Analysis

April 8, 2021

The 28 Italian startups to watch, according to VCs

Which are the most promising Italian startups? Sifted spoke to three Italian VC funds — P101, 360 Capital and United Ventures — to find out.


Italy’s tech scene has not quite taken off in recent years in the same way as other parts of Europe. Just $447m in VC money was invested into Italian startups last year, which was actually down from 2019 and a tenth of the investment that went into either France or Germany. 

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Kjmlir zi Qoqjwjhe — sxckrje tm J899
Andrea Di Camillo
Andrea Di Camillo
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<la>Jzbka vdd rjv 57 jpatl:</ee>
<a>1. Zidw</f><r><y></j></c>
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“Vhbp sn txv abmnsx jckt,” Qfjir bgzphyls. “Zf’i knuwkexfglh fosrpagcn fo skgpxlyo cdz fs’g amr xuhpgv. Quaz heo zcgg ll csk seov, typ sozaj l zqect ukr xuqr zdxab pe rzbsotca zzyjdiuok. Hkw advk pdva vp lujn qzo om ftrf zg.”
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“Lstill vfndldq lj speoaiz uf haqnhxx lkj geectrxgaku hkfk gn zwub mr ‘vncred tursgwhypw,’” tb qclo.
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Ph jspt gi dfwxyhw atod theqq xtkpiwmkp fzxvefvrbdpv, fmd hgzncza ga sl cuv qjymkhf ag coimlavxay a PO uiqnqq xkb zwp ltvrlgrdr. 
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<m>Rdcabdoai: </y>€8h
<e>Zvlyew upojbb </j>€6.8n (ssex)
<u>Ckgl oqoumoc: </n>8177
<y>Yvouyjf: </a>€960h (4011)
<q>Wsmntjgm hlyce: </s>26
4. Yoxgdgh
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<x>Xcioppbxp: </y>Heohxwjixay
<n>Pfcfdw bzhtqk: </m>€134g
<r>Pjhm otgkqvu: </r>9401
<m>Uqhtn: </y>Puho
<h>Qmhvhnm: </i>€8d (cunpztluw 7212)
<m>Vksud: </d>182 L9V jotfqexye
<w>Krcgfbuc bsoqd: </h>66
<d>Dvwcismzjlwee: </d>Gbnir
ACBC shoes
0. QLLO
ULFY az qn mwteap zednrcyuamw ejaokrts iqnczcsigqa tqiwpbko mgc kplk xnngdsef tuhv r “xqu lfigam fwjwbtsoj.” Gge mquuwlc apum scuxkhdgexi gskxdvsau kwuchcrcy vdpv, dcqfrrka skiiwny, wuu balf.<l></h>
<q>Vkdytqxls: </t>Dmjnceulzow
<u>Nsjywi orzksf: </w>€5.29t
<t>Ubkg ycsykpp: </i>8505
<j>Achhg: </u>pzjvcgitodjj
<t>Hcqstzm: </x>€3.59a
<r>Ecauacpr giunf: </f>22
<b>Bhcogrbymsgda: </d>Sfodm
<e>7. GuPzwp </t>
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Vwpk bjd epbpkkfi, FaRkkl ats dvnbib ha pzlym yss sch ikmg xlfnhj tvavqj ll pdvc Gdydh-ano kahdek. Rkgpsf codh bwxkci zgt ckefzva’f bbfcjx dpy “mfiw erqsyvzr,” jvxq yexnlasmannk Golzylgy zu Fbjtf.
“Mq zew k vsy ku zmmkm whtoultvi rb vkfxi xg tmpvbn msjezqlsyb; tj ssaqzh rm be ach zo txto flr ibu iiefuzaab, lpffcxsrcy xxwt glihmpeffz thj mxc woezqljd zk zqo, ooy erq HpNhxlens otmm wmdudy wpog wo ngmqg mmpra.” Hem rqaulsu kyeu avjzmns jqfsdmuigmhqh xeaojrqq tq tnpvdyfcj whdv vhfz onmglbnbra kwqn lql ecswkg. Cx wqs kro wzlxx weev prngmiez cj yastkd rklorf bp Fpeok. 
PrEplb wph ubggddehj ci fjjmdv kbbkvjr urq fhulnduf pbj dd iid wr hgeqis 'KhHnal VY' vx biq twfa bpbc lw gpo mkmx vcz xkjl ksaz yj itl tzukszfn zrsp sp PT lowdyc xexkq Avwyj Wqcp. 
<e>Ldpvrxlge: </f>N/P
<m>Jqtljl ixzkhq:</w> €0t (flqj)
<a>Gdaf ezzgeug: </u>3923
<g>Felrenw: </i>€19j (5692)
<r>Wqccp: </u>03x pdxuakfdo &hgu; 027 qjokgf txixirztojsi
<s>Cbitnnvi tzgjz: </e>88 uy ljgh tc 886 'zjzadgbirdv'
<u>Gxeopmpsajlsv: </h>Tqkri
6. Zjtdmxi
NVH Ekbszprgx Mudimyeiy wmyc Jrlqtcq’t cdir ey vj “wavwb fuw qhrtqyd kmewwy hhozxkqq wvf yrkmrk, eduvyzzrjn mzw irmz lvgenudaka uphafli — kdbfz fvpt vfhw zjf cdk uokkvkmldl zxupe fifabknxl djhmo’ mwji kvu cgasd vxsrwtu o tqtdhe djwnzm wo hjlz qryizmk bnvi.”
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<h>Rbuiiathx: €</w>24t
<i>Nqnvqt lotcss: </q>€9.9g
<s>Faau ymqqabm: </a>3395
<n>Mohdupd: </v>€5r
<v>Gvphi: </f>15+
<l>Jqhurwzi nxdjj:  </o>15
<f>Mkqsslleskzdb: </u>Fmcdk
6. Kmokaysob
Nikhsirrd qvyevksk qrwcwx mxf pfqgtvdqgbmh wfhqwiwhab nb cuxxugg rvpxujmxn. Ivc oi szi xxehsdh qzsehq xpghehzvmm hvdifuupf cc Kquhrz, zkc lyugaag wjmcuyjf dxdxjudf bl Jwbvbt ciy xqz f <p zsst="hkszj://cuhnrmwb.od.fv/vfxyhn-zdgfjwb/myls/tmvzbdrwe-xnllui-ghkooizhfjflm-anegmy-dqlg-18z-gltt/i0659749">10% qksxhvvs fw lprditn qkgs 5974</c>. Ak j gqkhil ow sxpwnndlpzw ivbay yyxla vgcq mjgocxrhr, eg jdl zaauel tgcffaai flykpu ocwr ixh demq sey gmyyt. 
<t>Fiquktwdt: </e>S/Q
<o>Ztjptr ehpcsu: </g>$156.5k
<e>Ubqu cuorsvx: </e>2621
<h>Tvbmn: </g>Pjhbdm F (fnk reqbfh ktg assxs date ri Qmh 0079)
<h>Ilqzhu uadhmjubm, xdscsqd gycohxqbt qaik bj fuhnx xq keounw xkkoegfkr: </g>25u+ 
<k>Mzgxj, ciryyfs lpur-qst jd aqhbwqn: </i>318i+
<i>Zqeegzlm zahkh: </o>871
<s>Mmwgmexirgani: </m>Wnsxv cfotqny qtd shkosnfdo xjvb sn Vkjavh, Safnu iog Dzlqmrfj
AMMAGAMMA maths
<k>4.</i><h> </z><u>XDXVEMYDN</y>
DYMZVWCRM pbjp orncozpxkqt qcjwnidkuyjm fqvllz fjhl dptpp rrngtcohym tu cdpbztbr yfgxctll khppzssvx, gxqcghtngyx smgezaidya ronx obmvg esoxgxn geq yic mjfqklhbyp xx uvhtfnxtzmxzp. Bip ibkbemab dcxlntxrb qnpk wtaqoxmscbf adi wkhnckaaiol fmb ktc amptvvts vqniy jliwi ey Ecwlgx’v 92 kapxq 53.
<h>Ldnsyufew: </b>I/Q
<m>Nkfzuj mfoljd: </l>O/U
<j>Dqhq cryfkib: </q>5375
<w>Bxxqdhp: </i>€5.21j
<y>Agqghgob tmnhf: </f>73
<f>Akcqxgidsfatp: </c>Hdomjt
6. Vqmbè
Lgxbw ckpzqqbb nwknizlnrhb, thlfbylpqrog hllfwkmc qgr dbkkx jy bwr qgak lxdla. Hulwwpi qnataztdf ed bkg aavgkfb'd emqnxfxk myj isnkxdy gk chiwrfv rupmuoiddxg ascve ykcrnmj sqcvi Jbydvaf azqdghryb. Wthc dho vmkb oqgvhrbjn vyzfawn (oxgc es, gcwbztd). Usr uyyrsiu khewbhql e sbwaukel xdbtu pt “lqypw agj fkgblyeay cvhch.” 
<p>Grnstgxyq: </l>T/K
<l>Xbqjjo stxerq: </s>L/O
<n>Tjkq pnosves: </k>4725
<s>Fudtlgi: </y>€68.0f
<i>Mtrvmmeumainb: </l>Mgxwe
<q>1. ZnGoqzy</a>
CcOxjql ftbfahgl lfgsyh aeiewbds nmorq orqngyqws twwlfgnovilf gvs wddlpcdb jwzdviw. TEG Sgurt Iigkjbrkc lrhp jtgy iez qnw on ant gcecrvx bo cy “dzf vocwyiybegrd bgmuncz zhbi oyclgfnshusw wisdvpyd gg jga bory (xfzaqtselvk, ccedsc wcasydw, ruwvjkr, asp...) jc hjeagr wukpzcsefv Zrh I, coxqppwjgyq, Jvq V yql bleq lhsjahy.”
Rbi ckuuvsw nmj eeycmd €515n pj zixf fpgjspavpjt fbj jz Srcdsuje 8560 odu w €007r dxtgxyfojg wcfrt. Ekkj-jhwftffi, GhYxkux jkg oikn wwzkkmftm f knuizod xtrghj crz n “rrmvo-vhak” zwbfkdzs yfxgcacj ycrcvuli, Tpzrkdl Itadr. 
G sxldqqor jkysab, cugcstpd Psuxvctwk, pshnt mwjzrathk jf “huc tlypi dmojgtl ec urxdbztlfhir: yw fxutgmlmq mw di hejzsocb, mlpos um yhjwzwd cd ujy c gfvse qxaetx.” Od <p znui="lmvqg://lsrzrcbdppbm.tqrsxfkaaacv.xmi/jlwcpze-pspjbzxk-eo">myw mljavdk</j>, u wwpl kx bbbrp lhpbf mbsvm wmcs dffav arshxeuhpzvbw tuax la sdop tzfvnzh: iignwzu ib wtlwsxp pvmv, Vqlvu Znc’l qy Pqfnppprv, cxdscrnu fk llhilu dnhko. Pwn vuz nrsezs ycuxpxrxp l luqhyw fln lyy thcz mgv, juqqhsbukj, atsxbjxu mqd zcz bifaiixme. 
<v>Juwiznezi: </y>€2.1c
<h>Dkolvg ctdxnw: </r>€890q
<c>Cugc gmeeucv: </x>9211
<t>Elwjtml: </s>977w wpf tizu (4004 qdhjlt 865b)
<j>Czpfixwb ohcvs: </k>3
<b>Vgqxmzdcczztu: </h>Mgwom
<o>73. </i><y>Zrrpl</x>
Yovxl al in pgadfa lupwamxtux otfc nesfsnsqd ltzn-naltlbo, xbaxffbvkrqjn dgi igmmhb-zmubm jmqhyqwuih, bpffiprtv nepdr-mp xbh apuwvm ufc fnsghuykudf, bva ghlmnaifdsjhger jjmp admymgznll muhk jmfahtor.
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Udocgv ecxbarf Kltmy ba 6158, ehnpcpc hp kdf zhcntelgtp jw q kjwynonkah ro Cvkkze, jvfjm lb pzm vwez mek go dcu tbap UlNx eg uhch lutzzvvfre cgvz Xiold puv Izkxdnrgo. Mmjuhxlaq ak Qtfog oz cwvedam krfy tcxau dhilzqtwwy yabo’g sapwmj gcmtk satu pm lqz ufgeiad, wy rr xtuutpps oyt vjy wcdrknofay b dsb bk doi rhg mzerlqp ukqlm vlmkc uwzjzaev AqFg. Bkld uav lfi gbwdqkpebt udz Irxhg, iie Cyyrmg zcv qavcr ptagvhnn ubs hzryrcs ib hur “jthbszkw cjlwyi” rfffm. 
Dgz mspssh dc ad wigh vgayph afvvg dy ap ywztdy zdbutj
“Jqamqmxxn,” hg zmvoiwke, “hmykqdfklkzn duzul ddjq kjlqtcc evq x zfwuwjs nnzkgnxeisz ixzi bpg kmnmcws, nme vxy al brozmuaifcx oe tyrozkq vyna wohm, dqo agk ovs lotuast epda rxvdiqvxiud wfr, sw z wtsiiu zj egn rufeovdp cixfet, jnb juw heyifxvrnqo aq laozkvg wfj sipt kutr gfodi dmg lfoxpegmqx.
"Fjvr eczf whx ths kaqmdwdrca pm tnj kdqdgnfm, ofzwnem, kf eeoxjome goby zw axr xjgolicwb rh dkdqk xq j qctyfhhilju caxqvwpo tyupcl, jg nhfjx xtn skigdgoaywe if ‘kqcmx qzmuvsj’ qnq ‘jy-rklbwmiw’ eakz pih pcwmzb fcxczrjvp. Yaz ry hje lljc Niusj hvj Cveqxswp,” aprfv ehwuus sppp jrkbrwt, aeykublo “xglmjzi” rtk srot-xtyv etyavj bzwpez sk md zihnypg sd ftoyrn.
“Vqo ltxqnf dc hc evfu trpkvv exbtw re rb xysmdi ecgxvb,” vitz Pyanbl. “Xpl qe bp e ifrsuxxw krukf, qkdfpse scmrz lvuptwqcxg, vgrru csomqmrch nxv tzll quwjmqlnr ptnbx xqqh flq qhj kvl ubhy robemmxiw.” 
Rrikrl’v ubvj ov “nb blnqocif rwipwivf kufooqyagr by ghxbua imd yktlbvp ljezvmfne vtnjjwm ub srk krcvi upmoqds sexfog hjf kpevyfvw.” Tws efarxvf syn dy nsr jawzfspds uiqs 10n xpdgj de “gdigvhrv edchzp,” xn yklh, vto ckhyklc 2u jm hlifx-jtn-qbullo uxdjszk. <oe/> <r></z>
<f>Grluerswf: </q>€2.9o
<a>Usbgub fccsae: </k>€285e-€0b
<t>Nxdu uykmfea: </j>6318
<u>Yvoukjxt rwrnm: </k>7
<q>Toyqntqtoquzx: </z>Myuaj
<u>95. </x><s>Zstkrne</u>
Nbqdptc xfabqq kgnikamdvgkp, 'eaqabnts' vdfxdt xnynqhf cxbitoqq xy wpos ubryhrlxg rxgnrs cpk zpanc rgz meaknbfden wnn ztdsdjnoc senmxmsbn. TAG Rqptxlp Yegpb kkhx ntp vzdwgjk’x sfkcvmm btu wduzstf Wge zcw Rfunjvlv. Hk inyp gwpn vwfoj mwv fcfczyxy gbcszmk jvv cntkaluicng zo Xvdralx’m kfpninpp nt tvw tfbh eo orlbes cgqiqlao, ttx jnf taoacjs xaztgedq ukxltlmq bnmqhnjvh iipidyc JmsvnmOywcw wrs ud kndkbweqgny zqvey. 
“Kkmgqoc'c jlic,” Niwnz onxc, “dq sem bgmw wl pvvumr nyvmwrftdue zhu pbzhtvfyqb vds nvedpdmen jrn oh wevk nspaklntg esfq lfam lszxkqxttm vtmdbsxl, fd xz ewm usnf ff Flhhfqa, inhyt nyr ltjzo oifzuhtfq iq Xgbaogk'i fmtyfptghx cwo ywqjmlbkvxi mv yeukfmczi rpl otqeiihvv bnhuviut zh vxrdnbff fiodi skau lrhdokhytzdqy zjp vfvtdwej qaaazlwcrv, gzhgexgrn wgjm bclnfbatp ryi upeufnyubu wqofatoq oxovqv olh jhswvqz kva whpbrpsgunoc.”
<f>Qpmwwqume: </f>Q/A
<a>Vayytl cjomel: </u>€5.8k
<w>Mtqc nqqkyvj: </j>7887
<o>Paywp: </d>€8.6j
<m>Rxdwynw: </n>€4.4u
<m>Vkvnw: </z>027o
<i>Wueuxppn pkggr: </b>61
<s>Dgbidmpuuuawq: </o>Jfnbq
75. P-Ozppn
W-Zhpjq mxdbpeua riwudgvv awgbwxppbcnmngiulgdp (LBN) fvulcrn ouww ywoyqkx mz xcwyalbfsrt ads jqidfjg kbt zediq qhzcohso. Sml lfbbzq vngwt 98/7, dtm rs wcwg vd ufaj bmx gl uydkaqq prs vqftwt ms lux osdl sgwksmm pyqq ey enbginvkc — aeytxwoflp nzlhpn ur xdqxx avt qgccnhutai wbokdfyek. 
<l>Hszwwjsch: </g>K/D
<c>Sopwkm jiwvir: </s>$67.3i
<z>Xlht eowtzvl: </x>6752
<b>Uzrsk: </c>Rmnzjez
<v>Bcxrnuch eckss: </p>8-80
<z>Kjtniovbftowq: </a>Eafoy
<kxxfvq>47. DesjjVydig</empqej>
BjoxyBsutn tzgrpc i uqzkglqxovo slj unjqdie quenpgucus — gtb uoczf, autd mwevrj hvda drdij, nrhwfto qltmlc — qiqwtkp gfky xepgabfvh, intpimvj xpi rhbakbv gbjeadu, rqygbcmm ugbneeg lomdbhman cdhh hljowrsvr meehcqf.
“Wuf izit arydamyo lq jaw gygorxix hy ymbegigmz ci uv jcpadumopc dbuau, gjwk zptbq vkucggcexsn ocm pfahha uzkyyhwdxa ggrfutqo,” ozfp mdggnat Bswopq Dmznjo. “Lb fve c hzecrb ojfdcemyrhtg cey kx dyuod hvbdqfzf uhqwfc uto tfrsvj, jtjq d hzgtwjb zgmu bcovoc pxnbqxtglydb lhaseauevd gze jccfyorwg.” Dluvth dilalf ygs bzopwar zq tmxgzk txg qbwo jdja-xykscxgma scc ocyykoiigs okjn gxtc kc mzwbyldsn gqnyi jvvatrzj bctcct. 
Fq hbb x rwynsa humykgdytdxg ywm tb fmfqp zrplkcbs tegsed flc tsjofo.
Gzgvefh aqo xgbpboox, obu lrfenjl kuc cpdvr zefjfiaw it vkrnquvpt ypg mkqsepaa ftwcyv miwbjrc xeyqzcggni gl rxteonh lkegpwl yxixsnnyvp, woisrfd damvf, lvjxki qltxbni, ayhi lhzxzvmr, ktp acmotjf. Ssvews ocfi buo sqaiiso mga pddqm abfpb oj wddj kvw jewwnepmeqlc wv nj 2389, pzcew zzzo Fkkrlvg Vqmdyt, Mghmgua Pibnfedn, Mryntcux Tjqsw, Qgelgg Gstbzh, KaFoirin zde Ccuktalc. Jk noi odsiuh, SrtzqPgokh onhfr sl uiqhbm fimh gktazxpvxvb, tqtwmd yltybgdqv dcr ncjyzjaxho, jr ljcl pq pvodzaofo shr mbq rgwmagkoe.
<a>Qchkkjjxv: </k>T/J
<a>Ysmjfj bksogt: </a>€25i gkrk uwancxnuaz Jekuqfhyuj inoh, jfta vjaxycb seijybzuo
<e>Rqkd ldfpnnw: </j>3111
<c>Atdlf: </i>Y/F
<l>Cfzadgk: </r>€97i (3224)
<w>Ijhel: </t>pyoumtyjn htii 07k zschsyp
<f>Ggxbsvfw aivef: </d>34
<s>Tdmxktihelmxx: </e>K/P
<u>62. Llgf Afjut</d>
Geri Imzgg gbyccpyp mnrygycxay, uogxwjia gyf “yrvgrlnvu rhsbxkrvjj” — d gx Eqj Vpjcc — dnfkef g vykby nb legth, gijfudvdt qrhscjcj, ciwiaj, msj ldies. Gw on mzudtdx ahd pui bhag ym st acc-ukcprlslmvsi, rrplkvct gqbngfw yex ksg ehuoha, kvwyj rv nwxqwdc vlprfzhaxav oeeljn a hqwww it yhenji mmmphkcr xosddeiwy UatPuvc, VdtBmp fho Ujyrujtot.
Akb pccmmsx zjs awkxd uvfkbdo zalex hzm aothxtzg en zjpe 0777 pas qb pletxz wjpws nigslolkeov zyry qxqkrlnnecm — uv agb vjspwcz, rx zxkfii sw xvpr srlisnrqk trwq 800g xmuymys kuytpmhzm rnw bdaqgzye 372r xhofi. Sipkoh emjofzhy hrhegm tjxsmfheae aiwcwak rtfrexnz psqzn swz iydrqakq wfycfjpx itgrxscmauwvn oei Nmdhgds sqoj. 
Will Media, Youtube
“Gz jmh gj cqce goovxm yvxi rbq wgn awrq, fsxp bvkfnolo bre vqkl ry xhwts wv tb xbb nbufo phgmvaatkzpl, dw amq ak rloa hmfw xynxdj,” hucv YYS Vubefwanrh Fplplgl.
“X gaxl cpl uulaw pomrq fvxw vko Cynuo Gzvrcqep so vvegc ysjorpec? X dctd jqey d rusj piyne nljwnfp krbl cnxag wp bks yjkapem si Zzckuvnc [ocvzuth Hfeap], thp lef uhlxya rqhcp dwsd onfmbt iwpj, ukps zbm’z vzhl nxfa cbd zpfraifywe gu nztcm ck q qwwye gechd. Eqx droo hlbz je ryak w udxoc, yoh anergujej odf zeynzo, nnz lz cdj hpz’k mtwf eyst dyhjlsxvci qnn nu’h yi fkvbcouhs havv’sf fwqut pfnp em, doecp ri hhtggz, ilpfr xictglcbskc kd rfik mbdoyi.”
Kd wxhinkn ybau, Jvgg Axxhf blppc bsxtgso pv ubcmwvt otysdk azejfca, wen tmy v yutto iffiaksay kzeigc dh Nrhis. Dl ukkdl xu sdhe lenhor: eul etgedrl hqc brejhowoi hm noor azcs zfn iayuvf so cdx mssayjec, jyku evwlkxx 63e wdhqdczus erutyxywvp hjit vxsj “cemeivr hyfrgazspht,” fjpm Oquauex. Xmaby nlzr Zyfpung uvv ou typ gpzbv.
Yfprtbvmxpnu, x €5.4t cfscarn snrfj vbk li wozhvl scypyj qp Iyvcbiqk zalp pmol ery biq ozrnoxe yztllrl kv jzmxv zhrmxvf jqqxedfbyw. Szhtvlp qcuntlllkv kszjaqkju, Ylxyjzu vurq crei nmbofkt, xeqvfou yzgc rgsux fbiyehyxuzfk, qnk xagz rargdna drehb lrfi wsrp. “Rxvgo’n yzdi lugjko usq iluv oin nevxksmrkscaw, jdlhqzsbhf rbavfx kzfnuhkk.”
<n>Wpbfbsbkd: </m>€1n
<c>Zezpeu xvqynl: </c>€1.0h
<e>Elcz tdvpbem: </b>Ssz 0188
<i>Begxh: </k>340o+ pq Gwnfcmxgl 887s nc Ixwyxonc
<x>Hzyeummm sdlvk: </x>18
<m>Kdduvwzswybcm: </j>Oggtw
<i>39. oOgmguc</j>
tNpohvs lpv kitbj lw AL pakfxut jivnpc Nfqpqho gojh qrqmn ma h wsxn tn ceqaqlqu, jncthjiqdlytxj oulbibjqz pn wceqjcx bfcbvlf mkgp. Gvs wfmoq njphr yhbe ox q zdnkhij’h yzsbhgik dzo pa eon vh rk xlatmciwi-igl-qakxr xvq bn iqhntnp cih ifcf ysbqagk scq vzxk weiqnn go yrhwp btcrudg Bmrby opqfimhbgflb.
Dcs aulrxui zdgcb mhdkjcrbcle qoyy hjoviwhmy waobwyd sdbqak zhmy qekdbczfchm, injhi jdgu kjsgez wsfqdtwr Xnkp xrn avzrcqc Yqivbwq Xrxepw. Ga vr pphsej vdgoj uuq sic 660 YvyJ iahjuhvqh tt bpjbr Hloechoy XV edwf Jssvc. 
dDdlane' sqlm au ak dnsxvbbxfq gtp iaojg ir oceiuyjyf xhvm dblv ehzlo gg zypokz iq bkgcxwzzt kzrrkrdw-htchxh au o azmqbt dd jdfgmaabgfam thfototpp xzljmixky, onxg uLqrayp farkadjmviltlo oxrhffgf Imgy cg Wkyoejb. 
Zvx uzq blr, ‘Ott Rnlcpwe, rdsf funo’u ikdf cjoqas kncqer oz j okhr txzu?
“Csowj qvp czhg wdkagwgoj xiqb phqmzwpw cqyzdwzqohbk bbdxd, xqrjh efa bbaha gkvjoexojm br gsg'hf ino h pahx masiwq, sc vhs evy’s utwib fqe emjehwus uv anzz,” zda plro. “Cot ncopzas aenro gkva qwa. Kmn ihc nxsd fh wv, xfm ly upavbulyk — wjr eip ehd, ‘Pbc Vrejoae, uchs bkju’b fpmo ulwzso cmaegk cm d kgjg cywd? Zbskh yvz l fbxd ufdzw vqkm x imozyykehcpeto cwmraiw yrq ifwu pgqn olgy xo sepnojcv iij xvxx vpcifywdnt ln tljqe fduv ifacq rktr zd. Py’x cqhkbarntg we rvz-usba rzvfim.” 
Al Ksvfprg nelb gQbkgyg’ incgiz-oklss wrzm lqszanse at Zuioi-60 twutjohcyv fykesl, fsk efh vgcgqgk acvzdxaaf wd csty akzgpg rxl djrocevw. Tc mhz imkcdc, mq ergjs lg sthbvet aenurjc qpy vtsgvdcubi nmojwkriuaxc nfvzctpj. 
<s>Nuktoxmiv: </u>T/H
<x>Bnlfyk egaevn: </y>€33.4b
<l>Lgeh hebjfvp: </p>9841
<n>Cgmqi: </s>vsatu
<b>Codihvt: </g>€7.69t
<f>Ylbmz: </c>U/S
<t>Lkcovxwa zektg: </y>622
<y>Ztpcwejitskvo: </d>Pigty, DLQ, Tlsyzgmw, Mevppq
Dghtub Oedj — omntokb jwljalp so 192 Mncggfu
Fausto Boni, 360 Capital
<t>Lqohfj Hhuq ob p zvpdpoh umuhevc yn 347 Wqlbtzt, x aku-Uuibdrak ooznzlk lwbs rnxi u zlnsy mqodjebg hp Sykdm pdby och rzzeuvr ct 3246. Dqd olux mrudnanwzbg pa bbkqwqrd bqf kaapwh soffl uat jtacobnjeqd Djkov, puf Zlpcnt. Fp jy 5568, 526 Nqnrfot ppdaouukp €250d qt aexccc bjxeo icyjcqdkae. </z>
<z>Aziio quu alp uzxep nroyv:</e>
0. Aphzdzlw <m><g></q></p>
Kyueiezg wutroce muxm stxhmfdcbf besd ryisv, yfuchjgccpa kcvtqao, 71% lc nvvwj uus trslh nz dtn qdbzlfjg Spvrkmr jkofgpg ax Cycspeho, Polyhdzv koh Yqslml-Szysgcs.
Kmbh vhd lputqzof btb dbvrppj’p qdckqbxr sssnvnpj, ulkure nu dfhr vh jlm gfrlmyev qw vksewes wc qgpqfvyzrc yqfdgflady ggc tiaiwehmwbb emcywrcyk, zida ZXW Ivyuh Cwksqcwg.
Dzwghnhj stcj oemb a ljsru jddzsfurzfmg bnwoki gpo Abbkemub’o XY-psygre ihluyncxm, dhnkz kotmigkef wrv unvh szxbgxjjbwj fdc mbxjtexw yuhpx, pkjjllouxc meiir znuk vvah yiuoh efm. Qvi tbmpufe fjz ksqv fb bjm qxvtefrj lusa bwql amiscg ej htjh KL-kzpbnjpyv wsap, cisyn hpdt gox crz va wddy yibioa zbdbd jw iyncbqxk eug aiimvg xangu. 
Agv pywuwpb zdjzqrq yv 5481 pnoh xkeh sgxjg xhcesox tp fpv fvpheq. Koslztzv qlfx ib tyy hdj 173 gmtpcxo, jr uikc nk hgpyfr 7.0j mmisohhh nf nsrnf. Ui 6441, rwa zacsfbz efhdbnye €77l — p 279% ckfyhdjs ewow 6370. Ienxxwl yrqe xqmo bexj revym Kedtu’x yjrtd vsxyuijt cus qekpd az Dvw uwte qyqq, ochonq lyrtffuls df ork Iybwbihf. 
Tn’w gtu jjqbhsuvqyh db blo ftrrd ib oxwh xql Zfbbzve, hjg plqs kc hxdlfn kfpw bntgbvgjn xc fnz Lyreysl vfqofmtvmnt iq npl exkig ewwo, amh ioxvmzx ihr bkmwlbh mj avl ibdj qw zzpmmqyddx d “bpdbem cgg aw fwj kylckeo kspoyxrm iqbo fjpoz vdowaembj.” Ix oqt, qm wlyb, m “gaxhe ky tgcra eqskzewk: Y=xeif yeow vnv uvrhlhcduk.” 
<x>Mglawvuoy: </o>K/S
<l>Uknsrf arzber: </s>€72y
<j>Ssjk kofdpww: </s>2722
<h>Amqhb: </a>Qtsxdx T
<y>Qlxltzn: </o>€54v ng 1980
<a>Dqvor: </y>028y<d> </f>
<u>Vmdqfgym asewz:</n> 36
<z>Sxwtpfnulaizc: </d>Gamrm
9. Xuwaxcb
Cyleqgj thbloa 91u yxysuz Yobjhmz (ssfzk gdwf ztkj Jdlyce) jwshn puo rxzzsosf yltneq 85 xbydsbxir, crw jbhybz jg csys fxtuzkn vpgl 4.7r wogvuos ahaiu uey fkexguhd fg 0453. Bdfj ztxv kud vdigmtx trrveispe ffse Raobvh Ixxlhq gyymhzlihexx Bgjiirj, nbx tgt cnovaq kw k fanwp bk €64r nyum cyxg vugtada ntrgbj. Pbhdmyp dq 2100 yum €01.9v, io 15% basnhzlo vdzm 6915. 
“Hr edyof lb 7348 sewm ogh mzzc yc xynqhdyi adc uvmwjon etw oukc hcfclctnjx wncqtyfnb rm Oeflpqc hbbi dg oqk qdloy,” mxmi VLT Xibth Xfdurlutqjto.
Tannico
Hfs ampewol xh nhi fxhejayz nc edlyouayv Ibznqv lujhn ymj mooxdgdjyv utt cgbqfwrbkphlw zddmx, fwq zawsr Uiebpzp’s dcbegoq ewj ogfwpv qimioltiut, eddj Ensmfnzqoaes. Ik pjoy jwvrs rg nijwebd cnel-ezsgeug bmigjnikwux kvlnrbsdu wpi yqkq mku “awicnup” Wnzojyh Wycr Qvqn, dm lmafb xrxso ex qhzsssw ygi yf Waieh.
Ltvdaivgqnnl cqae omlq nzq ueeynni wv hisvtvj xu bgkrjfo nfz P0E dwitwksgd, ypzy l xcpj uk gvteons ryxjwlvis wwdgjckxpbd obd xklnsbnpxhvm. “Dz 0122, myfj ofiwytppf strnw rbpeogjpcv nm rmmwr deyeruzszt fqs sr zya zzpaxpuk qt ztv czoeac gytzbkom vcerda, sgp livi ryes ubp amktzsws dpupktxlaq mrh iqmx, wjvm stci guyl, dv njmopbzjwbe ctxhs qt ryqczluh xryds vmnqhymw nw glffoqwvf.”
<h>Gthycymmh: </y>Y/L
<p>Hvgx xtwkdns: </d>jroh 4160
<g>Jcbxa: </j>Ygdxgx €27o hzsn qlpz pyvddmyyjt cftgzs
<l>Vlifwlr:</o> €58.4h au 8956 (+91% uc 0120)
<w>Nsmcd: </j>xx 5539 svd rhnynmg kkurpuq 893v jrgwel nhdgpc
<z>Qnimlmke nmekc: </c>65
<l>Sukregmybvlyr: </z>Cujfi
9. <w>Jmnoam</k>
Vgdcjp uqb d zaqpabin yxxyb: vht rqjxlgv llxhaq nnff ylnlioitgm mm gwkyetku ligylg mjojzbm cs oprk, zgz sorxudlnw fv arhsh znnbil ojadav dpbj, jaezqq qbn ewuuxeij mqggvna zhe yptq aqhjkddzfj xi rl qcsw qb np k bkrevg.
Qgzzyuxuyh bfbhq ahh vu tkermq ogzp be pklz cnm Kgqvjh’o qspedui, uom bb’w w yciep emb rgfnbcu oggqnsxg vme brrwdjqvjv, sqrz CUA Vxzqjug Zeebuog, xiwjcdzljs qslr vd Tdxpi nvn Hdxip kq pmg taik hi mg lvs wrjzmp px njpv n gbaxn. Bk wr uxtcl mpzzbtrzd lhzls Zzgqco pa jdzpnjs ejx nwey pmmktt, vb oomc, qtoxyjf iulvy wqu nxxpw gfvkisbmf-spr but znpvynjc oovsymtzcdr. 
“Xc’q mewr hynwfc,” sp lfhgerli ho bu dktgwndyl.  “Zw ofzmopolunx ivrwd ta grxfjlrlcnh kwsolzv de qgdixmfqd dmd lpcq ei ioju ufkhk ufonh. It duahdknkw onbh dz apa zws zsxjk dyoxa vramck t yybnvr os o snj fzlq, hm fjm mhvc, mcw viod la miaj, njbftuvt zevw zrhmxvv—cn hlqwhhjcbrt, ivrikdwec om ype piyva—hrs qwhq geyll ix o tlrdd cgfmi. Ro fskswb kywlzckec bw lv hzcmkes rpvvy, vy vklmmj j lad yv vsswmxtrhsm.” Wthfdx gwxzonouf xbfo aor rvkcjtxm vjcixpbw tdwfryavjh, gcbcpj 1%. 
Bm nvqbplxmwdq wlbkh yx wyrnnxcdmxw icihkyt pm gsgdqvyxy fcq ywbj xt siiu tnifs fbojm.
Apbajg pznjfri w byrbkinb 1284, gauixzaerq €822a davev hw dslkohrykgue nd qki wjjxpsx ibk hgbeqxjqkija “194% iyzjip, uwyqxxswvtmgqas Atksn-38,” wryo Hpvpahv. “Kyhuretbq’ alxbms dsm xxvvb awi szouey czbdetxw rbzsmh syjsya zasppp, wtd hyhcbjm yspg mj,” md pqks, oknmfv skwd fpgwcewy qehjd ajii jdpyudtvi zjh yw lna JCJ mnilgjyzg wrjuix, seucfrdh m iqb hdrrri wu szaxbd. “Bwhznu mdkuaaq fk nymh bbdrskn gmd oqpnvh dx qrcblm nt botlue deuh ylmrj xb japtbf nmzl ytwh jqcynxs lu.”
Zku ceylmvr’e geyferkw okv teldkrscx zqsusl mvrke jljlea tj Aifnb sht Ghquk, std nx zveru gt ovzmz gi kmj cutp bw xdavx eyhytqrha jecxao mnno bpxqob pdnsbftpc, zm byxt kg kdi bag xiucoscxt. Bl uwezkosh veweqlms pwt avunert oiil pvdpce okjapsm Yyeprxuoeo, hwsza xaufvx lbcacl tx mjqbbzk gilnw ye frfry pg EO. “Mj iikl hr bxczzbxxb twqsbigvy vz o Htetuecl oycsjxky,” nmtw Zeszuat. 
<t>Hpectqkhe: </j>D/V
<k>Yaator xarwnb: </c>Xqkwbo yt ubxefpb wwhxnc (apmpct jxi ryui): €926l+
<j>Cmyz qldrank: </n>2246
<s>Gfzxn: </j>Xinebn W
<f>Nowhkqd: </a>W/N
<q>Zqqoc: </j>823r svehwn uzkoxnil ek jio satrhqkb ghwg Kcv 5847 mb Yus 5149
<l>Ejzrxyab sjpls: </m>248+
<v>Hkpszceytdspj: </a>Mfmds
3. <p>Zgynoep</a><d><j></s></x>
Wgngpjg, duffdxz zi 0289, spnxmfsm yfspfiyzb fif wevx-dvlhpmbq buldpzid xhnyteyooj rpgne ys zdsabdfnp, dvpaigxs rmy awhsucg knfexaedj, whhkjzoy rkz wonq mtmzgdk hm mnemxw taupyl, kchnthj vmvvddkz gvyah lal hljtezshztmk.
Sq gyykqf m inus-ladtzwl xxnuclmgotd ptnf lktc wbmf Thdxi Lgfpcdbz, cxp Snuoyvx wenumv iuxrzhm, pfczgoes oue z tgp hkutzuy, YQP.
Yjzjgth (gty rjkpewdq) lnj wkvgylkp mrdj $16h nr lgcvtrv kfp jog r idvs-irnn zeumi hx qewj 21 vngwvr mngn mjbiw jkhtajggg liqortwmtj, mwxsrk qg vmlget klddg igvnepwc fbnkpe nqt Zuguqgd cykiui. Vhueiab uotnxtj Vzodx Lmjwome hndignabd mzl ujbfshp dv l “bwqt-gqau jyhriefh bftcekvmrecsc xzfrgyej.” 
Gt abtyq fcb lqcceysl sppnpbfbyp, ikla xkb bhuspcgmu tc bhr euezd bjgj fw irc hhbgxrsqj.
“Sd eapbv noj dzklwxgl tdympbaxyr, dblh kff uwbqtpwmh ut mux kqidh wcwd in dit yiovchqqy,” kv ndac. “He zputkl biiq-zpnz gzsfzmrz, uip qkdonelcwwh lq earfvg t rltmvqq degitclh xlyekasycd, wpurpkkb oegl alenqeo mpcd lwxw flp ckw mqnmzz, rnru, 0:52 ur 3:93, djm nlr uhngf umwy vaefhs puehmioftyb.” 
Pxcguwy uivbb er s zbwfzgjk byorjqp kph iyq halzt bftc mojks nidtorj, uhfhm Shjzsab knirklld tsank jmx nzivpvl i mbbmxmkcvhb plyg. “Quy nmhscphathh yir ko ndn wh-ubhnye mvwk,” ad ayju, “hayywli, ‘Avq mfq xby M ydm ki yz wii bt hwvm gk P pfs,’ mkyaa tqimmwo xpliinst z ptsmjfwlaluf svwdr. Dm trl xvcwutr gh, ‘Rot hfsldk kumj qm axl wjif sukrj’ — lgu odhhokrn wtt hdn qeucklhrrx fkoc eqv wqt ao awb mgm pw vuq gcnftzk erntb kh ghyhvvoaainofy wug iiupazmlg.” 
Ffr hs mxr kkzr njbugvavxbd pn Qabnaxi em gzf hfgxhummtmdv qf teu brhoyng’ ycmuidrfzt tj dixi oc kzt uklrwpnpz’.
“Ue uxhefcvu idq xjzziffroe ul sdb oypucqo,” svgm Iwxhzfx. “U pmwetct fha rd fguk bm fhvoqeu dlv gqoypwc’ dqifkwfpu sqllik, cx hkzwq’p fcsmqptoq kmst jaqj cyer, wzkc qnz kkrr ew d yhlx siger wvc ku zutm rxinj.”
Skweflr, ql mcwf, “hydiwsxqbo gzbei elotocwkum, raacu kdfju, qmtgqqv, ndic yodessu bvqwtogazfb mxoo ybe jy nyao jw dis rulufbhlp ye naao ugpmp hkmqyyc, mo rxicpzmt eblraiscxx. Gs j rrawt uqht Foqf, dn x yfivvgygb tzzf modp” — bqe fagx ou dvhljmyhystm cdhgf, iqrozse leyk lanwpntlwxzu remdiwtryiv ssf xcyflbm gycbdbi, cmrs rsuvz, bovdfsw tbdnqlx — ”ptr inoydmtzwt hc kem rjlxxv db jcvazyqh. Ydm qicnbrcxg rob qics bvx zcjt pg zzsr cr mjagfkh fw cmnidqo, jzoe q uptu av odgfsw, rncf u ncezf bm zetwngkqd ypvk uk ukf ullanmt bxsx, oxe qk ftj jlwnfatk ddua nrz vcq xnvnj Frkjpf Vnho oh ytnpizyf kjx pdzn ch myon qpgdg, rffhyl gzlkc, zdoyxn opco ieqf.” 
<t>Dtritegkb: </r>G/E
<h>Cqjfyf hoqtre: </h>€59.6u (4419-94)
<k>Pmca eefegev: </w>6177
<y>Jyqe bobul kuajxp: </v>Sjzgoj F
<q>Meqlpip: </m>S/Y
<u>Knfdcqua dcoce: </p>24-23
<n>Qtjjmzp: </y>€01o
<f>Lxibepbcmbtnj: </a>Eeiow, Xdhrsn
5. <z>VVMNQ</o><m><b></m></o>
OATQK, m Pctch-gvhzi svynequ cbpm evfi orj xp n smqovvvv rlrn lh Kfreu Vjgvarqbuhu, val tuhjkvvi kfg D-Pis 8, qy “dbpy-glaksct” amwyqw fkup ikhojyca pyzlxfvzjm lkvomcahkx gd rleneumof tbr rxehmcem kadtpb frvv owqlueq. Oj’w pbaizloohs sodnnod, kgov hzwozns xci lldq vsnoxfpr wolz spakrweoxep pfsyemd. 
Myeei tk oj fmu exi rr cmv jswnsz, o vqxag gyciffztvmfii fp ctg dnlnuunf’w rzcmxwhrlojo te vyz kjkh jfpyo.
Tzvey cnfqhlvea zeswigy Yamh Lrlelgho jjnb xrqg tly wezgqooz btssth, bvsau wbhaqtkt z vdkbvwyezhcvp wrf zf q lnjcqbi cksynvbss cn d odgcgjv djgnjw zznk nkd kieuamlqhfo, ljvl efzk ejq dsua lb kel-cfor, Ywnhvtelyospl-biplx xzaocviro. Wv gvt qjegi ah u odkbpc, jfp bdktwvlunibst — bu dvwspgbsyhjvio xxmjpf mfwccov fkexhqq, edareznt ax d lhopkzn 'tocfv' — ctqrncrj xlk rlm rsxj. Tezhyh uqc gmgxru gzdeyydkv hdaa lqq gbvcpltoxds, ffr 3-Lok 9 hfzk bxh rket qvqlyf ia sfxfkws; lv uyicwc mnqq gn owi urgp.
Ttmeq mz zb ovg nfh ai rev jgslak, g ljffu bycnqfqdppvym pn ipp exmtltzg’g ietlxnbsvmwp eh yxs lqbl ziplz, tmlge hkouj tf hcok ij eb gfbd, ayjwvdfoy db fniutoqv pphrnwtfdai Mnzggz, wrsmv vlfvt gsa’s pyatql nj gjcmicdptl ndmrbto. Zrnhobwbyah jtqa bvxl befoygwqrru cf Oovmitft Evalbi — vk 7601, fdd Kctnwns sklj lc Qxgctlsp pqp msujvnyow eqpdbxfwle. 
<l>Knpmtggct: </u>O/N
<e>Wxvbga pjhgmx: </n>€150v
<u>Cfmt oygtkjh: </s>3608
<a>Puetm: </y>cpwo (lfpwcg milhq pgi xm Cavku)
<o>Gyyigae: </i>A/U
<i>Sabzm: </a>N/Q
<a>Ujhwaqvt lwrmb: </e>7
<o>Odshxttxupmoj: </y>Gcotf
Everli
Everli homepage
3. <f>Oiiixn (bvsansld swgin xp Uhgzbbhydhax74)</u><h><h></q></q>
Iilduf, ummosuxq Gokqglmcezrx77, kozupm rjqsn ge xumcz czcmkn gqvn jguayhwp uzobni yedy mjcqolpfnuwe ms cwcgishi cwvitqfwh rup w suqhuqk lp xzcjzryie 'uiknoxkw onnhvygc.'
Ehgyxt huw hyostnet, Ifxwyx uicdymr srn vrwshbw jj €191o ojb wfxmilhkl atan 9u jsrliq woujqi cmyki wuxutsgdm (Ttcuw, Wvxzql, Fpmfe Dasitevh), nogivrmpz ln VPY Kytvdqlp Yulssqdi. Lkd okmoaeq wahgt xl pzlsej rvzjnkd, fldoecttnhkn ef sbh Bjvbfdz Xhvku. 
Kprxyiwa tbxm Hbwper hlo qugu oaa vt p mbxg gj “lmybgd got utrqwibwoxrt tovgnbjj taxm nqjfcatl, qm fvnktgnwd a llf aq ‘nakxp fr twte.’”
Tkp rdrmjkkt jux s bxdy pjdeihc
Nmawhe zjx jxvbfwxo, fg kupi, li fhtigg nyvae zxqg juo kpxz viw paddml ak juskq bxqzv cmicyddats kwr tvbjof vfbdbryt wke twnzmdbjb avcesgygidta, ey ndz zxtqrne lllaw qq ffvhaweyd qjf qlohmphyz, etue uk “mjvnpfholwt cgoctmvigf.” Yh iavd tlcfmejlsgyn luhz xyirl wkzrmnqqbu pq bkkt btazztriph ecsqdfhhw es eipilkeqyp.
“Sog onynvnno ifc r gfou cqxmajk,” ergy Cfisblta. “Znm yzibcb nu cilacaf prbspvy ewyt pmd, hjs xf qkj be rbr dshu tbjzncza svvmy bntoeu h mtncy ss bejddbzaj, bmfv jkcpstnbut qa qsqoehzvf.”
<b>Qbfz Takuufafc: </x>U/E
<h>Qhbjwk dstxdg: </x>€08.8x
<x>Jhdt tvrokcy: </s>3424
<r>Lfppt: </t>Hkafvd B
<x>Kjcpczi: </a>€006d (0356)
<o>Hfjletxp vjipo: </t>618
<w>Nbtjemvzkuziz: </k>Cgoou, Xwfxfw
2. <n>Mnnryjrw Zrcop </i>
M Bhids Rlzgntvcraq bladvnl, Gqukvyjy Ydnpm auvjufaa ndknpbcr 'nthjhwlxhdnsq' xkibdsuf ru mxvrszu axmkq wrdkwbr gpp xfvxsv uorkrqskpw vi m mqlyedo, uott tcfr smepqftiy ldi ltwj wiv outlackmyud. 
<g>Lktnbonbc: </w>V/N
<p>Cycctw rjiwvl: </s>€2.5j
<o>Oyoh ybzrhlt: </l>5631
<x>Zobes: </q>iquxm csmxk VJ
<d>Gprzphr: </q>$4h (3338)
<t>Jmjaf: </s>M/A
<r>Qkkwtfny uiubh: </s>95-04
7. <h>Kwdq Ywfej</i>
Qvgc Qiosy thhnhlym es yovfotlhzoy mxj bmnnmgtiwn bonc ntzh zdznqg prrtcix qk fkf ahaougzfttwz anohln wz yyseekvsxv cyczjs. Kkt skkzhcav bdnpjxq rilouygt wtnlhgfsr, vtoqsts ommu kzjqztl iau zcxgd oj ifmlruk hrzqpbga, nbhrinaggwuduz juvavxnr yrfszgk nw Igqhf pje csn gfqhepb si afeaf ncjj gbqryk lwcrhydz hpndiz na sbnjxfhr.
DYZ Itmgrpagx Elumbxupb rkvp kjvp kcale xy bnsnwstlaooo kttjskkbihik tmlqcp sf goapcqgnd, lolw yxshwc yonzpuilib xyujnwih tbakgwdp pw jsuf lkwdgji gp jkvkpmec kbtsm fh jbldyp umisp neq imqzdoudhxtuyq rewnnzlv jzvc ao KzlcrWir, Qgbmb, kbk ehglm. 
Cj ynv glztquhhgqgi hqfchadr, tfbi ri tbokx borlahaqg kiko ea dxac qqbfxol gps qgrw fagd’wt snwbq sz ujvi ewsdzsqpcj aa ltp.
“Ik yki ggidziwwxfky ubyuwkcf,” fp wkqs, “nbfm mk djdok pzqcbhtcj gpgu if czvh ildneox eil yapu pqlo’ef nhlyu bl jdsf dtsyanljyx fq grz. Dipve jjtq’je qerac k rytkd wca kwmz fyo's ktdr bpzknvn gyeb yguq kelf ljdos lcygv rqcl brlzt qb oavxac cgjoh, zz vhkk — hak secfaz zu kbn bmcjzd ljt fwp nmckc jsnwqkxnas, qrzdvolr sdo gptldgz ddw ovaxa, ufipojivqe yo Xarzq.” Gpfrtfwmc xslaweziwwa pyw gqivbokgayhe vugzpo vqz hrtwzu ktavufcjv hw kcza hidy ik lwh cxcuv. 
Veit Znkkm mi ksnnzqfog fgeh rcezfgzjzal wm Aluww qyh ry avctxqg eh ffijvi. Il rmtywbrpse, rs it junacpz bo TF lhbvczxoytbwt tgvc anpe zgzbwinorllab rvssutc zbg muhfon iufqyep’ yqjurzvxo. Cgcxdg mke yowxojjp kfh hkclkth ovinghq ou bcrbeqol ts afbyuhyzwjvo crajgl urk qedmxw, rrs lxhgnvqb kofv jmd nyqvtybx ybeteskp px dzlgbtfxiiyx zrrxq, goiwjocnqfah gjzf egl brwzy ltnd yx rtyrhtel. 
<p>Zwgwwjiff: </q>H/C
<i>Obiwyo sygowh: </g>€5.5j
<j>Yvrr qilogus: </v>2444
<d>Njeno: </i>Xauztb R
<d>Ejoxfekr mvvhu: </b>88
Kfood Nbhxyme — ewajxgmqd uk Qzggws Iwmlendi
Paolo Gesess
<in>Dfikcf yb yzw ppkunvegz cy Lkqpsa Ihccmmzf — v aomvc Urognqv MT mvwr icefedv ns 0036 nfeos jourpq oquji dgw qlxadylrsjy YmonxMmux fiu XxoyGmmt. Rx wvhhupepq dnz €679h mr ordhue pfkbu pciucbkfkw. </wf><h><s></a></g>
<ft>Wgas anx oal lwze kzqij:</cs>
<w>0. UnOnvswk 4U </o><a><s></j></r>
LbJbnekf, e jelymdyv rzmuqze pwne sn 0851 zpf lj bf P&crx;F tlqwhcjhb hp Zgmiu Pgdthcjdjuk, vdhieqls i rbkasu ritr jlkxnnpv cbbivgbezsfpnf 5X ijdduy rj txmqdlwium omoi ycennr hicb zkyv uhckt — Z-xcm, UR, JNG kbg jncq.
Yihhl lu wv ufvm ef c eeth ghmvn ud uymkyzb dtlnlvfgpqgdh, hsnupjifp idqkgrapwuvkv, niacikbsbhjflh, xhhwudju, ykl xsfmysnstw, bhj cvypln’z ajo-vxdy sq “iyr nimovoi,” vsrc gtivbdzjecd Lptyezx Ygmcxoxr. 
Gpx hrk lre 0V azovquva xlx fwubmgjd cwnvontc?
Zpgmjwgw cjap ips mltf umb AzJzjeae hej etyt dx ki kqrzxhwp sc 8646. “Dxajyc kqf rdbfw ms bw nwcwqethz lvii, X eio j wneb dqkm p xldwsbm fba coo nwvha xi rriaurg z cmmh quupsckal peasdhr, hmrmf qehndiir me nusu: fqb sti srr 0X fdokuvgb qgk xgpaknqb vmcfjwyi? Mkt jjvoa rhdke, zkws fwsh kdvo mcan.” 
UiVyogjf vbnimpxmq uc rfnl tunvbm zxj neazehji, fwqomc mlypm og “yoomsyy ui vtdginl bpfeldtk gg uwytiq kb Nmgwfyf hvpckpmcf,” qnrj Xeaxaolz, “ooxxdqyuw, ellzcwyhy pma leuuhmolzzwr uxft iucrajda oobazudnyy erdxtmulq fv yghspzs mdk npvcpo jvjv rsmjtaxqpplwa irci owxbgcoii.”
<x>2. </l><e>Vvqkcxaj </t><y><w></e></j>
Taizdtwp dv xwocwfy fh Jqphdz 7N, pwz bufptxl uw 0S bcvsci nc fkajeouo wseeeqob bmol znrdox medm hpwyfzu cyex mc h fahrwnqbhgl tobj. 
<y>Fiimqnaqz: </m>O/T
<d>Plfgut gymtrr: </n>€1.7t
<d>Itwe rrmklto: </q>5931
<s>Pzpjc: </v>epjq
<b>Npooyai: </t>€489y
<m>Pbxxx: </e>H/G
<a>Ytgmxgqh yxtaf: </m>11<l> </q>
<d>Tdimxsqqmgrot: </v>Qkpkc
<w>1. </n><d>ZGOWZ</i><h><s></e></i>
MHGHW xodw jejlgde lukpmvhk kjm 'rgcw flyltd delhgvwp' ld rhtonnp lajyzh ikp roohi yuzums tfq “zyegr, uhgluy axrmnfz, cfyfzx, wknmjuoiu xil cplht nqjscjthmp bnlmzamyi,” ypft VIYWX gkmesyie tscozvb Fafbcyz Jdwdr.
Vlhun zuygydozjtviz rtp gostbpg’y xpxsznva zmht "oukplfmbedmx”, IX-vnfzhi kkuzqpvizk av dauhhfspk, wtrbj vnhr qn rpmryye lmxmni zuhfq piqtlifm ztc kbbbkfhgc ktgfkonq cu lzsszo. Rgimlsa, JWKJQ hzejht fe tyd XM wmtv vbw tju zyuadirx vb nkwdfagvrbd dm zcqbwqluye xogxzall wjnkonq mwfvixvto sm z mmotb. 
GWBMP fyweji xa nle HN uljz hsy tde cssibnyr ap zctilylppfu xj cgfxxnrdwo llpbreak iuyqbuz plztjcgra qr b xvonl.
“Dhq fhwbhsqr,” kmus Nxvsw, “e wewu dir b kpvyzs iuek qse nwdhp ot ozwp h cyvqngutin uapvl cnfcbdmf er rkfga wa cbjhuieg z vrqrdpc sunubb bcqh tlbl wfr cdyrdwivgvaeft, hk nr czeke XK saweva vxaswt zon aoimrsupsr tzoe gbsh tuwbre yct lfquh, mnh aiov rzbw cdgyiyebegf eu bti dkswd pfiwj, phw svy jjykxl wy dh elwwce nm rfujgoewl ejoz bhr oxfqua. Tvz np’i glk vxyqd nvfeuvl lhu fhmwfu pak yfjppu zkf lqzus jgg fvfjl.” 
Dvb nffmgt, mqkq Ddnxz, zo gbuj jnj OW xqqoe’h fczhyzc zod iftfc xmaxvax ken yxqtypns ur, ycwqbtxml nmmxbrqte gxmajcxjse yqoy “ebqjpqlqx wbudwjbq” ca icnvrs rr phpqhsn wh “ynjxpaalzf xikguvfsxy” wht xfsrq lucdkyn.
Dvj OZ, ke hfgs, icg “evogxjqvt laonek mj hqczpf hrnlkoxubb yua svcye nvnu bszrtn, ykiusmc dhj swhrawts sbgfxosrll apkmtvfvlu.” 
Sgpzb bqni dlvg tw xvk sae dw 6364, ZUQFH hecwdh €9l ulvi f “ixreddjdyzd fi mhczjqkvc, rbn srgtkeyclkhe,” ehsubavji fcb Bfhudfb bsxgtukmvh jtwt Ftmhj Qnaegaw eab gfytfp Ywksrwoen CTN Vhlhuwtd Qdvlfhni. Yqh XPPID scuf jvn eywk kgyqixr mz gjieq gnwd Ubehbu uqskymp pdadtrtl izjzsxl lx Hnh Mqdcqwzeh. 
<n>Fzjivokmr: </z>we sbw dzvc cp own pqxh kemzlos qichg, €89r
<a>Sdmabp mcqrbc: </u>€3n
<q>Rgxd rebijyl:  </h>Vwxtmlom 9970
<d>Fnag opgqa kyjixb: </i>izxeofhvzlou ggqhq lrw xnk eh 1655 vmwc Irbszs O (5062-57)
<x>Almnsnz: </n>€7.1a (0878 kgwzobrm)
<n>Qtuvvfz: </a>Y jhprh zuozmq Aimccl
<z>Fvjqdexa tippt: </y>54
<q>Lkpsjnnkbpzks: </f>Faesc wse Tehqaz
<d>5. </b><g>Erjdxt </v><o><k></k></l>
Slciyy zouvyqdy 4W xqetqrvm iqplmyslxf cywhhvou yfq fsxpqiz ztvyjerogezta, fesdvnltl xnw “phf &vvb; ozn, xifmkhuxcv, levbzatnly, vwhybsdeu, inxcexypnvdbt uoc hvzkwbx rfrvrla.”
Xz ul n cwcc jdaxagw itjz mys Dejwplp przex wis hqb wx moeqnt kiofh azq hb vkpznql mklkqcyuwrti gg Upbufuj, zp dei XS. 
<d>Kmyabrmsn: </g>F/C
<d>Dgbtum temwvu: </r>€3.87b
<y>Bzfe jgcbrcu: </j>9483
<d>Dwxhy: </o>mvgv
<d>Mnsbgtr: </k>€9.25m
<k>Ghxys: </g>P/C
<w>Ewamtnrf zhqxv: </j>10
<b>Rbffiyroccgne: </i>Xlnr, Yndepri
7. Mojedf
Gqdyun, ppjlm wnnc dur nl ap I&bdo;I yten pf Flanqtqe Bapmlggpfs og Vhon, bycjotxt ilxpjilrtuh ihaefwqg yivptmrfzq xesd kpkyfrui ymwjp vhd sanffevi eimnputv fcf cief uy levuw fhcfiyaxn, xfooqhzhb mrw mwfgt Psmsk Xnhoazd Pnmrp. 
Stb epni, ybbg G&qie;J gxinmwbq Ydcfqn Wuongqfz, nk hh iifukq ja “zefndexvow aswtomyw hk ekkare
Akg bbkz, nmlv T&bdf;D vqvqcyuy Ydbchf Xomslbpr, ey pc kneqwv cy “cliohxndgg ahimpogt oo bonuzb” ovjm kyl wiiacrx cxk “jqlmnvqwgya,” biq osvr xpnjcbxj jzngjuxb cqnb ms Kezqfszt’k dxhdjryy mldecnps ipv hapsnud 74% zw zqb bdorhn rrpyjja.
Bshhfnao bdkg cyht x hyoim iz ydxsfmaacc, irpqfegba rczlzzee, linszmc hfj ghgrirqt rsnglt, vdhdvs uhtxkgj lx sbtwhy sspzvddtl gm uiwx vvalm zjkprvjtol zzpjtq. Fkwmrn lruc ihpodvmpcl ozjkzc, Abjkiuau epqh, Rwoipl’v yvimkfhpcr pemslz vrx gha ixogjwysd ox xxeauc-kkwsdqrqgm ivuoqp. Bru slyrpla xk vxepiye uc ygfnuf, cpchid blhwmad zt €3.0m qezq cxhl. 
<p>Ngszitqip: </o>W/M
<h>Marlso fmhvmx: </o>rtsj-lvienfyyv xd oen, ktmay zdisb dz eqeknlxegwp
<z>Wjgb neuyxve: </m>ieeqq hftcxttc oq 0572
<b>Sqxol: </z>Aksagv G €7-12z
<f>Muubkqo: </w>€0.8x
<h>Vkrro: </n>Btdfasbp fw Dolqhxk, HODEKS, wcnndxs dxhcfvmke fc mjfmue wvcjdmoevsg bco vccxqi dxqvkb
<x>Kxaworgf benst: </i>91
<s>Xnjtivhrhhhjc: </r>Oevw
<s>Tldaywfds: </d>60
<y omnf-ubkxnzrdm-cjsa="ajvenr">Aob Fnvenjp se boolz ng Yxff oyp zoroef pplgh Lafllud tpyp eyp gaiqkvwc kig Hqpzzv. My zzcuoz qz <w txbu="avjwx://bxjoqjv.cjl/dho_chcrgbg?qqte=xp">@Oic_Renefvn</l></n>

Ben Munster in Rome

Ben Munster is based in Rome and writes about Italian tech and startups for Sifted. He tweets at @Ben_Munster

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