and inflection points over 20 years, exploring the evolution of Endeavor’s operating model and global strategy, and considering the organization’s next stage of growth.

The case, “Endeavor Turns 20,” is the fourth conducted by the university centering on Endeavor’s work, with the first study (2003) focused on Endeavor’s plans for growth; the second study (2009) exploring the concept of high-impact entrepreneurship; and the third (2014) examining the economic conditions that led Endeavor to expand into the U.S. This study, led by Professor Lynda Applegate, charts how Endeavor positioned itself as a global leader in high-impact entrepreneurship and outlines further opportunities for innovation as the organization reaches a new stage of growth.

Professor Lynda Applegate, a longtime Endeavor supporter and Endeavor Detroit board member, visited Endeavor Global’s New York City office this January to teach the HBS case study to Endeavor staff.

Like many entrepreneurial ventures, Endeavor began as a crazy idea, launched around a kitchen table conversation about the potential for high-growth entrepreneurship in emerging markets to improve economic development. In 1997, the first offices were launched in Argentina and Chile. Since then, much has changed. Today, Endeavor has selected nearly 1,800 entrepreneurs leading over 1,100 companies and is located in 33 markets, spanning Latin America, Africa, Europe, Asia, the Middle East and the U.S., with further expansion underway.

The new case study provides a narrative on Endeavor’s history and various stages of growth, while delving deeper into the organization’s evolution since 2014 as organization “of, by, and for entrepreneurs” — from pioneering a self-sustaining model with the launch of the Endeavor Catalyst fund, to the development of new peer-to-peer and industry-specific communities within the Endeavor network. You can read the full case and other HBS faculty research and publications here.

 

January 2019 Newsletter

To view Endeavor’s January newsletter, a recap of all the top news stories from the past month, please CLICK HERE.

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Brazil’s GESTO Raises Series B Round with Participation from Endeavor Catalyst

GESTO, a healthtech consulting company that uses data science to intelligently manage healthcare plans, has closed a Series B investment round for an undisclosed amount, led by Redpoint eventures with participation from Endeavor Catalyst. This second round of funding will be used to drive the company’s continued fast growth and to expand its application of big data to generate intelligence for the complete cycle of healthcare benefits management, from consulting and brokerage of the health plan to its maintenance and monitoring on a daily basis.

“This new investment is important for us to ensure our continued rapid growth, excellent customer service, and our ability to improve Brazil’s overall healthcare market. In 2016, we introduced a benefits brokerage that integrates data science into the quotation strategy, in addition to our technology consulting business. This expansion drove 100 percent growth during 2017. Now, our goal is to triple our revenue in the next two years and be among the three most remembered brands in the health benefits consulting category,” said GESTO CEO and Endeavor Entrepreneur Fabiana Salles.

Selected as an Endeavor company in 2017, GESTO has developed solutions to balance patients’ healthcare needs with financial sustainability. The company has pioneered the application of big data to bring more efficiency to healthcare management, a critical issue for Brazil, which consumes about 12 percent of resources to finance 65 percent of supplementary health in Brazil. To make matters worse, healthcare-management costs have continued to rise which increases medical-hospital cost annually in the double digits, a faster growth rate compared to Brazilian inflation.

GESTO currently has more than 100 clients and manages a bank of six million patients monthly, higher than the population of 95 percent of Brazilian cities. Its main solution is the intelligent management of health plans, which comprises three levels of services linked to technology: information management, medical management and benefits management.

“Just as with fintech, we believe that technology is already driving major transformations in the Brazilian health market, which is huge and full of inefficiencies,” said Fabiana. “In this sense, we modeled all of our experience acquired over the years to develop our customer offerings powered by big data and supported by data science. We are working hard so that GESTO becomes one of the top references for healthtech in Brazil and designing our solutions to help bring sustainability our country’s healthcare system.”

About Redpoint eventures

Redpoint eventures is an early-stage venture capital firm focused on the internet based in São Paulo. Our mission is to support entrepreneurs in the Brazilian digital market in their journey in creating high-growth companies. Together with its partners, the renowned American funds Redpoint Ventures and e.ventures, the fund brings capital, access to Silicon Valley and global best practices for high-potential startups. In addition to supporting the companies in its portfolio, the fund’s team seeks to contribute to the development of entrepreneurship ecosystem in Brazil. For more information, visit www.rpev.com.br.

About Endeavor Catalyst

Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised over $115M in philanthropically donated and invested capital, and invested into 80+ Endeavor companies in 20+ markets. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina, Yemeksepeti.com (acquired by Delivery Hero) in Turkey, and dr. consulta in Brazil.

ArabiaWeather and Raymetrics SA Team Up to Revolutionize Dust Forecasting in the Middle East

ArabiaWeather, a pioneer in weather technology, and Raymetrics SA, a manufacturer of Light Detection and Ranging (LIDAR) systems, are teaming up across borders to revolutionize dust forecasting in the MENA region. Based in Jordan and Greece respectively, the two companies connected through the Endeavor network. 

“We are very excited about our partnership with Raymetrics SA, as it will help us deliver greater value to our existing and future clients,” commented Ehab Al Shurafa, Managing Partner at ArabiaWeather in a press release.

The partnership, solidified through a Memorandum of Understanding (MoU) signed by both companies, will enhance the quality and accuracy of ArabiaWeather forecasts, which over 45 million users  in the MENA region — including consumers, enterprises and governments — rely on. The technology will allow ArabiaWeather to bolster its forecasting abilities for dust storms, a frequent occurrence in the region, improving readiness and emergency response.

The MoU will also enable Raymetrics SA to benefit from ArabiaWeather’s regional experience and standing in order to expand its reach within the MENA.

“Raymetrics SA and ArabiaWeather have a common vision for the MENA region, and this partnership is the foundation for achieving it,” said Raymetrics SA CEO Nikos Kontos.

Learn more in the official press release here.

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