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The week in Italian startups - Issue #55

The week in Italian startups - Issue #55
By Niccolò Sanarico • Issue #55 • View online
Hello,
I am Niccolò and this is my digest of what happened last week in Italian startups. Spoiler: not so much.
In this issue: Startupitalia raises 7.3m; Azimut acquires a minority stake in P101; the auction for Bio-On assets goes deserted.
Enjoy the reading, see you on the other side,
N.

The Money
  • Startupitalia, an innovation community / new media startup,🇮🇹raised €4m in a round led by CDP Venture Capital, with the participation of Fondazione di Sardegna, P101, and Primo Ventures. Existing shareholders have the option to invest an additional €3.3m into the company.
  • I usually don’t write much about startups raising crowdfunded capital, but the 🇮🇹 €2.7m round raised by Homepal, a real estate marketplace, at a €19m pre-money, is notable (one of the largest equity crowdfunding campaigns of all time in Italy).
M&A and the rest
  • Azimut, a leading Italian asset manager,🇮🇹 acquired 30% of P101 SGR, a VC firm with €200m AUM. Azimut was of the cornerstone investors in P101’s initial fund, vintage 2013.
  • Open Seed, a pre-seed investor, 🇮🇹 signed a scouting agreement with crowdfunding platform CrowdFundMe. Open Seed itself is raising capital on CrowdFundMe.
Bio-On
I talked about the end of Bio-On back in March. The assets of the biotech company were auctioned on Thursday, for a starting price of €95m. 🇮🇹 The auction went deserted. Minority shareholders announced that they plan to set up a SPAC (appropriately named “Phoenix”) and bid in the next auction.
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, the more candidates will see it. Thank you! 🙏🏻
Ending notes
This week was not a particularly exciting one. If I missed any action please let me know. 😉
Have a great week!
N.
Supported by VC Hub Italiia
Supported by VC Hub Italiia
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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