MIP, P101, Samaipata in €14m series-B for Colvin

This new injection of capital brings the total funding raised by the company to around €25m.

Colvin plans to use the fresh financing to further expand in Spain and the rest of Europe, primarily in Italy, Portugal and Germany. In addition, the company intends to scale up its team of 115 staff by 20%, enlarge its offering and boost its investment in marketing and innovation.

MIP deployed capital from its MIP I fund, which was launched in December 2017 with a €100m target. The vehicle invests in European companies operating in the lifestyle sector with a technology and digital angle, and mainly focuses on the fashion, food and design industries. 

P101 invested via Programma 102 and Ita500. Programma 102 is a €65m vehicle that targets Italian digital and technology startups offering B2C and B2B services to the food, fashion, design, travel, real estate, financial technology and cybersecurity sectors. Ita500 is a venture capital fund launched by Azimut Libera Impresa and managed by P101. 

Previous funding
Following an initial seed round of €300,000 in 2016, Colvin raised €700,000 from Samaipata Ventures in April 2017.

Subsequently, Samaipata and Mediaset invested €2m in the startup in December 2017.

Italian VC firm P101 and Samaipata Ventures led a €6m funding round for Colvin in October 2018. Television group Mediaset Spain also took part in the funding, alongside several private investors, including former Yahoo CEO Javier Etxebeste and Tuenti founder Hugo Arévalo. 

MIP led a €2m series-A founding round for Colvin in April 2019. AD4Ventures, the venture capital arm of TV broadcasting group Mediaset, also took part in the investment.

Company
Founded in 2016 and based in Barcelona, Colvin is an online platform that sells and delivers fresh flowers and bouquets. The company employs 115 staff and has a presence in Spain, Italy, Portugal and Germany.

People
Milano Investment Partners – Stefano Guidotti, Paolo Gualdani (partners).
P101 - Andrea Di Camillo (managing partner).
The Colvin Co – Andrés Cester (co-founder, CEO).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Venture
• Spain
• Italy