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The week in Italian startups - Issue #107

The week in Italian startups - Issue #107
By Niccolò Sanarico • Issue #107 • View online
Hello,
I am Niccolò from Primo Ventures. Welcome back to my digest of the latest news from the Italian startup ecosystem.
Last week was short due to national holidays, but there was juicy news: Kryptomon, Buddyfit, Tulips, Reiwa Engine, and others raised funding. Develhope acquired Uniwhere, BeMyEye acquired Metaliquid, and Nexi continues on its acquisition spree.
Enjoy the reading,
N.

The Money
  • Kryptomon, a Netherlands-based blockchain gaming startup founded by Umberto Canessa, raised $10m from NFX.
  • Buddyfit, a home-fitness startup, 🇮🇹raised €10m in a round led by Azimut Digitech, Gellify, and various family offices and business angels.
  • Tulips, an e-groceries market based on dark stores, 🇮🇹raised €3m in the first week of its crowdfunding campaign. I usually do not cover crowdfunding, but this round is worth talking about because of its size and because it comes soon after Gorillas announced cutting its presence in Italy.
  • Glickon, an HR-tech startup, 🇮🇹raised €3m from Sinergia Venture Fund.
  • Reiwa Engine, a robotics startup that developed a tool to clean solar panels, 🇮🇹raised €2m from Cysero.
  • Awhy, a virtual assistant startup, 🇮🇹raised €200k from NetResults.
  • Exor Seeds and Sequoia Capital led a $25m round in Upway, a refurbished electric bike startup.
M&A
Reading this week
  • 🇮🇹Research from P101 and Bebeez shows how Italian-related startups raised 5.1 Bn between 2016 and 2021. Almost half of it was raised from foreign-based companies.
  • Tiger Global’s troublesome May in public and private markets.
  • Bitpanda registers as Virtual Asset Services Provider with the Organismo Agenti e Mediatori (OAM).
  • VC threatened social media war against startup after faking investment deal.
  • Setting the stage for success at seed-stage board meetings.
Fundraising tracker
Every week, I am posting a fundraising tracker based on the news I publish.
Recent job positions from XJobs
About XJobs:
  • The XJobs platform is a free portal listing open job positions from the Italian startup ecosystem, managed by CDP Venture Capital. If you desire, you can apply for free and have your job positions posted on the platform by following this link.
Ending Notes
Join the conversation between Giacomo Mollo and myself commenting on the latest news, every Monday at 7:00 pm CET (follow us on Twitter for a live reminder and the link: Nico / Jack). If you miss the live discussion, you can subscribe to our podcast on SpotifyApple Podcast, and other podcast platforms.
Have a great week,
N.
Did you enjoy this issue?
Niccolò Sanarico

The week in Italian startups is a weekly collection of the most interesting news in the Italian startup ecosystem, with a focus on funding rounds, milestones, major partnerships, and innovation news. The weekly email will be in your inbox on Monday morning(-ish).

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