Thursday, October 31, 2013

Club Italia Investimenti 2 backs with €50k capital injection

The first italian pree-seed vehicle at the side of accelerators, Club Italia Investimenti 2 (Cii2) has entered the capital of Sgnam, a young Bologna-based startup, operating in the home food delivery space. injecting €50k in the company.
The web platform, also available on Android devices, allows to order food to be delivered fast at home, and all this in few click and time money saving, thanks also to discount actions. After having personalized and send the order, the restaurant owner receives it on an ad-hoc created app for the management of the orders, that in few seconds answers giving a feedback on the delivery time. Sgnam's app works only as intermediary between the client and the restaurant owners, and being a delivery-man-free system and being managed on the Cloud, everything is automatic and applicable everywhere.

Founded by Giovanni Cavallo (CEO and Founder), Lorenzo Lelli (CTO) and Alessandro Battaglia (CFO) and launched on the market on 28 November 2012 by after an initial testing phase in Bologna, Sgnam is now present also in Modena, Reggio-Emilia and Florence, with more than 5,000 active orders. At the speed of two cities per months, the company will expand to the remaining university cities, maintaining as target students aged between and 18 and 25 years old. At the moment the company counts 80 among bars, restaurants and pizzerias with more than 5,000 orders. And the most interesting information is the the percentage of users that reordered over the platform, are 43% of Sgnam visitors.

On 6 and 7 June 2012 company took part at Smau Bologna and won the MoebiuStartup prize at Smau in Bologna, were it was selected among 70 participant startups who took part to the competition.

The capital will be deployed for the territorial expansion, users acquisition and the team recruitment.

Club Italia Investimenti 2 is the first italian accelerator enhancer. Forerunner of CII2 was Club Italian Investimenti 1, which since its launch in 2008 has invested in the Italian digital excellence and allowed it to map the skills in Italy, by understanding startups' needs and to build a network of persons and institutions that believe in the Italy of innovation.

Based on these premises in 2012 was borne the idea of CII2, a vehicle to flank accelerators and ease the access to seed and early stage financing to newborn digital startup.

The approach of CII2 is success oriented in what it doesn't charge any commission fees on the management, but only success fees, by investing where risk is shared and acquiring a share of 10% of the capital of startups needing fundings on a pre-seed stage.