600M Italian AI Fund, Focoos AI, Yakkyo, Golden Power - September 5, 2023
Focoos AI, an AI optimization startup, raised €335k from CDP and Obloo. Yakkyo, a dropshipping platform, is 🇮🇹considering an IPO. The platform had revenues equal to €6.5m in 2022m with a 15.2% EBITDA margin. Do you remember the AI fund that was announced by the Italian government in May? The fund 🇮🇹will begin with €200m from the government and will be managed by CDP VC. Its aim is to raise up to €600m from private investors. The 🇮🇹problem of the Golden Power for Italian startups. 🇮🇹Reid Hoffman will be in Bologna on the 8th of September, giving a speech to the students of the Bologna Business School. Moneyfarm announced 2.6Bm under management and more than 100k customers, growing at 15% y-o-y.