Hi All,
welcome to our spring edition! We have many positive updates to share from our portfolio and teams. We’ve rounded up below some of the highlights from the past few months.
Read on to find out more about:
Novac’s founders hitting Forbes Under 30 list
Endostart receiving FDA 510(k) clearance of its flagship product
iGenius interviewed on TG5 news channel
… and much more!
Portfolio Companies
NOVAC
Like every year, Forbes Italia recently released the forbesunder30 list with 100 young entrepreneurs deserving a mention for their vision and achievements. Interesting stat: 4% of it is made up of Novac founders Matteo Bertocchi, Loris Bruzzi, Aldo Girimonte, Alessandro Fabbri: well done guys!
ENDOSTART
Endostart, a pioneering medical device company specializing in gastrointestinal endoscopy solutions, announced a major breakthrough with the FDA 510(k) clearance of its flagship product, Endorail®. This milestone achievement represents a significant step forward in advancing the field of gastrointestinal endoscopy and improving patient care worldwide.
We are thrilled to obtain FDA clearance for Endorail, marking a significant milestone in our journey to revolutionize gastrointestinal endoscopy. This clearance underscores our commitment to innovation and our dedication to improving patient care. We look forward to introducing Endorail to endoscopic centers across the United States, empowering physicians with the tools they need to deliver exceptional care.
Dr. Alessandro Tozzi, co-founder and CEO
Read the full press release: https://lnkd.in/enaxn2gA
3DNEXTECH
Congrats to 3DNextech for securing a €1.5 milion, Pre Series A, investment round aimed at consolidating the company’s position on the market and further developing the growth strategy. 3DNextech mission is to replace the concept of 'mass production' with 'mass customisation' thanks to digital manufacturing, which allows for zero-mile production and thus a reduction in energy use and environmental impact.
With a specific focus on 2024 and 2025, the future roadmap is based on the expansion of technological solutions, supported by the consolidation of the team as well as strengthening the partner network in Italy and abroad.
The startup's recent participation in the 2024 edition of the CES in Las Vegas, the world's most important tech event, also fits into this goal.
INTA SYSYTEMS
Another great achievement for INTA: the patent protecting their innovative diagnostic technology granted in Japan! This adds to the list of releases already obtained in several European countries.
This is a pivotal moment for INTA, as it marks a significant step forward in our journey toward the commitment to make medical diagnostics accessible to everyone, everywhere. Thanks to our portable, multiplexed, rapid, and low-cost device, supported by high-performance AI algorithms, we are getting ever closer to our goal of significantly improving the diagnosis and monitoring of traumatic brain injuries (TBI), as well as numerous other applications in the medical, veterinary, environmental monitoring, security, and food analysis fields.
Matteo Agostini, CEO
IGENIUS
Uljan Sharka, CEO of iGenius, interviewed on TG5 news channel talked about Modello Italia, the first 100% Italian Foundational Large Language Model developed by iGenius in collaboration with CINECA.
A model designed from scratch to think in Italian, able to simulate the elements of our culture and the nuances of our language: the Italian answer to ChatGpt!
Uljan Sharka, CEO
Don’t miss the full interview here !
NEXOYA
On 17 April, Nexoya invites you to a must-attend webinar on Expert Insights: How to Elevate Your Marketing Performance with AI. What’s on the Agenda?
AI in Performance Marketing: Friend or Foe?
Ethics and Efficiency: Mastering Responsible AI Use
Top 5 Tips for AI Adoption in Your Organization
Ahead of the Curve: AI Marketing Trends for 2024 and Beyond Gain actionable insights on how to seamlessly integrate AI into your marketing strategies for more efficiency and impact. Register now!
Meet-up with Eureka!
Our CEO Stefano Peroncini attended the following exciting events:
Milan, 12 March - SACE CoDesign workshop. A moment of co-creation to support the growth of Italian startups within the innovation ecosystem. The strategic initiative aims to catalyze development and directly strengthen the network of emerging companies in Italy, demonstrating a tangible commitment to the consolidation of the Italian entrepreneurial system.
Brussels, 19 march - EIC Summit: The European Innovation Council (EIC) held an Investor Day on Sustainability & Deep Tech , a full day dedicated to Europe’s sustainable solutions, which gathered 26 companies and a panel of 45+ jury members from some of Europe’s top investment funds.
Parma, 28 February - Giovanni Strocchi, BlackSheep MadTech Fund’s Venture Partner, sat on the panel of First Partners' Club 2024, The Co-Founder You Need, organised with KPMG Italy at Le Village by CA Parma. The discussion was around Corporate Venturing, with case studies exploring strategies of collaboration and investment between corporate and startup. Great event aimed at sharing useful best practices!
Things worth sharing
We closed 2023 with 100 investors and €110 million in total funding, 62% of which came from institutional investors and 23% from industrial corporations.
€45 million invested
34 portfolio investments
€32 million total turnover
540 employees and over 70 patents
2 exits with an average return of 35%
These are the key figures from the Eureka! Fund and BlackSheep MadTech Fund reports as of 31 December 2023.
On 8 April, CDP Venture Capital SGR presented its Business Plan for 2024-2028, which includes strategic guidelines on investment priorities over the next five years and a commitment to identifying and supporting the best innovative realities in the Italian new entrepreneurial landscape.
In a nutshell, the business plan commits €2bn in direct investments strategies to foster the startups ecosystem and €3bn in indirect investments to support Venture Capital Funds, for an overall VC market predicted in 2028 of €5.5bn.
That’s all for today!
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