Digital Magics is a Milan-based startup incubator listed in Milan (DM) that offers digital know‑how and incubation services. The company partners with financial institutions to provide resources to innovative startups. Under an agreement with Gruppo Creval, Digital Magics will provide its incubation services and, together with the bank, offer financial resources to promote growth of innovative startups and develop Open Innovation programs to support local companies. The agreement aims to grow the digital economy by investing in territories where Creval has branches. As part of the deal, Gruppo Creval will enter the Digital Magics Angel Network and participate in selection and investing alongside the more than 100 private investors on the platform. Financially, Digital Magics received a €2M debt financing from Gruppo Creval guaranteed by the Fondo di Garanzia per le PMI, the public fund managed by the Ministry for Economic Development. Digital Magics is a Milan-based listed, certified venture incubator that supports early-stage digital startups. It incubates and backs digital companies and hosts startups such as Plannify. The company has entered a strategic partnership with Gruppo Uvet to back online tourism and travel startups. Under the deal Gruppo Uvet will select, mentor and co-invest in companies proposed by either party and the two firms will collaborate on an investment and innovation plan to systematically scout and select startups, research projects, IPs and innovations related to tourism and online travel. The first investment within the partnership is Plannify, an event search engine incubated within Digital Magics. As part of the transaction Gruppo Uvet invested $500k to acquire a 1.8% stake in Digital Magics.

Total raised

$3M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Aug 2014