Welcome to this week’s summary of Brazilian technology and innovation. Here are three key developments in Latin America’s largest economy. First, the key stories of the week are: Brazilian startup Descomplica has set a record round, attracting new supporters such as Mark Zuckerberg and U2’s The Edge. Next, the problems faced by Indian low-cost hotel startup OYO in Latin America and the credit bureau Experian are facing pressure on a major data breach in Brazil.
Brazil’s edtech Descomplica expands its footprint in higher education online
Decomplica attracts Zuckerberg and Edge in a new round
Brazilian startup Descomplica, focused on distance learning, announces a Series E round of 450 million reals (US $ 84 million), described as the largest Series E round ever procured by Latin American edtech. Did.
The round was co-led by existing backers Invus Opportunities and SoftBank. In addition, the startup has attracted a pool of new supporters, including Facebook founder Mark Zuckerberg and the Chanzuckerberg Initiative, a social impact fund led by his wife Priscilla Chan. Endeavor Ireland Chairman and U2 guitarist David Howell Evans (also known as Edge) also participated in the round. Other new backers included Valor Capital Group, Amadeus Capital Partners, and Pennsula Participaes, a fund of Brazilian billionaire Ablio Diniz.
Descomplica started with booster classes in several subjects and courses for students to prepare for college exams and attend civil servants. The startup then embarked on higher education in 2020. According to edtech’s founder and CEO, Marco Fisbhen, resources will be directed towards providing higher education, product development and acquisitions for the company.
“We want to build Brazil’s largest university and quickly reach 1 million students through a fully digitized model,” said Brazil’s Educational Technology field, which launched Descomplica in 2011. Said Fisbhen, a former teacher and pioneer of the.
Among those who admire Fisbhen for Descomplica’s latest feat is Adrian Garcia-Aranyos, president of the influential entrepreneurial network Endeavor. He described the company as “soonicorn”. Billion-And he said the round was also the largest ever for Endeavor’s education and engineering entrepreneurs.
OYO handles Latin American businesses remotely from India
SOPA images via Getty Images / Light Rocket
OYO shrinks business in Latin America
India’s hospitality unicorn OYO has announced a restructuring process that will destroy Latin American businesses in the coming weeks as it continues to feel the negative impact on the sector caused by the Covid-19 pandemic.
Once powerful, the company had an ambitious national expansion plan in Brazil. At one point, it hired more than 700 staff, many of whom focused on hiring and modernizing small, tired hotels as partners to connect to OYO’s AI-powered online booking engine. ..
During 2020, OYO Latin America attempted to respond to the crisis. This included the establishment of a joint venture between OYO Global and its major investor, Softbank, in September. The fund was then tasked with engaging in the operational aspects of its business in Latin America.
With the latest changes, SoftBank is no longer involved in the company’s business, which has transitioned to OYO Global, under a fully digital model that supports Brazilian hotels and customers from India.
The startup has also let go of most of its already scaled-down Latin business, which consists of about 150 staff. Henrique Weaver, director of OYO in Brazil, will remain with the company until the end of February. His Mexican counterpart, German Peralta, departs at the end of March.
Consumer rights agencies want answers to Brazil’s largest data breach ever
Experian faces pressure on large-scale data breaches
After a major data breach that exposed more than 220 million Brazilians, including deceased individuals, credit bureau Experian remains a local independence and government consumer as details about the event remain unknown. There is increasing pressure from rights groups.
The January incident is understood to be the largest data breach in Brazil. Not only data from Experian’s cross-channel consumer classification system Mosaic, but also data sold on the Deep Web, such as personal information, company information, and vehicle registration details, are published. In addition to requests for responses from organizations such as the Brazilian Consumer Protection Institute (IDEC), other agencies have been enthusiastic about this issue over the past few days.
After the incident was discovered, the state’s consumer protection agency, Procon’s Sopaul office, notified Serasa Experian, a Brazilian subsidiary of a multinational corporation. In particular, Procon sought confirmation of the incident and looked at what Experian’s data protection practices were and what steps were taken to contain the leak and compensate consumers.
In response to the notice, the consumer intelligence debate was that activities containing sensitive data were in compliance with local data protection regulations, and that the data was illegally obtained from Serasa Experian or the system was compromised. He emphasized that there was no evidence that it was done. However, the company said a “detailed forensic investigation” was underway.
Procon states that the explanation is inadequate and that the leak is “more and more likely” to come from the corporate environment rather than from a cybercriminal. The agency will further scrutinize the company’s response, fines may apply, and evidence of fraud will be found. Experian did not respond to a request for comment.
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