Carey Olsen advises AI assistant startup Zapia on US$7 million funding round
Carey Olsen has advised AI assistant startup Zapia on securing a US$7 million seed extension, led by Prosus Ventures.
Founded in 2023, Zapia is an AI assistant that automates and completes everyday tasks for users, including setting reminders, transcribing voice notes, managing schedules and booking reservations.
Zapia will use the funds to launch Zapia Max – an enhanced version of its AI assistant that has the capacity to autonomously navigate websites and apps, compare prices, track subscriptions, book flights and respond to emails. This early-stage investment marks Prosus Ventures' second investment in the company, bringing its total funding to US$19.3 million to date.
The Carey Olsen Cayman Islands corporate team advising Zapia comprised partner Trevor McCabe and senior associate Evan Stitt, alongside lead onshore counsel WilmerHale.
Trevor McCabe commented: "Securing a second backing from one of the world's largest technology investors is a milestone achievement for Zapia, signalling strong endorsement of Zapia Max amid recent policy shifts from Meta. The transaction also marks another win for Carey Olsen's corporate team in the Cayman Islands, who have significant expertise advising on major venture capital rounds for innovative technology startups established in Latin America."
Zapia's primary market is Latin America, where, in addition to Uruguay, it currently serves more than six million users across Argentina, Brazil, Colombia, Mexico and Peru.
Prosus Venture is the global capital arm of Prosus N.V., which invests in early and growth-stage technology startups across the world.
