Posted by Italian Startups and tech companies
Welcome to the vibrant landscape of Italian innovation, where creativity and entrepreneurship converge to give rise to some of the most promising startups in the country. In this post, we’ll take you on a journey through the dynamic world of Italian entrepreneurship, showcasing the best startups that are making waves in various industries. From cutting-edge technology to innovative solutions in traditional sectors, these startups embody the spirit of ingenuity and are poised to leave a lasting impact on the business landscape. Join us as we explore the best startups to watch in Italy, where innovation meets tradition, and the future is being shaped by the bright minds driving these ventures forward.
Startup Statistics in Italy
In 2022, the collective enterprise value of Italian startups surged to an impressive 33 billion Euros, marking a substantial leap from the 21 billion Euros recorded in the previous year. This noteworthy growth underscores the rapid evolution within the Italian startup ecosystem as it strives to narrow the gap with more established counterparts in Germany, France, and the UK, solidifying Italy as a fertile ground for thriving startups.
A pivotal catalyst propelling this surge is the substantial availability of venture capital (VC) funding in Italy. Projections indicate a remarkable 64% annual growth in funding, a stark contrast to the anticipated 9% decrease in investments across Europe. Contributing to this momentum, the Italian government is actively luring foreign talent through startup visas, designed to attract non-EU professionals to Italy, fostering the creation of novel and innovative businesses.
Further amplifying this trend is the burgeoning presence of startup accelerators and incubators in the Mediterranean nation. By the close of 2021, Italian startups benefited from access to 229 incubators and accelerators, reflecting a notable increase of 17 from the previous year. This aligns seamlessly with the Italian government’s initiatives to cultivate a conducive environment for startups. Notably, the ‘Smart and Start Italia’ program stands out, offering startups less than five years old government loans ranging from 100,000 Euros to 1.5 million Euros, repayable over a five-year period, thus fortifying the foundation for sustained entrepreneurial growth.
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Best Startups to Watch in Italy in 2024
1. Vedrai
Year Founded: 2020
HQ: Milan, Italy
Size: 51-100
Founders: Michele Graziolo
Vedrai, an IT sector startup founded in Milan in 2020, offers businesses solutions to harness artificial intelligence for data-driven assessments. By aiding in making informed decisions, Vedrai empowers its clients to enhance profitability. With a total funding of 45 million Euros from three investors and the acquisition of two startups, Vedrai continues to make significant strides in the market, culminating in its latest funding round in April 2022.
2. Everli
Year Founded: 2014
HQ: Milan, Italy
Size: 251-500
Founders: Enrico Pandian
Everli, established in 2014, operates in Milan and simplifies grocery shopping through its online marketplace. Enabling customers to order from various retailers in one place, Everli enhances efficiency and time savings for consumers. With a substantial funding history involving 24 investors, the company has raised 135.6 million Euros, emphasizing its significant impact on the online grocery market.
3. Artemest
Year Founded: 2015
HQ: Milan, Italy
Size: 11-50
Founders: Ippolita Rostagno, Marco Credendino
Artemest, an e-commerce startup founded in 2015, connects aficionados of handcrafted items with Italy’s finest artisans. Operating from Milan, the platform offers a curated shopping experience, presenting a diverse array of handcrafted products. The company’s success is evident in its recent funding round in May 2022, securing 27 million dollars from a total of 12 investors.
4. Jobtech
Year Founded: 2020
HQ: Milan, Italy
Size: 51-100
Founders: Angelo Sergio Zamboni, Paolo Andreozzi
Jobtech, established in 2020, operates in the human resources and staffing market, revolutionizing hiring through its fully digital staffing agency. By empowering both businesses and candidates, Jobtech addresses the challenges in the hiring process. The company has garnered support from three investors, securing a total funding of $7.1 million in its latest funding round in December 2022.
5. Poke House
Year Founded: 2018
HQ: Milan, Italy
Size: 251-500
Founders: Matteo Pichi, Vittoria Zanetti
Poke House, a FoodTech startup established in 2018, specializes in poke bowl products, allowing customers to create personalized bowls from a variety of ingredients. Despite being a food outlet, Poke House successfully raised 25 million Euros in funding, supported by three investors in its latest funding round in July 2022.
6. Babaco
Year Founded: 2020
HQ: Milan, Italy
Size: 11-50
Founders: Francesco Giberti, Luca Masaretti
Babaco, an e-commerce startup founded in 2020, tackles food waste by offering a subscription service delivering “ugly” or “unusual” fruits and vegetables that would otherwise be discarded. With a compelling mission, Babaco secured $10.6 million in funding from eleven investors in its latest funding round in November 2022.
7. Serenis Health
Year Founded: 2021
HQ: Milan, Italy
Size: 251-500
Founders: Silvia Wang, Daniele Francescon
Serenis Health, founded in 2021, addresses mental health issues through its online platform offering psychotherapy support. With a focus on science and impact measurement, the startup raised 6.5 million Euros in funding from 13 investors in its latest funding round in October 2022.
8. Milkman Technologies
Year Founded: 2015
HQ: Verona, Italy
Size: 51-100
Founders: Antonio Perini, Tommaso Bau
Milkman Technologies operates in the logistics sector, providing a software platform for last-mile delivery facilitation. With a total funding of 32.5 million Euros, the company has garnered support from six investors, concluding with its Series C funding round in 2020.
9. Energy Dome
Year Founded: 2019
HQ: Lonate Pozzolo, Italy
Size: 11-50
Founders: Claudio Spadacini
Energy Dome, established in 2019, is an Italian startup at the forefront of the energy sector, addressing a critical challenge in modern energy infrastructure—long-term energy storage. By utilizing liquid CO2, the company aims to facilitate the storage of energy for extended periods, allowing for strategic utilization during peak demand. Notably, this innovative process aligns with the broader mission of fostering a carbon-neutral environment for future generations. Having undergone several funding rounds, Energy Dome currently boasts a total funding of $22 million from six supportive investors, highlighting its commitment to revolutionizing the energy market.
10. MatiPay
Year Founded: 2016
HQ: Mola Di Bari, Italy
Size: 251-500
Founders: Matteo Pertosa
MatiPay, a FinTech startup founded in 2016, focuses on transforming vending machines into smart objects through its Internet of Things (IoT) solution. Simplifying transactions, users can conveniently pay for vending machine items using a smartphone app that supports various top-up methods. The company raised 7 million Euros in its Series A funding round in 2019, marking a significant milestone in advancing its product development and growth.
11. Eoliann
Year Founded: 2022
HQ: Torino, Italy
Size: 1-10
Founders: Roberto Carnicelli, Chiara Mugnai, Giovanni Ludenni, Emidio Granito
Eoliann, a SaaS startup established in 2022, operates in the climate management sector, offering a SaaS solution tailored for insurance companies. Leveraging satellite imagery and machine learning, the platform delivers intelligent assessments of climate-related risks, providing actionable insights for insurance risk management. With funding totaling 1.5325 million Euros from two rounds in June and November 2022, Eoliann showcases promising developments in its early stages.
12. Dedalo
Year Founded: 2022
HQ: Turin, Italy
Size: 1-10
Founders: Fabio Giannese, Francesco Musso, Seif Chourbagi
Dedalo, established in 2022, focuses on CleanTech, offering a solution to measure and reduce website-generated CO2 emissions. Through several pre-seed funding rounds, the company has received a total of $209k from five investors.
13. Casavo
Year Founded: 2017
HQ: Milan, Italy
Size: 251-500
Founders: Giorgo Tinacci, Simon Specka
Casavo, a property sector startup founded in 2017, developed an online platform to simplify the home buying and selling process. With a strong funding history, the company has raised 698.9 million Euros from 21 investors, enabling the acquisition of two other startups.
14. Fiscozen
Year Founded: 2018
HQ: Milan, Italy
Size: 51-100
Founders: Enrico Mattiazi, Fabio Ciotolo, Vito Lomele
Fiscozen, a FinTech startup founded in 2018, focuses on financial management for freelancers and small business owners. The company secured 3.5 million Euros in its Series A funding round in 2020, supported by a single investor.
15. We Wealth
Year Founded: 2017
HQ: Milan, Italy
Size: 11-50
Founders: Fabienne Mailfait
We Wealth, founded in 2017, operates in the publishing market, providing an editorial and services platform for financial services professionals. With a total funding of 2.3 million Euros from a Series A funding round in July 2020, the company continues to serve the needs of financial professionals.
16. Atlante
Year Founded: 2021
HQ: Milan, Italy
Size: 51-100
Founders: Natasha Linhart, Federico Nanni
Atlante, established in 2021, focuses on the renewable energy sector, providing an electric vehicle charging network integrated with renewable energy and energy storage technology. Although not funded traditionally, Atlante received a sizable grant of 22.7 million Euros from the European Union in September 2022 to support product development and market entry.
17. Cosaporto
Year Founded: 2017
HQ: Rome, Italy
Size: 11-50
Founders: Alessandro D’Angelo, Stefano Manili
Cosaporto, an e-commerce startup founded in 2017, specializes in high-end home delivery services. Tailored to deliver goods from upmarket shops in Italy and London, the company raised 8 million Euros in its Series A funding round in November 2022, with support from four investors.
18. Satispay
Year Founded: 2013
HQ: Milan, Italy
Size: 251-500
Founders: Alberto Dalmasso, Dario Brignone, Samuele Pinta
Satispay, a Fintech startup founded in 2013, has created its financial ecosystem, distinct from traditional debit and credit cards. With support from 26 investors, the company has successfully raised $471.5 million, emphasizing its role in reducing costs for businesses accepting payments through its mobile platform.
19. Enthera
Year Founded: 2016
HQ: Milan, Italy
Size: 1-10
Founders: Francesca D’Addio, Gabriella Camboni, Paolo Fiorina
Enthera, a biotechnology and healthcare startup founded in 2016, focuses on developing therapeutic treatments for diabetes and underserved gastrointestinal conditions. With a total funding of 39 million Euros from seven investors, the company continues its mission to address unmet medical needs.
20. Mirta
Year Founded: 2019
HQ: Milan, Italy
Size: 51-100
Founders: Ciro Di Lanno, Martina Capriotti
Mirta, established in 2019, operates a B2B marketplace platform connecting high-end brands with profitable customers. The company successfully raised 5 million Euros in a Seed Funding round, securing deals with four investors to further its mission of enhancing wholesale experiences for both brands and buyers.
In conclusion, Italy is emerging as an increasingly attractive destination for startups, with a growing ecosystem and a supportive environment. The country’s commitment to innovation is evident through government initiatives, such as startup loans and visas, aimed at nurturing young businesses. The rise in venture capital funding, the presence of startup incubators and accelerators, and a diverse range of industries participating in the startup landscape further contribute to Italy’s appeal.
The entrepreneurial spirit in cities like Milan, Turin, and Rome is palpable, and the country’s startup scene is gaining recognition on the global stage. With a focus on sustainability, especially in CleanTech and renewable energy, Italian startups are aligning with contemporary trends and attracting attention from investors with a keen eye on the green economy.
While challenges such as bureaucracy persist, the overall trajectory is positive, reflecting Italy’s commitment to fostering innovation and entrepreneurship. As the startup ecosystem continues to evolve, Italy’s blend of historical richness and modern ingenuity positions it as a promising hub for startups seeking a supportive environment to thrive and make a lasting impact on the global stage. Entrepreneurs, both local and international, are finding opportunities to contribute to Italy’s vibrant and dynamic startup landscape.
Is Italy good for startups?
Italy has increasingly become a favorable environment for startups, with several factors contributing to its attractiveness for entrepreneurs and investors:
Growing Startup Ecosystem: Italy’s startup ecosystem has been steadily expanding, especially in cities like Milan, Turin, and Rome. The country has seen a surge in the number of startups across various industries, showcasing its potential for innovation and entrepreneurship.
Government Initiatives: The Italian government has introduced several initiatives to support startups. Programs like “Smart and Start Italia” provide financial support in the form of government loans to young startups, fostering their growth and development.
Venture Capital Funding: The availability of venture capital funding has been on the rise. Italy has witnessed an increase in investment activity, indicating growing confidence from investors. Funding rounds for Italian startups have been notable, with both domestic and international investors participating.
Startup Visas: The introduction of startup visas demonstrates Italy’s commitment to attracting foreign talent. These visas aim to encourage non-EU entrepreneurs to establish and grow their businesses in Italy, contributing to the diversity and innovation of the startup ecosystem.
Incubators and Accelerators: The presence of startup incubators and accelerators has been growing, providing valuable resources, mentorship, and networking opportunities for emerging companies. This infrastructure supports startups in their early stages, helping them navigate challenges and scale.
Industry Diversity: Italian startups span various industries, including technology, finance, healthcare, and renewable energy. This diversity showcases the country’s ability to foster innovation across different sectors, creating a dynamic and resilient startup landscape.
Focus on Sustainability: Some Italian startups, particularly in CleanTech and renewable energy, emphasize sustainability. This aligns with global trends and positions Italy as a player in the green economy, attracting environmentally conscious entrepreneurs and investors.