TWIS #159
TWIS #159
Ermes Cyber security, Colossus, Muscope, and others raised funding. Compass acquired HeidiPay. Azimut is planning two new VC funds.
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
Ermes Cyber Security, a browser security startup, raised €3m in a Series A round led by Sinergia Venture Fund.
Finapp, a deep-tech startup, received a €3m grant from EIC, the European Innovation Council. Only another Italian project was selected (here’s the list).
Muscope, a cybersecurity startup, raised €800k from Primo Ventures and Klecha & Co.
Elephants, a Swiss/Italian luxury watches tokenization startup, 🇮🇹raised CHF 500k.
IH1, an investment holding, 🇮🇹invested €100k each in Deeva and Pelo Matto, and €1m in Mamazen, a startup studio.
M&A
Compass, a consumer credit company, 🇮🇹acquired Swiss-based BNPL startup HeidiPay for an undisclosed amount.
IPO & public markets
IMD, a medtech company, 🇮🇹plans to go public to the Euronext Growth Milan.
New funds
Canova SGR was recently founded and is 🇮🇹getting ready to launch Nova I, its first VC fund.
Azimut announced a pan-European VC strategy, 🇮🇹announcing two new funds.
Reading this week
Stanford University published a study analyzing the compliance of foundation AI models with the Draft EU AI Act.
ENEL, Planven, and Nozomi Networks launched the "Cyber Harbour", a laboratory to promote innovation, share best practices, and raise awareness around the importance of cybersecurity.
Mistral.ai strategic memo.
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.