The week in Italian startups - Issue #59
Pets will receive their fair share of fresh food: Dog Heroes, a startup producing and delivering fresh food for dogs, 🇮🇹raised a €1m round, partly in a crowdfunding campaign and partly by a syndicate of investors.
Banca Etica, an Italian bank focused on ethical finance, announced its decision to invest €250k in SardexPay, a commercial credit startup, joining the crowdfunding campaign currently underway. (disclaimer: SardexPay is part of Primo Ventures' portfolio).
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).
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.
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! 🙏🏻
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!