Latin America lags behind other regions in producing unicorns; the United States leads the world in this category of startups, with China, India, the United Kingdom, and France trailing behind.
E-commerce fuels Mexico’s logistics industry; Brazil leads the world in Latin American unicorns with 13; Mycobites wins accolades for its food tech solutions; AI and data boost neuromarketing, and Despegar expands to physical stores in Argentina and Brazil.
Logistics companies in Mexico grow due to e-commerce
Online shopping has become more popular among consumers who want to buy anything from clothes or gadgets to cars, making the digital space a trusted option.
Mexico’s e-commerce market was worth USD$33 billion in 2022, ranking second in Latin America after Brazil, as per Statista data.
The Mexican Association of Private Industrial Parks (AMPIP) reported that before the pandemic, logistics companies occupied 10% to 15% of the total area. This figure has risen to over 30%, according to The Logistics World.
Statista projects that over half of Mexicans shop online, with around 52 million digital buyers in 2022.
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Brazil is in the top 10 countries with the most unicorns
According to the StartupBlink report, North America has the highest number of unicorn startups, with 615. Out of the 51 countries that have unicorns, the United States dominates with 594, accounting for more than half of the global total. Brazil is the top Latin American country with 13 unicorns.
China comes second with 144 unicorns, even though it has a bigger population. India, the United Kingdom, and France are the next three with 68, 46, and 29 unicorns, respectively.
The rest of the Top 10 are Germany, Canada, Brazil, and Singapore. Asia-Pacific is the second-best region for unicorns, with 267, followed by Europe with 171, and Africa and the Middle East with 35. Latin America and the Caribbean have 25 startups valued at over USD 1 billion.
