I am Niccolò and this is my digest of what happened last week in Italian startups.
In this issue: new rounds for Poke House, Cosaporto, PharmaPrime, and others; Red Circle invests in vertical farms; SECO goes public; new funds announced by Vertis and Primo Ventures; Europe VS Artificial Intelligence.
Enjoy the reading, see you on the other side,
N.
The Money
Red Circle (Renzo Rosso’s investment vehicle) invested in Planet Farms, a vertical farming operator managing Europe’s largest vertical farm. Amount undisclosed.
Poke House, a food startup specializing in poke, raised €20m in a round led by Eulero Capital. FG2 capital and existing investor Milano Investment Partners joined the round.
Cosaporto, a gourmet groceries and food delivery startup,🇮🇹raised €2m in a round led by Innova Venture.
CDP Venture Capital co-invested with e-Novia in three deep-tech startups incubated by the latter: Weart (VR), Wahu (wearables) ed Existo (wearable robotics).
Surge, a collaborative data management startup based on the blockchain, raised an undisclosed amount from Gellify and Azimut Digitech Fund.
M&A and IPOs
SECO, an Industrial IOT company, is listing its shares on the Italian Stock Exchange. The company expects to float 37.773m shares with a price range between €3.30 and €4.15 per share (valueing the company between €264.6m and €332.8m).
🇮🇹 Primomiglio SGR rebranded itself as Primo Ventures and announced its third fund, Primo Digital, with the goal to raise €80m. (disclosure: I am a member of the investment team @ Primo Ventures).
In case you missed it, Europe is drafting new regulations related to AI, trying to ban or limit its use in edge cases (e.g. surveillance). Here the European Commission website with all the details. I welcome the goal of protecting the rights of European citizens, but I am also worried that the EU might end up creating more red tape, hindering innovation, failing to protect people so much. We’ll see.
Jobs in Italian startups
You can explore 🔍 open positions here. Feel free to share the link with your contacts.
Add new open positions using this form 📥 forward this to your CEO or HR person - the more open positions, the more relevant the list, the more it will travel across the web. Thank you! 🙏🏻
Ending notes
Cubbit, a distributed and privacy-oriented cloud storage startup (and one of Primo Ventures portfolio companies), is offering a discount on its cells that 🇮🇹 I am happy to share. The company also pledged to donate to The Ocean Cleanup for each cell purchased through the link above. 🐳
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 the Italian Tech Alliance (https://www.italiantechalliance.com/).
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