TWIS #178

Nouscom, Planet Farms, Xnext, Nextsense, and others raised funding. Nextalia announced a new VC fund. +Simple acquired Crea.

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

• Nouscom, a clinical-stage immuno-oncology company, raised €67.5 million ($72 million) in an oversubscribed Series C financing round. The funding was led by Andera Partners, Bpifrance, and M Ventures, with participation from Revelation Partners, Indaco Venture Partners, Panakès Partners, XGen Ventures, and other undisclosed investors.

• Planet Farms, an Italian company specializing in controlled environment agriculture, 🇮🇹raised $40m in funding.

• Xnext, an Italian startup developing X-ray inspection technologies, 🇮🇹raised a venture debt loan of €20m from the European Investment Bank (EIB).

• Nextsense, an innovative SME of the P&P Patents and Technologies group, raised €3m in a financing round by Angelini Ventures.

• CarpeCarbon, an Italian startup focusing on CO2 removal from the atmosphere, 🇮🇹raised a pre-seed funding round of €1.765m. The round was led by Tech4Planet and 360 Capital.

• ReLearn, a Turin-based startup specializing in waste management, 🇮🇹raised a funding round of €1m. The investment was led by Cdp Venture Capital sgr, along with participation from LA4G - Luiss Alumni 4 Growth, Club degli Investitori, LVenture Group, Feel Venture, and Sensible Capital.

New Funds

• Nextalia 🇮🇹announced a new VC fund (paywall).

M&A

• +Simple, the French multinational digital insurance brokerage, 🇮🇹acquired Italian insurtech Crea Assicurazioni.

• Anima Holding 🇮🇹acquired Kairos Partners SGR for €20-25m.

• DGS 🇮🇹acquired Core Sistemi.

• WeBravo 🇮🇹acquired CheBuoni.

Reading this week

• Kyutai is a French AI research lab with a $330 million budget that will make everything open source. Meanwhile, the OpenAI board ousted Sam Altman in a sudden and unexpected public announcement. And, within 24 hours, they were discussing to re-instate him. 🤯

• AI, the coming revolution (from Coatue).

• 2023: The State of Generative AI in the Enterprise (from Menlo Ventures).

• State of the OpenCloud (from Battery Ventures).

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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.

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