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The week in Italian startups - Issue #81

The week in Italian startups - Issue #81
By Niccolò Sanarico • Issue #81 • View online
I am Niccolò from Primo Ventures. Welcome back to my digest of the latest news from the Italian startup ecosystem.
In this issue: Wetacoo, Aryel, Algor, and others raise funding. Epsilon Bio was acquired by Chroma, Keyless was acquired by Sift, Alira Health acquired PatchAI, and more M&A. CDP Venture Capital launches Tech4Planet. Oltre Impact launches Oltre III.
Enjoy the reading,

The Money
  • Wetacoo, an integrated logistics solution, 🇮🇹 raised €750k in a round led by LVenture and Lazio Innova.
  • Aryel, an augmented reality startup, raised €250k.
  • Algor, the developer of an AI solution to create conceptual maps from long text, 🇮🇹 raised €180k from Club degli Investitori.
  • Pinv, a cash flow management startup, 🇮🇹 raised an undisclosed amount from Fabrick and LVenture.
  • Gellify invested an undisclosed amount in Miraitek4.0, a spinoff from the Politecnico of Milano.
Liquidity Events
  • Epsilen Bio, a Milan-based biotech startup that raised seed funding from Sofinnova, was acquired by Chroma Medicine, a startup developing epigenetic editing tools that just raised a USD 125m series A.
  • Sift, a company developing digital trust & safety solutions, announced the acquisition of Keyless, a passwordless and multi-factor authentication provider. Keyless had raised capital from several business angels and investors, including LA4G, Primo Ventures, and P101. Price undisclosed.
  • Alira Health acquired PatchAI, a smart patient engagement platform.
  • Dedalus Group, a healthcare and diagnostic software provider, acquired Swiftqueue Technologies.
  • Epi acquired Calcioshop, a sports merchandise e-shop.
  • Lutech Group 🇮🇹announced the acquisition of Advantage srl, a company specializing in digital transformation projects in the manufacturing sector. Price undisclosed.
  • Tikehau acquired 25% of Mint, a madtech company.
  • CDP Venture Capital is launching a second technology transfer center following RoboIT (see issue #58), this time focused on sustainable economy, clean energy, and circular economy. The hub will be named Tech4Planet and will be based on a collaboration with some of the major Italian polytechnics (Milano, Torino, Bari). CDP is setting aside €55m to finance the project, which is aiming to raise up to €130m.
A new impact fund
Oltre Impact SGR 🇮🇹announced the first closing of Oltre III, its third fund, at €53m.
Italian Tech Alliance
VC Hub 🇮🇹 rebranded as Italian Tech Alliance and expanded its board of directors with 3 new members from the Italian startup ecosystem.
Ending Notes
Join the Twitter Spaces conversation between Giacomo Mollo and myself commenting on the latest news, every Monday at 6:30 pm CET (follow us for a live reminder: Nico / Jack). If you miss the live discussion, you can subscribe to the podcast on SpotifyApple Podcast, and other podcast platforms.
Have a great week,
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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