In an unprecedented move, one of the companies participating in Ruta N’s Medellín Next programme has closed a Series C investment round with international funds totalling 129 million dollars – a form of financing typically reserved for mature and well-established technology companies.
Four international funds provided backing to the company to accelerate clean energy projects in Colombia and expand its growth potential.
The company in question is Erco Energía, where investors contributed capital in exchange for an equity stake in the company, making this the largest funding round in the history of a Medellín startup and the largest (of the so-called equity type) in Colombia so far in 2026.
“We are proud to have been part of this journey through various programs and initiatives from the District and Ruta N, such as Medellín Next. This achievement sends a very powerful message: today, Medellín is experiencing one of its best moments for technology-based entrepreneurship and venture capital investment,” said Ruta N Director Carolina Londoño.
The company has bolstered its growth with the support of District programs such as Medellín Next by Ruta N.
Next Utility Ventures, from Spain (with EPM as its main investor); Augment Infrastructure and Endeavor Catalyst, from the United States; and Norfund, from Norway, were the funds that participated in the transaction, whose resources enhance the company’s capacity to develop and build clean energy projects in different regions of the country and drive the expansion of its portfolio. In addition to capital, the new partners bring expertise in infrastructure financing and new developments, which strengthens the company’s ability to execute larger-scale initiatives.
“The transaction reaffirms the organization’s mission to be a vehicle for energy growth and prosperity in Colombia, a country with enormous energy potential. With these investments, the company will be able to continue building infrastructure, sustainability, and growth for the country and its people,” explained Erco’s Chief Financial Officer, Luis Fernando Gómez.
The District supports technology-based companies through strategies such as Medellín Next, which has supported more than 100 entrepreneurs in the past year; the StartIA platform, which includes more than 700 ecosystem participants; as well as Capital Semilla and Ruta del Emprendimiento, which have provided specialized support to businesses and benefited 1,201 people.
Additionally, the support provided by the Medellín and Metropolitan Area Cooperation and Investment Agency (ACI) has been essential to these types of initiatives. In recent years, the agency has certified foreign investments in the energy sector totaling nearly $10.8 million, which have created 34 direct jobs. This momentum is further amplified in a region that hosts energy sector assets totaling nearly $20 billion and generates 46% of Colombia’s energy.
This transaction also demonstrates that the talent and technology-based companies established in the District have the capacity to attract global investment, drive strategic industries, and turn innovation into an engine of economic development, employment, and opportunities for the people.
