With the beginning of October, we have officially entered the last quarter of 2023, so it’s time to take stock of the Italian venture capital scene and see if it has also experienced strong slowdowns in the recent period. Growth Capital and the Italian Tech Alliance have provided a snapshot of the third quarter with the seventh edition of the Quarterly Observatory on Venture Capital in Italy: after a drastic decline at the end of 2022, the amount raised in Italy has progressively increased, with investments exceeding 300 million euros from 65 investment rounds, highlighting a more pronounced growth trend compared to Europe, although still below the levels of the same period in the previous year. A positive surprise was the funding amount, which increased by 14%, from 265 million in the second quarter to 302 million in Q3, and a +23% compared to the average of the past five years. It seems that for now, the venture capital sector in Italy has managed to avoid the initial cold, continuing to grow despite the absence of mega-deals. Let’s take a closer look at the October deals, with a particular focus on Made in Italy and digital transformation.
- Intesa Sanpaolo
The Italian bank, which has made innovation one of its main pillars in its 2022-2025 Business Plan, has decided to invest in SpaceX, the American aerospace startup of Elon Musk. The American company is globally known as the only private company capable of launching a spacecraft into orbit and succesfully bringing it back to Earth. - Qaplà
The software developed in Italy that simplifies and enhances the management of eCommerce shipments has secured a 5 million euro investment in a Series A round. The new resources will be used to continue its process of internationalization in Europe, which begun three years ago: the next targets are Germany and the United Kingdom. - Test1
One of the most innovative companies in the clean tech sector has closed a capital funding of 1.7 million euros. The new funds will be used to continue the development of FoamFlex, the patented sponge capable of absorbing hydrocarbons spilled at sea and in surface waters, and to expand into new markets. The startup’s main goal is to reduce the carbon footprint of productive activities through sustainable deeptech solutions to protect the marine ecosystem. - Vaultik
The fintech startup active in the development of solutions for the protection of luxury goods has announced the completion of a 2.5 million dollar round, led by The Operating Group. The young company uses blockchain-based digital platforms to generate digital safes, connecting consumers to luxury products in real-time. - ArteOlio
The Tuscan agricultural company that produces extra virgin olive oil has closed its third investment round, with the support of Intesa Sanpaolo, Banca Tema, and ChiantiBanca, with a funding of 7 million euros. The goal is to support the development of over 700 hectares of olive groves in Tuscany for the marketing of high-quality oil, produced with innovative and sustainable techniques, and to expand the project to enhance this Made in Italy excellence.
