Reasoned Art, an Italian startup in the Art Tech industry founded by Giulio Bozzo and Andrea Marec, has announced the closing of a €1.4 million seed round that features Woori Technology Investment among South Korea’s leading investment funds.
“We facilitate access to web3 experiences by generating valuable content that combines physical and digital, tradition and innovation in order to drive the knowledge of digital ownership” said Giulio Bozzo.
“We are thrilled to have Italian and Korean investors by our side who believe in our vision and support us in this exciting challenge.”
With the new financing, the company plans to continue its expansion, focusing on developing the Monuverse project. Monuverse aims to preserve and enhance cultural heritage through digital art and the potential of the Web3: the 3D model of a monument is reinterpreted by a digital artist, thus creating a new artwork that is certified through NFT.
The project started with the Arch of Peace in Milan – with the sale of the first 1,111 NFTs – and will continue exploring different historical periods and geographical contexts.
“Monuverse aims to be a benchmark for the future of humanities education: a participatory and engaging ecosystem in which to experience art and culture in an innovative way,” says Bozzo – a graduate in Preservation and Enhancement of Cultural Heritage.
“Reasoned Art secures the possibility of expansion into various NFT products and services, and unique positioning in the market with their Monuverse project while more parties are becoming more familiar with blockchain technologies. We are excited to support the future of art and culture together with the team at Reasoned Art” said Joonsung Kwon Investment Director – Woori Technology Investment
The startup began its Web3 journey in January 2021 by developing a digital art sales platform and then implementing B2B services with several brands, including Adidas Originals and Bulgari. The Italian startup’s three business units – Monuverse, Curated Digital Art Gallery, Brand Collaborations – have the same goal: enhancing digital art.
The investment round saw the follow-on of previous investors – LVenture Group and Rosario Bifulco – and the entry of B-Heroes, MetaVenture Holding, Urania, and several national business angels.
The corporate and legal profiles of the transaction were handled by partner Annapaola Negri-Clementi, associate Arianna Leonardelli, and Dr. Lucrezia Melina Lorenzelli of Pavesio e Associati with Negri-Clementi, a law firm specializing in assisting innovative high-tech start-ups operating in the Legal Tech and Art-Tech fields, with particular expertise in the Blockchain, NFTs, Metaverse and crypto-asset segments.
The team assisted the company in all phases of the transaction, accomplished through the capital increase of Woori Technology Investment Co.Ltd and the conversion of equity and other convertible financial instruments previously issued by the company.