Artemest is an online platform that connects art and design lovers with talented Italian artisans. It was founded in 2015 by Ippolita Rostagno, already a successful entrepreneur in the luxury world, Marco Credendino, Ignazio Assenza and Marco Deseri. The platform, the result of a careful selection process, brings Italian artistic and artisanal know-how to an international scale through an online showcase accessible to customers around the world. Today, the company, after four successful fundraising rounds, can count on: a site with more than 1,400 artisans, 70 employees, four locations between Europe and the United States, and a beautiful growth story to tell.
This is precisely a success story that highlights the essential role of business angels in the innovation ecosystem: not just funding, but strategic support, connections, experience, elements that can make the difference in turning an idea into a successful business. In fact, in 2017, Artemest launched its activity with a pre-seed round led precisely by business angels from Italian Angels for Growth (IAG). In 2018, a new capital increase, again with an active role of IAG, and the entry of Nuo Capital. In 2020, Artemest moves to the Series A stage with the entry of industrial investor Olma Luxury Holdings, a French private equity firm. In 2022, the company registers another new €15 million investment round, led by Iris Ventures, a Barcelona-based growth equity fund.
Artemest is an unconventional and unique business. An e-commerce business focused on Italian handcrafted artistic know-how, between art and luxury, with very high average prices, a truly challenging and "outside the rules" project that has met with the courage that only a business angel can have.
In fact, the first meeting between IAG investors and Artemest took place in 2015. It was the Salone del Mobile, the perfect stage for a meeting that would change the course of an extraordinary idea. Ignazio Assenza, Chief Financial Officer of Artemest: "We still remember when we met Marco De Guzzis in Milan, he was the first to believe in us when we still only had a beta site and 60 artisans in our community. From there IAG had the foresight and courage to lead Artemest's first fundraising round." Marco De Guzzis, an IAG partner professionally active in the world of affordable art and luxury, heard about this new project, sensed its potential, and decided to meet the founders at the off show. A strong connection ensued, an exchange of skills, networks and ideas that led De Guzzis to the Artemest board and the IAG partners to act as Anchor Investor and get the first capital raising off the ground.
An "innovative love affair" that ends today through a strategic exit with the sale of IAG business angel shares.
Artemest's team impressed De Guzzis and the IAG business angels from the start with its comprehensiveness, clear product strategy, and down-to-earthness in meeting the challenges of day-to-day operations. A well-balanced team is indeed often crucial to a company's success, bringing a variety of skills and perspectives that complement each other to achieve common goals.
As Marco De Guzzis explains, "This project was as fascinating as it was difficult to place on the capital market. That is why in the first phase the role of Business Angels was essential; as lead investors we brought a signal of confidence to the rest of the market. Personally, following this project from the beginning as an IAG Champion and board member has been a privilege. Now, with the arrival of prestigious investors of international caliber and the company's consolidated results, our mission is accomplished. The exit crowns the path that every business angel dreams of: contributing to the success of innovative ventures, giving way to new investors and embarking on new adventures."
This exit is not only a sign of financial success, but also a testament to the crucial role business angels can play in shaping the fate of a startup, where the success of one becomes the success of many.
In fact, the "love story between Artemest and IAG" is illustrative in several respects. Marco De Guzzis: "For a business angel, collaborating with a startup represents not only a financial investment, but an opportunity to exchange skills, relationships, and opportunities that create new value: the relationship can develop as a two-way mentorship, in which investors can offer their expertise and, at the same time, learn from the startup's innovative approaches."
Leonardo Giagnoni, Managing Director IAG: "The fourth exit in 2023 in a period that has not been particularly dynamic in the market is an important milestone for IAG and further confirmation of the effectiveness of our model, access to the best deals, and the real value we are able to create in the market. This has been perpetuated for 16 years and is constantly evolving, anticipating market trends and leading us to an increasingly prominent role in the ecosystem. The launch of new initiatives, such as Eden Ventures, go precisely in this direction, speeding up our processes and maximizing the value created by the network. Congratulations to De Guzzis for spearheading this club deal and best of luck to the Artemest team as they continue to grow!"
The successful case of Artemest demonstrates IAG's commitment to support startups not only during the early stages, but a progressive accompaniment in their growth. The involvement and support from a professional business angel as well as a structured organization like IAG actually accelerated the startup's growth and increased the chances of long-term success.