Latest Cardo AI News
May 26, 2021
Palazzo Chigi, headquarter of the Italian Government The private investors in Italian startups who will hold their stakes for at least three years, will not pay taxes on capital gains (see here a previous post by BeBeez ). This is a news included in a new Decree just put forward by the Italian Government. This incentive is worth 30 million euros per year and involves investments carried on between 2021 and 2025. By 2025, Milan-listed incubator Digital Magics recently approved its 2021-2025 industrial plan, which provides investments in more than 200 startups, for a total value of more than 100 million euros by 2025, which is the double of the current portfolio, worth an estimated 50 millions (see here a previous post by BeBeez ). The company intends to finance the planned investments by drawing on both the stock market and bank debt. As for the first channel, the company has foreseen a capital increase of up to 8 million euros, to be offered as an option to shareholders. My Cooking Box, the Italian startup that sells boxes for preparing Italian meals, raised 2 million euros for expanding its international activities (see here a previous post by BeBeez ). Italian vinegar producer Ponti led the round. In 2019 MCB, raised one million from several investors and through an equity crowdfunding campaign on MamaCrowd. MCB also attracted the resources of Cameo, a German producer of ready to bake food, who acquired a minority of the business. 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 BeBeez ). 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. Barcelona-based Pangea Aerospace raised 3 million euros in a new funding round (see here a previous post by BeBeez ). The company attracted the resources of Inveready, CDTI Innvierte, Dozen Investments, E2MC, and Italian venture capital firm Primo Ventures (fka Primomiglio 300k euros). Adrià Argemì, Rasmus Bergstrom, Xavier Llairo, Federico Rossi and Nicola Palumbo founded the company in 2018. HARG, a developer of nutraceutical products for elderly persons, raised 2.7 million euros (see here a previous post by BeBeez ). Gruppo Brixia, a financial holding led the round with an investment of 2 millions, the company’s managers and a|impactAvanzi Etica Sicaf poured 0.2 million and 0.5 million. HARG raised 5 million since its foundation. Zanichelli Venture, the corporate venture capital of the Italian iconic publisher Zanichelli Editore, led a one million dollars investment in convertible bonds that edtech Foundry College issued (see here a previous post by BeBeez ). Swiss Brahama Ventures joined the round together with Ulu Ventures, Learn Capital, and Learn Start. Stephen Kosslyn is the founder of Foundry College, Akiba J Covitz, is the company’s chairman and ceo. Aulab, an Italian coding factory, raised 500k euros (above the 200k euros target) through an equity crowdfunding campaign on Mamacrowd (see here a previous post by BeBeez ). The company’s pre-money value amounted to 6.5 millions. In June 2020, Aulab raised a seed round of 400k euros for a post-money valuation of 2.7 million. The company attracted the resources of SocialFare Seed and of Manilo Marocco. Davide Neve and Giancarlo Valente founded the company in 2014. Sources said to BeBeez that the Italian proptech Reviva aims to raise 150-300k euros by the end of June 2021 (see here a previous post by BeBeez ). Reviva already attracted commitments for 160k euros. Reviva provides services for real estate auctions with the support of experience marketing and artificial intelligence tools. On 22 May, Saturday, the Italian Ministry of Economy and Finance and the Bank of Italy, appointed Francesco De Santis, Andrea Di Cesare, Maria Rita Schiera, and Alessandro Zanotti for liquidating Aigis Banca, the Italian fintech credit provider born in 2017 after Metric Capital Partners acquired GBM Banca (See here a previous post by BeBeez ). Aigis Banca’s exposure to German Greensill Bank, the subsidiary of London-based Greensill Capital, led to bankruptcy. 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. Banca Valsabbina acquired 9.8% of Cardo AI (see here a previous post by BeBeez ). Altin Kadareja and Daniele Forza founded Cardo in 2018. The company provided investors in private debt with data science services. Irish fintech CleverCards acquired Edenred Italia Fin, a provider of electronic money, and ExpendiaSmart, an expense management business, from Edenred (see here a previous post by BeBeez ). Kealan Lennon founded CleverCards. Edenred is a Paris-listed provider of corporate welfare solutions and systems. Crif, an Italian provider of services for business and credit information, invested in Fido, an Italian fintech (see here a previous post by BeBeez ). 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. Marko Maras and Paolo Mardegan created Fido, a digital credit & risk scoring AI-based platform. TimeFlow (TF), an AI-based marketplace for IT professionals, products, services, and companies, raised 325k euros from David Wallack, Paolo Giolito, Indosuez Wealth Management, and Paolo Landoni (see here a previous post by BeBeez ). Lorenzo Danese, Federico Patrioli, Gianmarco Ferrante, and Iacopo Albanese founded TF in May 2020. Brots, a platform for emerging musicians, raised 100k euros (under its 500k euros target) through an equity crowdfunding campaign on Doorway (see here a previous post by BeBeez ). Alessandro Marin and Lorenc Miri founded Brots in 2019. 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 BeBeez ). Bryan DiGiorgio is the ceo of 1840 & Company.