Italy’s venture capital ecosystem is accelerating, with $1.7 billion raised in 2025 and a further $249 million deployed in Q1 2026, according to new Dealroom data released by tech conference Wave by Vento.
The 2025 total marks Italy’s second strongest year on record, while Q1 2026 significantly outpaces previous years, up from $109 million in Q1 2024 and $174 million in Q1 2023. While below the exceptionally strong Q1 2025 ($297 million), these figures point to a steadily rising baseline and a more consistent investment environment.
Italy’s growing tech ecosystem is translating into real economic impact. The enterprise value of the country’s tech companies has more than doubled since 2022, reaching $65 billion, while the sector now employs nearly 130,000 people. Italy is also home to 17 unicorns valued at $44.6 billion, including two new unicorns revealed in 2025: Prima and Namirial.
Activity in early 2026 also highlights the diversity and ambition of Italian tech. Recent rounds include:
- D Orbit’s $62 million Series D in space logistics,
- Subbyx’s $35 million Series A in consumer platforms, and
- Dronus’ $17 million early-stage investment to elevate its drone technology.
Meanwhile, Niulinx, a spinout from the Polytechnic University of Milan, raised $38 million in seed funding, Europe’s largest ever seed round for autonomous driving.
Meanwhile, Italy’s AI ecosystem continues to deepen.
AI investment reached $414 million in 2025, with Q4 alone delivering $227 million, one of the strongest quarters on record. The enterprise value of AI companies in Italy has grown from $4.3 billion in 2022 to $8.6 billion in 2026, and they employ 16,000 people.
Diyala D’Aveni, CEO of Vento, said:
“Italy is proving that consistent growth matters. We are seeing a stronger baseline year after year, with more capital, more ambitious founders and more companies reaching scale.
The ecosystem may still be smaller than others in Europe, but it is becoming more resilient and more internationally relevant. With Wave by Vento, we are bringing global capital and talent into that momentum, helping Italian founders build companies that can compete at a global level.”
Yoram Wijngaarde, Founder of Dealroom, said:
“The data shows a clear upward trend in Italy. 2025 was one of its strongest years on record, with $1.7 billion invested and a record final quarter, highlighting growing momentum.
While still smaller than Europe’s largest markets, Italy is becoming more established and increasingly competitive within the European ecosystem.”
Lead image: Freepik.
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