Invitalia and Principia lead €1.4m series-A for Pedius

As part of the deal, government-backed Invitalia invested through its Italia Venture I fund, while Principia deployed capital from its Fondo Principia III - Health vehicle.

According to a statement, the capital injection will allow the business to expand its business across new geographies, boost the production of a new device dedicated to elderly people and hire five more people, with the aim of doubling its headcount within a year.

Previous funding
In December 2014, Embed Capital, Sistema Investimenti and Tim Ventures structured a $500,000 round of seed capital for the business.

Company
Established in 2013, Pedius develops a mobile application that allows deaf and hard-of-hearing people to make phone calls, as well as companies to receive calls from hearing-impaired customers. Its proprietary technology uses a speech recognition and synthesis system that allows deaf users to access emergency calls as well as assistance and customer care services.

The company is headquartered in Rome and has a presence in France, the UK, Spain and the US, and claims several large corporates among its clients, including Italian telecommunications firm TIM as well as BNL, HP, Axa Assistance and some Italian public authorities.

People
Invitalia Ventures – Mario Scudieri (investment manager).
Principia – Antonio Falcone (CEO).
Pedius – Lorenzo Di Ciaccio (co-founder, CEO).

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• Topics
• Expansion
• Technology
• Southern Europe
• Venture
• Italy
• Principia