TWIS #233
Bikeflip, Onepix Academy, Viola raised funding. New climatech fund from Algebris. Exit for Tate. the EY Venture Capital Barometer 2024 is out.
Hello,
Welcome back to The Week in Italian Startups. This is Niccolò from Primo Capital: every week, I publish my curated list of the latest news from the Italian startup ecosystem.
The Money 💰
Bikeflip, a bike ecommerce, 🇮🇹raised €1.6m from undisclosed investors.
Onepix Academy, a chatbot startup, raised €500k from Edizioni Simone.
Viola, a personal safety startup, 🇮🇹raised €428k from a syndicate of business angels.
Liquid Factory 🇮🇹announced the first 4 entrepreneurs accepted in the program - each of them will receive €200k from Banco Popolare di Sondrio.
The Money, abroad 🇮🇹🌎
Vet services platform Lupa raised $4M Seed.
Lingotto Investment Management 🇮🇹led a €120m Series B round in Neura Robotics.
New funds💫
Algebris 🇮🇹launched Algebris Climatech, with €60m in initial commitment and a target at €100m.
M&A 🥩
ENI Plenitude 🇮🇹acquired Tate.
Ambienta platform company Namirial acquired Digital Technologies.
Impresoft 🇮🇹acquired Blulink.
EY Venture Capital Barometer 2024
EY’s Venture Capital Barometer is usually the first of the main publications about the Italian VC scene to see the light. This year is no different.
EY reports a slight growth in capital raised (€1.127b, +7.5% over 2023), mainly in the Health & Life Science, Software & Digital Services, Technology & IoT, Fintech.
Very few late-stage deals (12) attracted more than half the capital (€596m).
Geographically, Lombardy (€693m) and (a distant second) Tuscany (€108m) attracted the most capital.
Reading this week📚
12 companies selected for Elevator | Endeavor Italy (congrats to portfolio companies WithLess and Cubbit!).
Introducing Colosseum 355B, our new LLM | iGenius.
Investments in data centers in Italy 🇮🇹are expected to grow to €10b by 2025-26.
Intesa San Paolo 🇮🇹purchased 11 bitcoins out of its balance sheet.
🇮🇹Mistakes to avoid when hiring in scaleups | Claudio Erba on EconomyUp.
🇮🇹Paving the way from the garage to the venture | P101’s Andrea Di Camillo.
State of Startups 2024 | Carta.
Founder Compensation Guide | Creandum
🌟Jobs in Italian Startups🌟
If you want to share or more job positions relevant to the Italian ecosystem, fill out this form. Looking for a new job? Check out this link!
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Startup Events in Italy🎪
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Latest events added:
Fundraising Tracker 📈
My tracker agrees with the overall numbers reported by EY, even though my totals are a bit lower:
The tracker will be back in a few weeks 😃 head over to the dashboard to get a first look at 2025 and review the best of 2024.
Ending Notes📝
Don’t forget to check out 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.