2024 Predictions from the WIND Ventures Investment Team
By WIND Ventures
In 2023, venture capital investment remained flat due to economic uncertainty and the oversupply of existing money. In contrast, WIND Ventures was as active as ever. We saw innovative new startups and scaleups emerge in the mobility, energy, and retail sectors, and we expanded our portfolio into exciting areas. In 2023, we made several new investments, including ClearFlame Engine Technologies, SOURCE Global, and Galgo. We also reinforced our commitments to Omnidian, Grabango, 75F, Yotta Energy, and Chiper. In addition, we announced the hiring of María Gracia Lagos Soza, Francisco Larrondo, and Mark Dryden, bringing the team to five as we furthered our mission to provide visionary global founders unparalleled access and market expansion to the attractive Latin America region.
As we begin 2024, we remain excited about the breakthroughs we are seeing in our three focus areas. Although we can’t change the past, we can reshape the future. That’s why we believe it’s important to look at what we foresee for 2024. Here are a few of our predictions for the year ahead.
2024 Predictions
We will see increased climate-tech investing around train, plane, automobile, and mining supply chains.
Eight-sector supply chains are responsible for more than 50 percent of global emissions and time is running out to decarbonize them all. In 2024, investors will be vital in helping companies implement net-zero supply chains.
2024 will turn dirt into gold.
Simply cleaning industrial and commercial HVAC systems can impact energy efficiency and reduce carbon emissions. The ROI is substantial and simpler than what even sophisticated building automation solutions can achieve.
Shortcomings related to the first wave of shared EV charger infrastructure will be revealed.
With EV adoption entering hyper-growth in the U.S., a second wave of newer, better shared EV charging solutions will emerge that support the needs of the growing fleet of individual and commercial EV drivers.
Metals supply chains will see new disruptions.
The metals industry faces continued challenges from limited new supply as new mines take decades to develop. Companies entering the limelight will influence demand with new chemistries like sodium ion for stationary storage, boost supply with quickly implemented and more efficient extraction technologies, and increase circularity through second-life reuse and materials recycling.
The grid’s fragility will become more exposed.
Following the incredible growth of renewables, there could be grid outages due to a climate-change-driven hurricane or fire. A rush will follow for consumer solutions like microgrids, and utilities will have to get serious about grid resiliency through long-duration energy storage or low-carbon backup generation options.
Amazon will launch an AI-powered search.
Generative AI technologies like ChatGPT and Microsoft Bing have revolutionized online search. Expect e-commerce giants like Amazon to integrate generative AI into their search bars soon, allowing shoppers to shop, get inspiration, and discover answers to day-to-day questions.
2024 will be the year of live commerce.
Live commerce, where influencers are live-streamed selling products over a social media platform, will proliferate in the coming year, especially as retailers look to reach more Gen Z customers. Recently, tech giants such as TikTok and Amazon have started live commerce businesses, and live commerce startups like WhatNot have reached unicorn status.
Autonomous checkout will go mainstream.
In 2024, customers can simply grab a product and leave the store. Payment will be charged automatically via computer-vision-powered cameras. While numerous startups in autonomous checkout have popped up over the years, only those with accurate, fast, and unintrusive tech remain. We’ll see big contracts from the biggest brands this year.
Generative AI will turbocharge small merchants in online marketplaces.
One of the most significant barriers for small merchants selling in online marketplaces is developing compelling product listings. Generative AI allows any seller to generate superior written and image content for their product listings quickly and effortlessly. The new technology will transform online marketplaces and enable small merchants to better compete with larger sellers.
Single-use plastics will finally start to be replaced by biodegradable plastics made of natural components.
Sustainable packaging technologies continue to scale, making 2024 the beginning of the end of the single-use plastic era that causes so much harm to the environment.
About WIND Ventures:
WIND Ventures is based in San Francisco and serves as the strategic venture capital arm of Copec, one of the leading energy, mobility, and retail companies in Central and South America. Copec is also one of the most valued brands throughout Latin America. WIND Ventures leverages Copec’s significant resources to accelerate growth, primarily within Latin America, for startups and scaleups across the world within the new mobility, energy, and retail sectors.
