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.

• Impressive growth trajectory over the decade in terms of volumes, investments, the establishment of innovative companies, and its impact on the economy.

• Approximately 8 billion euros invested in Italian startups over the past 10 years, reflecting a valuation of 67 billion euros in 2023.

• Italian startups and innovative SMEs collectively generated a turnover exceeding 9.3 billion euros in 2023.

• Investments in Italian startups reached €1.1 billion in 2023, with a notable increase in the prevalence of Growth Stage rounds.

• In the last 5 years, VC fundraising activity in Europe totalled EUR 108.7 billion; although 2023 witnessed a decline (-32% YoY), Italy defies the trend with a notable increase (+88% YoY).

P101 has delved into the evolution of its sector over the past decade, scrutinizing specific trends and aligning them with the broader European landscape.

The report, titled “State of Italian VC,” shines a light on the impressive growth of Italian Venture Capital (“VC”) in the last 10 years, acting as a catalyst for the nation’s innovation ecosystem. From 2013 to 2023, Italian VC has injected a substantial 8 billion euros into startups, witnessing a remarkable surge from 152.1 million euros in 2013 to a staggering 1.1 billion euros in 2023. This growth, averaging an impressive 644%, outpaces the European average of 492.5%.

Over the same period, the number of completed transactions has risen from 294 to 387, marking a 31% increase, compared to Europe’s 80%. This hints at a notable upswing in the average size of Italian deals. Despite 2023 macroeconomic uncertainties causing a dip in investments (-55% YoY) and in number of rounds (-30% YoY) in 2023, in line with European trends (-43% and -21% in France and -37% and -19% in Spain), the overall growth trajectory of the Italian ecosystem (+644% over the decade) remains robust.

The burgeoning investment pace has also contributed to the growth of over 13,000 startups and around 2,000 SMEs in Italy. In 2023 alone, these entities generated a turnover of over 9.3 billion euros, employing approximately 62,000 people. The valuation of the Italian Startup ecosystem, standing at around 67 billion euros (Enterprise Value), has increased 25 times over the past 10 years, more than double the European average, with accelerated growth in 2023 recording a 27% YoY increase (7% in Europe). This growth underscores the scalability of business models and the emergence of entities with further development potential, particularly in the technology sector.

While the value of Italian startups in 2023 is comparable to Spain in 2020, France in 2016, and Germany in 2015, indicating a temporal gap in development, the surge in the number of VC-backed companies in Italy (from 726 in 2013 to 2,983 in 2023, a +271% increase) sets the stage for accelerated development. The average valuation of Italian startups in 2023 surpassed 22 million euros, recording the highest compound annual growth rate (+19%) of the decade. Countries like Germany and France still showcase average valuations nearly twice as high as those in Italy, which is still in the early stages of development. However, the data highlights an ongoing maturation process within the Italian ecosystem.

In the last 5 years, European VC funds have raised approximately 109 billion euros, experiencing a 32% decline in 2023 (YoY). However, Italy stands out with an 88% year-on-year increase, with 3.6 billion euros raised by new VC funds. In addition to that, 2023 also witnessed a notable 71% increase in the average size of Italian funds. Despite being in a growth phase, the Italian market lags behind more mature ecosystems. Nevertheless, the consistent increase in the number of new VC funds (from 3 in 2019 to 11 in 2023) and their increasing average size signal a deepening and diversifying market, reflecting growing investor confidence and a broader range of investment opportunities in the country.

“We aim to conduct a comprehensive analysis to spotlight the remarkable journey undertaken by Italian Venture Capital and shed light on its potential for further growth,” remarked Andrea Di Camillo, Founder and Managing Partner of P101. “The overall growth trajectory over the past decade has been substantial, encompassing volumes, investments, the creation of innovative enterprises, and a significant impact on the economy. In 2023 alone, the 52 companies in which P101 has invested generated approximately 1.7 billion euros in revenue – contributing to a total of 5 billion over the decade – while providing employment to over 5,000 people. Industry insights affirm that the groundwork for the Italian Venture Capital ecosystem is now complete. We must look forward to the next decade, furtherly bridging the gap with leading European countries. More importantly, we must brace ourselves for the challenges the ecosystem will encounter as it evolves into a new phase of maturity, ushering in changing rules of the game. Opportunities and competition will escalate, with international players showing a growing interest in our country. Emerging drivers, such as Artificial Intelligence, will reshape investment trends, increasingly honing in on services for businesses. We expect an upswing in the sizes of funds, investments, and startups: companies that have thrived in the past decade now showcase the scalability of their business and stand poised for a dimensional leap that will frequently extend beyond borders. As Venture Capital players, our role is not just to navigate but to lead this transformative shift towards new business models, keeping in mind the core objective of the sector: contributing to the development of the Italian innovation ecosystem.”

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.

Mundimoto is a Spanish digital startup focused on selling and buying motorbikes. It offers an online, fast and guaranteed service. Mundimoto was created in 2019, And since then it has become the largest motorcycle marketplace in Europe with 60M euros turnover in 2022. The company is located in Barcelona, Madrid, has recently opened in Milan and over the years has reached 250 employees.

What is the added value that tells Mundimoto apart from its competitors?

“There are quite a few differences between the service offered by Mundimoto and the ones offered by other players that might look a bit like us. First, we have the largest stock of second-hand motorcycles in Europe, so users can find the motorcycle of their dreams among many. In addition, at Mundimoto we always offer the best service and individual attention to each of our users”, said Josep Talavera, co-founder and CEO of Mundimoto.

In fact, Mundimoto not only offers the best service, but also expands and adapts its products and services whenever it detects new trends or market needs. For example, this year Mundimoto has launched a pay-per-use or renting service that allows people to enjoy the motorcycle of their dreams for as long as they need it. To make all this possible, Mundimoto has developed one of the best technological equipments, in this way it can make sure that its platform always works in the best way and provides the quality service that Mundimoto’s users and customers deserve.

The technology behind Mundimoto

Mundimoto has developed proprietary algorithms to price used motorbikes in real time and to source vehicles at scale. The platform’s infrastructure allows to manage large quantities of inventory in different countries and to overlook the entire lifecycle of the motorbikes from when Mundimoto purchases them until the moment they are sold.  In addition to that, Mundimoto has built an e-commerce platform to sell motorbikes autonomously and cross-selling services on top such as financing, insurance, warranties and refurbishment.

How did Mundimoto meet P101?

We met P101 through Stefano Guidotti who was referenced to us by a friend.

Mundimoto’s business model and top customers

Mundimoto buys and sells motorbikes online offering services on top such as consumer financing, insurance, warranties and refurbishment. More recently, the company has launched a subscription service where customers can pay a monthly fee that includes the vehicle and all the services that are needed to ride it (insurance, maintenance, etc.).

Mundimoto’s future goals

By the end of 2023 Mundimoto expects to be sell 25,000 vehicles and to consolidate its position in the countries where it operates –  Spain and Italy – as well as to carry out a sustainable growth strategy that will allow the company to become a European leader in this market.

Casavo is a technological platform for the real estate and residential markets that aims to redesign and change the ways people buy and sell houses in Europe by providing an integrated experience. The startup was founded in Milan by Giorgio Tinacci at the end of 2017. “From the beginning, our goal was to build a tech platform that could offer a simpler, more convenient user experience, one that would be more in line with the needs of new generations. The project was born at the end of 2017 in Italy as the southern European market was interesting from the point of view of market fundamentals, but it also showed certain inefficiencies that we could solve”, stated Giorgio Tinacci. Over the years, Casavo has expanded overall Europe, in particular to Spain and France.

Casavo started by focusing on sellers, since usually the real estate transaction starts from a person’s need to sell their property. The biggest problem is that selling is a very long process: on average, in the main metropolitan areas, it takes about 200 days to close a real estate transaction. It’s a very complex process grounded on a high degree of uncertainty, due to information asymmetry that generates a lot of stress in customers.

Casavo has solved this problem by removing a step in the buying and selling process, initially positioning itself as a direct buyer through an “instant buy” service, purchasing a property and then finding a final buyer. “Over time, we have expandedour offer, and today sellers can either decide to sell directly to us or ask us to be connected to another buyer. Besides, we have also worked on the end-to-end experience on the buyer’s side: we don’t  just stop at publishing an online catalogue, as typically happens, but we follow the customer through the whole process, from their mortgage request to the notary process, including all connected integrated services”, explained Tinacci. Casavo is a completely new service that shortens buying and selling time and bureaucracy.

Casavo’s encounter with P101

Casavo met P101 between 2020 and 2021, but the two companies had already been in contact for some time in the past. “As one of the main players in the venture capital market in Italy, we looked a lot at P101 even before our official partnership” – explained Tinacci, – “They have always looked with interest at the development of Casavo over the years, also because they have a particular inclination for the proptech market. Therefore, they decided to make an investment at the beginning of 2021, that was consolidated over time with other investments. In addition to this role of investor, P101 constantly participates in all strategic discussions for the development of the company and in the development of specific new projects.

Casavo’s competitors

Casavo does not have real competitors, especially in Italy, but there are players in the proptech sector who cover or try to cover assistance during the buying and selling phase with different or comparable solutions. In France, for example, there are some digital real estate agencies that try to simplify processes, or legacy players, such as real estate portals, with which Casavo has a relationship of coexistence instead of competition. Casavo is essentially unique, and the aspects that differentiate it from its competitors are various. For example, compared to a real estate agency, Casavo can directly buy properties and therefore offer an integrated platform that allows anybody to easily and transparently follow all the phases of the transaction. In the very long term, Casavo could be defined as a sort of “house e-commerce” that can assist customers in buying and selling, being able to provide all the ancillary services that may typically be needed during the sale, such as, for example, assistance in choosing the best mortgage offer on the market.

Casavo technology

Casavo’s ecosystem of products is based on specific elements that intertwine data analysis with technology and as asuch it makes the buying and selling process simpler and less stressful.

Casavo operates in a sector that is characterized by poor information transparency, where there is no single qualified and visible repository of all real estate transactions, therefore it is necessary to know how to read the data in order to correctly evaluate the properties and offer the best economic proposal. However, Casavo also aims to provide “educational contents” to facilitate the process of buying and selling properties through the correct information of all the parties involved.

The technological aspect is linked to everything that lies behind buying and selling operations, because buying a house is a very complex and articulated transaction, with processes that must necessarily take place live and others that can be managed from the platform. Over time, Casavo has built an integrated software architecture to ensure maximum scalability and efficiency of each activity in the value chain, which is reflected in an efficient, convenient and transparent buying and selling experience for customers.

Casavo’s User Experience

Casavo entered the market by providing a service that was tailored to the needs of property sellers, and then evolved by implementing its offer with other services on the buyer side. Using Casavo, sellers can follow all phases of the real estate transaction directly from the platform, via website or app. Each phase, from the evaluation of the property – and the specifications relating to the parameters of the the economic proposal – up to the sales agreement. Sellers can decide to accept Casavo’s offer , but they also have total visibility of buyers that might be interested in buying that type of property.

On the buyer’s side, through the platform users have access to a complete catalogue of properties and to a series of tools for an improved user experience. For example, thanks to a “real tour” technology, customers can view and visit the property directly from the platform, and this allows them to operate a sort of preliminary screening to evaluate which properties they’d like to visit. It is also possible to book a visit in just a few clicks.

Casavo also offers a series of auxiliary services to both parties, ranging from document management to mortgage consultancy  up to after-sales assistance.

Casavo’s future

The company has 3 priorities for the near future: the first is to accelerate profitability and efficiency of operations according to a series of technological developments. The second is to accelerate the development of the marketplace, and therefore of the entire user experience on both the seller’s and buyer’s side. The third priority is to continue its integration in France, a market where Casavo entered last summer through the acquisition of another player. France represents the main real estate market in Europe and therefore, at the moment, the priority for the company is to focus on integrating its commercial offer in this country before entering new European markets.

A fundamental step for Casavo has been its long-term strategic partnership with Unicredit, signed at the end of 2022, after receiving a 10 million investment by the credit institution. This agreement consists of three features: to offer integrated services for Unicredit customers, to develop further innovations in the real estate sector, and to offer new solutions from a capital market perspective in the real estate sector.