Three Venture Capital funds invest in a young Calabrese construction company
ATLANTE VENTURES MEZZOGIORNO, VERTIS VENTURE AND TT VENTURE ARE INVESTING IN PERSONAL FACTORY
Two million euro subscribed as part of a capital increase
Production excellence enhanced and new Italian technologies explored with initial investment
Personal Factory has developed a revolutionary system for developing products for the building industry
Milan, 30 July 2013 – Italian Venture Capital is betting on innovation in the South of Italy. Atlante Ventures Mezzogiorno – a fund managed by IMI Fondi Chiusi SGR, an Intesa Sanpaolo group company –, Vertis Venture – a fund managed by Vertis SGR – and TT Venture – a fund managed by Fondamenta SGR – have chosen to invest in Personal Factory, a young Calabrese construction company with offices in Simbarìo (VV), conceived and founded by Francesco and Luigi Tassone, who developed a revolutionary system for creating building industry products.
The three funds have together subscribed for a capital increase for a total of two million euro. For Atlante Ventures Mezzogiorno, the transaction represents the fund’s first investment in Calabria. Vertis SGR and Fondamenta SGR, on the other hand, are renewing their trust in the innovative Personal Factory project, after becoming shareholders in 2009.
Personal Factory has developed and patented a machine that makes it possible to blend and package inert and chemical products, as a technological platform that can turn every retailer into a manufacturer of building materials. The machine occupies six square meters and is heavily automated, making production even faster, more accurate and more flexible. This gives the user significant advantages in terms of reduction of the cost of sale, as well as being able to offer a wide catalogue of on-demand certified products, while also reducing warehouse inventory.
Personal Factory has also designed the only cloud computing platform combined with manufacturing processes. “Cloud manufacturing” enables a dramatic reduction in transportation in the production chain with very low environmental impact.
The technological platform developed by Personal Factory is currently present in North Africa, Russia and Latin America.
The investment represents a major recognition for the young Calabrian company, which has been competing on the market for four years and, thanks to the innovative idea underlying the project, has already garnered significant international success. Among the most recent recognitions, Personal Factory embodied Italian technological excellence at the EXPO of Shanghai, was awarded the Confindustria (Italian Industry Confederation) “Best Practices” award and was a finalist at the “Global Cleantech Round Table” in Washington. In addition, UCLA (University of California) chose Personal Factory as one of its partner companies for students in the 2013 MBA program. Other academic partnerships are also in place with ENEA and UNICAL.
The Legal Advisor of the transaction was Massimiliano D’Amico, of Bird & Bird.
“This additional investment is the proof that Personal Factory is a mature company, with laboratories capable of developing some of the most advanced technologies in the world. In addition, despite the extended global economic difficulties, the company has shown that it can grow rapidly, even in the Italian market,” declared Francesco and Luigi Tassone, respectively, the managing director and chairman of Personal Factory.
“We are happy to be the first to have believed in the potential of Personal Factory and the ability of the Tassone brothers, and to have involved other major funds in the project,” affirmed Amedeo Giurazza, Managing Director of Vertis. “Through this investment, Vertis has confirmed its role as a leading player in venture capital investments in southern Italy, distinguished by its deep connection with this region. The history of Personal Factory is proof that when entrepreneurs and investors work together seriously, business results can be achieved and new investments can be attracted” concluded Giurazza.
“In Personal Factory, we have found a truly rare combination of innovative technologies and entrepreneurial spirit. Our investment and efforts are now focused on working with our partners to contribute to expanding the company in Italy and on the international markets,” remarked Davide Turco, head of Venture Capital of IMI Fondi Chiusi SGR.
“We are very happy that we believed in the Personal Factory project when it was still a prototype. With this investment, the company is entering a new phase in which it will reach out to global markets, while remaining fully rooted and continuing to grow in its home territory”, remarked Nicola Redi, Chief Investment & Technology Officer of TT Venture. “It is a privilege to be among the leading players in a history of excellence in operations and technology, born in a region that has long had unexpressed potential such as Calabria, demonstrating the essential role of Venture Capital in the industrial development of the country,” concluded Redi.
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Last updated 30 July 2013 at 15:03