Italy's angels&incubators, fintech and venture capital weekly roundup. News from the Italian Government, Digital Magics, My Cooking Box, Electra Veichles,Primo Ventures, Zanichelli Ventures, Aigis Banca, Fido, Cardo AI and more
Summary
LIFTT and Club degli Investitori poured 610k and 540k dollars respectively in support of Electra Vehicles, a company co-founded by Italian entrepreneur Fabrizio Martini that has developed an advanced battery control software, for any chemistry and format, based on artificial intelligence that increases durability, useful life, and safety (see here a previous post by ). The capital of the two Italian investors is part of an overall round of 3.6 millions, in which the US LaunchPad Venture fund also participated and which also includes a grant provided by MassChallenge, a publicly owned incubator in the state of Massachusetts. On 23 May, Sunday, Milan-listed Banca Ifis acquired Aigis’ assets and liabilities with the support of the Italian Interbanking Fund for insuring deposits that poured 48.8 million euros. Earlier in July, the target raised 1.1 million euros from private investors, Giorgio Valaguzza, Alessandro Fracassi, Attilio Mazzili, Fernando Spallanzani, and Giacomo Sella, who are all part of the network Italian Angels for Growth. HUI an Italian Saas for startups, and US-based consultancy firm 1840 & Company signed a strategic partnership for increasing the deal flow (see here a previous post by ).