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The Week In Italian Startups - Issue #134
Planet Farms, Eggtronic, Fiscozen, Kippy, and others raised funding. New funds from P101 and CDP. Eligo went public. Oh, and happy new year, everyone! 🤩🥳
This is Niccolò from Primo Ventures. Every week I publish what’s going on in the Italian startup ecosystem.
New year, new platform: after Revue’s demise, I moved to Substack. I will experiment a bit: content, structure, look&feel may change in the coming weeks, so bear with me.
Now on with the news from the last couple of weeks: 2022 ended with a bunch of interesting rounds, a small IPO, and a couple of new funds announced. The year was the best so far for Italian startups in terms of fundraising (exits, not yet), but don’t forget that we still have a long way to go before entering the same league as our European peers.
Let’s see if this year we can do better! 💪🏻
Happy new year to all of you!
IAG invested in Neurobrave, an Israeli mental wellness startup.
P101 announced the first closing at €150m of P103, its newest fund.
SIMEST and CDP VC 🇮🇹joined forces. The former will commit €50m in direct co-investments with the latter; an additional €150m from SIMEST will be managed by CDP in a new fund aimed at attracting international investors to Italy.
Intesa San Paolo and Digital Magics announced a joint venture to invest €15m in fintech / insuretech / proptech startups, with an average ticket of €250k.
YOLO 🇮🇹announced the acquisition of 51% of AllianceInsay Broker Spa, an insurance broker, for €1.1m.
Reading during the holidays
78 new startups from the EU were accepted into the EIC Accelerator. Congrats to the 5 Italian companies selected for the program!
Bank of Italy 🇮🇹is worried about BNPL.
Unicredit was among the investors in the latest round raised by Casavo, announced back in July. Curious about why they announced it now 🤔.
This fundraising tracker is updated weekly based on the news published in this newsletter. Excluding pure debt investments, equity and quasi-equity rounds touched €1.8b.
The newsletter runs on a brand new platform, but Giacomo Mollo and I will continue commenting on the latest news every week: subscribe to our podcast on YouTube, Spotify, Apple Podcast, and other platforms to get additional insights on what is happening in the Italian ecosystem.
Have a great 2023,
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