When talking about venture capital and Italy, Milan immediately comes to one’s mind, yet it’s not just the city of Milan, but Lombardy in general that attracts founders and young entrepreneurs from all over the boot, offering a widespread network of accelerators and incubators and a network of very active investors. Currently, over 25% of innovative companies nationwide are based in Lombardy, and with the region’s new investments, it is presumed that this percentage could increase. In recent days, as part of a package of eight measures to support entrepreneurs, the Region of Lombardy has planned a €72 million investment plan for startups. Guido Guidesi, Economic Development Assessor of Lombardy Region, detailed these measures. Two measures of particular importance in this package are the establishment of the Lombardy Venture Fund, worth €40 million, and the refinancing of the Microcredit program with a budget of €24 million.
However, if you look closely, it will soon become clear that the entire Italian territory is full of young people ready to change the future of the market and the planet by developing interesting startups from north to south. Let’s take a look at some startups that stood out in November.
The Turin-based startup engaged in waste management and solutions utilizing gaming and artificial intelligence to manage and reduce waste production closed a €1 million investment round. The new funds will be used to finance the Nando app, ReLearn’s new project that acts as a digital bin capable of recognizing and automatically sorting waste.
The Italian company listed and active in the renewable business, and Agri-Light Energy Systems Ltd, an innovative startup that has patented the Smart Agri-PV technology for energy production, have entered into a partnership for the development of new agrivoltaic systems in Italy. The goal is to leverage the technology devised by the Israeli startup for the dual use of land, optimizing both electricity generation and cultivation.
The new Italian fintech that brings a suite of smart payment solutions, including the Buy Now Pay Later formula for essential expenses, to physical stores, raised €34.5 million from Fasanara Capital, in the form of equity and credit line, one of the most significant pre-Seed rounds in Italy in the tech sector.
The immuno-oncology company developing personalized anti-tumor vaccines based on viral vectors has completed a €67.5 million Series C financing round. The new funds will be used to expand the clinical project line, with a focus on the treatment of metastatic colorectal cancer and tumors carrying Lynch syndrome.
The Italian startup active in controlled environment agriculture, already distributing salads and pesto in the country, has received a new capital injection of $40 million. The newly raised capital will be used to expand into the United Kingdom, opening a facility north of London, and better establishing itself in Italy, completing a plant in Cirimido (Como).
