P101, Vertis, 360 Capital in €25m round for Milkman

The company intends to use the fresh capital to further expand across the Italian market, improve its features, develop its offering and enlarge its client base.

P101 invested via Programma 102, a €65m vehicle that targets Italian digital and technology startups offering B2C and B2B services to the food, fashion, design, travel, real estate, fintech and cybersecurity sectors.

Vertis deployed capital from the Vertis Venture 2 Scaleup fund, which provides growth capital to Italian startups operating across the technology, industrial and digital sectors. 

360 Capital has recently held a €90m first close for its fifth fund. The vehicle was launched in September 2019 with a €150m target and expects to raise around €100m by October. It hopes to hold a final close by the first half of 2021.

Previous funding
Italian venture capital firms P101 and 360 Capital invested €1.05m in Milkman in September 2016.

Subsequently, Vertis led a €6.4m funding round for Milkman in October 2018. P101 and 360 Capital also took part.

Company
Founded in 2015 and based in Milan, Milkman develops home delivery mobile applications for e-commerce businesses. The company's software is based on a cloud platform and allows customers to schedule deliveries and customise their delivery options, offering same-day delivery, dedicated day, time-defined windows (up to 30 minutes), dynamic ETA and real-time live map.

Milkman's client base includes Italian and international companies, such as Eataly, Coop, Nespresso and Zara. The company is currently active in Milan, Turin and Rome.

People
Vertis – Mauro Odorico (investment director).
P101 – Andrea di Camillo (managing partner).
360 Capital Partners – Cesare Maifredi (general partner).
Milkman – Antonio Perini (co-founder, CEO).

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• Topics
• Expansion
• Southern Europe
• Technology
• Support services
• Italy
• Venture
• Vertis