It is time to make an important growth leap for Miscusi, a restaurant brand founded in 2017 by Alberto Cartasegna and Filippo Mottolese. The startup thinks big and closes a 20 million round, which add up to the 5 crops in the last three years. The new round of financing is led by Mip, the venture capital fund of which Angelo Moratti is anchor investor, and has the support of the American fund Kitchen Fund, already investor in numerous international food companies, including SweetGreen.
In detail, the round includes 14 million of equity e 6 million of debt financed by Banco Bpm. Of the 14 million in equity, 10 million will come from a capital increase subscribed by current shareholders, while approximately 4 million will come from a convertible underwritten by the Kitchen Fund. The shares of the current main shareholders will be confirmed after the transaction: Mip al 32.83%, Alberto Cartasegna with around 20% and Filippo Mottolese with 11%. Among the other shareholders also Alexander Samwer, co-founder of the German incubator Rocket Internet famous for the investment in Zalando, and a couple of Italian business angels.
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“In Italy we have 11 restaurants in 6 cities and on 7 June we will open the twelfth in Padua, while in September we will open in the Bocconi area in Milan. The future development strategy envisages combining organic growth in Italy with openings abroad, starting with the major European capitals. Already by 2021 we should be able to complete an opening, if not two, ”explains Cartasegna, adding:“ We continue to invest in different directions: in technology but looking at the long term; in people with a proprietary platform, a collage that accompanies professional growth and new openings ». The company now has 300 employees in all with 40 in the head quarter. “After 2020, in which we managed to limit the losses, we are starting to hire again. Last year we made use of the redundancy fund supplementing it with a fund subsidized by the company’s front line »recalls Cartasegna.
«Mip has invested in MiScusi and in Alberto’s long-term vision which will allow the company to become, through catering, a global movement» underlines Moratti, who added: «For the Mip I Miscusi fund it remains the largest investment. Our goal is to help this new generation of entrepreneurs to grow by making a difference in their sector ».
The meeting with the Kitchen Fund
The participation of the American Kitchen Fund in the Miscusi operation has two values: the first is the recognition of the value of the development project of the Italian startup with a view to more sustainable catering; the second is the interest of the fund for a company in our country, it is in fact the first time that the Kitchen Fund invests in Europe and has chosen an Italian company to enter this new market.