Invitalia Ventures invests €1.5m in Italian startup D-Eye

Invitalia Ventures, together with Innogest, Fondazione Cottino, the current shareholders and the management team, invested €1.5m in D-Eye, an Italian startup operating in the medical sector. According to Invitalia, the firm generates a turnover of less than €1m.

D-Eye has developed a patented optical device, compatible with the main smartphones on the market, which analyses the retina using the camera and the lighting system of the smartphone. According to Innogest, the investment will help D-Eye to continue developing a proprietary app and a cloud platform designed as a database of images and a sharing and analysis service. The fund plans to provide further funding for the company in the next few years.

Invitalia Ventures is an Italian venture capital company controlled by the Ministry of Economy and Finances. Its vehicle, Italia Venture I, was launched in July 2015 with a €100m target and held a first close on €50m, committed by the Ministry of Economy in November 2015. In December 2015, Invitalia announced three investments totalling €3.5m in the Italian venture segment. According to Invitalia, the fund operates only on a co-investment basis, with €500,000-1.5m equity tickets.

Company
D-Eye was founded in 2014. It is an operational and research company headquartered in Padua, Italy, with offices in the US for commercial and business development activities.

People
D-Eye – Andrea Russo (founder); Richard Sill (CEO).
Innogest – Claudio Rumazza (partner).
Invitalia Ventures – Domenico Arcuri (president); Salvo Mizzi (CEO).

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• Topics
• Expansion
• Healthcare
• Southern Europe
• Venture
• Italy