· Bloovery, a B2B wholesale platform of flowers and plants, has been acquired by Colvin, the fastest-growing tech company dedicated to the floriculture industry;
· The sale of the entire shareholding of LVenture Group generated a multiple Cash-on-Cash of about 2x.
LVenture Group S.p.A., a venture capital holding company listed on the Italian Stock exchange that invests in digital high-growth potential startups, announces the exit from the startup Bloovery. The portfolio company has been acquired by Colvin, the leading European scale-up in the digitisation of the floriculture industry. The sale of LVenture Group shareholding generated a return on investment of about 2x.
Bloovery is a B2B platform dedicated to the wholesale of flowers, plants and accessories. Thanks to Bloovery florists can order thousands of items directly online, with a saving of up to 30% and a delivery of the products within 24 hours.
The startup, accelerated in 2019 by LUISS EnLabs, LVenture Group’s Acceleration Program, is the first digital flower and plant wholesaler in Italy. The merge brings to Colvin the Bloovery technology, which digitizes the process of buying flowers and plants, quickly and safely connecting producers and sellers, and the team has deep know-how of the B2B market.
“The ongoing digital revolution and the growth of the venture capital market, especially in Europe, is accelerating the acquisition of startups by scale-ups, with the aim to join forces to strengthen their market leadership. LVenture Group is ready to seize the growing opportunities for portfolio startups. Congratulations to the Bloovery team for this new and ambitious journey“, said Luigi Mastromonaco, Head of Investments and Exits of LVenture Group.