March 2026 looked like a month in which investors tried to hedge their existential dread with a mix of AI, insurance, healthcare and, for reasons only private equity can fully explain, eggs. The market served up a familiar cocktail: big names doubling down, founders attaching “AI” to anything with a pulse, and capital still showing up where distribution, defensibility, or regulation create real moats.
The vibe was less “spray and pray” and more “pick your spots, then write a real check.” Late-stage conviction showed up in insurtech, healthtech kept earning its seat at the table, and the seed market rewarded a few narratives that feel very 2026: stablecoins, AI-native platforms, and founder communities dressed as companies until proven otherwise. In other words, same circus, slightly better unit economics.
Deep Dive: Top 5 Most Relevant Deals
1) Global Eggs — Private Equity, USD 1B
This is the deal nobody in venture can ignore, even if it technically wandered in from the neighboring private equity party. A billion-dollar round led by Warburg Pincus automatically bends the month’s gravity field; size alone puts it in a different solar system from everything else on the list. It is not the sexiest company in the file, but that is precisely the point: when that much capital goes into a deeply real, asset-heavy business, it reminds the ecosystem that “boring” industries with cash flow and scale still beat pitch-deck poetry in the capital stack.
2) Azos — Series C, USD 24.1M
Azos made the cut because it checks every serious-investor box: meaningful round size, a long funding history, and a cap table stacked with real hitters. Kaszek and Kevin Efrusy led this round, while prior rounds brought in Lightrock, Munich Re Ventures, Prosus Ventures, MAYA and Propel—basically a roll call of people who do not wire money out of boredom. This is what maturity looks like in Brazilian insurtech: repeated institutional validation, sector specialization, and enough financing continuity to suggest the company is no longer selling vision alone; it is selling proof.
3) Mevo — Series B, USD 18.2M
Mevo stands out because it combines scale, category relevance and repeat investor conviction in a way the market increasingly rewards. Floating Point led, with Matrix and Prosus on the cap table, and prior rounds show this is not a one-off enthusiasm spike but a multi-stage underwriting of the company’s role in digital healthcare. The detail that catches the eye is the back-to-back Series B cadence after a larger 2024 round: that usually signals a company still pressing the growth pedal while tightening the machine, not a tourist stop on the fundraising highway. Healthtech in LatAm still has plenty of PowerPoint merchants; Mevo looks more like operating infrastructure.
4) Saúde Bliss — Series A, USD 10.9M
Saúde Bliss is one of the sharper ecosystem signals in the file because the round is not just reasonably large for a Series A; it also carries a very revealing investor mix. Banco Bradesco and K Fund led, with Canary, Clocktower and Speedinvest also involved, which gives the deal a useful blend of strategic validation, fintech sensibility and international venture credibility. In plain English: when incumbents and smart VCs both show up, it usually means the company has found a wedge worth respecting. Insurance comparison is not glamorous cocktail-party material, but in Brazil it sits close to distribution, trust and embedded financial services—three places where large outcomes like to hide.
5) shiva — Pre-Seed, USD 10M
Shiva is the month’s most delightfully audacious line item: a pre-seed round of USD 10M led by Monashees, with Endeavor Catalyst participating, for a company described as a community supporting AI entrepreneurs. That sentence alone deserves both curiosity and a raised eyebrow. But that is exactly why it matters. The round is a bet on founder aggregation as an asset class and on AI-native company formation as something bigger than a software product. It may end up brilliant or absurd; the smartest March money seemed comfortable with the possibility that it is both. Either way, when Monashees writes that kind of early check, the ecosystem pays attention.
Honorable mention: BackChannel
BackChannel narrowly missed the top five, but it has one of the strongest “smart money keeps returning” profiles in the file. Its USD 4.75M Series A followed two earlier seed rounds, with Sunna Ventures returning and a broad syndicate including Cathay, Norte, Positive, Preface, Accion and IGNIA-type names orbiting the company. That is not blockbuster-size capital, but it is exactly the kind of repeated institutional validation that often precedes a much louder round later.
My ranking leaned most heavily on four things from your file: absolute round size, repeatability of investor conviction across rounds, quality of the syndicate, and whether the company sits in a category with real ecosystem spillover rather than isolated niche appeal. On that basis, March/2026 looked like a month where the market rewarded businesses with either hard distribution moats or hard narrative momentum—and ideally both.
All deals March/2026
2026-03-31 / Openbox.ai / Seed / USD 5,000,000
Openbox.ai is an online platform for the financial management of small and medium-sized companies.
Lead Investors: Tykhe Ventures
Previous Rounds
2020-09-01 / Venture – Series Unknown
Lead Investors: Darwin Startups
2026-03-26 / BackChannel / Series A / USD 4,750,000
BackChannel is an online B2B platform for inventory transactions and for buying and selling online goods.
Lead Investors: Sunna Ventures / Investors: GNIA, Positive Ventures, Cathay Latam, Preface Ventures, Norte Ventures, Accion Ventures, Savia Ventures and Morro Ventures.
Previous Rounds
2025-11-19 / Seed / USD 4,688,760
Lead Investors: Sunna Ventures / Investors: Accion Ventures, IGNIA, Morro Ventures, Norte Ventures, Positive Ventures, Preface Ventures, Savia Ventures, Seaya Cathay Latam, Sunna Ventures
2024-01-01 / Seed / USD 3,000,000
Lead Investors: Cathay Innovation / Investors: Cathay Innovation, Latitud, Norte Ventures, Positive Ventures, Preface Ventures, Silence VC
2026-03-25 / UnblockPay / Seed / USD 4,500,000
UnblockPay is a stablecoin-native platform that enables businesses to move money globally faster, more simply, and at lower cost
Lead Investors: Prelude Ventures / Investors: Crescera Capital, Plug and Play, Prelude Ventures, Signature Ventures, Triaxis Capital, Wintermute Ventures
2026-03-25 / Mevo / Series B / USD 18,156,104
Mevo is a healthcare platform that provides digital prescription with online purchase option for medicines to be delivered to their homes.
Lead Investors: Floating Point / Investors: Floating Point, Jefferson River Capital, Lyrical Partners, Matrix, Prosus, Veronica Allende Serra
Previous Rounds
2024-09-18 / Series B / USD 20,137,296
Lead Investors: Matrix Partners / Investors: Elliot Cohen, Floating Point, GK Ventures, IKJ Capital, Jefferson River Capital, Matrix Partners, Mercado Libre Fund, Prosus Ventures
2022-07-15 / Series A / USD 8,321,314
Lead Investors: Floating Point / Investors: Floating Point, IKJ Capital
2019-01-01 / Seed
Lead Investors: Eretz.bio
2026-03-24 / Saúde Bliss / Series A / USD 10,894,289
Saúde Bliss is an online health insurance comparison platform.
Lead Investors: Banco Bradesco, K Fund / Investors: Actyus, Banco Bradesco, Canary, Clocktower Technology Ventures, K Fund, Speedinvest
Previous Rounds
2022-02-16 / Seed / USD 1,946,548
Lead Investors: Canary / Investors: Canary, Caravela Capital, Lupa Capital, Speedinvest
2026-03-24 / Hero Seguros / Venture – Series Unknown / USD 6,689,476
Hero Seguros is an Insurance company.
Lead Investors: Headline / Investors: Actyus, Headline
2026-03-24 / Hero Seguros / Secondary Market
Lead Investors: N/A
2026-03-19 / IE Madeira / Corporate Round
IE Madeira is a Brazilian electric power transmission company that operates the country’s longest HVDC line.
Lead Investors: Eletrobras Axia Energia
2026-03-19 / Core AI / Seed / USD 4,100,000
Core AI Simplifies credit with AI-powered tools for SaaS growth through seamless, customized solutions.
Lead Investors: 14B Venture Capital / Investors: 14B Venture Capital, André Street, BFF Ventures, big_bets, Eduardo Pontes, Fersen Lambranho, GP Investments, Nameless Partners, Norte Ventures
2026-03-12 / Nilo Saúde / Series A / USD 2,830,189
SaaS platform for LatAm healthcare payers and providers, that helps acquire, engage and navigate patients using AI and automation.
Lead Investors: Citrino Ventures, 14B / Investors: N/A
Previous Rounds
2022-01-31 / Series A / USD 11,200,000
Lead Investors: Global Founders Capital, Upload Ventures / Investors: Canary, Everywhere Ventures, Global Founders Capital, IKJ Capital, Lupa Capital, MAYA Capital, Tau Ventures, Two Culture Capital, Upload Ventures
2020-04-20 / Pre-Seed / USD 1,700,000
Lead Investors: Canary, MAYA Capital / Investors: 10K Ventures, Canary, Eretz.bio, Fernando Czapski, Grão, Guilherme Bonifacio, IKJ Capital, MAYA Capital
2026-03-11 / Azos / Series C / USD 24,072,719
Azos is an insurtech that offers best in class insurance products in Brazilian market.
Lead Investors: Kaszek, Kevin Efrusy
Previous Rounds
2025-02-19 / Series B / USD 30,500,000
Lead Investors: Lightrock / Investors: Kaszek, Kevin Efrusy, Lightrock, MAYA Capital, Munich Re Ventures, Propel, Prosus Ventures
2022-05-18 / Series A / USD 6,000,000
Lead Investors: Munich Re Ventures / Investors: 4equity – Media Ventures, Airborne Ventures, Kaszek, Lupa Capital, Munich Re, Munich Re Ventures, Prosus
2021-11-30 / Series A / USD 10,000,000
Lead Investors: Prosus Ventures / Investors: Kaszek, MAYA Capital, Propel, Prosus Ventures
2020-10-01 / Seed / USD 2,200,000
Lead Investors: Kaszek / Investors: Kaszek, MAYA Capital, Propel
2020-04-01 / Seed / USD 66,670
Lead Investors: Igor Mascarenhas
2026-03-10 / shiva / Pre-Seed / USD 10,000,000
Shiva is a community that supports tenacious entrepreneurs that use AI to create global businesses.
Lead Investors: MONASHEES / Investors: Endeavor Catalyst, MONASHEES
2026-03-09 / MOVA Protocol / Angel / USD 2,000,000
MOVA Protocol transforms real-world movement into verifiable digital assets and data intelligence.
Lead Investors: N/A
Previous Rounds
2026-02-09 / Seed / USD 3,000,000
Lead Investors: N/A
2026-03-09 / Rocas Tech / Seed / USD 200,000
Rocas Tech provides an educational experience in which students can enjoy digital experiences and acquire knowledge.
Lead Investors: N/A
2026-03-04 / Celero / Series A / USD 2,800,000
Celero provides automation technology to help small and medium businesses manage their finances.
Lead Investors: Headline / Investors: Headline, Visa
Previous Rounds
2024-02-06 / Series A
Lead Investors: Bossa Invest
2023-01-01 / Venture – Series Unknown
Lead Investors: Allievo Capital / Investors: Allievo Capital, KPTL
2020-06-01 / Seed
Lead Investors: Goodz Capital / Investors: Goodz Capital, Honey Island Capital
2018-12-18 / Seed
Lead Investors: Harvard Business School Alumni Angels of Brazil
2026-03-04 / vitrify / Angel / USD 189,487
Data and Monitoring SaaS for Private Credit in Brazil
Lead Investors: Carlos Netto / Investors: Carlos Netto, Daniel Coquieri, João Baptista Peixoto Neto, Olavo Nigel Saptchenko Meyer, Omar Ajame, Paulo David, Vinicius Machado
Previous Rounds
2025-08-30 / Angel / USD 430,000
Lead Investors: N/A
2026-03-04 / Draiven / Seed / USD 300,000
AI that speaks business.
Lead Investors: Asterismus Capital
Previous Rounds
2025-10-21 / Angel / USD 139,537
Lead Investors: N/A
2024-12-01 / Angel / USD 100,000
Lead Investors: Leonardo Araújo Lima / Investors: Leonardo Araújo Lima, Marco Tulio Kehdi, Yann Mora
2026-03-02 / Global Eggs / Private Equity / USD 1,000,000,000
Global Eggs, a privately owned holding group that engages in the production and distribution of eggs.
Lead Investors: Warburg Pincus
2026-03-02 / AMentoria Educação / Angel
AMentoria Educação is a platform for individual studies based on data and active learning systems for ENEM students.
Lead Investors: Anjos do Brasil
Previous Rounds
2022-01-01 / Pre-Seed
Lead Investors: WOW Aceleradora
