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.
This issue is supported by AWS for Startups
The Money 💰
Aptadir Therapeutics, a biotech startup, raised €40m in a Seed round from 4BIO Capital, Extend, CDP Venture Capital, Indaco Venture Partners, XGEN Venture, CE-Ventures, Angelini Ventures, Kerna Ventures, Italian Angels for Biotech, and Club degli Investitori.
Underdogs Group, a buy-and-build startup in the martech segment, 🇮🇹raised €20m in a Growth round from Nextalia Investment Management, and Nextalia Ventures.
Complaion, a reg-tech startup, raised €13.5m in a Growth round from Eurazeo, Italian Founders Fund, Shapers, 2100 Ventures, K-Fund, Sella Direct Ventures, Enzo Ventures, Vento, Ithaca, Eden Ventures, and Vesper.
ANote Music, a music royalties startup, 🇮🇹raised €2m in a Early-stage round from Seventure Partners, and ScaleFund.
Computis, an AI-powered accounting startup, 🇮🇹raised €2m in a Pre-seed round from Techshop Capital, Heartfelt, Zanichelli Venture, Vento, Alecla7, Alpha Ventures, Moonstone, and P3Ventures.
Qsensato, a quantum-sensors startup, raised €1m in a Early-stage round from Quantonation, Deep Ocean Capital.
TENDER, a logistics startup, 🇮🇹raised €708k in a Early-stage round from StyleIT, Regis Motors, and private investors.
Billding, a utility cost management platform, 🇮🇹raised €530k in a Early-stage round from Alberto Dalmasso, Dario Brignone, Daniele Ratti, Giuliano Messina, Alberto Mazzetti, Umberto Lentini, Alessandro Cillario, and Michelangelo Bottesini.
New funds💫
Eureka! Venture 🇮🇹announced a new deep-tech fund.
Reading this week 📚
D-Orbit: a triple mission in a single launch for the first time | StartupBusiness.
A16Z’s state of market report.
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!
Startup Events in Italy🎪
Keep an eye on the upcoming events in the Italian ecosystem. Feel free to add an event through this form.
New this week:
Fundraising Tracker 📈
Q3 at a glance
Strong performance in the third quarter (>€400m announced in 46 deals). Exein is the big outlier here (€234m raised):
September was the strongest month this year, by both funds raised and number of rounds:
Exein was the only deal from Q3 appearing in the top 10 deals chart for 2026 (at position #1).
Ending Notes📝
Don’t forget to check out the TWIS dashboard for the latest updates.
If you want to know more about sponsoring TWIS (and/or the podcast episodes), read some info here and send me a note!
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.
N.
