The Week in Italian Startup discusses and analyzes the latest news from the Italian startup ecosystem. Giacomo Mollo is a former academic in philosophy turned tech investor. He is co-founder and partner of iN3 Ventures, a corporate innovation and VC firm. Niccolò Sanarico is an Oxford MBA and a software engineer with a passion for innovation and startups. He is currently an Investment Manager at Primo Ventures SGR, a venture capital firm based in Italy.
How to build products that people love at scale - A conversation with Giulio Michelon, BELKA
Belka designs and builds successful digital products that people love to use — www.belkadigital.com
Unguess, MgShell, Ener2Crowd, Fatmap, Sidereus, FornoBrisa - February 1, 2023
Unguess, a crowd-testing startup, raised €10m in a round led by FITEC. MgShell, a biotech startup, raised €500k from Bios Line Holding and business angels. Ener2Crowd, a crowdfunding platform for energy projects, raised €1m from business angels. Strava acquired Fatmap, a startup in P101’s portfolio. A profile of Mattia Barbarossa, the 21 years-old founder of Sidereus Space Dynamics. [disclaimer: Primo is an investor in the startup] One of the largest fundraisers in the history of Italian crowdfunding might be that of Forno Brisa, a bakery. They raised €3.4m so far (as I am writing this).
Vedrai: A new hub for AI? Sysdesign, Diamante, Zick Learn, EY VC Barometer 2022 - January 24, 2023
Sysdesign, a robotics startup, raised €3m from Cysero. Diamante, a biotech startup, raised €595k from Arieli Capital and a group of business angels. MindAhead, an Italian/German digital health startup, raised €500k from a syndicate of investors including CDP VC. FlowPay, a fintech startup, raised an undisclosed amount from Credit Agricole and AGOS. Zanichelli Ventures invested an undisclosed amount in Zick Learn's pre-seed round. Zakeke Group acquired Future Fashion for an undisclosed amount. Vedrai completed the acquisition of Premoneo (see issue #74). EY Barometer 2022 - The team at EY published the EY VC Barometer 2022
Yoox 5.2M antitrust fine, Sardexpay, EvenFi, KaraokeOne, Tootor - January 17, 2023
Spiagge.it, an ERP and booking engine for beach resorts, raised €1.4m from Growth Engine and a group of business angels. EvenFi, a peer-to-peer lending platform, raised €2.2m from Pacific Capital Partners. Sardexpay, a credit & payment network, raised €4m and appointed Paolo Galvani as its new president. KaraokeOne, a karaoke startup, raised €1.5m from CDP VC and other investors. Tootor, an edtech startup, raised €800k from Azimut and business angels through a crowdfunding campaign. Canadian company Valsoft Corporation acquired FuturaSI, the developer of a vertical ERP solution. Manet, a travel tech startup, acquired Edgar, another travel tech player. Chiesi Farmaceutici and Amrit approved an M&A transaction where the former would pay $1.48B to acquire the latter. Back in December Nextalia acquired IBF Servizi, a precision farming company, for €50m. Habyt and Common announced a merger. The Italian antitrust authority fined Yoox-Net-a-porter €5.2m.
Are Banks Becoming Service Platforms? Banca Valsabbina, Credimi, Onyon, Eggtronic - January 9, 2023
Nyp Techfin, a fintech startup, raised an undisclosed amount from Banca Valsabbina. Satispay acquired a controlling stake in Onyon, a restaurant payments startup, for an undisclosed amount. Unicredit offered €20m to acquire Credimi. An analysis based on Crunchbase data of the startups created in 2022 (vs 2021), by sector. The 50 Italian startups that are participating at CES. Young Platform launched its service in France after it secured an operating license from the French financial markets authority.
2B in Italian Startups, Jobtech, Blubrake, Up2You, Fondo Italiano AgriFood - December 13, 2022
Jobtech, a recruiting tech startup, 🇮🇹raised €6m in a round led by Oltre Impact and participated by Lumen Ventures. Académia.tv, a cooking video courses platform, 🇮🇹raised €1.3m from a syndicate of business angels. Didimora, a proptech startup, 🇮🇹raised €1m from StarTIP and Lio Factory. DoctorApp, a health-tech startup, 🇮🇹raised €400k from Zungri Capital. Blubrake, developer of an ABS brake for e-bikes, raised €10m in a venture debt round from the EIB. Campari, LVMH’s Moët Hennessy acquired 100% of Tannico. Aidexa, a neo-bank, signed a deal with Poste Italiane to distribute fast digital loans to Poste’s SME customer base. Credimi is 🇮🇹looking for acquirers, after a reportedly rough 2022. Terna, the Italian company managing the energy grid, 🇮🇹launched Terna forward, a €50m corporate VC program. Up2You, a green tech startup, 🇮🇹raised €3.5m from CDP VC and Azimut Digitech. Moneyfarm acquired Profile Pensions and hits £3bn in assets Fondo Italiano di Investimento 🇮🇹announced the first closing of a €130m food and agritech fund. The Italian Ministry of University 🇮🇹announced a new cybersecurity research center, funded with €116m from the RRP.