Italian venture capital market: the updated statistics

The Italian early stage segment (seed, start-up and scale-up stages) registered a modest growth in 2019.

According to the report produced by P101 and BeBeez, start-ups and scale-ups based in Italy or founded by Italians (and based abroad) announced fundraising rounds for € 605,6 million in 2019, including equity, debt and grants (€ 550,6 million considering only equity).

These rounds involved 244 companies participated by institutional investors, which have raised together more than € 850 million since the beginning of their operations.  

In 2018, 179 Italian start-ups and scale-ups raised € 510 million (€ 480 million considering equity only). For more info, read: Italian venture capital investments are (finally) increasing: the market in 2018

The report considers all venture capital operators, including funds and equity crowdfunding rounds.

For more info on the crowdfunding market, read: Italian crowdfunding: the 2019 statistics of CrowdfundingBuzz

The report highlights that 31 companies announced rounds of more than 3 million in 2019, raising in total approx. € 491 million; among these, 10 companies announced rounds of more than 10 million, raising in total € 343 million.

List of rounds of more than € 10 million

CompanyActivityInvestors
2019 Round
Amount
2019 Round
CasavoReal estate instant buyingGreenoaks Capital, International Venture Debt Fund, Project A Ventures, Picus Capital, 360 Capital Partners, Kervis Asset Management, Boost Heroes, Marco Pescarmona, Rancilio Cube50 million
Depop (UK-based)Social shoppingGeneral Atlantic, HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap, Sebastian Siemiatkowski, Red Circle Investments e Lumar62 million
Soldo (Irish-based)Prepaid company cards & automated expensesBattery Ventures, Dawn Capital, Silicon Valley Bank, Connect Ventures, Accel, InReach Ventures, U-Start e R204 Partner and private investors61 million
Talent GardenNetworking & digital trainingStarTIP srl (TIP spa), Angelini, D’Amico, Dompè, Drago, Foglia, Ginatta, Holland, Luti, Monti, Pittini, Rovati, Indaco Ventures, Club degli Investitori, BeConsulting, Social Capital, Digital Magics, 500Startups, Endeavor Catalyst44 million
TrueLayer (UK-based)Open banking softwareTencent Holdings e Temasek, Northzone, Connect Ventures e Anthemis35 million
brumbrumCar e-commerceAccel, Bonsai Venture Capital, e.ventures, United Ventures20 million
UalaSaloon beauty networkImmobiliare.it, Club Italia Investimenti 215 million
FreedaMediaAlven, U-Start, Endeavor Catalys and Unicredit minibond (€ 2,5 million)15 million
Genenta ScienceBiotechQianzhan Investment Management, Fidim, Bromioli family, Fumagalli family, club deal Banca Esperia’s private clients, business angels13 million,
20 million
Pillo HealthSmart health and wellness solutionsStanley Black & Decker, Samsung Ventures, BioAdvance, Hikma Ventures, Hackensack Meridien Health System’s Innovation Center Fund and Civilization Ventures11 million

On the exit side, some important divestment are: the acquisition of Viralize by Vetrya SPA, the acquisition of Neutrino by Coinbase, the exit of H-Farm from the Depop.

In the first half of 2020, the Italian Venture Capital market unsurprisingly suffered from the Covid-19 impact. According to the first statistics published by ScaleIT, the capital raised by Italian start-ups in H1 2020 was 23% lower compared to H1 2019 (€ 240 million in H1 2020 compared to € 313 in H1 2019).

The figures reflect a drop in both mega-rounds (-32%) and in the capital invested by international operators (-32%; € 74 million in H1 2020 compared to € 109 million in H1 2019).

Let’s see how the rest of the year goes…


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You can find the P101-BeBeez 2019 Report (in Italian) at the following link: https://bebeez.it/files/2020/08/P101-report-venture-capital-2019-completo_def.pdf