We are thrilled to announce our € 2,2M funding round!
The round was underwritten by Primo Ventures – through its Primo Digital and Primo Digital Parallel Italia funds – and supported by two business angels.
This round is a key milestone in our growth journey. Today we serve more than 30 equipment manufacturers in Italy, UK and Germany, such as Domino Printing, SIAT Maillis Group, Baxi and we have commercial partnerships with major players such as Vodafone Italy and Porini. There are more than 9,000 equipment and machines connected to Servitly, with a growth of more than 50 percent in the past year.
The new resources will enable us to strengthen sales and marketing activities, extend business and technology partnerships, and accelerate the product roadmap. This will allow us to accelerate our growth in the European-scale equipment manufacturer market.
We are thrilled by Primo Ventures’s investment, which has believed in us and in our vision on the future of equipment manufacturers, increasingly oriented toward a service offering, digital and physical, enabled by connected products. Thanks to this investment we have the opportunity to further accelerate our growth and be a key player in this future. Connected services and products are creating a new software market that will be worth more than 2 billion, and we want to be among the leaders in this new space.
Stefano Butti, CEO and co-founder of Servitly
Servitization is the future of manufacturing and Servitly offers a solution that allows OEM’s to capitalize on this business opportunity fast and build recurring revenue. I’m excited to start this journey as an investor and business partner.
Marc-Alexander Winter, Business Angel
Servitly has developed a software-as-a-service solution that solves the problem of servitizing complex machinery effectively and efficiently, and thanks to its no-code approach it can cut the time and cost of deployment by almost an order of magnitude. This is exactly the kind of solution that we believe will meet the needs of equipment manufacturers who have embarked on a digitization and sustainability journey, in line with the ESG policies adopted by Primo Ventures. We are very happy to be able to support the team in its development journey.
Niccolò Sanarico, partner at Primo Ventures
Primo Ventures is an asset management company specializing in early stage technology venture capital in the digital and space sector. Primo Ventures currently manages the funds: Barcamper Ventures, Barcamper Ventures Lazio, in partnership with the Lazio Region, and Primo Digital in the digital sector and Primo Space Fund in the new space economy sector.
