The Silicon Valley’s Boost VC fund co-invests 500 thousand dollars in Italian startup Screevo, currently attending LVenture Group’s LUISS EnLabs Acceleration Program.
Screevo is developing a digital assistant for voice control of machinery for Industry 4.0 and industrial automation.
Boost VC, the pre-seed Venture Capital fund based in the Silicon Valley, has signed a co-investment agreement for Screevo, a startup attending the latest batch of LUISS EnLabs Acceleration Program, owned by LVenture Group and born from a joint venture with the Luiss University.
The US fund participates in the startup’s capital for an amount of 500,000 dollars, on top of LVenture Group’s investment in the acceleration phase. Screevo will be supported by LVenture Group in the development on the Italian and European market, while Boost VC and its network will help the startup grow in the United States.
Screevo is a voice assistant for Industry 4.0 that enables simplified voice control of machines or software systems, allowing manufacturing professionals to save up to 40% of their time and focus on tasks with greater added value, greatly automating the data entry processes.
«The investment of Boost VC, in an Italian startup that has recently started our Acceleration Program is a good sign in our country’s entrepreneurial scenario, it means we are competitive and mature enough to attract an important player in the Silicon Valley. This operation consolidates our business model, which aims to develop the best startups in Italy and scale them globally, for a relevant added» said Luigi Capello, CEO of LVenture Group.
«The Boost VC co-investment certifies LUISS EnLabs’ skills in selecting startups with a strong vocation for scalability, which can grow internationally thanks to its ecosystem. Screevo will go through our Program with a total investment of over 600 thousand dollars, and we are sure that their team will be able to face the challenges of the future of Industry 4.0» said Giulio Montoli, Head of Acceleration of LVenture Group.
«We are very happy with this funding round, and we thank LVenture Group and Boost VC for believing in us. Screevo’s mission is to enhance manufacturing professionals, who will be able to focus on what they do best: create value with their hands. We are convinced that this is the first boost towards the digitalization of Italian manufacturing and beyond», said Domenico Crescenzo, CEO of Screevo.