Background

  • Founded in 2016 and headquartered in Milan, Italy, iGenius is a business data company that provides augmented analytics via its proprietary AI platform, Crystal, with the aim to reimagine data interaction for businesses
  • iGenius developed Crystal to provide businesses with a SaaS decision intelligence solution to create a digital assistant, through augmented analytics capabilities, based on natural language processing, machine learning, and data retrieval
  • iGenius raised EUR 20M in previous rounds to develop a second version of the platform and make the product scalable
  • iGenius has built an international team of over 100 people across four international offices in Italy, the UK, the US, and Switzerland
  • NovaCapital is a venture capital firm, focussed on technology investments in Europe and the US
  • Blacksheep MedTech Fund (Blacksheep) is a venture capital and private equity firm that invests in big data and artificial intelligence

Process

  • DC Advisory (DC) was engaged by iGenius to act as financial advisor to its Series A+ funding round, with the key task of identifying new investors that would share iGenius' vision and strategy for the next development phase
  • DC ran an extensive process to identify the best partners for iGenius - providing strategic advice, support in the negotiation phase, and due diligence coordination

Outcome

  • In July 2022, iGenius successfully raised EUR 10M in a funding round led by NovaCapital and included Blacksheep
  • iGenius will use the funds to expand its market reach and accelerate its sales and marketing efforts in Europe and the US
  • This transaction further enhances DC's strong track record in equity fundraisings for innovative ventures

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