Fondo II Tech Growth in €9m funding round for BeMyEye

This is the first investment by Fondo Italiano d'Investimento's second Tech Growth fund, which closed on its €150m target after a first close on €50m in September. Its cornerstone investor is Italy's Cassa Depositi e Prestiti.

Fondo II Tech Growth is a late-state venture capital fund that targets minority stakes (and in exceptional cases majority stakes) in small and medium-sized Italian companies with a tech focus.

The fund's €6.3m investment is part of a €9m funding round in which existing investors – 360 Capital Partners, Programme 101 and Nauta Capital – also took part.

The funding is expected to help accelerate entry into new markets and standardise key products across geographies.

Company
BeMyEye was founded in 2011 by Gian Luca Petrelli and offers in-store data gathering from willing smartphone users. Clients – including Mattel, Reckitt Benkiser, Ferrero, MSC Crociere, Pepsi, Nestlé, Samsung, Heineken, Lavazza and L'Oreal – use the data and analytics to help better implement promotions in supermarkets and more effectively distribute their products. BeMyEye has offices in Milan, London, Paris and Madrid.

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• Topics
• Expansion
• Southern Europe
• Technology
• Fondo Italiano di Investimento
• Italy