Italy is one of the most travelled destinations in Europe. It also houses one of the continent's most exciting and rapidly growing startup ecosystems. Italian startups benefit from active involvement from both the public and private sectors. The main startup hub of the country is Milan, with Rome coming in a close second. Due to its attractive location, Italian startups can benefit greatly from foreign talent, as well as leveraging local excellence in certain markets such as Automobiles and Food to generate innovative startups.
Italy currently has a strong host of Venture Capital firms, with more than 250 of them investing into Italian startups. Furthermore, early-stage startups in Italy get access to funding and mentorship at the beginning from one of more than 50 incubators and accelerators. As the Italian startup ecosystem continues to grow and more, the number of active VC firms and accelerators has also steadily increased. As available funding continues to grow, more startups will be able to bring their concepts to fruition.
The Italian government has recognised the importance of having a strong startup ecosystem and being proactive in supporting it. This government support takes multiple forms, for example, the government offers interest-free loans to new, innovative startups in the STEM subjects. Additionally, the Italian government has set up a specific startup Visa to promote entrepreneurs and skilled workers from abroad to become active in the Italian startup economy, which will accelerate the growth of the ecosystem. Although there are arguments that regulatory reforms are needed to further accelerate the ecosystem's growth.
1. Jet HR
Year Founded: 2023
HQ: Milan, Italy
Size: 11-50
Founders: Francesco Scalambrino, Marco Ogliengo
Jet HR is an Italian startup that was founded in 2023 and is currently headquartered in Milan. Managing and paying your staff can be a tedious task, but Jet HR makes it much easier. The SaaS platform allows you to easily track your staff and make payments to them, as well as automating the bureaucracy of onboarding a new employee. You can also track how much your employees are costing your business, which is a useful metric for tracking sales staff. Managing your team's hours, time off and expenses are also kept in-platform.
Jet HR has seen almost immediate success with generating startup funding since it was founded. During a pre-Seed round in June 2023, it managed to raise a total of 4.7 Million Euros. The funding has been used to rapidly accelerate the development of Jet HR, with new hires and further expansion into its current market.
2. Resalis Therapeutics
Year Founded: 2021
HQ: Torino, Italy
Size: 1-10
Founders: Riccardo Panella
Resalis Therapeutics is a startup in Italy that was founded in 2021 and is currently headquartered in Torino. If you're currently struggling with a metabolic disorder, Resalis Therapeutics is attempting to leverage the power of non-coding RNAs to provide effective and safe treatments to treat those types of conditions. Its current leading research is conducted on RES-010 and is aimed towards managing and treating obesity, MASH and MAFLD. Initial research has shown great promise, which explains the following interest in Resalis from investors.
Resalis Therapeutics has achieved great recent success with startup funding, as it was able to close out a Series A round in January 2024. During this round, it managed to raise a total of 10 Million Euros. This funding will, of course, be used to further research into non-coding RNAs and expand current practical applications for treating metabolic issues.
3. Vedrai
Year Founded: 2020
HQ: Milan, Italy
Size: 51-100
Founders: Michele Grazioli.
Vedrai is an Italian startup that was founded in 2020 and is currently based in Milan. These AI experts are the ones to help you when you need to make critical business decisions fast and based on the latest data. This SaaS platform utilises AI to generate a probability analysis for decision-making, along with risk assessment automation, sensitivity analysis and more. This is the ideal solution for your SMB, if you want a strategic direction that is truly driven by data and is more likely to lead you to making the correct decisions.
Vedrai has achieved a great amount in terms of raising startup funding with a total of 40 Million Euros being raised during a funding round in 2022, after previously raising 5 Million Euros in 2021. If Vedrai decides to pursue further funding, it will likely be to fuel further growth and allow for aggressive expansion into new markets for its SaaS platform.
4. WeRoad
Year Founded: 2017
HQ: Milan, Italy
Size: 101-250
Founders: Erika De Santi, Fabio Bin, and Paola De Nadai
WeRoad is a startup in Italy that was founded in 2017 and is currently headquartered in Milan. If you're between the ages of 20-40 and you're looking to experience the world in a new, intimate way then WeRoad is for you. It offers experiences for hundreds of destinations across the world in small groups, so you can have new adventures and make some new friends along the way. All of these experiences are also reasonably priced, meaning it doesn't break the bank
WeRoad has been growing rapidly and its startup funding reflects this. During November 2023, WeRoad managed to secure a further 18 Million Euros in funding from a range of investors. This funding has allowed it to further expand its presence across Europe, having enjoyed considerable success in the British, Spanish and Italian markets and rollouts in France and Germany before this funding was achieved.
5. Chiron Energy
Year Founded: 2020
HQ: Milan, Italy
Size: 11-50
Founders: Paolo Pesaresi
Chiron Energy is an Italian startup that was founded in 2020 and is currently headquartered in Milan. If you want to save the planet with affordable and renewable energy, with care taken for further environmental and visual impacts on the landscape, then you should be backing Chiron Energy. It develops and builds both the plants and the infrastructure to facilitate renewable energy generation in the greenfield and brownfield markets, by acquiring your existing plant and infrastructure, before modernising it.
Chiron has been active in raising funding to further its operations, with a round of funding being closed out in January 2024, when it raised 12.5 Million Euros in Debt Financing from Credit Agricole. This follows previous funding rounds that took place in 2023 and 2022 for significant sums. This funding has been used to further fuel the acquisition of old plants and the creation of new plants and infrastructure to handle the extra load on power grids.
6. Bun
Year Founded: 2019
HQ: Milan, Italy
Size: 101-250
Founders: Danilo Gasparrini
Bun is an Italian startup that was founded in 2019 and is currently headquartered in Milan. It operates as a chain of restaurants across Italy that serve healthy and delicious burgers. The catch is that the burgers you're eating taste great, but they're made from plant-based sources. This is fantastic if you're an animal lover, or just really care about the environmental impact of farming. You can have loads of traditional burger bar food in tasty vegan alternatives.
Despite the number of chains that Bun operates and its fast levels of growth, it has not yet publicly received any external startup funding. If Bun intends to expand into other countries and pursue further aggressive growth, then it is likely that we will see a funding round, for a significant sum.
7. Atlante
Year Founded: 2021
HQ: Milan, Italy
Size: 51-100
Founders: Natasha Linhart, Federico Nanni
Atlante is an Italian startup that was founded in 2021 and is currently based in Milan. If you own an electric vehicle, then you know finding charging points is one of the biggest problems. With Atlante, you won't have a problem charging anywhere in Southern Europe, as it is currently building the largest fast and ultra-fast networks in the region, with more than 1800 currently online and 35,000 planned by 2030. Atlante is powering the EV revolution in Southern Europe.
Alante has received significant support for its ambitions to build its massive EV charging network, with a significant round of funding announced in September 2023. During this round, Atlante managed to raise more than 73 Million Euros in funding to facilitate this, with the European Union directly backing Atlante.
8. 1000Farmacie
Year Founded: 2020
HQ: Milan, Italy
Size: 11-50
Founders: Nicolò Petrone
1000Farmacie is an Italian startup that was founded in 2020 and is currently based in Milan. It is the best and easiest way for you to get pharmaceutical drugs in Italy. This is achieved through a network of independent pharmacies that operate in the country through the platform, you order online and then based on your location, your order will be delivered and sorted by 1000Farmacie from one of these registered pharmacies. This makes getting your medication quicker and often, cheaper.
1000Farmacie has been active in securing startup funding, with its most recent funding taking place in July 2023. During this funding round, it managed to raise a total of 25 Million Euros. This funding has been used to further roll out its services across Italy and build relationships with more pharmacies across the country.
9. Cardo AI
**Year Founded: 2018
HQ: Milan, Italy
Size: 101-250
Founders: Altin Kadareja, Daniele Forza
Cardo AI is a startup in Italy that was founded in 2018 and is currently headquartered in Milan. It creates a platform that allows you as an investor, issuer, or lender, you can quickly facilitate your transactions. The software solution also allows you to carry these transactions out at lower cost. Cardo AI has managed more than 18 Billion Euros in assets so far, which means that you can benefit from a lot of working experience. Get your data from more than 100 worldwide systems standardised and made easier to understand.
Cardo AI has been very successful with raising startup funding, with its last public funding round taking place during December 2021. During this funding round, it managed to raise a total of 3.5 Million Euros. This funding round has allowed it to improve its base technology and facilitate team growth.
10. EPICODE
Year Founded: 2020
HQ: Rome, Italy
Size: 11-50
Founders: Ivan Ranza, Claudio Vaccaro
Epicode is a startup in Italy that was founded in 2020 and is currently based in Rome. If you have an interest in coding but don't know where to start, Epicode will train you completely from scratch. You don't have to worry about funding your training, because you can pay them when you land your first coding job through Epicode. People from Epicode get hired at KPMG, Amazon, Google and more.
Epicode hasn't pursued any startup funding recently; however, it has still had success with funding previously. In 2022, it completed a funding round worth 10 Million Euros and involved a merger with the German startup Strive School. The funding was then used to integrate and develop the systems of both entities into what Epicode is now.
11. Kampaay
Year Founded: 2019
HQ: Milan, Italy
Size: 51-100
Founders: Daniele Arduini, Enrico Berto, Marco Alba, Stefano Brigli Bongi
Kampaay is an Italian startup that was founded in 2019 and is currently based in the city of Milan. It makes the process of managing your corporate events so much easier. Kampaay's SaaS platform gives you a unified area to plan all of your corporate events with your team down to the finest detail. You can then monitor the impact of these events by tracking your key KPIs, such as satisfaction, number of leads generated from an event and more, all in collaboration with your team.
Kampaay has taken in a large amount of startup funding since being founded. Its most recent funding round took place in May 2023. During this round, it managed to raise a total of 7.3 Million Euros. The aim of this new funding is to expand in its current markets and to make an entrance into new markets, such as Spain. If a more aggressive strategy continues to be employed, further funding in the near future is likely.
12. Colossus
Year Founded: 2022
HQ: Rome, Italy
Size: 11-50
Founders: Andrea Calandruccio, Gianni Pelosi, Lorenzo Barbantini Scanni.
Colossus is an Italian startup that was founded in 2022 and is currently headquartered in Rome. It is an OAM regulated staking operator and developer for Web 3.0 as a result, it can handle a range of different aspects for your blockchain project. For example, it can be used to manage your overall compliance, custody of tokens, payments, blockchain node development, staking and OTC. This means you can manage everything in one place whilst feeling secure knowing you're working with a regulated team.
Colossus has been very successful in raising startup funding since being founded, with its most recent funding round taking place in June 2023. During this funding round Colosuss managed to raise a total of 2.5 Million Euros. This funding has allowed Colossus to increase its internal expertise whilst also facilitating outreach to generate more business.
13. Voidless
Year Founded: 2022
HQ: Milan, Italy
Size: 1-10
Founders: Carlo Villani, Mattia Bertolani, Guglielmo Riva, Daniel Kaidanovic
Voidless is an Italian startup that was founded in 2022 and is currently based in the city of Milan. Voidless helps you to create box-on demand packaging for your products. The benefits for you are that you end up paying less, because you're using less material for boxes that are perfectly suited to your package. You are able to produce each package in real time which makes it much easier for you to make amendments as the process goes on for your package.
Voidless has very recently seen success in raising startup funding, with a funding round being recently closed in February 2024. During this funding round, Voidless was able to raise a total of 2.2 Million Euros in funding. The reason for the funding was to facilitate extra hiring and to consolidate its current position in the market.
14. Lampoo
Year Founded: 2019
HQ: Milan, Italy
Size: 51-100
Founders: Enrico Trombini
Lampoo is an Italian startup that was founded in 2019 and is currently based in Milan. It allows you to sell your previously loved luxury items and get some of your hard earned money back for them. Alternatively, if you like second hand shopping, you can get some seriously high quality products for a fraction of the usual price. You can either use their website to buy and sell, or as a buyer- you can also visit a range of Lampoo stores that stock the items being sold by its users.
Lampoo has been very active in raising startup funding since being founded, going through multiple funding rounds over the years. The most recent funding round took place in July 2021, when it took part in a Seed round. During this funding round, Lampoo managed to raise a total of 5.2 Million Euros from a pair of investors.
15. Fiscozen
Year Founded: 2017
HQ: Milan, Italy
Size: 101-250
Founders: Enrico Mattiazzi, Fabio Ciotoli, Vito Lomele
Fiscozen is an Italian startup that was founded in 2017 and is currently based in the city of Milan. It operates in the FinTech market and helps you as a business owner to navigate the complexities of preparing and paying tax returns in the complicated Italian market, as well as providing you with the opportunity to send electronic invoices to your customers, which will be logged and tracked in its platform. You will save a bunch of time and potentially a lot of money on doing your own tax return.
Fiscozen has done very well with securing funding from investors, even if it has not run a funding round recently. Its most recent funding round took place in December 2022. During this funding round Fiscozen managed to raise a total of 8 Million Euros to further improve its software and rollout further across Italy.
16. Contents.com
Year Founded: 2021
HQ: Milan, Italy
Size: 51-100
Founders: Massimiliano Squillace
Contents.com is a startup in Italy that was founded in 2021 and is currently headquartered in Milan. If you find that you're struggling to keep up with creating content for your business so you can improve your SEO position, then Contents.com is a big help. Through the use of AI, you're able to get original content that is completely optimised for SEO, up to ten times faster than you would be able to do it yourself. Save time and money for both you and your marketing team.
Contents.com has done incredibly well in terms of raising startup funding, with its most recent round taking place in January 2024. During this funding round, it was able to raise a total of $18 Million in funding. This money was used to improve the platform itself and also drive further growth in Content's existing markets.
17. Leonardo Interactive
Year Founded: 2020
HQ: Rome, Italy
Size: 11-50
Founders: Carlo Bianchi
Leonardo Interactive is an Italian startup that was founded in 2020 and is currently based in the capital city of Rome. Leonardo Interactive is an up and coming game publisher that already has a few awards to its name. If you're a fan of expansive stories and cool art styles in your games, then you should be looking at the titles that Leonardo Interactive helps to create. Some of their existing titles have already been great successes, such as the Daymare franchise,
Despite the successes of some of its franchises, Leonardo Interactive has not yet publicly sought any startup funding. It is currently unclear if it would have any need to do so in future, considering its current business model.
18. Jobtech
Year Founded: 2020
HQ: Milan, Italy
Size: 51-100
Founders: Angelo Sergio Zamboni, Paolo Andreozzi
Jobtech is an Italian startup that was founded in 2020 and is currently based in Milan. If you're looking for a great job, without wanting to go through the hassle and bureaucracy of the process then Jobtech is for you. The best part about it, is that Jobtech is digital, meaning they will have opportunities available across the country, due to the fact they're not stuck to servicing local clients in a regional office. This opens up a range of opportunities for you in numerous industries.
Jobtech has seen some success with startup funding since being founded, with its most recent funding round taking place in December 2022. During this funding round, it managed to raise a total of $6.22 Million. This funding was achieved through the support of a group of seven investors.
19. ScalaPay
Year Founded: 2019
HQ: Milan, Italy
Size: 101-250
Founders: Simone Mancini, Johnny Mitrevski
ScalaPay is an Italian startup that was founded in 2019 and is currently based in Milan. It operates in the FinTech market and provides new ways to shop, whether you're a consumer or a business owner. If you own a business, you'll get the opportunity to allow your customers to pay in instalments for their order through ScalaPay. As a customer, you're able to pay on instalments for thousands of products across hundreds of retailers, which takes the bite out of cost of living increases slightly.
ScalaPay has been hugely successful in raising startup funding since being founded, one of the highest amounts in Italy. In its most recent funding round in December 2023, it cemented its status as Italy's first unicorn with a Series B round that netted ScalaPay $497 Million to further its goals and pursue an aggressive policy of expansion and internal growth. ScalaPay is Italy's top startup.
20. AAVantgarde Bio
Year Founded: 2021
HQ: Milan, Italy
Size: 1-10
Founders: Professor Alberto Auricchio
AAVantgarde Bio is an Italian startup that was founded in 2021 and is currently headquartered in Milan. It operates in clinical-stage international biotechnology, aiming to pioneer breakthroughs in developing effective gene therapies to treat individuals with retinal disorders. Currently it has two legally distinct AAV platforms for large gene delivery. It is also actively pursuing new research opportunities.
AAVantgarde Bio's offering and research has clear value as it has received strong financial backing. For instance, in its latest funding round, it managed to successfully raise a total of 61 Million Euros as part of a Series A. This funding round took place in June 2023 and has allowed for accelerated research and development.
21. Carpe Carbon
Year Founded: 2022
HQ: Turin, Italy
Size: 11-50
Founders: Kasper Kubica, Giuliano Antoniciello
Carpe Carbon is an Italian startup that was founded in 2022 and is currently headquartered in Turin. It is a CleanTech company that allows you to try and offset your impact on the global climate problem through the development and provision of carbon capture devices that take it in from the air, with the carbon then being safely stored underground. You can try and accelerate your company's ambitions to reach net zero by investing in a range of carbon capture devices to offset your emissions.
CleanTech is always prime for investment and Carpe Carbon is no different. It has been successful in raising startup funding, with its most recent funding round taking place in November 2023. During this funding round, it managed to successfully raise a total of 1.7 Million Euros.
FAQs
What Are The Strongest Startup Industries In Italy?
The strongest startup ecosystems in Italy are FinTech, Health and Real Estate.
How Much Funding Do Italian Startups Raise?
Italian VC funding for startups in 2023 was 1.13 Billion Euros, with 14,000 startups, the average startup receives 80,714 Euros in funding.
How Many Tech Startups Are There In Italy?
It is estimated that there are more than 14,000 tech startups based in Italy.
