The week in Italian startups - Issue #126
The week in Italian startups - Issue #126
The Money
Last week we had only one round raised by an Italian startup. But fear not! Italian entrepreneurs abroad are keeping up the 🇮🇹 flag:
Out Of, a skying equipment startup, 🇮🇹raised €712k in a round syndicated by In3 Ventures.
Klink Finance, a London-based crypto-fintech startup, 🇮🇹raised €500k in a pre-seed round led by Blockchain Founders Fund and participated by StartupGym.
Axelera AI, an Eindhoven-based AI acceleration platform, raised $27m in a Series A round.
TherapyChat, a Spanish online therapy startup, 🇮🇹raised €6.5m in a round participated by Mediaset Italia and Mediaset España.
M&A and IPOs
Brandon Group 🇮🇹acquired Asd, a french competitor.
I am a little late to this one: Tatatu, a social media + crypto startup, went public on 19/10/2022 via a direct listing on the Euronext Growth market. The reference price was set at €2 per share, for a €1.6B market cap. Last Friday, the price was €9,80, for an €8.1B market cap.
Helbiz announced a merger with Wheels.
Cy4Gate 🇮🇹signed a preliminary acquisition agreement to acquire 55% of Diateam, a French company, for €5.5m.
New funds
CDP VC 🇮🇹announced an investment fund dedicated to startups launched in the Tuscany region. The fund will have €30m in dry powder.
CDP VC also 🇮🇹announced a new tech transfer hub, Extend, in partnership with Evotec SE and Angelini Ventures.
Oltre III, an impact fund, 🇮🇹announced the third closing at €72m. The goal is to reach €100m by next year.
Reading this week
Matt Levine's The Crypto Story.
Fundraising tracker
The fundraising tracker is updated weekly based on the news published in this newsletter.
Ending Notes
Giacomo Mollo and I comment on the latest news every week: subscribe to our podcast on Spotify, Apple Podcast, and other platforms to get additional insights on what is happening in the Italian ecosystem.
Have a great week,
N.