TLDR:
- CTA Smart, a fuel management company, secures $3 million in funding for international growth.
- Investment led by Indicator Capital and Invisto to support expansion into American market.
CTA Smart, a leading technology company in the fuel sector, recently announced that it has closed a $3 million investment round to further its international growth. The funding was led by 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.
Of the $3 million investment, Invisto contributed $2 million, while Indicator Capital added $1 million. This new funding round will support CTA Smart’s expansion into the American market and pave the way for global growth. The company had previously received $1 million from the Indicator 2 IoT fund in October 2021, bringing total investments to approximately $3 million.
CTA Smart has shown consistent financial and commercial growth, particularly in North America, which influenced the investment decision. With over 3,000 active fueling points in Brazil and more than 400 in the US in the past 18 months, the startup manages over 2.5 billion liters of diesel annually.
Based in Brazil, CTA Smart leverages intelligent systems technology for fleet fueling on a Software as a Service (SaaS) model. The platform offers remote installation for fuel management across various industries globally, previously only available to large enterprises. By providing real-time and cloud-based management, the company helps reduce waste and deviations, ultimately lowering operational costs and enhancing productivity, profitability, and competitiveness across sectors like transportation, mining, construction, and forestry.
Bruno Lopes, CEO of CTA Smart, emphasized the company’s partnerships with major distributors in Brazil and TRRs, improving fuel delivery logistics and customer relations. Marcelo Wolowski, founder and CEO of Invisto, expressed optimism about CTA Smart’s promising traction in the American market, serving as a gateway to the global market.
