TWIS #208
Avaneidi, Brandplane, Recuperiamo, and others raised funding. The state of Italian Climate Tech.
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 💰
Avaneidi, a cybersecurity startup, announced an €8m Series A funding round from United Ventures.
Brandplane, an AI-driven marketing startup, 🇮🇹raised 460k from StyleIT, CDP VC, and business angels.
Recuperiamo, a circular economy startup, 🇮🇹raised 460k from SICI Sgr, Impact Hub, XEquity Venture Club, and other business angels.
Hubique, a proptech startup, 🇮🇹raised an undisclosed amount from Apside.
Spill, a ready-to-drink-cocktails startup, 🇮🇹raised an undisclosed round from Vesper Holdings and other business angels.
Talking about ready-to-drink cocktails… Also Mixum, another startup in the market, 🇮🇹raised an undisclosed round from Avvio Capital, Archimede Capital Partners, and other investors.
Soplaya, a foodtech startup, 🇮🇹raised a new undisclosed round from Linfa, Finint Investments, and Kostanza Investments.
The Money, but abroad 💰🌎
SPAC Stuff
London / Milan / New York-based Xtribe agreed to go public through a business combination with WinVer Acquisition Corp.
M&A 🥩
Reading this week 📚
Number of active VCs in Europe falls more than 50% (Pitchbook).
State of the Italian Cleantech Ecosystem (Cleantech for Italy).
Investments in Italian startups 🇮🇹halved in H1 2024 vs H1 2023 (StartupItalia / Bebeez).
The 2023 of an angel investor - with full numbers disclosure! (Simone Cimminelli).
The Italian Business Angel market: the 2023 statistics (Ilaria Cavalleri).
🇮🇹SEO and content marketing in the era of AI (Repubblica).
An 🇮🇹interview with Andrea Colombo, CEO of Cortilia (ItaliaOggi).
An 🇮🇹interview with Andrea Carmignani, CEO of Keyless (AffariItaliani).
🌟Jobs in Italian Startups🌟
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Startup Events in Italy🎪
Keep an eye on the upcoming events in the Italian ecosystem1. Feel free to add an event through this form.
Fundraising Tracker 📈
StartupItalia reported a bleak scenario for Italian startups (see the link in the readings section). Indeed, once we exclude the two exceptional cases (Bending Spoons, MMI) from the series, the numbers do appear much less impressive: as I reported last week, Q2 is closing as the worst quarter since 2022.
Yet, I remain cautiously optimist for 2024:
We haven't included iGenius yet, as their round is still open.
There are several undisclosed rounds (look at this week!).
Eight of the top ten rounds in 2023 were announced in the second half of the year.
Given this low starting point, only a few Series Bs or Cs could significantly influence the total.
Check out the full tracker in real time on the TWIS dashboard!
Ending Notes📝
Don’t forget to look at the TWIS dashboard for the latest updates.
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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.