The week in Italian startups - Issue #33
Heroes [cb], a company acquiring and scaling local brands selling on Amazon, raised $65M in an equity-and-debt round, with the participation of investors 360Capital [cb], Fuel Venture [cb], and Upper90 [cb].
White Libra, the developer of a collaborative platform aimed at supporting modern organizational processes, 🇮🇹raised €1.2M from a syndicate of investors including Intesa Sanpaolo (a leading Italian bank) and business angels.
Qapla' [cb], a shipping aggregator + tracking provider for eCommerce, raised €950K in a syndicate round including Italian Angels for Growth [cb], CDP Venture Capital [cb], Doorway, MoffuLabs [cb] and others.
Fresh capital for Italian startups
CDP Venture Capital 🇮🇹 announced a new fund, Boost Innovation, to invest in startups alongside Italian corporations, in a sort of CVC "enabler". The fund will start with €50M under management. Lorenzo Franchini will be the fund managing partner.
A new Cybersecurity Foundation
The Italian government 🇮🇹 approved the creation of a new foundation. the "Istituto Italiano di Cybersicurezza (IIC)", to promote the research, development, and adoption of cybersecurity technologies and frameworks in both government and industry. The government allocated a budget of €210M from 2021 to 2024.
Reading this week
Startup Genome published its latest Global Startup Ecosystem report. You can download it from here.
Key takeaways (page 14):
The global startup economy creates $3 trillion in value 🤯
7 out of the top 10 largest companies in the world are in technology ⌨️
in 2019 VCs invested close to $300 billion across the world 💰
But only 14.1% of founders are female 👩🏻..
Italy is almost not on the map, except for Milan and Rome that are named among the emerging ecosystems. We are still hitting well below our weight, but this demonstrates a big opportunity to grow.💪🏻
This is the end for this week.