Italian startups fill quantity market gaps and raise money from domestic and international investors.
Yolo, the Italian startup insurtech that sells micro policies, aims to raise 6 million of euros by July for developing the business internationally and implement Artificial Intelligence technology on its platform (see here a previous post byBeBeez). Simone Ranucci Brandimarte, chairman of Aim-listed digital marketing company Digitouch and ceo Gianluca de Cobelli (a former manager of CartaSì, Amex, EY, and Reply) founded Yolo last year together with insurance brokerage firm Mansutti. De Cobelli said that those who invested in the company in the previous round circa may provide 2 million. Last year in October, Yolo raised one million from Barcamper Ventures, Miro Ventures and Mansutti.
Cuebiq, a New York-based startup that spun off in 2016 from Italian Beintoo, raised 27 million of US dollars from a pool of investors including Goldman Sachs Principal Strategic Investments, Nasdaq Ventures, DRW Venture Capital,and Tribeca Venture Partners (see here a previous post by BeBeez). Cuebiq provides business intelligence that allows companies to monitor offline the behavior of consumers. Ceo Antonio Tomarchio, Filippo Privitera, Walter Ferrara, and William Nespoli founded Cubiq and last year raised a first round investment of 6.1 million from Tribeca, Thomson Reuters, TLcom Capital Partners, Innogest Capital, Elevate Innovation Partners, Balyasny Asset Management,and ARC Angel Fund. After the second round of financing, new managers will join Cubiq’s board: Brian Hirsch, co-founder and managing partner of Tribeca Venture, Marco DeMeireles, head of private investments of Balyasny Asset Management.
Intesa Sanpaolo Innovation Center, a platform for supporting tech innovation that belongs to IntesaSanPaolo, and Israel’s crowdfunding company OurCrowd, signed a Memorandum of understanding for allowing an easier access to international investments for tech startups that are clients to the Italian firm (see here a previous post by BeBeez). OurCrowd signed partnerships with National Australia Bank, Singapore’s United Overseas Bank, Citic Pacific of Hong Kong, Indian Reliance Private Client, Taiwanese Shanghai Commercial Savings Bank, and Bangkok Bank. Intesa Sanpaolo Innovation Center will grant to its corporate and SMEs clients the access to the OurCrowd’s portfolio of startups.
