Friday, August 9, 2013

Personal Factory raises €2 million from Atlante Ventures Mezzogiorno, Vertis Venture and TT Venture

The Italian Venture Capital bets on innovation made in Southern Italy. Indeed, Personal Factory, a building materials & fixtures startup based in Simbariò, in the province of Vibo Valentia - Calabria (Southern Italy) - has received a capital injection of €2 million from IMI Fondi Chusi, the VC arm of Intesa Sanpaolo, via its Atlante Ventures Mezzogiorno Fund, Fondamenta SGR via its TTVenture Fund, and Vertis SGR - investor since the birth of the company - via its Vertis Venture fund. 

The three funds committed resources for a capital increase of €2 million. For Atlante Ventures Mezzogiorno this represents the first investment of the fund in Calabria.  Instead Fondamenta SGR and Vertis SGR have renewed their confidence in the innovative project of Personal Factory of which they already held a stake of (overall) 40% since 2009

Personal Factory has developed and patented a machine which allows to mix and pack inerts and chemical products, constituting a technological platform able to turn each reseller also in a producer for building materials. The machine, concentrated in 6 square meters and strongly automized, renders production more quick, precise and flexible: this offers allows to those who use the machine to obtain strong advantages in terms of cost reductions for what is sold, as well as to offer on-demand a higher range of certified products reducing, in turn, stockholdings. Personal Factory developed also a unique platform of cloud computing coupled with manufacturing processes, the so-called

"cloud manufacturing" which allows to drastically reduce transportation costs in the production chain with a very limited environmental impact. The technological platform is actually present in Northern Africa, Russia and Latin America.

The investment represents an important acknowledgement for the this young startup from Calabria which is competing on the market since already four years and that thanks to its innovative idea has earned a considerable international success.

Among the most important acknowledgements, Personal Factory did represent the italian technological excellence at the EXPO in Shangai, has won the prize "Best Practices" of the italian industry association, was finalist at the "Global Cleantech Round Table" in Washington, and few months ago UCLA selected the italian startup among the 20 companies worldwide which will become partner for the MBA students for 2013.

By summing up, the operation rewards the job of the founders and team of Personal Factory led by who has demonstrated how a good idea can develop starting from anywhere even when times are incredibly tough, by developing technologies for the building material sector, allowing retailers to become direct producers themselves thanks to its patented system. The startup was able to conquer the market, both domestic and foreign, as well as the confidence of the investors. It grew over time by understanding its weak spots and transforming them in strengths and levers to continue its development path by seizing each opportunity.