Milan. A modern city that oozes innovation, the Italian capital of fashion and design, and, home of the Italian Stock Exchange. It’s a city that welcomes and embraces new trends, nurturing and fostering fresh innovations and ideas.
It is the Italian city where culture brings more wealth and work, in fact, it is also an important university centre with internationally recognized institutes (Bocconi, IULM, Cattolica, Politecnico) and this does nothing but advocate Milan as Italy’s major startup hub. Reflecting this, it’s got the most coworking spaces in Italy and is nestled in the heartland of Italy’s industrial region – synonymous with heritage and hustle.
In 2016 the Financial Times elected Milan as the Italian capital of startups and in recent years the city has also been able to capitalize on the experience of Expo 2015, which has successfully propelled Milan’s startup ecosystem to the world stage. Prestigious multinationals have also chosen Milan as their Italian homes, with hubs for the likes of Microsoft, IBM, Google, Deloitte, Adecco and Gartner all found in the city.
Milan welcomes plenty of healthy investment – it has closed the first half of 2022 with a total of €957 million invested – more than double that seen in the first half of 2021, showing growth of over 123%! Just last week we saw a new Milan-based unicorn emerge as Satispay raised €320 million at a €1 billion valuation.
So, needless to say, Milan’s startups deserve some time in the spotlight. Here are 10 startups we think you should keep an eye on in the future. They are all startups born from 2019 onwards that have realized an innovative idea in the effervescent Milan.
Scalapay: Founded in 2019, Scalapay is a fast-growing startup that has developed a credit payment method that allows users to purchase and pay over instalments without interest. The flexi-pay option increases the likelihood that the customer purchases immediately, increasing the conversion rate and the average cart amount. It makes online ordering more accessible and helps consumers spread out the cost of their purchases. Scapalay already raised about €727.5 million to date – securing €40 million in 2021. In a world where people are increasingly looking for more purse-friendly ways to pay, it seems like a bright future is ahead for this fintech firm.
Macai: Founded in 2021, Macai offers thousands of high-quality products delivered to your doorstep in a matter of minutes. Founded by Giovanni Cavallo, serial entrepreneur with a deep background in food delivery, it is the first Italian player in the q-commerce space. The startup now operates in several Italian cities, defining itself as a full grocer in the q-commerce space, a second-generation player offering up to 7,500 SKUs. The team selects products from new producers from all over Italy, to enable consumers to discover new flavours and empower small business owners. It does also offer the products of the big brands. Macai has raised about €3 million so far – putting €2.6 million in the bag last year to launch.
Babaco Market: Green-food-tech startup founded in 2020, Babaco Market is a subscription with which you receive out-of-the-ordinary fruit and vegetables at home. Products that do not exceed at beauty contests tend to be thrown out and tossed aside – which is a tremendous waste. Babaco is taking on this waste and instead, offers these less-pretty but still worthy vegetables and fruits to be conveniently delivered- bringing food goodness for planet good. The team carefully selects Italian producers to partner with, favouring those with a passion for protecting sustainable cultivation. Babaco Market has picked up €2.4 million.
Jobtech: Jobtech is an agency for fully digital work founded in 2020, it is the first and only in Italy, designed around the relationship between worker and company. Jobtech operates through 3 main Human Resources service lines: Research and Selection, Personnel Administration, Internship Activation and Internships. Jobtech is also able to offer specialized and customized services of Training and Outsourcing of HR Functions. Jobtech stands out from the competition thanks to proprietary technology that guarantees a high standard of quality and a maximum speed of service at a very competitive cost. Jobtech is also active in the creation of specific talent pools through a growing portfolio of vertical portals specialized in different sectors. This Milan-based startup has now raised €1.8 million.
Vedrai: Founded in 2020, Vedrai is a Virtual Agent Development Company that, thanks to artificial intelligence models, allows users to simulate the impact of decisions on business results before they are taken. Vedrai was created to help entrepreneurs make more informed decisions, making those sleepless nights where people couldn’t decide the best decision for their company a thing of the past. Their team of over 80 people, made up of data experts, IT specialists, business analysts and market analysts, helps in providing you with the support needed, to make better choices and regain control of your time. Vedrai has raised about €45 million.
Serenis Health: This mental-health startup was founded in 2021 to offer psychotherapy, coaching and psychological support via video call. They believe that the internet can be a valuable tool in democratising access to mental health support. At the same time, they want to ensure that it’s quality care that is being provided online. So, the startup harnesses the power of the two together using data and digital tools to improve the effectiveness of therapies. Unlike other platforms, they are also a medical centre: it means that they are accountable for the quality of the care and that they must respect the same standards of any clinic. Every patient can count on them from the beginning to the end of the journey, and the same goes for every therapist.
Cosmic: Cosmic is a tech startup that provides creators with a space to produce short videos and post them on TikTok and Instagram, it was founded in 2021. Crossing the universe of media advertising to conquer short-form content planets with a special focus on TikTok. Thanks to a super powerful team of creative ‘astronauts’ who use technology and navigate creative trends, the startup offers modern viral hype solutions to their brand partners. They are a team of professionals who have been working in the digital sector for more than 15 years, working in contact with and supporting Generation Z, an integral part of their team. They love new ways of communicating: studying them, knowing them, understanding them, and knowing how to apply them according to the brands’ objectives.
Lampoo: Founded in 2019, Lampoo is a startup that tries to give a future to fashion. Lampoo platform provides its customers with a new way to shop responsibly by choosing quality second-hand luxury pieces over new ones, helping to build a more sustainable future for fashion by extending the life cycle of every product they sell. The platform allows users to sell pre-loved items quickly and easily, and an online marketplace where users can shop the highest quality authenticated luxury fashion and accessories at fair prices. Lampoo brings to life the thrill of second-hand luxury through an experience that has never been so fast, easy and rewarding. Lampo has raised €8.3 million.
Up2You: Founded in 2020, this startup helps companies reduce and compensate their emissions and to communicate their engagement to their stakeholders. They are an innovative B Corp certified company that promotes sustainable development by helping people and companies reduce their environmental impact and zero CO emissions. The goal is to encourage sustainable actions by creating a business model for companies that has a zero impact on the environment. They do that by providing their customers with products designed specifically to make their business more sustainable. In addition, they are the only company in Europe that, in addition to being authorized to manage VERRA and Gold Standard certified Carbon Credits, does so using the Blockchain. This is with the aim of ensuring ever more transparency, security and reliability. Up2You has so far raised €200k.
Mirta: Founded in 2019, Mirta is the digital showroom that connects contemporary brands with independent curators – such as retail shops, online stores and influencers. Mirta’s mission is to revolutionize the way high-end brands and retailers sell and buy wholesale. Mirta’s marketplace allows the curators to find new brands, choose products and buy them online. The company offers attractive benefits to users, including no minimum order, net 60 days payment terms and free returns. Mirta brings the advantages of B2C ecommerce to the B2B world and also provides brands with an order management back office, Mirta Officina, which permits them to manage their orders, e.g., shipping, invoicing, custom procedures, payments access to data and analytics. Mirta has so far raised €5 million.
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!
