Covid-19: Coronavirus pushes Latin America’s budding startups into survival mode

Castillo said she is abandoning plans to seek funding this year and is focused on survival. Although Ben & Frank is still doing online sales, Castillo shuttered all 24 stores and put the brakes on three new locations. For startups from Bogota to Mexico City, survival has become the order of the day. — Reuters

MEXICO CITY: The chief executive of Colombian food technology startup Muy had expected to spend the past few weeks gearing up to raise a dollop of fresh funds from venture capital firms for an ambitious expansion plan.

Instead, Jose Calderon was busy shuttering all 40 of the company's restaurants in Mexico and Colombia as the coronavirus outbreak forced lockdowns across the region.