Apr 19, 2021

The week in Italian startups - Issue #52

By Niccolò Sanarico • Issue #52 • View online

Hi,

I am Niccolò and this is my digest of what happened last week in Italian startups.

In this issue: new funds for Keyless, Multiply Labs, GreenBone Ortho, Babaco, and others; DiaSorin to acquire Luminex Corporation in the USA; RGI Group acquired Flexperto in Germany; Zucchetti and IBM acquired Beaconforce and myInvenio in Italy, respectively; European startups had a great Q1.

Enjoy the reading, see you on the other side,

The Money

Keyless, a London and Rome-based biometric authentication startup, announced a $3m investment from existing investors (including P101 and Primomiglio). The company also announced partnerships with leading IAM vendors.
US-based Multiply Labs, a robotics company developing automated manufacturing systems for the production of individualized drugs, raised $20m in a series A round participated by Casdin Capital, Lux Capital, Pathfinder, and others. Multiply Labs, a former YC alumnus, was founded by Federico Parietti and Alice Melocchi.
Greenbone Ortho, a medtech startup developing innovative bone regeneration technologies, raised €10m in a Series B round from existing investors, including 3B Future Health Fund, Innogest, Meta Group, IAG, and others.
Babaco, a Milan-based e-groceries startup offering “ugly but good” products, 🇮🇹is closing a €2m round from a syndicate of angels.
Smartpricing, a startup offering revenue-management software to the hospitality sector, 🇮🇹 raised €1m in an equity and debt round led by Trentino Sviluppo.
INTA Systems, a biotech startup developing a lab-on-chip specific for brain injuries, 🇮🇹 raised €350k from Eureka! and A11 Ventures.
Wall Street Football, a sport-tech / fintech startup,🇮🇹 raised €540k in an angel round.

M&A

Not exactly startup news, but still remarkable: DiaSorin [DIA.MI] is acquiring Luminex Corporation [LMNX] for approximately USD 1.8 Billion.
RGI Group, an Ivrea-based digital transformation company for the insurance sector, acquired Flexperto, a German software provider for digital B2C communication and collaboration. Price undisclosed.
Zucchetti 🇮🇹 acquired a controlling stake in Beaconforce, a workforce feedback & analysis startup.
IBM announced the acquisition of MyInvenio, a process mining software company based in Reggio Emilia. Price undisclosed.

European VC had its greatest quarter ever

Good news for European VC: European startups raised the highest capital ever during Q1 2021. According to the article about Q1 in Italy from last week, our country kept pace with the rest of the EU.

Up & to the right

Jobs in Italian startups

You can explore 🔍 open positions here: we had a few additions since last week.
Add new open positions using this form 📥

Ending notes

Last week I announced my fatherhood, and my inbox has been literally flooded by love messages. Thank you all. Sleep deprivation is still under control, in case you are wondering. But, let me say it, mum is the real superhero. 😎

Have a great week!

Supported by VCHub Italia

Did you enjoy this issue?

By 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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This newsletter is supported by VCHub, the association of Italian Venture Capital, investors in innovation, startups, and innovative SMEs.

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