TWIS #220
xFarm Technologies, AIKO, WithLess, and others raised funding. MyTheresa is acquiring YNAP. Brembo acquired Ohlins.
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 💰
xFarm Technologies raised €36m in a round led by Partech, with Mouro Capital and existing investors Swisscom Ventures and United Ventures participating.
AIKO, a space-tech startup, raised €3.5m from Deep Blue Ventures and Primo Ventures.
WithLess, a software management startup, raised €3m in a seed round led by Primo Ventures and participated by Apside, Zest, B-Heroes, and other angel investors.
Composite Research, an innovative materials startup, raised €1m from LIFTT.
WembraneX, a startup developing a solution for water purification, 🇮🇹raised 350k from Progress Tech Transfer fund.
Lymphatica Medtech, a Swiss-based medtech startup, 🇮🇹raised €17.9m in a Series B round participated by Panakes Partners, TechWald Holding, CDP VC, and other investors.
M&A 🥩
MyTheresa and Richemont signed an agreement for Mytheresa to acquire YOOX NET-A-PORTER (“YNAP”) to create leading, global, multi-brand digital luxury group in exchange for a 33% equity stake in Mytheresa
Brembo acquired Ohlins for €370m.
Reading this week📚
Impresoft and Competitoor 🇮🇹entered into a commercial partnership.
PausePay and VISA 🇮🇹entered into a partnership. The startup is also opening a €1m round.
Endeavor Italy opened applications for the next batch of its Elevator program.
Alexandr Wang on building a successful company.
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Have a great week,
N.