In its first year, Globant Ventures invests half a million dollars in three Argentine startups

Buenos Aires, June 2019 - On its first anniversary, Globant Ventures—the investment arm of Globant empowering technology startups—incorporated three startups as part of its portfolio: ​​CamonApp, a tool that makes it easy to create augmented reality experiences; AvanCargo, the new app that is digitizing freight transport; and TheEye, a tool that solves the workplace needs of the future, through process automation, putting human talent first.

"These three projects summarize what we are looking for in a startup: technology-based businesses, high growth potential on a global scale, and a solid team of entrepreneurs, capable of executing a healthy business plan," said Gustavo Martello, Operating Partner of Globant Ventures.

CamOnApp is a company that offers augmented reality (AR) and web virtual reality technological solutions. This allows brands, media, agencies, and freelancers to enhance communication opportunities, advertising campaigns, or sales actions. CamOnApp Studio stands out in their product lineup: it’s a web-based tool that allows users to design and create AR without developer knowledge.

AvanCargo is the new platform that is digitizing freight transport service connecting shippers with carriers. In a sector with more than 700 thousand registered trucks, one in three travels without freight and 90% are small and light. AvanCargo created a technology-based solution that optimizes the idle capacity of carriers and makes work more intelligent by tracking the load in real time and digitizing the document issuance process.

TheEye is a solution designed to meet the needs of Future of Work through solutions or "recipes" of Robotic Process Automation (RPA). It is transforming the way companies operate, delegating manual and repetitive tasks to robots and reducing direct costs. In the last year they have saved over $500,000 (USD) for their clients in Latin America.

Partners and mentors of Globant Ventures

"We have the support of Endeavor Argentina, EY Argentina, and the Marval, O'Farrell & Mairal Studio in professional services. This pool of mentors is the heart of our accelerator, which is available to the selected startups in order to offer them access to first-class international clients,” said Martin Umaran—Chief of Staff, co-founder of Globant, and General Co-Partner of Globant Ventures with Alejandro Scannapieco. "As Globant has grown over the years, we have learned that the people who implement and empower ideas are as important as the ideas themselves. That is why in Globant Ventures we are going to support these entrepreneurs to take them quickly to the next level," he concluded.

Globant Ventures invests between $50,000 and $250,000 USD in each of the selected projects. Moreover—thanks to being selected by the Argentine State to be part of the Trust Fund for the Development of the Entrepreneurial Capital of the Ministry of Production and Labor—the winners have a co-investment. "We created FONDCE to leverage the investment of private companies in Argentine ideas from the State because we know that entrepreneurial capital plays a fundamental role in the country’s growth." Globant Ventures was chosen as one of the accelerators to promote technology-based projects and today we are very happy to see the initial results.” said Mariano Mayer, Secretary of Entrepreneurs and SMEs.

We continue looking forward for the technology of the future

Globant Ventures continues in search of technology-based startups to add to its portfolio. Those interested can apply at: www.globantventures.com

About Globant

We are a digitally native company where innovation, design and engineering meet scale. We use the latest technologies in the digital and cognitive fields to transform organizations in every aspect.

• Globant has more than 9,200 professionals and we are present in 17 countries working for companies like Google, Southwest Airlines, EA and BBVA among others.
• We were named a Worldwide Leader of Digital Strategy Consulting Services by IDC MarketScape report (2016 and 2017)
• We are featured as a business case study at Harvard, MIT, and Stanford.
• We are a member of the Cybersecurity Tech Accord (2019)