10 promising Milan-based startups worth following in 2021 and beyond

At the beginning of the year, we introduced you to 10 of the most promising Italian startups to watch out for in 2021. Today, we’re zooming in on Milan, an economic heart of the country. The Italian city is also known for its thriving fashion industry, its famous cathedral, and, more importantly for this article, it recently made it into our annual ranking of Europe’s biggest startup hubs.

For this article, we’ve scouted exceptionally promising early-stage startups based in Milan, founded in the last 3 years, taking into consideration team size, funding, growth rate, innovation, and market size. Here are the 10 Milan-based startups to watch in 2021 and beyond:

BOOM is a hyper-growing tech startup that provides a platform to streamline the entire production of visual content, from booking to delivery for industries such as food, travel, real estate, and e-commerce. Since its founding in 2018, the team has raised nearly €10 million to help businesses grow with better visuals like photos, videos, floor plans, drone shots, plating, and more. BOOM costs less than manual production by cutting out unneeded steps using automation. Moreover, BOOM develops tools to facilitate the work of their network of photographers, helping them to keep track of their scheduled assignments and interact with all parties involved.

AideXa is an AI-powered and data-driven challenger bank that aims to help Italian SMEs streamline their banking and overall business operations. The fintech startup has raised over €45 million, backed by investors that include Generali Group, Banca Sella Group, and Banca Ifis. Their mission is to facilitate the work of entrepreneurs, building together simple, fast, transparent, and safe financial experiences with new technologies and opportunities offered by open banking. Customers can complete a loan request in 10 minutes and receive the amount in 48 hours.

PatchAi is a cognitive platform that champions patient engagement. It aims to transform clinical research into something more humane through technology. PatchAi’s intelligent virtual assistant uses evidence-driven conversational frameworks and flows to adapt personas matching patient compliance, preferences, and needs. It incorporates dynamic UX/UI to boost engagement based on behavioural data. The engagement algorithm predicts patient protocol compliance and drives prompt physician intervention. Founded in 2018, the startup has raised over €2.6 million to break the barriers between patients and doctors during clinical trials and their unmet needs between visits. 

CARDO AI uses artificial intelligence algorithms and advanced integrated platforms to provide access to institutional investors in high-yielding alternative digital lending assets. Founded in 2018, the startup has developed a cross-border investment platform that delivers standardized and normalized data, single deal transparency, a smart allocation system, portfolio creation functionality, reporting, and monitoring. CARDO AI offers to maximize portfolio diversification, standardized risk and return metrics, advanced optimization portfolio algorithms, and one integrated order rooting system to manage all the orders.

FrescoFrigo is a health food startup. Founded in 2018, the team has developed an intelligent fridge using predictive technology to allow customers to have, with a single tap, fresh and quality products designed for a convenient healthier lifestyle. By connecting a credit card to the app, customers can forget about lines and cash. FrescoFrigo has raised over €2.6 million to introduce a new retail concept that is small, intelligent, accessible 24/7 and healthy, all focusing on proximity for the customer. FrescoFrigo can be installed in offices, gyms, and hospitals to make healthy choices easier and convenient for all. 

Kampaay is an innovative event-as-a-service platform designed for the organization of both virtual and physical corporate events. Kampaay simplifies the organization process for all corporate events through an online ordering system, where customers can discover services for their location, drinks, food, bartending, staff, cleaning, and music. Launched in 2019, Kampaay has raised nearly €2 million to meet the needs of organizing teams building events, corporate aperitifs, promotional events for customers or partners, all both in-person and remotely.

Blink Last Mile is a sustainable same-day delivery service for eCommerce companies in Europe. Founded in 2020, the startup is backed by Y Combinator and is part of Techstars’ Smart Mobility Accelerator ’21 class. Earlier this year, the team raised €100K in a pre-seed round to provide customers with 2-hour delivery, and the freedom to choose a convenient time slot to receive their orders. The logistics startup delivers from their warehouses, the customers’ or the customers’ stores. To meet sustainability responsibilities, Blink uses cargo bikes and electric vehicles, and minimal packaging for their logistic and delivery processes.

Lokky is a technology platform for the insurance sector that offers tailored products for entrepreneurs. Founded in 2018, the insurtech startup has raised €2.3 million. Lokky analyses customer requirements and understands their real insurance needs, automatically identifying the right products to manage business risks. Focusing on freelancers and small enterprises, it provides a new approach to the insurance market. Lokky allows customers to do everything online in minutes. Lokky is also a tailor-made solution, with a broad range of customized insurance policies.

hlpy is a B2B2C startup providing digital roadside assistance. Through machine learning, artificial intelligence, and natural language processing technologies, hlpy puts different access channels at the service of the end customer to deliver the best customer experience. With a network of rescuers, the platform presents to the roadside assistance operator only the assistance closest to them through hlpy’s algorithms. hlpy’s business partners are insurance companies, car rental, online insurance distributors, and car manufacturers. Founded in 2020, the team has raised €1 million to reinvent roadside assistance.

Founded in 2019, Nibol acts as a platform to offer both employees and freelancers working spaces solutions across the main Italian cities. Their offering differs between B2B and B2C customers. B2B customers can guarantee an optimal service to their employees by allowing them to book desks, rooms, and many additional spaces within their owned facilities, everything can be done on the platform. Meanwhile, B2C customers have full access to a variety of spaces across the city, from hot-desk within the best-selected cafes to private rooms to host confidential and/or team meetings.

By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!