Thursday, October 1, 2015

Filo receives €500k in seed funding from LVenture Group

Rome, 1st October 2015 -  LVenture Group, a holding company listed on the MTA of the Italian Stock Exchange, announced today a co-investment with a total value of €500k in Filo, the startup that has designed and built a device that helps you keep under control your most important personal items.

The total investment  of LVenture Group in this transaction amounts to €100k.

The remaining amount comes from angel investors, some of which are part of Angel Partners Group, a group of angel investors of which LVenture Group is one of the founding members.

Filo is a small a tracking device all made in Italy that uses Bluetooth technology and helps you to find your personal items and keep control on them. Attach Filo to your keys, in suitcase, bag-pack or put in your wallet and through the Filo app, available for all smartphones, you will always know where  your items are. Indeed, the Filo app allows you to visualize the distance as you are approaching your items, to sound in order to localize them in a few seconds, and if you do not remember anymore when you did leave your keys or parked your car, Filo helps you to find them by visualizing the last position. In addition, you can track the associated smartphone with pressing the button on Filo

Filo took part in the acceleration program of LUISS ENLABS "The Startup Factory", accelerator controlled by LVenture Group and the result of a joint venture with the LUISS University. 

The new funds will be used for the expansion of the product on the domestic and European markets and to expand the team. In addition, the company will invest in research and development to launch new tracking solutions.