TWIS #157

AAvantgarde Bio, ISAAC, Freedome, and others raised funding. An acquisition for Vection Technologies. Deep Blue Ventures, a new deeptech fund.

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

• AAvantgarde Bio, a biotech startup, 🇮🇹raised €61m in a round participated by Atlas Venture, Forbion, and Longwood.

• ISAAC, a building integrity startup, 🇮🇹raised €5m in a round led by CDP VC.

• Freedome, an outdoor experiences startup, 🇮🇹raised €2.5m in a round led by Opes Italia.

• Repron Therapeutics, a biotech startup, 🇮🇹raised €2m in a round led by Claris Ventures.

• Flying Basket, a UAV startup, 🇮🇹raised €2m from Cysero. Also, Leonardo SpA acquired 10% of the company from the founders.

• Eligo raised €998k from BRB Holding S.r.l.

• Mundimoto, a Spanish startup selling second-hand motorcycles, 🇮🇹raised €10m and is planning to enter the Italian market.

M&A

• Vection Technologies announced the acquisition of InVRsion.

New funds

• Deep Ocean Capital 🇮🇹announced Deep Blue Ventures, a seed/early-stage fund focused on deep tech (space, AI, health). The fund starts operations with €40.8m in committed capital, and the goal of raising €70m.

• CDP 🇮🇹announced Galaxia, an aerospace incubator and tech transfer hub.

Reading this week

• Italian Tech Alliance 🇮🇹published a study on LPs in Italian VC funds. According to the survey, Italian VCs have €1.1Bn in dry powder available.

• An 🇮🇹interview with Marco Trombetti, founder of Translated.

• Italian developers’ productivity went down after Italy “banned” ChatGPT.

Fundraising Tracker

Ending Notes

Giacomo Mollo and I comment weekly on the latest news: subscribe to our podcast on YouTube, Spotify, Apple Podcast, Amazon Music, and other platforms to get additional insights on what is happening in the Italian ecosystem.

Have a great week,

N.