Italy is a hub of culture and history, with famous landmarks littered all across the country, making for an amazing vacation. What's less known is that Italy is one of the world's strongest startup ecosystems and Italian startups are growing along with the ecosystem. The combined enterprise value of Italian startups being 33 Billion Euros in 2022, an increase from 21 Billion Euros in 2021. This highlights the rapid growth being experienced in the Italian startup ecosystem as it attempts to catch up with larger ecosystems like Germany, France and the UK. Italy is creating a bedrock for top startups to thrive.
The availability of VC funding in Italy is a large part of what is driving the growth of the startup ecosystem, with projections of a 64% growth in funding per year, whilst investments across Europe are showing a projected decrease of 9%. The Italian government is also trying to attract foreign talent through startup visas that aim to attract non-EU talent to Italy to create new and innovative businesses.
The presence of startup accelerators and incubators is also increasing in the Mediterranean country, with Italian startups having access to 229 incubators and accelerators at the end of 2021. This represents an increase of 17 from the previous year. This coincides with the Italian government's efforts to create a better environment for startups, one such programme is 'Smart and Start Italia', which is a programme where startups younger than five years old can get government loans between 100,000 Euros to 1.5 Million Euros which are repayable over five years.
1. Energy Dome
Year Founded: 2019
HQ: Lonate Pozzolo, Italy
Size: 11-50
Founders: Claudio Spadacini
Energy Dome is an Italian startup that works in the energy sector and has done so since it was founded in 2019. It helps to solve one of the key infrastructure problems in modern energy, which is long-term energy storage. This is important because energy outputs at scale are variable and can change based on the time of day, or even the season. Being able to store energy in the long term allows it to be reserved and then used when it is most needed.
The actual storage process is achieved by using liquid Co2 and also aims to aid in making the world a carbon-neutral place, to make sure the planet can be enjoyed by future generations.
The company has gone through a number of funding rounds since being founded, with a total of six investors supporting the business in its mission to change the energy market. The total funding raised from the investors is $22 Million at the time of writing.
2. MatiPay
Year Founded: 2016
HQ: Mola Di Bari, Italy
Size: 251-500
Founders: Matteo Pertosa
MatiPay is an Italian startup working in the FinTech market in Italy, having been founded in 2016. The company offers an Internet of Things (IoT) solution to turn vending machines to smart objects. This makes it easier for users to pay at the vending machine for the items that they need through the use of a smartphone app that can be topped up through a number of means. This is all with the aim of promoting a streamlined user experience.
MatiPay has gone through a single round of startup funding since being founded, with this round taking place in 2019 as a Series A round. This funding round was supported by a single investor and this allowed the company to raise a figure of 7 Million Euros to further product development and growth.
3. Eoliann
Year Founded: 2022
HQ: Torino, Italy
Size: 1-10
Founders: Roberto Carnicelli, Chiara Mugnai, Giovanni Ludenni, Emidio Granito
Eoilann is an Italian SaaS startup that was founded in 2022 and is currently based in Torino, Italy. The company operates specifically within the climate management sector and has created a SaaS solution to assist insurance companies. The startup's system utilizes satellite imagery and machine learning algorithms to make smart assessments of the potential risks and likelihood of climate events and provide more actionable information on insurance risk.
Since being founded, the company has received funding from two rounds. The first round was in the form of 32,500 Euros which was received in June 2022 and a further raise of 1.5 Million Euros from a funding round in November 2022.
4. Vedrai
Year Founded: 2020
HQ: Milan, Italy
Size: 51-100
Founders: Michele Graziolo
Vedrai is an Italian startup that works in the IT sector and has done so since being founded in Milan in 2020. The company offers solutions for other businesses that allow them to leverage Vedrai's own artificial intelligence expertise in order to make assessments from their data, which allows for beneficial and actionable insights. This helps their customers to make better business decisions and improve their profit.
Vedrai has not only received investment but has also been active in the market itself, taking over two startups during its lifetime. In terms of investment, the startup in Italy has received a total of 45 Million Euros in funding, from a total of three investors. The last investment was a funding round that took place in April 2022.
5. Everli
Year Founded: 2014
HQ: Milan, Italy
Size: 251-500
Founders: Enrico Pandian
Everli is an Italian startup that is currently based in the city of Milan and was founded in 2014. The company makes it easier for customers to do all of their grocery shopping in one place. The startup has created an online marketplace that allows customers to order goods from a variety of different retailers, all in one place. This helps customers to save time and focus on other things than their groceries.
The business has gone through a large number of funding rounds since being founded, with the company being supported by a total of 24 investors that have taken interest in the business model. The amount raised at the time of writing by Everli has reached a figure of 135.6 Million Euros. The business has also completed the acquisition of another startup.
6. Artemest
Year Founded: 2015
HQ: Milan, Italy
Size: 11-50
Founders: Ippolita Rostagno, Marco Credendino
Artemest is a startup in Italy that was founded in 2015 and is currently based in Milan. The startup operates in the e-commerce space and aims to connect lovers of handcrafted items and gifts, with a wide variety of Italy's best small artisans and crafters. The shopping experience is unique with curated options being given to each customer on the platform, ensuring it's easy to find something you like.
Since being founded, the startup has convinced investors of the strength of its business model, with the most recent funding round taking place in May 2022. The company has secured support from 12 investors and the support from these investors has allowed the company to raise a total of $27 Million.
7. 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 operates in the human resources and staffing market. The company aims to make it easier for businesses all across Italy to get access to the staff they need. This is achieved through the creation of a fully digital staffing agency. The company also aims to put power back into the hands of candidates, as it is frequently shown that candidates can have bad experiences with hiring managers and recruiters.
Investors are fond of the business model behind Jobtech, with a total of three investors supporting the company. The last funding round took place in December 2022 and the total funding raised at the time of writing has reached a figure of $7.1 Million.
8. Poke House
Year Founded: 2018
HQ: Milan, Italy
Size: 251-500
Founders: Matteo Pichi, Vittoria Zanetti
PokeHouse is an Italian FoodTech startup that was founded in 2018 and is currently headquartered in Milan, Italy. The company offers a wide variety of poke bowl products across the whole of Italy, with locations in multiple cities. Customers are given agency as they're allowed to create their own bowls from a variety of ingredients that are available.
Despite being a food outlet business, Poke House has successfully managed to raise 25 Million Euros in funding. This funding was achieved through the support of three investors, with the last funding round taking place in July 2022.
9. Babaco
Year Founded: 2020
HQ: Milan, Italy
Size: 11-50
Founders: Francesco Giberti, Luca Masaretti
Babaco is an Italian startup that operates in the e-commerce sector and aims to help reduce the amount of food that is wasted by families across the world. This is achieved through the use of a subscription service where customers can pay to receive shipments of "ugly" or "unusual" fruit and vegetables that would normally be thrown away or put aside by supermarkets and other retailers.
The company's last funding round took place in November 2022 and the total amount raised by the company since being founded has reached $10.6 Million. This funding has been achieved through the support of eleven investors.
10. Serenis Health
Year Founded: 2021
HQ: Milan, Italy
Size: 251-500
Founders: Silvia Wang, Daniele Francescon
Serenis Health, true to its name, is an Italian Healthcare startup that was founded in 2021 and is currently based in Milan. The company has created an online platform to support people suffering from mental health issues. Users of the platform are able to get psychotherapy support with science and the measurement of impact being key cornerstones of the platform.
The company has received significant support from investors, with the company's last funding round taking place in October 2022. In total, the business has secured deals with 13 investors and the funding from these investors has allowed the company to raise a figure of 6.5 Million Euros in total.
11. Milkman Technologies
Year Founded: 2015
HQ: Verona, Italy
Size: 51-100
Founders: Antonio Perini, Tommaso Bau
Milkman Technologies is an Italian startup that operates in the logistics sector and has created a software platform to assist with the facilitation of last-mile delivery. The company's technology helps to improve logistics solutions and improve end-user experience with delivery companies.
The company has received a significant amount of investment, with the total reaching 32.5 Million Euros. The company itself has secured deals with a total of six investors and the last funding round that the company took part in was its Series C funding round that took place during 2020.
12. Dedalo
Year Founded: 2022
HQ: Turin, Italy
Size: 1-10
Founders: Fabio Giannese, Francesco Musso, Seif Chourbagi
Dedalo is an Italian startup that was founded in 2022 and operates in the CleanTech market. The company has created a solution that allows companies to measure the amount of Co2 emissions that are created by their website and also helps them to reduce their output of Co2 to promote more environmentally friendly activities. These reductions can then help these businesses with ESG disclosures.
The Italian startup has gone through a number of pre-seed funding rounds that have been collectively supported by a total of five investors. The total amount that the company has raised from these investors has reached a figure of $209k at the time of writing.
13. Casavo
Year Founded: 2017
HQ: Milan, Italy
Size: 251-500
Founders: Giorgo Tinacci, Simon Specka
Casavo is an Italian startup that was founded in 2017 and is currently based in Milan, Italy. The startup works in the property sector and has developed an online platform to help people either sell their homes or buy one. Each step of the buying process is made easier through leveraging technology to make the process easier and faster. Buying or selling a house is normally an incredibly stressful process, but not with Casavo.
The business has been very active in securing startup funding, with a total of 21 investors backing the company at the time of writing. These investors have helped the business to raise a figure of 698.9 Million Euros. This funding has also helped the startup to complete the acquisition of two other startups.
14. Fiscozen
Year Founded: 2018
HQ: Milan, Italy
Size: 51-100
Founders: Enrico Mattiazi, Fabio Ciotolo, Vito Lomele
Fiscozen is an Italian FinTech startup that was founded in 2018 and is currently based in Milan. The company has created a financial management platform targeted at freelancers and small business owners. This platform helps these people to make sense of their own business finance and their tax obligations, to help them make the most of their money and avoid potential action from the government.
Fiscozen completed its last funding round in 2020, which was a Series A funding round. During the company's funding rounds, it has secured the support of a single investor that has invested a figure of 3.5 Million Euros into the startup.
15. We Wealth
Year Founded: 2017
HQ: Milan, Italy
Size: 11-50
Founders: Fabienne Mailfait
We Wealth is an Italian startup that was founded in 2017 and currently operates in the publishing market. The company has created an editorial and services platform relating specifically to financial services professionals such as accountants, wealth managers, lawyers and more. They put all of the relevant news for such professionals into one place where it can be easily read.
We Wealth's last funding round took place in July 2020, in the form of a Series A funding round. Its forrays into receiving startup funding have allowed the business to strike deals with a total of five investors. The total raised from these investors has reached a figure of 2.3 Million Euros at the time of writing.
16. Atlante
Year Founded: 2021
HQ: Milan, Italy
Size: 51-100
Founders: Natasha Linhart, Federico Nanni
Atlante is an Italian startup focused on the renewable energy sector. The company has created an electric vehicle charging network that is integrated with the energy grid and is enabled by renewable energy and energy storage technology. One of the biggest problems facing renewables and EVs at present is the lack of infrastructure. Atlante aims to solve this problem to get more Italians to drive environmentally friendly vehicles.
Atlante has not yet received any startup funding, although it did receive a sizable grant from the European Union to assist with product development and going to market. The total received from this grant was 22.7 Million Euros and the funding was achieved in September 2022.
17. Cosaporto
Year Founded: 2017
HQ: Rome, Italy
Size: 11-50
Founders: Alessandro D'Angelo, Stefano Manili
Cosaporto is an Italian E-commerce startup that was founded in 2017 and is currently based in Rome. The company offers a home delivery service to its customers, with the delivery service being specifically tailored to delivering goods from upmarket shops around Italy and even in London. The best independent shops and producers are shown and users get their items within hours of placing their orders. This makes gift shopping even easier for customers.
The startup's last funding round was a Series A round that took place in November 2022 and was supported by four investors. In total, the company has received investment from five total investors and they have allowed the business to raise a figure of 8 Million Euros to support the growth of the company.
18. Satispay
Year Founded: 2013
HQ: Milan, Italy
Size: 251-500
Founders: Alberto Dalmasso, Dario Brignone, Samuele Pinta
Satispay is a Fintech startup in Italy that has created its own financial ecosystem, separate from the world of debit and credit cards. Through the use of their mobile platform, businesses are able to accept payments from customers through a variety of methods in a way that keeps costs lower for the businesses. All it takes to accept payment is a click on a smart device and they're good to go. Payments can be made either online or in-store.
Since being founded, Satispay has successfully attracted a large amount of investment. In total, 26 investors have backed the Italian company and these investors have helped the business to raise a total of $471.5 Million to help the business to grow its operations and reach more potential customers.
19. Enthera
Year Founded: 2016
HQ: Milan, Italy
Size: 1-10
Founders: Francesca D'Addio, Gabriella Camboni, Paolo Fiorina
Enthera is an Italian startup that works in the biotechnology and healthcare sectors. The mission of the company is to find new therapeutic treatments to treat diabetes and a range of other gastrointestinal conditions. The other conditions that the company aims to develop treatments for are gastrointestinal conditions that are widely underserved by the medical communities.
The company has managed to secure a large amount of startup funding since being founded, with its last funding round being a Series A round in January 2021. In all of the company's funding rounds, it has managed to secure a total of 39 Million Euros in funding. This funding was achieved through the assistance of seven investors.
20. Mirta
Year Founded: 2019
HQ: Milan, Italy
Size: 51-100
Founders: Ciro Di Lanno, Martina Capriotti
Mirta is an Italian startup that was founded in 2019 and has created a B2B marketplace platform that helps high-end brands to connect with the type of customers that are most profitable for them, such as retail outlets, influencers and E-commerce stores. The aim is for the company to make wholesale a much better experience for both the brands and the parties buying the products.
Since being founded, the company has gone through a Seed Funding round that allowed the company to secure deals with a total of four investors. From these four investors, the Italian startup has managed to successfully raise a figure of 5 Million Euros to further its organisational goals.
21. Zerynth
Year Founded: 2015
HQ: Pisa, Italy
Size: 11-50
Founders: Daniele Mazzei, Gabriele Monetelesciani, Giacomo Baldi, Gualterio Fantoni
Zerynth is an Italian startup focused on the AI and IoT markets. The company has created a platform to make customers' production processes digital in an effort to improve overall productivity. The company's platform follows a plug-and-play philosophy which allows the rapid digital transformation of any industrial machinery.
The company's last funding round took place in November 2022 in the form of a Series A funding round. From its various funding rounds, the company has managed to secure investment deals with four investors. From these investors, the company has managed to successfully raise a figure of 7.4 Million Euros.
FAQs
What Are The Strongest Industries In Italy?
The strongest startup industries in Italy are AI and Deeptech, Fintech and healthcare, among others.
What Is The Average Investment In The Startup Industry In Italy?
Getting exact average figures for startups in Italy can be quite difficult, although Italian startups raised a total of 1.46 Billion Euros in 2021, a 118% increase from the previous year. This shows that the average investment in Italian startups is increasing.
How Many Startups Are There In Italy?
Figures for 2021 show that there are more than 10,000 startups in Italy.
