Innogest leads €1.3m series-A round for Armadio Verde

The two VCs contributed equally to the round, with LigurCapital co-investing alongside Innogest, who initiated the deal, and a group of new private investors from the management board (who invested less than €100,000 combined).

The company's marketing efforts will be supported by Gruppo Editoriale l'Espresso, which agreed to provide advertising facilities across its print, online media and radio products. The publisher received a convertible note worth €140,000, which will vest in a year's time. As part of the deal, Stefano Molino from Innogest and an individual mandated by LigurCapital will join the board.

The fresh capital injected will allow Armadio Verde to develop the platform, enlarge the team and invest in new marketing strategies. Co-founder and CEO David Erba stated that the business will now look to expand into new sectors, such as women's clothing, and new markets.

Erba said that the company plans to expand in Europe by the end of 2016 and will start looking for an international partner to back its international expansion.

Previous funding
In December 2014, Armadio Verde raised a €200,000 seed capital round initiated by the state-backed investment company LigurCapital and a group of private investors brought together by the London-Turin-based accelerator iStarter.

Company
Established in 2011, Armadio Verde is an online trading platform focusing on second-hand clothes for children. The company, headquartered in Milan, was founded by Eleonora Dellera and David Erba and employs 11 people.

People
Armadio Verde – David Erba (co-founder, CEO); Eleonora Dellera (co-founder).
Innogest – Stefano Molino (partner).
LigurCapital – Luca Rossi (investment manager).

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