Itaú Unibanco acquired 100% of Brazilian artificial intelligence startup NeoSpace for R$2.92 billion. NeoSpace builds AI models that process different types of data. The deal was announced on October 26, 2026.
Transaction terms
The purchase was made entirely in cash. NeoSpace will continue to operate independently with Bruno Pierobon as CEO. Itaú previously led a US$18 million investment in the startup in early 2025.
Company background
NeoSpace was founded in late 2023 by Pierobon, Felipe Almeida, Gustavo Debs, and Thiago Teixeira. The same founders created Zup, which Itaú acquired in 2019. NeoSpace already serves clients in telecom, aviation, and energy.
What NeoSpace builds
NeoSpace develops Large Data Models that analyze documents and other information formats. Companies can use the technology to build and train models with their own data. Itaú already applies the startup's models through its i.ai generative AI platform.
Itaú plans to extend i.ai access to all individual superapp users by the end of 2026. NeoSpace is opening an office in the United States. The startup was also in advanced negotiations with two U.S. prospects and one European prospect.