Atlante sells Yogitech to Intel

Atlante Ventures, the Italy-focused venture arm of Imi Fondi Chiusi, sold its 47% stake, while Toscana Venture, a venture vehicle of Sviluppo Imprese Centro Italia (Sici), sold its 27% stake.

The transaction follows Intel's intention to expand in the driver assistance, robotics and autonomous machines sectors for market segments such as the automotive sector.

Previous funding
Toscana Venture acquired a minority stake in the business by providing a €1m early-stage funding round in June 2005.

In October 2011, Atlante Ventures led a €2m capital increase for Yogitech. Toscana Venture contributed €500,000 to the round.

In June 2013 and July 2014, Atlante ventures led two rounds of growth capital for Yogitech.

Company
Founded in 2000 and headquartered in Pisa, Yogitech produces hardware and software for safety-critical applications in the transportation and automotive sector, such as power steering, braking systems and car airbags.

According to press reports, the company generated €5m of revenues in 2015.

People
Atlante Ventures - Davide Turco (partner).
Sici - Guido Tommei (vice-chair).

Advisers
Company - Orsingher Ortu (legal).

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