Dynamitick closes a capital increase of € 493,000
Dynamitick, a startup from the LVenture Group portfolio specializing in solutions of dynamic price ticketing for the sport and entertainment industries, has closed a capital increase of €493,000.
The operation took place in three stages: the first of 255 thousand Euros in August 2016, the second of 95 thousand Euros in December, and the third, now finalized, has seen a further investment of 143 thousand Euros.
The capital increase was contributed by leading investors and business angels. They include LVenture Group, a holding company listed on the Italian Stock Exchange, which acted in the first stage alongside the business angels Shark Bites, whose reference shareholder is Fabio Cannavale, founder and CEO of lastminute.com Group, and Wylab, the first incubator in Italy that focused on technologies applied to the sports world.
Recently, Deloitte, a global leader in business advisory services, has realized the potential of a Dynamitick proposal, with which the startup has signed a strategic partnership to promote his technology on the Italian market.
Dynamitick is the first company in Italy to provide dynamic ticket pricing solutions for cinemas, theaters, live events, amusement parks, and the sports industry.
Through its artificial intelligence algorithms, Dynamitick identifies the “right price” of each ticket according to market demand, sales results, propensity for consumer spending, and fluctuations of specific variables, providing the opportunity to boost admissions and revenues, limiting the number of unsold tickets.
Operative since February 2016 and graduating from the Acceleration Program of LUISS ENLABS in June, the accelerator born from a joint venture between LVenture Group and the LUISS University, Dynamitick has been able to build a significant customer base in just one year. The application’s services now covers various areas of Italian entertainment, including cinema, making its debut with the Mutliplex Plinius in Milan, and Italian football and basketball, through agreements with Virtus Entella (Serie B) and Auxilium Fiat Torino (Serie A), respectively.
The commercial results have been especially positive: in cinema, partner theaters have seen an 18% increase in audience and a 15% increase in revenues.