The week in Italian startups - Issue #56
The Money
Breadcrumbs.io, a US-based revenue acceleration startup founded by Armando Biondi and Massimo Chieruzzi, raised $5.4m in a round led by Blue Canyon and participated by Active Capital, Primo Ventures, Hustle Fund, Stormbreaker, and several angel investors. (disclaimer: I am a member of Primo Ventures investment team).
X-Next, an advanced X-ray systems startup, 🇮🇹raised €5m from Neva SGR, Intesa San Paolo's venture arm.
CRIF, a financial services company, 🇮🇹 invested an aggregate of €1m in 5 startups, accelerated by G-Force, an accelerator program run by Fondazione Golinelli. The startups are Bit&Coffee, Criptalia, Fintastico, Biofarm, and Latitudo 40.
Ridemovi, a bike-sharing startup, raised capital from Generali, an insurance company. Amount undisclosed.
M&A
Tannico, an e-commerce for wine, announced the acquisition of French competitor venteàlapropriété. Tannico raised €32m from existing shareholders to support the acquisition. Last year the company sold a 49% stake to Campari (see issue #12).
Zucchetti announced the acquisition of MGconsulting, an HR company managing the web portal lavorofacile.it.
Swiss private equity Guru Capital announced the acquisition of Oval Money, a fintech startup. 🇮🇹 According to a letter sent to shareholders by the founders, the proceeds of the sale will not be enough to pay back equity holders.
Edison, an Italian energy company, is considering selling 40% of its renewable energy generation arm. The company 🇮🇹 has recently sold its gas distribution unit, in an effort to dismiss non-core businesses and focus on strategic assets.
Google vs Italian antitrust
Alphabet was fined €102m by the Italian antitrust for limiting an Enel-x application on Android auto.
Readings this week
Symbola, ENEL, and Farmindustria released 100 Italian Life Sciences Stories, a paper reviewing the main Italian organizations operating in the life sciences sector in Italy. The research includes a handy map including over 300 organizations.
Roberto Bonazinga writes about "revenues or no revenues? This is the question".
A post by the team at Samaipata presents a cheat sheet about key metrics to track for marketplaces.
Nauta Capital published a report about open-source startups in Europe. I love the topic. Too bad I could spot only one Italian startup in their mapping (SIGHUP) - is there no one else working on an OSS-based startup in Italy?
Jobs in CDP network
CDP Venture Capital released XJobs, a job board aggregating open positions from all the startups in the CDP ecosystem.
Jobs in Italian startups
You can explore 🔍 open positions here. Feel free to share the link with your contacts.
Whether you are or not in the CDP ecosystem, 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
Jobs in Italian Startups is only a month old, and it already has a well-funded direct competitor. I should have asked myself "What if CDP does the same?". 😆
Just kidding: the more support for our entrepreneurs, the better. 😉
Have a great week,
N.
