StartupGym Studio srl, has launched an equity crowdfunding campaign on CrowdFundMe, through the SPV StartupGym Studio Holding Srl. The campaign went overfunding in just one day, reaching over 200 thousand euros raised, of which $117,000 (€100,000) was invested by the founder Enrico Pandian and the other 100 by 43 investors. The minimum goal was $117,000 (€100,000), against a pre-money valuation of $9.4 million (€8 million), but the target goal is $880,000 (€750,000), half of a capital increase of $1.76 million (€1.5 million), with the other half allocated to Family Office and private investors.
Read more on the subject and find other important business news with the Born2Invest mobile app.
The first project supported by Startup Gym is Eoreka, part of Eureka and Horeca
Launched by entrepreneur and serial investor Enrico Pandian through Startup Gym srl, which holds 80% of the capital, the company was created to build from scratch new companies based on models already validated in the United States, especially digital companies based on proprietary software, with a European focus from day one. It is a company that invests, supports, and creates new startups, importing business models and future technological trends in Europe, starting from Italy. Therefore it is not an incubator nor a Venture Capital fund, but a “producer” of new startups.
Alongside Pandian in StartupGym Studio’s capital, with 10% each, there are also partner Giuseppe Balzano, who has supported the creation of three startups between Italy and San Francisco, contributing to both technological and business/financial development, having been a full-stack developer before specializing in engineering and finance; partner Tarek Fahmy, who worked for the world’s most prestigious startups in Silicon Valley, Google, and Facebook, and then spent 8 years at Wish, as Senior Vice President of the developer and product team and other team members.
The first project supported by Startup Gym is Eoreka, part of Eureka and Horeca, a B2B digital marketplace for hotels, restaurants, and bars, led by Stefano Raffaglio, currently general manager of Dolcitalia, the largest distributor of sweets, food, and beverages in Italy. Eoreka has already gathered the interest of institutional funds and important stakeholders.
The business plan states that “this seed round of $1.76 million (€1.5 million) will be used to finance the runway of the Studio for the next 24 months, will cover internal expenses, launch and validation costs and salaries of the Team. The 1.5 million round is associated with an additional $1.76 million (€1.5 million) in funding made available to us by our investors and third parties, ready to be invested in the first three startups born in the Studio.”
Approximately 20 MVPs (test products) will be validated each year with a team of 12 people. Each project will be set up to favor an early-exit perspective, towards foreign competitors who want to expand in Europe. The divestments will generate cash, allowing to self-finance and, in part, to distribute dividends. The goal is to list Startup Gym on the stock exchange within 3 years.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Cepsa Plans to Build a Hydroproduct to Import Hydrogen from Morocco
According to Cepsa's chief executive, the industry needs a hydrogen price of between $2 and $2.5 and around $3 or...
Same Old, Same Old Crummy Market
But these are little issues compared to the performance difference between the stock market and commodities seen since November 2021. Has...
Stock Markets Have Definitely Seen Better Days
It has been the worst start since 1939. Yes, we have to go back that far to find a year...
What is the Best Social Media for Your Business?
It’s time to dispel the myth of the “best social media for business”. Learn more about the demographic data behind...
Amateur Sports Leagues Win Big as FOXD Network Partners With CXSports
Aimed squarely at amateur and semi-professional sports leagues and teams, sports broadcaster FOXD Network has just partnered up with CXSports....
Cannabis2 weeks ago
The Global CBD Gummies Market Will Reach $12 Billion by 2028
Featured2 weeks ago
Understanding the Fed’s Rate Hike: the Long Term Goal of 2.0% Inflation
Featured2 weeks ago
Why Rice Supplies Are Tight and Demand Is Holding Together
Cannabis2 weeks ago
Why the Cannabis Market Has Growing Investment Prospects