Pisa, Nov. 15th, 2022 – Zerynth, the Italian startup, spin-off of the University of Pisa, that supports companies in digitizing production processes and developing connected industrial products through Industrial IoT solutions, announces a €5.3 million investment round led by United Ventures, the Italian venture capital fund specializing in investments in technology startups.
A pool of selected Italian and international investors and business angels, including Vertis SGR with Venture Factory through the VV3TT Fund, LIFTT and CDP Venture Capital with the “Comparto IndustryTech” of the Corporate Partners Fund, also took part in the capital increase, which stands as one of the largest rounds in Italy in the Industrial IoT field.
After raising 2 million euros in 2020 from the Vertis Venture 3 Tech Transfer fund, the first one launched under the joint platform between Fondo Europeo per gli Investimenti and Cassa Depositi e Prestiti “ItaTech,” with this new round Zerynth – which becomes S.p.A. from S.r.l. – brings the total capital raised to 7.3 million euros.
The funding will support the company’s domestic and international expansion for the next three years. Resources will also be invested to hire new talent and strengthen the team to support product development and enhancement, including the introduction of new features of the Industrial IoT app leveraging the opportunities of IoT and AI technologies; finally, part of the resources will be dedicated to establishing new strategic partnerships with major players in the industrial field.
“We are proud to announce this investment, among the largest in Italy in the industrial IoT field. It is a great recognition of the work done in recent years: with our solutions, we have enabled every piece of machinery – old and new, professional and industrial – to ‘speak’ the language of Industry 4.0 and management, highlighting the goals that can be achieved with our solutions,” stresses Gabriele Montelisciani, CEO of Zerynth. “Our challenge has always been to make the Internet of Things and Artificial Intelligence accessible to SMEs so that they can face the market competitively, improving both the efficiency of business processes and environmental sustainability thanks to the new business models enabled by IoT, AI, and digitization technologies.”
Sara Lovato, partner at United Ventures, added, “A growing demand for digitization drives the industrial sector, and many organizations are working to implement IoT solutions, even more so because of recent pandemic crises that have highlighted the need for process optimization. Zerynth is responding to their needs by providing a complete IoT solution, hardware, and software, which is extensively integrated and has the highest industrial quality standards. The company is led by strong entrepreneurs who combine a clear vision with solid technical expertise, execution capabilities, and deep market understanding. We are excited to welcome Zerynth to United Ventures’ portfolio and to work alongside Gabriele Montelisciani and his team to accelerate the digital transformation of the industrial sector.”
Founded in 2015 by a team born in the laboratories of the University of Pisa and consisting of Gabriele Montelisciani, Giacomo Baldi, Daniele Mazzei and Gualtiero Fantoni, Zerynth supports companies in digitizing production processes. Through its plug-and-play IoT devices and platform it enables any machinery to Industry 4.0. Zerynth’s patented IoT technology is easy to deploy, scalable and flexible and allows to acquire data from old and new generation machinery, monitor production in real time, measure energy consumption, predict malfunctions, and get notifications in real time: thus, it allows a reduction of energy costs by up to 40 percent, a decrease of downtime by up to 70 percent, and a reduction of maintenance costs by up to 30 percent.
Zerynth, which is based in Pisa but is also strengthening its presence in international projects, now has a team of more than 35 people with deep IoT experience and more than 100 client companies in all industries from manufacturing to agriculture, energy to logistics.
ADVANT Nctm, Avv. Del Guerra, Avv. Bonadio and Zerynth CFO Flavio Venturi for Zerynth; BonelliErede for United Ventures; and notary firm Zabban – Notari – Rampolla & Associati acted as legal advisors to the operation.
Zerynth supports companies in digitizing production processes and developing connected industrial products through a plug-and-play IoT platform designed to enable the 4.0 transformation of any industrial machinery quickly, flexibly and securely. Founded in 2015, Zerynth has experienced exponential growth: today it boasts a team of more than 35 people with deep IoT expertise and over 100 client companies operating in all industrial sectors: from manufacturing to agriculture, from energy to logistics. For more information: www.zerynth.com
United Ventures SGR Spa
United Ventures is an independent venture capital firm. Since 2013, it has invested in more than thirty technology startups, supporting their growth and international expansion. For more information: www.unitedventures.com
LIFTT is an operating Venture Capital Holding Company chaired by entrepreneur and scientist Stefano Buono. Since 2020, it has invested in 31 start-ups operating in all technology sectors. For more information: www.liftt.com
UV2’s investment in Zerynth is also supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.
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