Italian startup Bloovery was acquired by Spanish scale-up Colvin, a leader in digitizing the floriculture market. Between 2017 and 2020, Bloovery had successfully closed three equity crowdfunding rounds, on Crowdfundme, Opstart, and Mamacrowd, respectively, raising a total of $275,000 (€265,000). In 2019, the startup had entered the accelerator program of VC LVenture, which, in the last round on Mamacrowd, had entered the capital.
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Bloovery plans to become Europe’s first “flowertech”
Bloovery is the leading digital wholesaler for the sale of flowers and plants and, in addition to allowing the florist to place orders online receiving them in store in just 24 hours, it is the first platform directly connected to Dutch flower auctions and thus allows for each order to receive an accurate assessment of the best available price.
Colvin was founded in Barcelona in 2016 and has been present in Italy since 2018. Since its launch, it has raised about $72.6 million (€70 million) in funding, the latest in 2021 of $46.7 million (€45 million), and has also involved Italian investors, such as P101 sgr, Milano Investment Partners sgr, and Mediaset’s corporate venture capital.
Simone Guzzetti and Michele Dondi, co-founders of Bloovery, told StartupBusiness, “We are at the beginning of a long and wonderful journey. There is still so much to innovate in the industry. Together with Colvin, we are ready to create the world’s first flowertech company. We are very excited to join the Colvin family. By combining their international experience with Bloovery’s B2B expertise, we have a chance to make our mark in the flower industry.”
According to Radiocor reports, with the sale to Colvin, LVenture also exited its stake and the divestment of the entire stake generated a return on investment of about 2 times.
Recall that Bloovery’s last post-money valuation, after its third round, was 2.15 million while that of the previous two rounds had been 715,000 euros for Crowdfundme’s 31 investors and 94,000 euros for Opstart’s 19. So we assume that the exit generated satisfactory capital gains for these investors.
Tenth Exit for Crowdfundme
For Crowdfundme this is the tenth exit of one of the companies that have raised on the platform. Previous Exits include, for example, CleanBnB (a leading short-term rental company) and innovative-RFK (an industrial holding company that invests in startups and innovative SMEs), which are listed on the Milan Stock Exchange and Euronext Paris, respectively.
Tommaso Baldissera Pacchetti, CEO of CrowdFundMe, said, “We are very pleased with Bloovery’s Exit. This is another concrete case of our company’s dual mission: on the one hand to help innovative companies raise capital and grow, and on the other hand to enable investors to get a financial return. An issue that is now more important than ever, because with current levels of inflation, leaving money in the bank account results in a staggering erosion of its value. Equity Crowdfunding and CrowdFundMe have proven once again that they are key tools for profitable investing.”
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