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Amid SPAC Rout, Brazil’s Semantix Ready to Put Money to Work

  • Company announced purchase of Zetta Health Analytics
  • Semantix has seen shares sink 60% since the IPO amid tech rout
Leonardo Santos, founder and CEO of Brazil’s deep-tech company Semantix Inc.
Leonardo Santos, founder and CEO of Brazil’s deep-tech company Semantix Inc.Source: Semantix Inc.

Brazilian data software provider Semantix Inc. has seen its shares sink 60% since going public in early August after completing a merger with Alpha Capital, a special purpose acquisition company, amid a slump in the tech industry.

But with the $127 million that it raised in the process, it’s eyeing more acquisitions, looking to grow headcount and open a new office in the US in anticipation of a rebound for the beaten down sector, chief executive officer Leonardo Santos and board member Rafael Steinhauser said in an interview.