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The week in Italian startups - Issue #59

The week in Italian startups - Issue #59
By Niccolò Sanarico • Issue #59 • View online
Hello,
I am Niccolò and this is my digest of what happened last week in Italian startups.
In this issue: new funding rounds for Miscusi, Endostart, Dog Heroes, and others; lots of m&a events: Etsy acquires Depop, plus other acquisitions announced by SECO, Dedalus, Golee; the Italian innovation and culture hub; eCommerce in 2020 and 2021.
Enjoy the reading, see you on the other side,
N.

The Money
Liquidity Events
  • Etsy acquired P2P social shopping app Depop for $1.6bn, mostly in cash. Depop was first launched in Italy in 2011, incubated by H-Farm, before moving to the UK a year later. The Italian origin of Depop, which has no operations in Italy, spurred a debate on national social networks between those cheering for an “Italian success” and those commenting there is not much Italy in Depop (not even investors, excluding H-Farm and not considering that Balderton’s partner in charge of the deal was in fact Roberto Bonazinga).
  • SECO [IOT.MI], a company specialized in IoT that in May listed its stock on the Italian Stock Exchange, announced the acquisition of US-based Oro Networks, an AI-solutions company. Terms undisclosed.
  • Advice Group, a martech company, 🇮🇹 announced the acquisition of Leevia, a platform to organize online contests. Terms undisclosed.
  • Golee, a startup developing a management platform for sports clubs, 🇮🇹 announced the acquisition of Ticket Trust, an e-ticketing startup.
  • 🇮🇹Dedalus Group, a healthcare software solutions provider, acquired 🇩🇪Dosing GmbH, a provider of digitized Software-as-a-Service (SaaS) medication safety solutions.
  • CVC is acquiring a majority stake in Italy’s consultancy firm BIP from Apax Partners. The deal values the company €720m.
  • The consolidation of the Italian banking and insurance market continues: Generali is bidding to acquire Cattolica with a €1.17Bn offer.
Italian eCommerce
The Osservatorio eCommerce B2c Netcomm published its latest report about the Italian eCommerce, reporting a whopping +45% growth in 2020 (reaching 9% of total retail sales) and expecting a +18% growth in 2021, reaching €30bn in GMV.
Italy lands in Silicon Valley
The Italian Foreign Minister 🇮🇹 announced the opening of the first Italian Innovation and Culture Hub (Iich), which will be based in North Beach, San Francisco.
Jobs in Italian startups
  • You can explore 🔍 open positions here. Feel free to share the link with your contacts.
  • You are welcome to add new open positions using this form 📥 . Or, forward the link 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
The Enea Tech story is still evolving. Many in the Italian startup scene are not giving up on the government’s decision to overhaul the mission of the Foundation (see issue #57). 🇮🇹 A group prepared an open letter and a petition to the Italian government, with the goal to preserve at least a portion of the capital for the Foundation’s original mission. You can signup for the petition from the link above.
That’s it for this issue, enjoy your week!
Stay safe,
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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