Equipment rental startup Allugg raises $774.4K in seed funding
Sao Paulo, Brazil — Sao Paulo-based company Allugg has secured funding of BRL 4 million (US$774.4 thousand) to boost its operations.
The contribution will allow the startup to triple the number of rental contracts and client companies.
CESAR, a research and innovation center, as well as angel investors Rodrigo Helcer, CEO of Stilingue, and Carlos Boschetti, former CEO of BCP Claro, participated in the seed round.
“Our main focus was precisely CESAR’s ability to develop technology. We know that the market is difficult to hire a whole team, so we seek the support of those who already have this technological know-how to leverage our solution”, said Felipe Rabaçal, one of the founders of Allugg.
The CESAR team will be in charge of the technological development of the company’s platform.
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