CTA Smart, a leading technology company in the fuel sector, announced it has secured a $3 million investment in a new funding round to boost its international growth. Led by Invisto and Indicator Capital, this funding will support CTA Smart’s expansion into the American market and lay the groundwork for global expansion.
Investment Details Indicator Capital (the largest early-stage venture capital firm in Latin America specializing in the Internet of Things) and Invisto (a Southern Brazilian VC firm) are spearheading the investment. And Invisto contributed $2 million, while Indicator Capital added $1 million. CTA Smart had previously received $1 million from the Indicator 2 IoT fund in October 2021, with total investments now reaching approximately $3 million.
CTA Smart’s consistent financial and commercial growth, especially in North America, influenced the investment decision. And the company’s operational strength is shown by its active fueling points, exceeding 3,000 in Brazil and over 400 in the US over the past 18 months. This startup manages over 2.5 billion liters of diesel annually.
Based in Brazil, CTA Smart utilizes intelligent systems technology for fleet fueling, operating on a Software as a Service (SaaS) model. And the platform offers robust, remote installation for fuel management across various industries globally, previously available only to large enterprises. Fuel is a significant cost for sectors like transportation, mining, construction, and forestry. Plus, CTA Smart’s real-time and cloud-based management reduces waste and deviations, lowering operational costs while enhancing productivity, profitability, and competitiveness.
Bruno Lopes, CEO of CTA Smart, highlighted the company’s partnerships with major distributors in Brazil and TRRs, improving fuel delivery logistics and customer relations. And Marcelo Wolowski, founder and CEO of Invisto, expressed enthusiasm about CTA Smart’s promising traction in the American market, serving as a gateway to the global market.
