Granollers fell victim to Slovak Martin Klizan 6-4, 6-3 in second-round play.
Klizan's quarterfinals opponent will be wild-card Bellucci, who fought past Austrian Andreas Haider-Maurer 7-6 (7-4), 5-7, 6-3. Bellucci earned a second-place finish at the Sao Paulo event in 2009.
Also moving on was fourth-seeded Juan Monaco, who overcame Spain's Albert Ramos 7-6 (7-4), 2-6, 7-5.
Next up for the Argentine is Italian Paolo Lorenzi, winner of a 6-4, 6-3 decision over Brazilian qualifier Rogerio Dutra Silva.