The Week in Italian Startup

Cardo AI, a fintech startup, announced a $15m Series A funding co-led by Blackstone, FINTOP Capital and JAM FINTOP.Eye2Drive, a startup developing imaging sensors for the automotive sector, 🇮🇹raised €1.5m from RoboIT, Pariter Partners, Motor Valley Accelerator, and Toscana Next.Discentis, an edtech startup, 🇮🇹raised €250k from Social Fare and La Lucerna.Outdoora, a “SocialARTvertising” startup, 🇮🇹raised an undisclosed amount from LMDV Capital.Accudire, an e-CMR startup, 🇮🇹raised an undisclosed amount from Circle Group and Zucchetti.Meanwhile, in the US Kong secured $175m new financing at $2B valuation to power the API world 👏🏻👏🏻👏🏻.And, finally, Bending Spoons is working on a new €42m equity round.News from the technology private equity market: Quadrivio Group announced a new Artificial Intelligence PE Fund, in partnership with Microsoft, while 21Invest announced 21 Invest Healthcare, a PE fund focused on innovative products in the healthtech sector.CDP VC launched CrossConnect, its latest accelerator, focused on startups offering products in the infrastructure sector.FS Group 🇮🇹announced an agreement worth €5m with several players in the ecosystem to support its innovation efforts.Teamsystem 🇮🇹acquired Muscope Cybersecurity.

Resalis Therapeutics raised an undisclosed amount from Sanofi.

D-Orbit, a spacetech company, 🇮🇹announced the completion of the Series C from December 2023. The company raised a total of €150m in the round.Genespire, a biotech company, raised €46.6m in a round co-led by Sofinnova Partners, XGEN Venture and CDP Venture Capital forming a strong syndicate with Indaco SGR.JetHR, a HR-tech startup, raised €12m in a round led by Picus Capital. Existing investors Exor, IFF, and 2100 participated in the round, alongside notable business angels.Kleecks, a martech startup, 🇮🇹raised €6.5m in a round co-led by Blacksheep and Axon.Vitesy, a consumer hardware startup focusing on food waste, raised €4m from CDP VC and Mediaset.Mela Works, an ERP for the construction industry, 🇮🇹raised €2.4m from CDP VC and Terna Forward.TrueScreen, a cybersecurity startup, raised €2.4m from Cysero.Aptadir Therapeutics, a biotech startup, raised $1.6m in pre-seed funding from EXTEND.Data Masters, an AI-focused tech academy, 🇮🇹raised €1.15m in a round led by Primo Ventures and participated by Zanichelli Venture and business angels.Xbooks, a cryptotax startup, raised €1m from Primo Ventures.Mapo Tapo, a traveltech startup, raised €1.15m in debt and equity from Zest, VeniSia, business angels, and others.Sestre, a woman’s wellness startup, 🇮🇹raised €400k from TerraNext and the Fund for Female Entrepreneurship run by the Italian Ministry of Industry.Raffaele Terrone’s new startup, UK-based Desia, raised $3.3m in a pre-seed round led by Dig Ventures.ZCube 🇮🇹led a CAD$2m round in Canada-based Hyivy Health, a femtech startup.Mito Tech Ventures, a new fund focused on net-zero transition, announced its first closing at €55m.Kyip Capital 🇮🇹announced Kyip Impact Mission, a new PE impact fund, with a first closing of €30m.The Lazio region 🇮🇹announced a new investment program in direct and fund-of-funds investments for a total of €75m.

BizAway, a traveltech company, raised €35m from Mayfair Equity Partners.

Intrauma, a developer of orthopedic medical devices, raised €10m from FITEC II.Renewcast, a renewable energy forecasting startup, raised €2m from CDP VC and South Western Power Group.Treeblock, a corporate sustainability startup, 🇮🇹raised €500k from business angels.Syllog.ai, am AI-powered corporate learning startup, 🇮🇹raised an undisclosed amount from 40jemz and Techaround VC.Dronus, a drones startup, raised an undisclosed amount from Eni Next, a corporate VC.Speaking of Eni Next, they co-led a $30m investment in Mantel, a Boston-based carbon capture startup.Novameat, a Barcelona-based foodtech startup co-founded by 🇮🇹Giuseppe Scionti, raised a €17.4M oversubscribed Series A round led by Sofinnova Partners and Forbion.Panakes Partners co-led a €44m series B round in CorFlow Therapeutics AG.The EIB and LIFTT agreed to create a new investment vehicle, where they will invest €50m each, focused on Italian companies operating in sectors including life sciences, cybersecurity, deeptech, cleantech.Una Terra 🇮🇹launched a new investment fund raising a target of €200m. CDP VC and Fondation Prince Albert II de Monaco are among the first subscribers.CDP launched Maritime Ventures, a new venture builder in collaboration with Cariplo Factory, focused on nautical and port logistics tech.

SkillVue, an AI-based HR-tech startup, raised €2.5m in a round led by Italian Founders Fund and 14peaks.Involve Space, a space-tech startup, raised €2.5m in a round led by Earlybird.IdentifAi, a Milan-based startup developing a technology to identify AI fakes, raised €2.2m in a round led by United Ventures.Pelomatto, a home grooming service for four-legged friends, 🇮🇹raised €430k in an angel round.Events.com to go public on NYSE through Business Combination with Concord Acquisition Corp. II.Vection Technologies acquired The Digital Box in an all-shares transaction valueing the latter AUD$12m.Oakley-backed 7NXT acquired online fitness platform Buddyfit.