September 2020

Venture capital All rounds in the first 8 months of 2020

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 1 In the first eight months of 2020 there were 181 investment rounds, of which 103 rounds concluded by venture capital investors in the broad sense and 78 rounds concluded through equity crowfunding campaigns (net of real estate campaigns). All for a total of 420 million euros invested by venture capital funds, investment holding companies, corporate venture capital, business angels and crowdfunding equity platform crowdfunding crowdfunding crowdfunding crowd, but also by venture debt funds and other lenders, including banks. Excluding the latter, venture capital raised in total 364 million euros.

Focusing on the first six months of 2020 alone, 138 investment rounds were counted, including 78 rounds concluded by venture capital investors in the broadest sense and 60 rounds concluded through equity crowfunding campaigns (net of real estate campaigns). Excluding the latter transactions, which in the first half of the year were reduced to only e 5 million of Casavo's minibonds subscribed by Amundi's private debt fund (see other article of BeBeez), it fell to e 259 million.

In the first half of The data come from BeBeez Private Data (the BeBeez database available on subscription, click here for the year, information and an upgrade of your BeBeez News Premium subscription) and from Italian startups CrowdfundingBuzz (published by EdiBeez srl as BeBeez). On the latter front, in particular, 60 campaigns were successfully completed in the six months, net of real estate, for a total of 28 million euros. Of these and scaleups 60 campaigns, 11 collected at least 500 thousand euros, for a total of 18.15 million euros. announced 113 investment rounds The figure of 264 million and 138 rounds in total compares with that of 2019 as a whole, when BeBeez had mapped 244 rounds for a total of approximately €605.6 million, up sharply from €510 million, for 259 million spread over 179 companies, registered in 2018 (see BeBeez's 2019 Venture Capital Report here). euros, up from 510 million The first six months, therefore, highlighted the full weight of the Covid-19 pandemic that held back harvesting operations. The trend was also highlighted by the Vem Report of the Liuc University of euros in 2018 Castellanza, which calculated that in the six months overall venture capital and corporate venture capital invested € 119 million out of 36 rounds, syndication activities between venture capital, corporate venture capital and business angels recorded investments of € 98 million out of 21 operations and business angels alone invested € 31 million in 31 rounds. The total of these activities brings the early stage chain, according to Vem, to have invested 248 million euros out of 88 rounds (see BeBeez article).

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 2

It should be noted, however, that 17 companies collected rounds of at least 3 million euros, for a total of 177 million euros. Of these, 5 startups raised over 10 million euros, for a total of 116 million, but a large part is represented by Progetto Banca Idea, the fintech banking startup promoted by Roberto Nicastro, which alone raised 45 million euros (see BeBeez article). By 2019, however, 31 companies had raised at least 3 million euros in investment rounds, for a total of 491 There are million euros . Of these, 7 had raised over 20 million euros each in the year. Also in 2018 the total 17 companies number of startups and scaleups with rounds over 3 million euro had been 31, but had raised 408 million that have collected at euro. In 2017, however, only 13 startups had collected at least 3 million rounds for a total of €110 million. least 3 million euros in investment rounds At the turn of July and August, however, a certain recovery in the collection activity of Italian startups during the six-month and scaleups was noted, with 25 rounds mapped by BeBeez, for a total of 156 million euros in capital raised, to which must be added 18 crowdufunding equity campaigns (net of real estate campaigns) period. Another 12 did successfully concluded, which raised a total of 6 million euros (source: CrowdfundingBuzz). Of these so between July and new campaigns, 4 have raised more than 500 thousand euros, for a total of 3.3 million euros. August It should be noted, however, that of the total of 156 million, over 51 million is represented by capital raised in the form of debt. In particular, these are the 30 million euros of new finance that the e-Novia startup factory has secured, of which 21 million in bonds converted and 9 million in bank credit lines (see BeBeez article); 15 million euros collected from the scaleup of the new space sector D-Orbit, which has secured financing from the European Investment Bank (see BeBeez article); 5.85 million euros in a credit line granted by Banco Bpm to ArteOlio (see BeBeez article); and 500 thousand euros in bonds converted by Sealance, the producer of the DeepSpeed marine electric motor (see BeBeez article).

It should also be noted that between July and August, 12 startups announced rounds of over 3 million euros and four of them raised at least 15 million euros. On the podium of the equity collection is Enthera, a biotech company dedicated to the development of new therapeutic approaches for diabetes and gastrointestinal diseases, which grossed a round of 28 million euros, led by Sofinnova Partners and AbbVie Ventures.

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 3 This was followed by Innovheart, a company developing new mitral valve replacement systems, which closed a €20 million round, led by Genextra, Panakes Partners, Cdp Venture Capital and Indaco Venture Partners (see BeBeez article). And if we also consider the capital raised in the form of debt, then it was e-Novia, with its 30 million euros in bonds and credit lines, that beat all of them, as mentioned above.

Finally, a certain m&a activity on the startups financed is worth mentioning. In particular, by far the most important transaction was the one announced at the beginning of June on Tannico, with Campari Group taking over 49% of the well- known e-commerce platform dedicated to wine in Italy for 23.4 million euros in cash (see BeBeez article). Campari Group acquired 39% of the capital of Tannico from the founder Marco Magnocavallo and the investors P101 sgr and Box srl and simultaneously subscribed a reserved capital increase to reach a total stake of 49%.

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 4 Notes: * US dollars (dollar-euro exchange rate 1.10); **new investors in bold; previous investors who participated in the last round in bold and italics.

Venture capital operations on Italian companies (or founded by Italians) in the first half of 2020 Total capital Last round Last Company Type of activity Founders Investors raised Article date round (millions of euros) 360 Capital Partners, Banca Agricola Popolare di Ragusa scarl, Banca Ifis, Banca Sella Holding, Close to Media srl, Von Furstenberg family, Generali Assicurazioni, Istituto Atesino di Sviluppo spa (ISA), Progetto Banca Online credit Federico Sforza, Micheli e Associati, Sergio Bommarito,

Idea spa 30/06/2020 activities Roberto Nicastro business angel, Other investors 45,000 45 BeBeez Smart logistics that can adapt the delivery Boox srl, WorkWave, 360 Capital Partners, service to the needs of P101 (P101 sgr), Vertis Venture 2 Scaleup the individual Antonio Perini, (Vertis sgr), Italia 500 (Azimut Libera

Milkman spa 25/05/2020 customer Tommaso Baù Impresa sgr), Poste Italiane spa 25,000 32,7 BeBeez Claudio Costamagna, Davide Malacalza, Development of Giovanni Savio, Equiter spa, Eraldo Bianchessi, Gaudenzio Planet Smart City affordable housing Susanna Roveda, Ruben Levi, Stefano Buono, Elysia

ltd 16/01/2020 estates Marchionni Capital srl, Others investors 24,000 30,5 BeBeez Systems for facilitating access for Frank Strauss, Giovanni Daprà, H14 spa, Ott companies to bank Kaukver, Roberto Nicastro, Taavet Hinrikus, client information for HV Holtzbrinck Ventures, Local Globe,

Yapily Ltd. 07/04/2020 customers Stefano Vaccino Lakestar 13* 16,8 BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 5 Total capital Last round Last Company Type of activity Founders Investors raised Article date round (millions of euros) Web platform that Club degli Investitori, Endeavor Catalyst, R301 allows anyone to Capital, business angel, members of Italian order groceries from Angels for Growth 360 Capital Partners, FII their favourite Tech Growth (Fondo Italiano d'Investimento S24 spa supermarket and sgr), Innogest II (Innogest Capital sgr), Dip

(Supermercato24) 03/02/2020 receive them at home Enrico Pandian Fund 1 11,000 27,8 BeBeez Software to support business intelligence activities based on

IGenius srl 31/03/2020 artificial intelligence Uljan Sharka business angel 11* 22 BeBeez Lorenzo Dal Investment vehicle in Verme, Luigi

Fin-novia 10/03/2020 e-Novia Bruno BackToWork crowd 7,650 7,650 BeBeez business angel, investment holding company Startup investment and employees, Politecnico di Torino and

LIFTT 24/04/2020 holding company Stefano Buono Compagnia di San Paolo (Links Foundation) 7,200 9 BeBeez L Venture, Barcamper Ventures (Primomiglio Managing a sgr), Italy Venture I (Cdp Venture Capital community of Chiara Russo, sgr),Barcamper Ventures Lazio, Ita500,

Codemotion srl 08/04/2020 software developers Mara Marzocchi Programme 102 (P101 sgr) 6,000 10 BeBeez Production of devices Andrea for the remote Verdelocco, Luiss Enlabs, Boost Heroes (former Shark management of Elisabetta Mari, Bites), Italia Venture I (Cdp Venture Capital company fleets and Filippo Agostino, sgr), Italian Angels for Growth (IAG), L

2hire srl 04/02/2020 car fleets Matteo Filippi Venture 5,600 >5,6 BeBeez Chain of restaurants inspired by Californian fish Matteo Pichi, Other investors, MIP I (Milano Investment

Poke House srl 28/06/2020 cuisine Vittoria Zanetti Partners sgr) 5,000 5 BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 6 Total capital Last round Last Company Type of activity Founders Investors raised Article date round (millions of euros) Amundi Progetto Italia (minibond investor), 360 Capital Partners, Boost Heroes, Greenoaks Capital, Kervis Asset Management, Marco Pescarmona, Picus Capital, Project A Venture, Real estate trading Rancilio Cube, other investors (including Casavo 12/02/2020 web platform Giorgio Tinacci venture debt) 5 100 BeBeez Software for quality control and problem- Edoardo solving of new apps Vannutelli, Filippo Club Italia Investimenti 2 , Investors' Club, before they go on the Renga, Luca Digital360, Italian Angels for Growth (IAG),

AppQuality srl 25/05/2020 market Manara Ita500, Programma 102 (P101 sgr) 3,500 3,9 BeBeez B2B e-commerce Davide Marchesi, portal for the supply Gian Carlo of food products to Cesarin, Ivan Business angel, Cdp Venture Capital sgr, restaurants directly Litsvinenka, Italy 500 (Azimut Libera Impresa sgr),

Soplaya srl 28/02/2020 from manufacturers Mauro Germani Programma 102 (P101 sgr) 3,500 nd BeBeez Management of microsatellite terrestrial Jonata Puglia, Como Venture srl, Key Capital, Polihub srl,

Leaf Space srl 24/06/2020 communications Matteo Boiocchi RedSeed srl, Whysol Investments 3,400 6 BeBeez Private investors, Zlatan Ibrahimovic, Alessio Romagnoli, Andrea Bertolacci, Ignazio Dante Medical Food supplement Abate,Leonardo Bonucci, Massimo

Solutions srl 22/06/2020 production Giorgio Pautrie Ambrosini, Mattia Perin, Salvatore Sirigu 3,000 4 BeBeez Online platform for self employment Enrico Mattiazzi, management Fabio Ciotoli, Vito

Fiscozen srl 16/03/2020 Lomele UV2 (United Ventures sgr) 3,000 3 BeBeez Last round Last Total Company Type of activity Founders Investors Article date round capital

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 7 raised (millions of euros) Flora Caroli, Luca Application of virtual Ferrari Trecate, FocusFuturo srl, Italian Angels for Growth reality to e-commerce Matteo Esposito, (IAG), Private investors, Liftt srl, Mainardo

InVRsion srl 30/04/2020 sites Paolo Pascolo de Nardis 3,000 5,7 BeBeez Niccolo Lapini, Mattero Cricco, Plug and Play Ventures, Rovagnati, Delivery of meals to Niccolò Ambrosi, Giacomo Perotta and other

Bella&Bona 30/01/2020 offices. Ferragamo investors 3* >3* BeBeez Club degli Investitori, Como Venture srl, Elysia Capital srl, Indaco Ventures 1 (Indaco Venture Partners sgr), Italia Venture I (Cdp Venture Capital sgr), Noosphere Ventures, Nova Systems for the safe Capital, Seraphim Capital, TT Venture (Green removal of artificial Arrow Capital), Crowdfunding conducted on

D-Orbit spa 06/03/2020 satellites from orbit Luca Rossettini ClubDealOnline platform 2,600 6,6 BeBeez Production of extra virgin olive oil of the Other investors, Duncan Niederauer, Keith

Manni Oil 25/06/2020 highest quality Armando Manni Stoltz 2,600 2,6 BeBeez E-commerce of fashion accessories Ailati Technology and handmade Ciro Di Lanno,

srl (MIrta) 17/04/2020 clothing Martina Caprotti Alberto Genovese, Other investors 2,500 2,5 BeBeez Online management Alessandro Seina, of a network of Giacomo Piva, Vertis Venture 2 Scaleup (Vertis sgr), Vertis

BagBnB 14/01/2020 luggage storage points Giulio De Donato Venture 4 Scaleup Lazio (Vertis sgr) 2,500 >2,5 BeBeez Dham Anubhav, Federico Gonzalez Tejera, Online travel agency Flavio Del Bianco, Luca Carlucci, Alma for the organisation of Flavio Del Bianco, Mundi Ventures, Riccardo Martinelli, Other

Bizaway srl 06/02/2020 business trips Luca Carlucci investors 2,500 3,5 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 8 (millions of euros) Andrea Gattini, Francesco Locators and other Ceccherelli, electronic devices Giorgio Sadolfo, based on Bluetooth Stefania De Luiss Enlabs, L Venture, Pi Campus, business

Filo srl 09/04/2020 technology Roberto angel, Alpe Invest srl 2,500 3,1 BeBeez Amedeo Clavarino, Carlo Montenovesi, Giulio Advanced diagnostics Maleci, Marco Mocarelli, Della Beffa family, based on artificial Astanor Ventures, Neos Medica srl, Pi

Hyris ltd 11/06/2020 intelligence Stefano Lo Priore Campus 2,500 2,5 BeBeez Online management Alessandro Seina, LeanTeam srl of a network of Giacomo Piva, Vertis Venture 2 Scaleup (Vertis sgr), Vertis

(BagBnB) 14/01/2020 luggage storage points Giulio De Donato Venture 4 Scaleup Lazio (Vertis sgr) 2,500 2,5 BeBeez e-commerce platform dedicated to Made in Martina Capriotti

Mirta 17/04/2020 Italy artisans and Ciro Di Lanno Alberto Genovese, other private investors 2,500 >2,5 BeBeez Home delivery of Andrea Antinori, Crowd of CrowdFundMe, Private Investors,

Winelivery srl 24/06/2020 alcohol Francesco Magro Gellify 2,500 5,65 BeBeez A. Arrigo, C.Zamboni, F. Nalucci, F. Milano d'Aragona, G. Galimberti, G. Ferrarini, M. Big data analysis in Belmondo, M. support of marketing, Prelz, M. Arte, sales, publishing and N. Colla, U. Other investors, Nerio Alessandri, UV2

Datrix spa 21/05/2020 finance Pastori (United Ventures sgr) 2,300 2,3 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 9 (millions of euros) Electronic medical Alessandra Farris, devices for the Antonio Pinese, The Net Value srl, Vertis Venture 3 Tech

IntendiMe srl 28/05/2020 treatment of deafness Giorgia Ambu Transfer (Vertis sgr) 2,300 3 BeBeez P2P lending to private Pietro Casati and 12/02/20 Crowd of 200Crowd and private 2,2 6,6

Soisy individuals Andrea Sandro BeBeez Production of Club degli Investitori, Stefano Gaetani, Walter cosmetics sold only Angelo Muratore, Ricciotti, business angel, Luiss Alumni 4

Skinlabo srl 16/04/2020 on the web Carlo Tafuri Growth, Maire Investments spa 1,700 3,55 BeBeez Investment holding company in innovative companies operating in the Crowd of CrowdFundMe, Bio4Dreams, other

Biovalley 31/01/2020 BioHighTech sector Diego Bravar investors 1,655 8,255 BeBeez AI/IV-based methods Fabio Mondini, Business angel, Italia Venture Datafalls srl of profiling clients I (Cdp Venture Capital sgr), Italian Angels for

(BigProfiles) 10/02/2020 and their behaviour Lorenzo Luce Growth (IAG), L Venture, 1,500 2,1 BeBeez App to manage the Francesco work in the field for Putignano, the realization of large Emanuele MelaWork 15/06/20 projects Zamponi 360 Capital Partners, TechStarts 1,5 1,5 BeBeez Customisable knee Gian Guido Riva, Crowd on the Doorway platform, Italian

Rejoint srl 21/01/2020 prostheses Lorenzo Riva Angels for Growth (IAG) 1,350 1,35 BeBeez "Breadbar" bakery with drinks and wine Pasquale Polito

Forno Brisa 28/02/20 offer and Davide Sarti Crowd of Mamacrowd 1,200 >1,2 BeBeez Alessandro Davide Dattoli, Francesco Fumagalli, Information and news Tommasi, Imen Invictus Capital Llp, Mega Holding, Rancilio Will srl 14/04/2020 on Instagram Boulahrajane Cube 1,200 1,20 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 10 (millions of euros) Matteo Carbone, Pietro Menghi, business angel, Club deal coordinated by Mezzetti Advisory Andrea Silvello, Group, Gruppo Net Insurance spa, Luiss

Neosurance srl 07/04/2020 insurtech Dario Melpignano Alumni 4 Growth 1,100 2,1 BeBeez Italian chain of Marco Santini, restaurants with Marco Lampitelli integrated play area and Roberto

Benvenuto 28/02/20 dedicated to children Pasciucco Crowd of Mamacrowd 1,040 >1,04 BeBeez Advising companies Antonio Fornari, AzzurroDigitale on digital Carlo Pasqualetto, Alessandro Rimassa, Francesco Beraldi,

srl 05/03/2020 transformation Jacopo Pertile Gianmario Tondato da Ruos 1,000 1 BeBeez Giovanni Zobele, Harald Oberrauch, Development of Hermann Hauser, Mauro Cogoli, Michele Immagina molecular biology Maximilian Gubert, Stefano Rossi - Trento, TBA-Tyrolean

Biotechnology srl 09/03/2020 research models Clamer Business Angel GmbH, Other investors, 1,000 1,5 BeBeez Letisan srl e-commerce of Alexander

(Rocketbaby) 27/01/2020 articles for children Jovanovic Ad4Ventures spa, Private investors 1,000 1 BeBeez Purchase of houses before they end up in

Salvacasa sbrl 11/03/2020 a court auction Cesare Rosati Private investors 1,000 1 BeBeez Technology for

Arco FC 07/02/2020 electric vehicles Angelo D'Anzi Crowd of CrowdFundMe 1,000 >1 BeBeez Alessandro Empathic virtual Monterosso, Filip assistant for patients Ivancic, Kumara involved in clinical Palanivel and UVCAP, Healthware Ventures, Padda Health,

PatchAI 24/01/2020 trials Daniele Farro Avalanche Investments, business angel 0,860 >0,86 BeBeez Geo-localised audio

Loquis 31/01/2020 content Bruno Pellegrini Crowd of Mamacrowd 0,824 >0,824 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 11 (millions of euros) Production of Giorgio Dell'Erba, electronic circuits Italian Institute of with low Technology, Mario Fleep environmental impact Caironi, Paolo Investors' Club, Cogliati family, Italian

Technologies srl 08/05/2020 processes Colpani Angels for Growth (IAG), Pariter Partners 0,800 0,8 BeBeez Antonello Sannia, Marco Amoroso, Marco Colturi, Hub of innovative Giorgio Giacomo startups and an Berlusconi and Bluesky Angel investment club for other private Crowdfun

Lab 31/03/2020 innovative projects partners Crowd of Opstart 0,750 >0,75 dingBuzz Advanced digital solutions for the food Massimo Crowd of Mamacrowd, Galileo Visionary Crowdfun

Ez Lab 15/06/2020 industry Morbiato District and other investors 0,740 >0,74 dingBuzz Video identification and video signature

Visabit 20/01/2020 solutions Massimo Merlino private investors, ARC Group 0,646 >0,646 BeBeez Manufacturer of high- Mazzanti performance racing Crowdfun

Automobili 11/06/2020 and collector's cars Luca Mazzanti Crowd of CrowdFundMe 0,610 >0,61 dingBuzz Digital service to save on the management of Marco Tricarico, utilities and Redi Vyshka and business angel, Cenciarini & Co, Smart&Start

Switcho 13/01/2020 subscriptions Francesco Laffi (grant) 0,580 >0,74 BeBeez Antonella Grassigli, Marco Michelini, Donato Equity crowdfunding Montanari and

Doorway 18/05/2020 platform Federica Lolli private investors 0,500 >0,5 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 12 (millions of euros) CrowdFundMe, Andrea Dusi, Club degli Investitori, Digital Magics spa, Embed Capital, Epta spa, Futuro Investimenti, Giorgio Production of Ponticelli, Mega Holding, Metrica Ventures, advanced technology Pariter Partners, Pyramid, Tommaso Magnani,

FrescoFrigo 12/06/2020 vending machines Enrico Pandian Wonder spa. 0,500 2,46 BeBeez Luca Ferrero, Offers turnkey e- Carlo Tafuri and LIFTT, foreign investors,

LetSell (B4D srl) 22/05/2020 commerce sites, Michele Contrini Brandsdistribution.com 0,420 >1,17 BeBeez Giuseppe Vegas, Valeria Lazzaroli, Guido Perboli, Software for risk Beppe Di Sisto,

Arisk 18/05/2020 assessment Vittorio Pizzorno Finpiemonte (grant) 0,350 >0,35 BeBeez

Omecs 05/02/2020 Organic cosmetics Armando Roggero Banca Azzoaglio (financing) 0,350 >0,35 BeBeez Support platform for medium-large consumer goods companies in home delivery from e- Paolo Broglia and

Japal 09/04/2020 commerce Jacopo Moschini private investors, OpStart crowd 0,300 0,355 BeBeez app to make combat Nicolò sports training Parternoster, interactive and Simone Carcone Barcamper Ventures Lazio and Barcamper

Punchlab 25/05/2020 personalised and Valerio Raco Ventures, Luiss Enlabs 0,300 >0,3 BeBeez App that translates restaurant menus into Giuliano Vita and

Dishcovery 14/01/2020 all languages Marco Simonini Barcamper Ventures, crowd of 200Crowd 0,255 0,381 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 13 (millions of euros) Italian-US startup that has developed deep Anatoli Gorchet, Antares Vision, Pelion Venture Partners, 360 learning algorithms Heather Ames, Capital Partners, TechStars, Indinvest Partners, applied to visual Massimiliano Draper Associates, Motorola Solutions, Sherpa Neurala 31/07/2020 inspection technology Versace Capital e Haiyin Capital 0,291* 20,1* BeBeez Solution to the problem of difficult

Medsniper 21/05/2020 intubation Andrea Mazza Investor Club, I3P 0,200 0,200 BeBeez Solution to measure the amount of water Luca Stevanato, stored in the soil with spin-off University

Finapp 30/06/2020 cosmic rays of Padua Progress Tech Transfer 0,200 >0,2 BeBeez Alessio Boceda Francesco Inguscio, Andrea Dusi, Enrico Italian startupper and Giulia Pandian, Roberto Sfoglietta and other

Startup Geeks 09/06/2020 community D'Amato private investors 0,170 >0,17 BeBeez Production of 3D printing machinery

3DNextech srl 16/04/2020 and equipment Andrea Arienti A11 Venture nd nd BeBeez Spin-off of the Production of universities of innovative polymeric Modena and materials for 3D Reggio Emilia and

MAT3D 07/02/2020 printing Parma Progress Tech Transfer Fund nd nd BeBeez Platform for provision and management of corporate welfare

Beneficy srl 29/05/2020 services Gianluca Moretto Teamsystem spa nd nd BeBeez Massimiliano Artificial intelligence Squillace and other Mauro Del Rio, Ulixes Capital Partners,

Entire Digital 17/01/20 publishing members Mamacrowd crowd, other investors nd >1,2 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 14 (millions of euros) Angelo Lombardo and Luigi Naldini, from Fondazione Telethon and San

EpsilenBio 21/04/2020 Biotech Raffaele Hospital Sofinnova Telethon Fund nd nd BeBeez Flower Burger

(Tobeme srl) 08/01/2020 Burger chain Matteo Toto Good Ventures nd nd BeBeez Giovanni Chiarella, Pietro Digital Marketing and Mensi, other

FutureVox 15/06/2020 Communication members Redelfi nd nd BeBeez Production of high quality artisan ice Alessandro

Gelato Club 16/01/2020 cream Nunziante Quadia nd nd BeBeez Luigi Naldini, from Alessio Cantore, Telethon Foundation, San

Genespire 21/04/2020 Biotech Raffaele Hospital Sofinnova Telethon Fund nd nd BeBeez Extracts from vegetable fibres that Francesca reduce the glycemic Varvello, Franco Ceresio Investors, Club deal organised by

Heallo srl 14/02/2020 response to food Varvello Ceresio Investors nd nd BeBeez Devices to control the oscillation of buildings in the event

Isaac srl 15/05/2020 of an earthquake Alberto Bussini 360 Capital Partners nd nd BeBeez mathematical algorithms to support

Loopus srl 15/05/2020 machine learning Daniele Ielmini 360 Capital Partners nd nd BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 15 (millions of euros) Development of materials for 3D Chiara Manicardi,

Mat3d srl 07/02/2020 printing Giampaolo Melli Progress Tech Transfer (MIto Technology) nd nd BeBeez Software for tracking the progress of work Francesco

Mela Works srl 15/05/2020 on construction sites Putignano Techstars, 360 Capital Partners nd nd BeBeez Spin-off of the University of Modena and Reggio Emilia, Carlo Pincelli, Alessandra

Pincell 21/04/2020 Biotech Marconi Sofinnova Telethon Fund nd nd BeBeez Online platform for Boost Heroes, Michael Bristow, Pi Labs, equipment and Andrea Guzzoni, Stelios Haji-Ioannou, Italian Angels for

Rentuu ltd 22/06/2020 machinery rental Dennis Helderman Growth nd nd BeBeez Online training platform for secure Andrea Scaduto,

Secureflag ltd 20/05/2020 software developers Emilio Pinna Gellify nd nd BeBeez Alexander Frizzi, Matteo Riffeser Monti, Mattia Online sale of Lobertini, Micael

Tate srl 10/06/2020 electricity and gas Saillen, Nanabianca, Eni Gas and Luce spa nd nd BeBeez Device to reduce the oscillation of a building in the event of an earthquake 360 Capital Partners, PoliHub, Isaac 15/06/20 Alberto Bussini other investors nd >0,57 BeBeez Total Last round Last Company Type of activity Founders Investors capital Article date round raised

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 16 (millions of euros) 15/06/20 Analogic accelerator for machine learning operations and big Loopus data analysis Daniele Ielmini 360 Capital Partners, PoliHub nd nd BeBeez 15/06/20 Davide Zoni, Andrea Galimberti, Giovanni Scotti System on Chip in and William Lamp ambito cyber-security Fornaciari 360 Capital Partners, PoliHub nd nd BeBeez 15/06/20 Graphic engine based for AR and VR Amazing applications 360 Capital Partners, PoliHub nd nd BeBeez other non real estate crowdfunding 10,300 Total 259,19 329,57

Source: BeBeez Private Data - https://privatedata.bebeez.it and CrowdfundingBuzz - www.crowdfundingbuzz.it

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 17 Notes: * US dollars (dollar-euro exchange rate 1.10); **new investors in bold; previous investors who participated in the last round in bold and italics.

Venture capital operations on Italian companies (or founded by Italians) July-August 2020 Total Last Last capital Company round Type of activity Founders Investors Article round raised (Eur date mn) subscribers of the bond by converting 21 million (including Fin-novia) and bank of the 9 million credit line, 26 industrial and financial investors including Brembo, Dompè, Landi Renzo, Vincenzo Russi, Ivo Fassi, Dainese, Pelliconi, Streparava, Factory of Boniolo and Cristiano Eldor, Rubinetterie Bresciane, Mermec,

e-Novia 17/07/20 enterprises Spelta etc. 30,000 30 BeBeez Development of new therapeutic Sofinnova Partners, AbbVie Ventures, approaches for type BiovelocITA, JDRF T1 Fund, Indaco 1 diabetes and Venture, two private club deals gastrointestinal Paolo Fiorina and organised by Banor sim and Banca

Enthera 29/07/20 diseases Francesca D'Addio Profilo. 28,000 32 BeBeez Systems for Genextra, Panakes Partners, Cdp transcatheter mitral Venture Capital and Indaco Venture

InnovHeart 26/08/20 valve replacement Giovanni Righini Partners 20,000 20 BeBeez Solutions covering the entire life cycle Luca Rossettini and

D-Orbit 27/08/20 of a space mission Renato Panesi EIB (loan 15 million euro) 15,000 15 BeBeez WeSchool P101 sgr, fund Italia 500, Tim (formerly Digital class Ventures, Cdp Venture Capital sgr,

OilProject) 06/08/20 platform Marco Rossi Digital Club, Club Italia Investimenti 2 6,400 6,9 BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 18 Total Last Last capital Company round Type of activity Founders Investors Article round raised (Eur date mn) Production of Italian extra-virgin olive oil with highly innovative production methods Augusto Lippi , VERTEQ Capital, Banco Bpm (5.85

ArteOlio 26/08/20 and techniques Riccardo Schiatti mln euro loan) 5,850 11,35 BeBeez Cdp Venture sgr, Fondazione Sardegna, Carlo Mancosu, Primomiglio sgr, Innogest, Nice Group, Gabriele and Giuseppe Digital Investments, Innogest, Invitalia Commercial credit Littera, Franco Contu, Ventures I, Banca Sella Holding,

Sardex 24/07/20 circuit Piero Sanna Melpart 5,800 8,5 BeBeez Luxury craft e- Ippolita Rostagno and Olma Luxury Holdings, Nuo Capital,

ArteMest 06/08/20 commerce platform Marco Credendino Italian Angels for Growth, Bagheera 4,500 9,5 BeBeez Innovative all- Habyt (formerly inclusive housing P102, ITALY500, Picus Capital, Projects Co- solutions founded in Luca Bovone and business angel (including Florian

Living) 23/07/20 Berlin Giorgio Ciancaleoni Swoboda Jakob Maehren) 3,500 6 BeBeez Digital market Mauro Germani, Gian linking chefs and Carlo Cesarin, Ivan restaurateurs directly Litsvinenka and Davide P102, Italy 500, Cdp Venture Capital

Soplaya 10/07/20 to producers Marchesi sgr 3,500 3,5 BeBeez Web platform where clinical trials can be United Ventures, Pi Campus, crowd of

InSilicoTrials 28/07/20 carried out Luca Emili CrowFundMe, Startup Health 3,000 3,63 BeBeez Neva Finventures, Intesa Sanpaolo Simone Ranucci Vita, Barcamper Venture, Banca di Brandimarte, Gianluca Piacenza, Be Shaping the Future , Digital insurance de Cobell and Mansutti CRIF, Miro Ventures, Mansutti, Net

Yolo 15/07/20 broker spa Insurance, Neva Finventures 3,000 10 BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 19 Total Last Last capital Company round Type of activity Founders Investors Article round raised (Eur date mn) Production of footwear using eco- Gio Giacobbe and Crowd of Doorway, Boost Heroes and

ACBC 04/08/20 sustainable materials Edoardo Iannuzzi other investors 2,300 2,3 BeBeez Andrea Carmignani, Platform for Fabian Eberle, P102, Italy 500, Primomiglio sgr,Maire biometric Giuseppe Ateniese and Investments,LUISS Alumni 4 Growth,

Keyless 30/07/20 recognition Paolo Gasti international investors 2,2* 6* BeBeez Italian Angels for Growth, Gellify B2B digital Digital Investments, Seven marketplace for Investments, crowd of Doorway and

Deliveristo 23/07/20 catering Ivan Aimo other investors 1,500 1,5 BeBeez Publisher of the Crif, Gellify, B.Group, Federico WeWealth Ghizzoni, Gianni Franco Papa and

Voices of Wealth 31/07/20 publishing platform Fabienne Mailfait other private investors 1,500 2,3 BeBeez Online platform brings together hundreds of Fin Posillipo, Healthware Ventures

1000Farmacie 13/07/20 pharmacies Nicolò Petrone (formerly Esense Ventures) 1,500 1,5 BeBeez Production of low- invasive medical devices for the Enrico Pasquino, Investors' Club, Crowd of the restoration of cardiac Franco Osta, Marco Doorway platform, members of Italian

AorticLab 30/07/20 valvets Vola Angels for Growth 1,300 1,3 BeBeez Men's barbershop and related products B&C srl and accessories for MIchele Callegari, crowd of Mamacrowd, SAF Venture

(Barberino's) 06/08/2020 beard and hair care Niccolò Bencini srl, Net4Capital srl 1,250 1,75 BeBeez Home delivery service for high

cosaporto.it 08/07/20 category products Stefano Manili Innova Venture 1,200 1,2 BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 20 Total Last Last capital Company round Type of activity Founders Investors Article round raised (Eur date mn) Digital credit & risk Giorgio Valaguzza, Alessandro scoring platform Fracassi, Attilio Mazzili, Fernando using artificial Marko Maras and Paolo Spallanzani, Giacomo Sella, Italian

Fido 31/07/20 intelligence Mardegan Angels for Growth 1,100 1,1 BeBeez Marketplace that connects shipowners

Letyourboat 31/07/20 and travelers Walter Vassallo Ligurcapital and private investors 1,000 1 BeBeez crowd of Opstart, Directa sim, Private capital Davide Cigolini, Alessandro and Giovanpaolo Arioldi,

PMI Top 28/07/20 investment vehicle Alessandro Tesio Diego Zanchi 1,000 1,03 BeBeez Innovative medical device useful in remote rehabilitation Massimiliano Oliveri, Restorative of patients with spinoff University of

Neurotechnologies 28/07/20 cognitive disorders, Palermo Cdp Venture sgr and other investors 1,000 1,15 BeBeez Manufacturer of LigurCapital, Marco Rosetti, Agave glasses with special spinoff Italian Institute (Andrea Gatti), Municipality of Jehovah

Acoesis 20/07/20 acoustic sensors of Technology (IIT) (grant) 0,900 1,1 BeBeez Covid-19 emergency investment vehicles Azimut Sostieni in commercial

Italia 03/08/20 businesses in crisis Azimut Enterprises srl Mamacrowd crowd 0,613 0,613 BeBeez Manufacturer of private investors, CrowdFundMe crowd, DeepSpeed, electric minibond subscribers converting from

Sealence 26/08/20 jet for marine use William Gobbo 500k euros 0,500 0,95 BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 21 Total Last Last capital Company round Type of activity Founders Investors Article round raised (Eur date mn) Ecommerce of multi-category Roberto Ferrari, Paola crowd of 200Crowd, other private

DesignItaly 17/07/20 design products Serena investors 0,500 0,5 BeBeez Francesco Pinto, Lucia Fracassi, other Retail sector startup Antonio Ragusa and managers and entrepreneurs in the

Retail Hub 27/07/20 accelerator Massimo Volpe retail sector 0,200 0,2 BeBeez It uses cosmic rays spin off of the to measure soil University of Padua,

Finapp 17/07/20 moisture. Luca Stevanato Progress Tech Transfer 0,200 0,2 BeBeez Mattia Mor, Karin Owner of the format Fischer, Massimo Tech.Emotion - Redaelli, Alec Ross, Empower Human Claude Finckenberg, Potential, Thomas Schneider and

Emotion Network 26/06/20 international summit Gianluca D'Agostino U-Start nd nd BeBeez Innovative milanese SMEs that designs and produces sports Gionata D'Alesio, Innovative-RFK, Unicredit and other

Reaxing 31/08/20 equipment Roberto Frassinelli banks (€ 3 million loan) nd 5,5 BeBeez Other non real estate crowdfunding 7,900 Total 155,88 186,66 Source: BeBeez Private Data - https://privatedata.bebeez.it and CrowdfundingBuzz - www.crowdfundingbuzz.it

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 22

M&A operations on Italian startups or founded by Italians in the first half of 2020 Price Company Data deal Type of activity Members Investors Sellers Percentage (mln Article acquired euro) Marco Magnocavallo, P101 sgr, Box srl, Nuo Capital, Club E-commerce Digitale, Matteo de Barbant, platform dedicated Maurizio di Robilant and Stefano Marco Magnocavallo,

Tannico 08/06/20 to wine Saccardi Campari P101 sgr e Box srl. 49% 23,40 BeBeez Gabriele Sorrento, HTC Gabriele Sorrento, Sergio Vive, the Barcamper Interface for CAD Giorgio and Vittorio Bava, Ventures fund of design in virtual BaLab, HTC Vive, Barcamper Vection Primomiglio sgr and A11-

Mindesk 05/03/20 reality Ventures, A11-Venture Technologies Ltd* Venture 100% 5,00 BeBeez Innovative omni- channel platform

Xenialab 28/04/20 XCALLY Motion Diego Gosmar, I3P Ingo Diego Gosmar, I3P 100% 4,70 BeBeez Fulvio Gianetti, Lorenzo System to help Fulvio Gianetti, Lorenzo Magnarelli, Marco hotels sell their Magnarelli, Marco D'Amore, D'Amore, Riccardo Pirozzi rooms at the best Riccardo Pirozzi and Stefano and Stefano Sciamanna)

LybraTech 15/05/20 price Sciamanna) and LVenture Group Zucchetti and LVenture Group 51% 3,95 BeBeez B&C srl Men's barbershop Michele Callegari, Niccolò SAF Venture srl,

(Barberino's) 20/05/20 and related products Bencini Net4Capital srl R204 Partners minority nd BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 23 Percentage Company Data deal Type of activity Members Investors Sellers Article acquired Price Cristina Marino (65.5%), Vittorio Website of the Marino, Alessandro Paolo fitness influencer Gerbino, Dario Montagnese,

Befancyfit 25/02/20 Cristina Marino Zagir Luca Argentero Cristina Marino, Zagir 2% nd BeBeez Mobile Antonio Tomarchio, advertising,location Antonio Tomarchio, Filippo Filippo Privitera, Walter intelligence to Privitera, Walter Ferrara and Ferrara and William support marketing William Nespoli, Innogest sgr, Nespoli, Innogest sgr,

Beintoo 01/04/20 strategies TLcom Capital Partners Publitalia TLcom Capital Partners 100% nd BeBeez Apps to allow people to split their Giacomo De Lorenzo, online purchases Giacomo De Lorenzo, Michele Michele Giannotta, Reale into small monthly Giannotta, Reale Mutua Mutua Assicurazioni,

Moneymour 14/02/20 instalments Assicurazioni, Digital Magics Klarna Bank Digital Magics 100% nd BeBeez Constantin Wiethaus, Constantin Wiethaus, Milo Milo Zagari, Giulio E-commerce Zagari, Giulio Valiante and Ivan Valiante and Ivan De

PromoQui 19/95/20 discounts De Liguori Shopfully Liguori 100% nd BeBeez AI solutions, such as self-service Gabriele Antoniazzi, H-Farm, Knowledge Base Atalnte Seed Fund and other H-Farm, Seed Atlas Fund

Responsa 29/01/20 and chatbot, investors Euris and other minor investors 67,64% nd BeBeez Washing and sanitation services for cars and Christian Padovan, Andrea motorbikes at home Christian Padovan, Andrea Galassi and Alessandro

Washout 09/06/20 without water Galassi and Alessandro Morlin Telepass Morlin majority nd BeBeez

Notes: * investors in Mindesk become shareholders in Vection - Source: BeBeez Private Data - https://privatedata.bebeez.it

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 24

M&a operations on Italian startups or founded by Italians July-August 2020

Percentage Company Data deal Type of activity Members Investors Sellers Article acquired Price Cloud platform that allows small retailers, restaurants and Francesco Francesco Medda,

Scloby 09/07/20 shops to run their business Medda, I3P Zucchetti I3P 100% nd BeBeez Pluservice- Digital mobility and parking

MyCicero 06/08/20 ticketing platform Giorgio Fanes SisalPay Giorgio Fanesi majority BeBeez Alessandro Chelli Alessandro Chelli and Lorenzo Di and Lorenzo Di

Apio 26/08/20 Blockchain and IoT services Berardino Var Group Berardino 10% nd BeBeez Source: BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 25

M&A transactions on foreign startups in which Italian ventures hold interests Jan-Aug. 2020 Price Company Data deal Type of activity Members Investors Sellers Percentage (mln Article acquired euro) Multinational Vection software for digital HTC Vive, Barcamper Technologies transformation of Sidney Stock Exchange Ventures and A11- Vection Technologies

Ltd 05/03/20 industrial companies and other investors Venture Ltd (own shares) minority 5 BeBeez Erik Fairbairn, Peter Hiscocks, Legal & Erik Fairbairn, Peter General Capital, crowd Hiscocks, crowd di Provision of of CrowdCube, Draper CrowdCube, Draper charging points for Esprit, Barclays Bank, Edf and Legal & Esprit, Barclays Bank,

Pod Point 17/02/2020 electric vehicles AME Ventures General Capital AME Ventures majority nd BeBeez Andrew Hopkins, Karl Andrew Hopkins, Heeks and Klaus Karl Heeks and Klaus McDonald-Maie, various McDonald-Maie, international venture various international Performance and capital companies, venture capital security monitoring including Indaco companies, including UltraSoc 26/06/20 of on chip systems Ventures I Siemens Indaco Ventures I 100% nd BeBeez Source: BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 26 Notes: * US dollars ; ** pounds

M&A transactions on foreign startups conducted by Italian investors Jan-Aug 2020 Total Last capital Last Company round Type of activity Founders Investors raised Article round date (millions of euros) Dawn Capital, HMI Capital, Insight Partners, Poste Italiane, Swedish open banking Daniel Kjellén,Fredrik Heartcore Capital, ABN AMRO

Tink 23/01/20 platform Hedberg Ventures, Opera Tech Ventures 90,000 182,6 BeBeez Cloud and on-premise PostePay, Wavecrest Growth Volante payment and financial Venkat Malla, Uday Partners, BNY Mellon, Citi

Technologies 07/08/20 messaging solutions Thakur and Vijay Oddiraju Ventures, Visa Inc 35,000 BeBeez American startup Evergreen specialized in drugs for James Cook, Tomaso Club degli investitori, other

Theragnostic 24/06/20 teragnostics Spingardi international investors 19* 19* BeBeez Milano Investment Partners, Spanish flower e- Sergi Bastardas, Andrés P102, ITA500, Samaipata,

Colvin 26/06/20 commerce Cester and Marc Olmedillo AD4Ventures 14,000 24 BeBeez Groupe BPCE, Unicredit, Grupo Asgeir Orn Asgeirsson, Crèdito Agrìcola, Velocity Georg Ludviksson and Capital, Industrifonden &

Meniga 02/06/20 Digital banking platform Viggo Asgeirsson Frumtak Ventures 8,500 43,9 BeBeez Ambarish Mitra, Marco Paladini, Mikela Eskenazi

Greyparrot 31/07/20 Computer vision and Nikola Sivacki A2A Horizon nd 3,8** BeBeez

EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 27

The data in this Report are extracted from

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EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 28