TWIS #144
Newronica and Billoo raised capital. Azimut launched ALICrowd III, while Scalapay acquired a payment institution. Cube Labs plans its IPO. Digital Magics and LVentures plan a merger.
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
Newronica, a neural devices startup, received a €2.5m grant from EIC.
Billoo, a price comparison service for utilities, 🇮🇹raised €1m from business angels.
New funds & accelerators
Not exactly a new fund in Italy, but UK-based Exceptional Ventures (founded by Paolo Pio) 🇮🇹will be hosting a couple of events on the 15th and 16th in Turin and Milan to present their fund and look for startups in the health and wellness sector.
Azimut is 🇮🇹raising its third ALICrowd fund, with a target of €40m, on its very own crowdfunding platform (Mamacrowd). ALICrowd II raised +€31m🤑 exactly one year ago.
dPixel, a venture advisor and accelerator, 🇮🇹announced AG 4 Future Food Accelerator.
M&A, IPO, and other liquidity events
Scalapay acquired Cabel IP for an undisclosed amount.
Credimi 🇮🇹will allegedly be acquired by Banca CF+ for €5m, plus an additional €5m earnout.
Cube Labs, a health-tech venture builder, 🇮🇹is working on a listing on the Euronext Growth Milan (professional segment) and aiming for a pre-money valuation north of €30m.
Digital Magics and LVenture Group, two big players in the startup acceleration and seed investment market in Italy, 🇮🇹are working on a merger.
Nutribees was acquired by SecondChef.
CDP VC takes stock of its accelerators’ master project
🇮🇹In brief:
180 partners
200 startups accelerated so far
18 active programs
€135m mobilized
Not too shabby.
Reading this week
Silicon Valley Bank went under - what’s gonna happen next?
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: finally, enjoy our conversation with Andrea Orlando, managing partner of Startup Wise Guys Italy:
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.