The startup that simplifies the communication and coordination of condominium life, born inside Startup Bakery, closes its 700,000 euro seed round with the entry of Svicom, an industrial partner alongside Edison, in a process of co-innovation.
Milan, 2 November 2022: Svicom SpA Società Benefit, a reference player in the Italian Real Estate market, announces its entry into Condeo, the startup that simplifies the communication and coordination of condominium life, born inside Startup Bakery. The operation comes just 7 months after the entry of Edison, Italy’s leading company in the energy transition, in a concrete process of co-innovation.
The entry into Condeo is part of the broader open innovation strategy and of the digital transformation path launched by Svicom, in order to increase cross-pollination and the exchange of skills with innovation centres and startups.
“Coming on board a startup like Condeo is an initiative as novel as it is courageous for Svicom. A path we look at with enthusiasm and that represents an important piece in this year of great growth for our Group, stated Fabio Porreca, Chairman of Svicom, Through initiatives like this one, Svicom aims to support the development of startups with high innovative potential, with the goal of accelerating the digital transformation processes of the company’s most strategic businesses”.
Condeo addresses property managers, residents and suppliers interested in making condominium communication and management simpler, through automation and the coordination of ordinary and extraordinary works, up to the recording of the main events of condominium life, thus fostering greater transparency too. A solution that has drawn the interest of Edison, on the front of activities aimed directly at the end consumer (residents), and of the Svicom Group, which has grasped its value and opportunity on the B2B front (condominiums).
“Managing to bring Svicom on board in such a short time confirms the soundness of our model and fills us with enthusiasm for the next steps, which will concentrate on consolidating the team and strengthening the go to market, commented Giorgio Argentieri, CEO and co-founder of Condeo*, To date the platform has already recorded the entry of the first property management firms, for more than 800 condominiums and 13,000 potential housing units: interesting numbers that bode well”.*
Thanks to this new collaboration, Svicom aims to extend the services offered to its portfolio of managed condominiums, drawing on the development of new digital solutions.
“The path of co-innovation that binds us to Condeo today perfectly describes Svicom’s imprint on open innovation themes, and of this we are deeply proud, declared Gerardo Monferrato, Creative & Open Innovation Director of Svicom, In our Smart Real Estate vision of property management, it is fundamental to identify the most innovative startups in order to explore, effectively and quickly, new solutions of value for our business and thus to put the best technologies in the service of our Clients”.
A new model of open innovation, the one offered by Startup Bakery and embraced by both Edison and the Svicom Group, which sees industrial partners entering the startup’s capital right from the start and progressively accompanying its development together with the Startup Studio (which co-invests through the SB Labs in the pre-seed and seed phases).
“The entry into Condeo of two industrial partners such as Edison and Svicom is an unprecedented result, a great success for our Startup Studio which comes even ahead of the timeline we had set ourselves, concluded Alessandro Arrigo, CEO & founder of Startup Bakery, The two companies will be able to launch a complementary strategic partnership, showing that doing co-innovation is truly possible, even at the seed stage, provided the model has all the numbers to stand up and succeed”.
Svicom SpA Società Benefit
For more than 25 years Svicom has offered a complete, integrated consulting service in the enhancement of properties, establishing itself as one of the leading companies in Italian Retail Real Estate. The company boasts a portfolio of 130 assets, for a GLA of more than 1.7 million sqm, including shopping centres and retail parks, stand alone and high street units, food halls, logistics and office properties. The Svicom Group includes the subsidiaries Svicom Agency and Svicom Gestioni Condominiali.
Condeo
Condeo is the cloud platform that simplifies the communication and coordination of condominium life through automation and the coordination of ordinary and extraordinary works, up to the recording of the main events of condominium life. It addresses property managers, residents and suppliers. The second startup spun up by the Startup Studio Startup Bakery, it made its official debut in March 2022. In October 2022 it closed its first €700,000 seed round with Edison and Svicom among the main investors.
Startup Bakery
Startup Bakery is the Italian startup studio founded by Alessandro Arrigo and Angelo Cavallini in February 2020 with the goal of bringing to life sustainable B2B SaaS companies with a strong Artificial Intelligence component, and of allowing founders, companies and professional investors to express their potential.
The Studio guarantees the serial application of tools, skills and methodologies already present in the team, and stands beside the co-founder through every phase, from the raise to the exit, making them progressively more independent. Thanks to a proprietary algorithm, it can count on advanced capabilities for collecting and processing market data in order to identify niches of interest to occupy, while the cyclical validation of the initiatives launched is guaranteed by the application of the lean method.
The user-centred Interaction Design approach guaranteed by the know-how of Donux, the UX/UI company spun up by Startup Bakery itself, finally delivers simple, effective user experiences.
Startup Bakery offers industrial partners a new way of doing open innovation, entering the capital of the new startups and progressively accompanying them in their development up to acquiring them.
The SB “Labs”, the group’s operating companies, have the task of financially supporting the initiatives spun up in the pre-seed and seed phases (in co-investment), as well as building their core team (HR).
At the end of November 2020 Startup Bakery closed a capital increase of €750,000. In April 2021 it opened the €700,000 capital raise for its first startup, Veterly, and in October of the same year it brought it to market. In January 2022 it completed the €1,950,000 capital raise thanks to its first Lab. In March 2022 it presented its second spun-up startup, Condeo, for which it closed the €700,000 capital raise in October 2022, with Edison and Svicom among the main industrial partners.
