The Week in Italian Startups

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TWIS #141

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TWIS #141

Aryel raised a new round, Panakes raised €175m for its Purple fund, Casavo let go 30% of its workforce, and the EIB put together a €3.75Bn fund-of-funds for European startups.

Niccolò Sanarico
Feb 20
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TWIS #141

dealflowit.niccolosanarico.com

Hello,

Welcome back to The Week in Italian Startups. This is Niccolò from Primo Ventures: every week I publish my curated list of the latest news from the Italian startup ecosystem.

The Money

  • Aryel, an AR startup, raised €3m in a round led by Prana Ventures with the participation of several business angels.

  • ABZero, a drone delivery startup, 🇮🇹raised €200k from business angels and crowdfunding.

  • Aspire, a Singapore-based B2B fintech startup funded by two Italian entrepreneurs raised US$100m in a Series C round.

VC

  • Panakes Partners 🇮🇹announced the final close of its Purple fund, at €175m.

  • CDP Corporate Partners I, a “corporate VC” fund managed by CDP VC, reached €300m§, with the participation of Newlat and Terna as LPs.

  • The European Investment Bank and 5 EU countries announced €3.75bn fund of funds to invest in VCs that back European scaleups.

Troubling signals

  • Casavo announced a 30% reduction in its workforce.

  • The Rock Trading, Italy’s oldest crypto exchange, 🇮🇹suspended trading and withdrawals, in a move that eerily resonates with similar cases in crypto (FTX?).

Reading this week

  • Looking for new tools to solve specific tasks? There’s an AI for that.

  • Crunchbase’s January recap: OpenAI raised a third of all funding in the world.

  • Pitchbook released its European VC Valuations report for 2022.

Fundraising Tracker

Interviews from TechChill Milan 2022

During the last edition of TechChill Milan 2022, Giacomo and I interviewed a few friends. We are now releasing these videos, one per week: please enjoy our conversation with Cavalry Ventures’ Alessandra Mazzilli!

Ending Notes

Giacomo Mollo and I comment weekly on the latest news: 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 week,

N.

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