Press Release
Svicom enters the capital of the startup Condeo and accelerates innovation.
The startup that simplifies communication and coordination of condominium life, born within Startup Bakery, closes the seed round of 700,000 euros with the entry of Svicom, an industrial partner along with Edison, in a process of co-innovation.
Milano, November 2, 2022 – Svicom SpA Società Benefit, a key player in the Italian Real Estate market, announces its entry into Condeo, the startup that simplifies communication and coordination of condominium life, born within Startup Bakery. The operation takes place just 7 months after the entry of Edison, a leading company in Italy in energy transition, in a concrete process of co-innovation.
The entry into Condeo is part of a broader open innovation strategy and the digital transformation path initiated by Svicom, in order to increase contamination and the exchange of skills with innovation centers and startups.
“Going on board a startup like Condeo is both an unprecedented and courageous initiative for Svicom. A journey we look at with enthusiasm and which represents an important piece in this year of great growth for our Group” – said Fabio Porreca, Chairman of Svicom – Through initiatives like this, Svicom aims to support the development of high potential innovative startups, with the goal of accelerating the digital transformation processes of the society’s most strategic businesses.”
Condeo targets administrators, condominium owners, and suppliers interested in making communication and condominium management easier through automation and coordination of ordinary and extraordinary work up to the recording of major events in condominium life, thus fostering greater transparency. A solution that has attracted the interest of Edison, regarding activities directed at end consumers (condominium owners), and the Svicom Group, which has recognized its value and opportunity in B2B (condominiums).
“To succeed in such a short time to bring Svicom on board confirms the validity of our model and fills us with enthusiasm for the next steps that will focus 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 registered the entry of the first condominium administration studies for over 800 condominiums and 13,000 potential housing units: interesting numbers that give us hope.”
Thanks to this new collaboration, Svicom aims to extend the services offered to its portfolio of condominiums under management, leveraging the development of new digital solutions.
“The co-innovation path that now connects us to Condeo perfectly describes Svicom's footprint on issues related to open innovation, and we are deeply proud of this – said Gerardo Monferrato, Creative & Open Innovation Director of Svicom – In our Smart Real Estate vision of property management, it is essential to identify the most innovative startups to effectively and quickly explore new value solutions for our business and thus provide the best technologies to our Clients.”
A new model of open innovation, offered by Startup Bakery and embraced by both Edison and the Svicom Group, which sees the entry of industrial partners into the startup's capital right from the start and the gradual accompaniment towards their development together with the Startup Studio (which co-invests through the SB Lab in the pre-seed and seed phases).
“The entry into Condeo of two industrial partners like Edison and Svicom is an unprecedented achievement, a huge success for our Startup Studio that comes even ahead of the schedule we had set – concluded Alessandro Arrigo, CEO&founder of Startup Bakery – The two entities can initiate a complementary strategic partnership demonstrating that co-innovation is truly possible, even in the seed phase, as long as the model has all the numbers to stand up and succeed.”
Svicom SpA Società Benefit
For over 25 years, Svicom has offered a complete and integrated consulting service in the field of property enhancement, establishing itself as one of the leading companies in Italian Retail Real Estate. The company boasts a portfolio of 130 assets – with a GLA exceeding 1.7 million sq. m – which includes shopping centers and parks,
stand alone and high street, food halls, logistics, and office properties. The Svicom Group includes the subsidiaries: Svicom Agency and Svicom Condominial Management.
Condeo
Condeo is the cloud platform that simplifies communication and coordination of condominium life through automation and coordination of ordinary and extraordinary work up to the registration of major events in condominium life. It targets administrators, condominium owners, and suppliers. The second startup hatched from the Startup Studio Startup Bakery, it makes its official debut in March 2022. In October 2022, it closed its first seed round of €700,000 with Edison and Svicom among the major 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 SaaS B2B companies with a strong component of Artificial Intelligence and allowing founders, companies, and professional investors to express their potential.
The Studio guarantees the serial application of tools, skills, and methodologies already present within the team and supports the co-founder in all phases, from raising capital to exit, gradually making them more independent. Thanks to a proprietary algorithm, it can count on advanced capabilities for collecting and processing market data to identify niches of interest to focus on while the cyclical validation of initiated projects is guaranteed by the application of the lean method.
The user-centered Interaction Design approach guaranteed by the know-how of Donux, a UX/UI agency spun off from Startup Bakery, finally offers simple and effective user experiences.
Startup Bakery offers industrial partners a new way of doing open innovation by entering the capital of new startups and progressively accompanying them in their development until acquisition.
The SB “Labs,” operational companies of the group, are tasked with financially supporting the initiatives hatched 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 completed a capital increase of €750,000. In April 2021, it opens capital raising of €700,000 for its first startup Veterly and in October of the same year, it brings it to market. In January 2022, it completes the capital raising of €1,950,000 thanks to its first Lab. In March 2022, it presents its second spun-out startup, Condeo, for which it closes the capital raising of €700,000 in October 2022 with Edison and Svicom among the main industrial partners.
https://www.startup-bakery.com
Media contacts
Serena Orizi
PR and Media Relations, Startup Bakery
+39 (320) 420-5558 | serenaorizi@gmail.com
skype: soloori
