Expansion plan in Europe, with a focus on Italy, for the startup DataKrypto that designs and develops world-unique solutions for data and transaction protection using homomorphic encryption  

P101 SGR (“P101”) and the CYSERO EuVECA fund enter the capital of DataKrypto with a total investment of 3 million Euros carried out equally.

Founded in 2021 in Silicon Valley, DataKrypto supports its global clients by designing and developing solutions for data and transaction protection using homomorphic encryption, a state-of-the-art technology with world-unique features.

As a result of this operation, the Cysero fund and P101 will hold a qualified minority stake in DataKrypto, while the majority will remain with the founder of the company and current President, Luigi Caramico.

DataKrypto is the ninth investment of the Cysero EuVECA fund, promoted by AVM Gestioni SGR S.p.a. EuVECA Manager Benefit Company, together with Kilometro Rosso – Scientific and Technological Park of Bergamo – to support the development of new enterprises in the fields of robotics and cybersecurity.

P101 made the investment through two managed funds, Programma 103 and Azimut Eltif Venture Capital P103. The operation announced today represents, in particular, the seventh investment carried out through Programma 103 in about twelve months, i.e., since the start of its operation. The investment in DataKrypto follows those previously made by P101 in the cybersecurity sector, confirming the relevance of a strategic sector characterized not only by a high technological component but also by strong development potential.

Thanks to today’s announced deal, the new investors will be able to support the growth phase in the European market – especially in Italy – of a highly innovative technology developed in the USA by Luigi Caramico, a pioneer in the field with over 25 years of experience in Silicon Valley. The operation has also led to a reorganization of Datakrypto with the establishment of a new Headquarters in Italy (Rome), which now also oversees the US activities.

The company has a team of 22 people and a turnover that exceeded 3 million Euros in 2023 (over 2.5x the turnover of 2022).  DataKrypto will use the new capital raised to continue to develop its Fully Homomorphic Encryption solution and its products, especially by strengthening for applications related to advanced algorithms and Artificial Intelligence.

DataKrypto’s solutions are adopted in multiple areas: its flagship products, Phenom and Phenom for Images, are used from the software sector to healthcare, integrating with existing solutions and adding further layers of security. The commitment to innovation and security has led DataKrypto to develop solutions that ensure data protection throughout their lifecycle with unparalleled end-to-end protection.

“This operation marks a decisive turning point for DataKrypto, consolidating our commitment to innovation in the field of Privacy Enhancing Technologies. In a few years, we have managed to establish ourselves as leaders in creating Fully Homomorphic Encryption solutions, solving technological problems that have delayed the commercial adoption of these solutions for many years. Our technology has allowed us to gain the trust of a broad client portfolio in sectors such as Telecommunications, Healthcare, Manufacturing industry, and even SaaS solutions. About 80% of our turnover is generated in the United States, reflecting our ability to effectively respond to the needs of a demanding and constantly evolving global market,” said Luigi Caramico, President of DataKrypto. “With the support of strategic partners like P101 and Cysero, we are committed to expanding our presence and intensifying our impact in Italy and the entire EMEA region, especially by accelerating the expansion of our R&D hub in Italy.”

“We are extremely proud of the investment in Datakrypto, an international deep-tech company with strong Italian roots that, through innovative use of homomorphic encryption, has the potential to revolutionize big data processing, enabling the management of complex data securely and privately. We believe Datakrypto has great development potential and can aim to redefine security standards in the digital landscape, shaping the future of cybersecurity, which must ensure the coexistence of constant innovation and privacy” declared Giuseppe Donvito, Partner at P101. “We have put the expertise gained by the P101 team in the sector at the service of this operation and we look forward to support the new growth phase of Datakrypto, the seventh investment made through Programma 103 just 12 months after its launch.”

“We are convinced that DataKrypto has a very high growth potential thanks to its innovative business” emphasizes Giovanna Dossena – founder and Principal of AVM Gestioni SGR. “The applications that the Cysero fund is studying range from robotics to cybersecurity, from artificial intelligence to the developments of new technologies.”

According to Luca Todesco, keyman of the Cysero Fund who led the team in this operation: “It is a matter of pride to have made an extremely advanced technology Italian; without the contribution of the funds, this result would hardly have been achieved. Homomorphic encryption is the future of this sector. Investing in a company that deals with this represents a novelty in the Italian landscape.”

This operation benefited from support from the European Union under the InvestEU Fund.

***

DataKrypto

Founded in 2021 by Luigi Caramico, Datakrypto is a leader in the innovation of software in Privacy Enhancing Technologies, a rapidly growing segment of cybersecurity. With expertise stemming from three decades in the world of advanced cryptography primarily cultivated in Silicon Valley by its founder, DataKrypto’s mission is to provide highly performing data encryption solutions that protect data at every stage of its lifecycle. Its flagship product, Fhenom, employs a proprietary homomorphic encryption algorithm to ensure unprecedented data security, allowing operations on encrypted data without ever exposing its content. Meanwhile, Fhenom for Images is dedicated to encrypting images with a level of security resistant to quantum computing. Located in Silicon Valley with a strategic presence in Italy, DataKrypto relies on an exceptional team of over 20 individuals, including engineers, physicists, and mathematicians specializing in cryptography and data security.For more information on DataKrypto: https://www.datakrypto.com

P101 SGR

P101 SGR stands as a prominent venture capital fund manager in Italy, specializing in investments in innovative and technology-driven European companies. Established in 2013 by Andrea Di Camillo, the firm boasts a diverse investor base, including Azimut, CDP, European Investment Fund, Fondo Pensione BCC, Unicredit, Cassa Forense, and other institutional investors, along with significant contributions from major Italian entrepreneurial families. P101 SGR currently manages five funds, including the first retail investment vehicle for venture capital developed in collaboration with Azimut Group. With assets under management totalling 400 million euros, P101 has completed over 260 investments in more than 50 companies, generating approximately 1.7 billion euros in revenue in 2023 and employing over 5000 people. Throughout its 10+ years of operation, P101 has been instrumental in fostering the development of the Italian innovation ecosystem, supporting the growth and international expansion of companies such as Fatmap (Strava), Habyt, Milkman, MusixMatch, Tannico, Deporvillage, and Musement. www.p101.it

AVM Gestioni SGR

The AVM group has been operating in the Private Equity and Venture capital sectors since 1995 with a network of Italian entrepreneurs and institutional investors. Avm’s investment teams are specialized and dedicated to the development of Italian SMEs to realize their growth potential through aggregations with a view to medium-long term strategies. AVM invests with dedicated funds in the Life Essentials (Food&Beverage, Health&Beauty, Home Automation), robotics and cybersecurity and impact finance sectors. Giovanna Dossena is founder and Principal of AVM Gestioni. Fondo Cysero – AVM Gestioni

Kilometro Rosso 

Kilometro Rosso is one of the main European innovation districts, a campus that is now home to 80 Resident Partners – companies, laboratories and research centers -, for a total of 2,500 employees and researchers. Developed on a private initiative, the technology park has been operating since 2009 with an inclusive and collaborative logic between the business system, the University, the territory and institutional references, with the mission of encouraging and supporting the innovation processes of the manufacturing system. To this end it has built a system of skills in the fields of Robotics, Cybersecurity, AI, materials science, additive manufacturing, mechatronics, life sciences and environmental impact which have led to the development of 31 laboratories, R&D projects for over 170 million euros, 750 patents filed, and an intense dissemination activity that reaches thousands of people every year. Alberto Bombassei is the President, Salvatore Majorana is the Director.

The company eliminates capsule waste with a “bean-to-cup” offer and ensures the quality of the supply chain by working directly with farmers from around the world.  

Shareholders JME Ventures, Atresmedia, the Portuguese fund Bynd and the Drago family office – De Agostini group, invested alongside P101

INCAPTO – the Spanish startup that promotes sustainable and fair trade specialty coffee beans consumption through an advanced technological approach, born in the midst of the pandemic in Barcelona with the aim of offering an alternative to capsules – closes a €6 million investment round led by P101 SGR (“P101”), a leading player in Italian Venture Capital with a European focus.

P101 invested in INCAPTO through the Programma 103 and Azimut ELTIF Venture Capital P103 funds and is the Lead Investor of an operation that also involved previous shareholders JME Ventures, Atresmedia and the Portuguese fund Bynd.  The family office of the Drago family – De Agostini Group –also joins the company in this latest round.

The operation will allow the Barcelona based company to boost its European expansion, starting with Italy, France, and Portugal.

“This capital injection is also a significant vote of confidence for us, especially at such a crucial moment as our entry into the Italian market, where coffee is much more than a beverage: it’s an institution, a source of national pride. We believe that change should be everyone’s everyday job, and we commit ourselves every day to ensure the transition to a better and more sustainable coffee for the planet, for consumers, and for growers,” says Francesc Font, co-founder of INCAPTO.

INCAPTO originated from the fortunate encounter between Francesc Font and Joaquim Mach, co-founders of the company, who wanted to create an online sales business for recurring and sustainable purchases, and Beatriz Mesas, a professional coffee taster and co-founder. Together they found in coffee a potentially ideal product, although its consumption translates nowadays into a serious impact on the planet.

Indeed, every year 80% of 60 billion coffee capsules produced worldwide, end up in landfills or incinerators. These data make the transition to sustainable solutions even more urgent from both an environmental and human perspective, considering that 91% of the population drinks at least one cup a day in Italy, the 7th country in the world for consumption, with over 5 million sacks every year. At a global level, 9.5 billion kg of coffee are produced annually, volumes set to triple by 2050.

Thanks to a subscription-based business model for specialty coffee for companies as well as for individuals, INCAPTO has reached 20,000 customers in just over 3 years and more than 2,000 businesses connected to the platform, closing 2023 with a turnover of over €7,000,000, projected to double in 2024. INCAPTO also allows the purchase of super-automatic coffee machines connected to a proprietary IoT platform, to enjoy freshly ground coffee quickly and without generating any unnecessary waste.

“We have made an ethical and sustainable approach our flag, in a market where 44% of small coffee producers live in extreme poverty. By combining fair trade with responsible agricultural processes, we are working to introduce a new standard of coffee consumption, stemming the consequences of climate change and respecting the biodiversity surrounding the growing areas. And we are doing all this starting from our technological and digital soul, a fundamental part of our company and of our unique offer” commented Joaquim Mach, co-founder of INCAPTO.

Stefano Guidotti, Partner at P101, concluded: “We welcome INCAPTO as Portfolio Company of Programma 103. INCAPTO is a new chapter in our so far successful experience in Spain and consolidates P101 as an important player in the digital innovation space in Southern Europe. Furthermore, this investment allows us to support the international growth of a company that, like few, combines two elements that are central to P101’s future: sustainability and technology, in this case applied to a particularly interesting sector such as specialty coffee”.

This operation benefited from support from the European Union under the InvestEU Fund.

The foodtech startup has developed a platform that connects Italian restaurateurs with producers, enabling one-click procurement of all supplies with fast, frequent and reliable deliveries 

The deal was led by “Sinergia Venture Fund” (Alkemia Capital), with participation from pre-existing investors P101, Azimut and CDP Venture Capital through Italia Venture I fund and Intesa San Paolo.

Udine, November 28, 2023. Soplaya, a foodtech startup that has developed an groundbreaking digital procurement channel for Italian restaurants, has announced the closing of a 12.5 million euro financing round, including 11.5 million in equity – provided by Sinergia Venture Fund (Alkemia Capital), which was lead investor in the deal, and by investors who had participated in the previous round (P101, Azimut and CDP Venture Capital, through the Italia Venture I fund) – and one million provided by Intesa San Paolo in debt financing.

Including the €3.5 million raised in July 2020, the round brings the total funding raised by the foodtech company to €16 million.

Launched five years ago, Soplaya operates as a digital wholesaler for restaurants, providing easy access to a new range of artisan, local, or niche products, as well as food brands, and aggregating delivery orders via its mobile app, its 3 logistics hubs, and its fleet of refrigerated trucks. To date, it has performed more than 100,000 deliveries, supplied more than 1,000,000 products, and served more than 2,000 restaurants, bars and hotels in 15 Italian cities. The company democratizes access to the B2B food supply chain to all producers, big and small, by avoiding any investment in sales, logistics, deliveries, orders, payments and invoice management. It is not just a marketplace, but a comprehensive tool that empowers chefs and restaurant owners to take back control of their purchase data, create ingredients lists for menus, place orders in a single click, receive tailored product suggestions, and get precise delivery notifications to the minute.

With its technology and network of logistics hubs, Soplaya is able to serve thousands of products from more than 300 suppliers to hundreds of customers every day within 24 hours, without delivery fees.

Mauro Germani, CEO of Soplaya, envisions a future where independent restaurants and small-medium chains have equal access to fast, efficient deliveries and quality ingredients at transparent, fair prices, irrespective of their size or negotiating skills. He commented, “Technology and automation, applied to every step of the restaurant supply chain, will radically improve transparency, efficiency and sustainability, and ultimately bring time and cost savings that were previously only available to huge hospitality players. After our first round in 2020, we set up 3 lean and modular hubs and we are now able to launch them in just 45 days, and grow three times faster with each launch. Also thanks to the resources raised through this round, we now aim to consolidate our presence in the Italian market, while preparing for the expansion in new geographies. Applying AI to operations and demand prediction will be the next big thing in the coming years for Soplaya and our community of restaurants and suppliers.”

Giacomo Picchetto, Partner at Alkemia Capital, commented, “We are honoured to be the lead investor in this round of Soplaya. Our fund invests in innovative B2B technology scale-ups with high growth potential in Italy and abroad, cutting-edge technology and a complete and excellent team: Soplaya presents all these characteristics, which position it in the European scenario as a potential leader in “disrupting” a high-growth, anti-cyclical but still traditional sector such as the supply of ingredients and products to the HoReCa industry.”

Over the past two years Soplaya has invested significantly in expanding its team with top talents, reaching 55 people, and automating every aspect of a B2B food supply chain where 20% of the value is lost due to distribution inefficiencies.

Soplaya’s transformation of the B2B food supply chain involves automating all operations and transitioning them online to bring forth a better, fairer, and more sustainable digital end-to-end supply chain. This initiative aims to boost profits for chefs and suppliers by up to 10%, reduce carbon emissions by 50%, and minimize food waste to just 1%.

Soplaya was assisted in the deal by law firm LCA (attorneys Andrea Messuti and Flavia Visco) while law firm McDermott (attorneys: Enrico Raso and Stefano Pardini) supported Sinergia Venture Fund.

About Soplaya

Soplaya is a foodtech startup launched in 2019 that has developed a platform that provides restaurants with access to quality ingredients with transparent pricing and efficient, reliable delivery. By automating and digitizing the B2B food supply chain, Soplaya strives to reduce waste, increase customer and supplier profitability, and make the industry more sustainable.

Press Office
Albanesi PR | Communication Advisory
Marco Albanesi | +39 329 3987262 | marco@albanesipr.com

Lead investor in this new transaction the VC P101, with the important contribution of Fin+Tech, accelerator of CDP Venture Capital

Pisa, 24 November 2023. Transforming compliance activities from a mere obligation and cost center into a lever to generate business opportunities by changing the way large organizations and companies, starting with banks and insurance companies, access, consult, and utilize the immense volume of legal documents. This is the mission of Aptus.AI, which announces today a pre-Series A of €3 million. The lead investor in the transaction is Programma 103 by VC P101 Sgr, making its entry into the share capital of Aptus.AI, supported by some business angels and Fin+Tech, the accelerator of CDP Venture Capital, which followed this round after also participating in the previous one.

Aptus.AI serves as a compelling example of a startup that adeptly translates vision into action. Established in Pisa by Andrea Tesei and Lorenzo De Mattei, following the development phase of their proprietary technology culminating in the Daitomic platform—a transformative tool converting legal documents into interactive, machine-readable versions—the company is poised to launch its inaugural pilot application in the latter half of 2021. This application swiftly proves instrumental, not only revolutionizing the landscape of compliance management but also reshaping the perception of its potential impact on business operations. An important result on which the company builds the seed round that allows it in 2022 to consolidate the offering with a holistic solution capable of meeting the needs of the most complex financial institutions: from swift and targeted consultation of regulations, to the comparison of a law in all its evolutions, the creation of personalized and multilingual “legal inventories” for navigating specific regulatory environments, and even simulations of impacts by anticipating analyses of future regulatory trends, among other features.

Giuseppe Donvito, Partner of P101, comments: “At P101, we are excited to join forces with the Aptus.AI team. This represents P101’s first investment in the dynamic RegTech market, a rapidly expanding sector. The transaction arises from the trust we have in the team and the significant interest shown by major banking and insurance institutions in Aptus.AI’s product, thanks to the high level of Artificial Intelligence technologies developed by Andrea and Lorenzo, leveraging their studies in Computer Science and Generative AI at the University of Pisa. We are confident that the company will quickly achieve a leadership position in the compliance and risk management sector. It is an honor for us to contribute from the outset to the growth of Aptus.AI, providing our continuous support to shape the future of this innovative venture and consolidate its prominent position on the international stage.”

Andrea and Lorenzo, respectively CEO and CTO, both holders of a Ph.D. in Computer Science from the University of Pisa, and with a remarkable academic background characterized by numerous peer-reviewed scientific articles, founded Aptus.AI. The company has already gained traction, securing prestigious clients such as Intesa Sanpaolo, Generali Investments, and MPS, while simultaneously initiating several pilot projects with significant industry players.

Andrea Tesei, co-founder and CEO of Aptus.AI, comments: “We are very proud to count an important player like P101 among our investors and equally grateful to the Fin+Tech accelerator of CDP Venture Capital, which has been decisive in our growth, renewing and reinforcing its confidence along with other shareholders who have supported us from the beginning. We are determined to uphold the Italian flag in a sector like RegTech, which is proving increasingly important and strategic internationally, enabling large organizations to develop their offerings rapidly and correctly, thus remaining competitive and benefiting end consumers and the socio-economic fabric. By combining AI for data extraction with generative AI, our solution can achieve a very high level of precision in responses even for a complex and nuanced field like the legal one, with extraordinary positive impacts.”

In the last 15 years, the financial industry has undergone a growing transformation, both industrially, driven by the birth of fintech and consequent competition built on new service types, and regulatory, with an increase in norms to protect consumers and the use of data concerning them. All reasons why the RegTech market is estimated to reach $15.6 billion between 2022 and 2027, with a CAGR of 21.18%.
One of the main challenges to address for a rapid and accurate compliance adjustment is the absence of documents in machine-readable format, an issue that Aptus.AI solves with Daitomic.

Lorenzo De Mattei, co-founder and CTO, adds: “The heart of our artificial intelligence is its revolutionary ability to convert legal documents of any format into a machine-readable standard. This innovation opens up a world of previously inconceivable interactions with legal texts for AI users and systems. The result is a suite of extraordinarily efficient tools that include interactive regulatory consultation, automatic custom notifications, automatic management and updating of legal inventory, and instant impact analysis. Our machine-readable format provides a set of data and legal information in digital format that allows us to create more precise Generative AI models, significantly limiting so-called ‘hallucinations’ in an area like the legal one, where the accuracy of responses is essential.”

This operation benefits from support from the European Union under the InvestEU Fund.

About Aptus.AI

Aptus.AI is an innovative startup, founded in Pisa by Andrea Tesei and Lorenzo De Mattei, with the aim of transforming compliance activities from a mere obligation and cost center into a lever to generate business opportunities. To achieve this, the company has developed proprietary AI technology that generates machine-readable versions of legal documents, making all relevant national and European regulations easily accessible and consultable. The result is the Daitomic platform, a real-time updated RegTech SaaS. After closing a €1.2 million seed investment round, with the support of some business angels and Fin+Tech, the accelerator of CDP Venture Capital, in 2023, it finalized a €3 million pre-Series A led by the VC fund P101.

About P101

P101 SGR is one of the leading venture capital fund managers in Italy, specializing in investments in innovative and technology-driven companies in Europe. Founded in 2013 by Andrea Di Camillo, it counts among the investors in its funds Azimut, Fondo Italiano di Investimento, European Investment Fund, Fondo Pensione BCC, Unicredit, Cassa Forense, and other institutional investors, as well as some of the main Italian entrepreneurial families. P101 SGR currently manages three funds, in addition to the first retail investment vehicle dedicated to venture capital developed in collaboration with the Azimut Group. With assets under management totaling 500 million euros, P101 has completed more than 100 investments involving over 50 companies, supporting and contributing to the development of some of the most important Italian and international players in the innovation sector. These include: Opyn (formerly BorsadelCredito.it), Cortilia, Milkman, MusixMatch, Tannico, Deporvillage, and Musement.

Contacts

Angèlia Comunicazione
Simona Vecchies, Michela Piccini, Ludovica Polci
aptusai@angelia.it

P101 SGR, venture capital italiano fondato da Andrea Di Camillo, ha rilevato il 24,5% delle quote di Citynews spa, di proprietà, fino ad oggi, del fondo Principia II, gestito da Xyence SGR.

Rimane immutata, per il resto, la compagine sociale e Luca Lani e Fernando Diana, insieme agli altri founder e manager, continueranno a guidare la società e a detenere la maggioranza della stessa.

“Siamo molto felici del nostro investimento in Citynews – dichiara Andrea Di Camillo, founder e CEO di P101 SGR –. Il digital publisher è riuscito, in poco più di 10 anni, a scalare le classifiche di audience dell’informazione digitale italiana e, ormai da tempo, è, in maniera indiscussa, una piattaforma informativa essenziale per gran parte del territorio italiano. Siamo felici di dare il contributo alla sua ulteriore espansione”.

“Siamo orgogliosi di accogliere un socio di tale esperienza a fianco dei nostri attuali azionisti – affermano Luca Lani e Fernando Diana, fondatori e CEO di Citynews –. L’ingresso di P101 rafforza l’azienda e garantisce la presenza di un partner solido, dalla grande esperienza e reputazione internazionale, con dei sottoscrittori istituzionali tra i più rilevanti del paese. Siamo certi che P101 saprà supportarci e consigliarci nello sviluppo del business.“

Chi è Citynews

Citynews, è un Digital Publisher fondato nel 2010, con la mission di essere una delle principali infrastrutture informative italiane.

Secondo i dati Comscore, Citynews registra oltre 30 milioni di lettori unici e 280 milioni di pagine viste al mese, con una media di lettori giornalieri che si attesta costantemente sopra gli 8 milioni. I quotidiani digitali Citynews fanno registrare ogni mese una penetrazione sulla Total Digital Audience superiore al 70%, e contano 1 mln di utenti registrati.

Citynews conta al suo interno un team di circa 250 giornalisti (dipendenti, collaboratori e freelance) che produce migliaia di contenuti originali al giorno. Quest’anima giornalistica è affiancata da un team Marketing e Digital Sales, composto da oltre 100 professionisti il cui obiettivo è supportare le aziende italiane nella loro comunicazione digitale. Nei suoi 13 anni di vita, oltre 9.000 aziende si sono affidate a Citynews, per un transato complessivo di 100 milioni di euro.

P101 SGR

P101 SGR è uno dei principali gestori di fondi di venture capital in Italia, specializzato in investimenti in società innovative e technology driven in Europa.

Nato nel 2013 e fondato da Andrea Di Camillo, annovera tra gli investitori dei propri fondi Azimut, Fondo Italiano di Investimento, European Investment Fund, Fondo Pensione BCC, Unicredit, Cassa Forense e altri investitori istituzionali, oltre ad alcune tra le principali famiglie imprenditoriali italiane. P101 SGR, gestisce attualmente tre fondi, oltre al primo veicolo di investimento retail destinato al venture capital sviluppato in collaborazione con il Gruppo Azimut.

Con masse in gestione per un totale di 500 mln di euro di assets, P101 ha portato a termine più di 100 investimenti che hanno coinvolto oltre 50 società, supportando e contribuendo allo sviluppo di alcune tra le realtà italiane e internazionali più importanti del settore innovazione. Tra queste: Opyn (ex BorsadelCredito.it), Cortilia, Milkman, MusixMatch, Tannico, Deporvillage e Musement.

The subscription platform continues to deliver a best-in-class digital experience meant to inspire and motivate their active community with the addition of FATMAP’s 3D mapping technology making outdoor adventures easier to discover, experience and share

Strava, the subscription platform at the center of connected fitness, announced the acquisition of FATMAP, a mobile app for discovering, planning, navigating and memorializing outdoor adventures. The acquisition will give Strava subscribers access to the full FATMAP offering.

The acquisition is part of  Strava’s ongoing investment to provide a best-in-class digital experience for people who are striving for an active lifestyle. FATMAP has built a global proprietary 3D mapping technology that will be enabled in all of Strava’s services, empowering active individuals to holistically discover and plan an outdoor experience with curated local guides, points of interest and safety information.

“In 2022, nearly 10 million routes were saved and recommended by active individuals around the world on Strava. Maps and tools are powerful unlocks to deliver daily value and motivate our active community,” said Michael Horvath, CEO and co-founder of Strava. “We have a shared vision with FATMAP to inspire more people to move by empowering them to discover and experience the joy of the outdoors. For us, the opportunity to reimagine the purpose of maps and how they inspire exploration is an outsized advantage for a differentiated outdoor experience.”

Designed specifically for trails and exploring the outdoor world, FATMAP’s technology enables people to safely discover, navigate and share adventures, even without a mobile connection. FATMAP’s community of hikers, mountain bikers, skiers and trail runners are already active in over 100 countries around the world. Paired with Strava’s data set of more than 8 billion activities, the acquisition will enable a universal map for human-powered experiences whether moving on the slopes, trails, city streets or suburban neighborhoods.

Based in Europe, FATMAP was founded in 2013 by Misha Gopaul and David Cowell and has nearly 50 highly skilled team members that will join Strava’s workforce across the continent including offices in Chamonix, Berlin and Vilnius. Gopaul will shift from his current role as FATMAP CEO to serve as a Strava vice president of product, reporting to Steve Lloyd, Strava’s chief product and technology officer.

Gopaul said: “We started FATMAP with a mission to make outdoor experiences more accessible. Where other map platforms have been designed for navigating streets and cities, we wanted to build a map designed specifically to help people explore. Joining forces with Strava opens up new exciting possibilities and will accelerate our progress to enable millions more people to explore the world’s wild places, safely and sustainably.”

This acquisition follows last year’s product enhancements from Strava, including the introduction of new trail sports types and its enhanced suite of routing features to help active people explore and power their adventures. It is also the second acquisition since summer 2022, when the organization acquired Recover Athletics, a prehab and injury prevention app for active individuals. These additions reinforce its steady technology investments to provide active individuals with higher value and access to more tools to plan, motivate and power an active lifestyle on a singular platform.

Strava also recently announced 9 new sports types, including racquet sports, pilates and HIIT. Now supporting 50 different activity types, the community platform continues to grow subscriber benefits, such as ski area mapping, Recover Athletics pre-hab content, Beacon safety tracking, route recommendations, an online route builder, global and personal heatmaps, and segment leaderboards. With these product upgrades, Strava has enacted a price change to reflect the increased benefits. These updates aim to deliver daily value to active people around the world.

For more information on Strava or to start a free subscription trial visit www.strava.com.

About Strava

Strava is the leading subscription platform at the center of connected fitness, with more than 100 million active people in 195 countries. The platform offers a holistic view of your active lifestyle, no matter where you live, which sport you love and/or what device you use. Everyone belongs on Strava when they are pursuing an active life. Join the community, find motivation and discover new experiences with a Strava subscription.

Our favorite stats:

• More than 8 billion activities shared on Strava
• Active individuals in every country on Earth
• 40 million activities uploaded per week
• Over 30 million Segments
• Over 3,000 professional athletes on Strava
• Almost 10 billion Kudos given last year
• Over 10 million photos and videos shared per week
• Over 2,000 partner organizations making their communities better with Strava Metro
• 400+ employees around the world, with seven offices across the globe:
  • San Francisco, CA (headquarters)
  • Berlin, Germany
  • Bristol, UK
  • Chamonix, France
  • Denver, CO
  • Dublin, Ireland
  • Vilnius, Lithuania

About FATMAP

FATMAP helps millions of people around the world enjoy better, safer outdoor adventures. With its cutting-edge 3D map the platform allows its community to plan, track and share their adventures. For those looking for adventure inspiration, there are thousands of professionally curated routes and guidebooks, covering a range of mountain activities. With FATMAP Explore, members can unlock premium features and benefits so they have everything they need to make the most of their time in the mountains. Whether hiking, biking, trail running, ski touring, or freeriding, if you love mountain adventures you’ll find your community on FATMAP.