Milan-based indigo.ai, a Vedrai Group company and a specialist in conversational AI-based virtual assistants, on Wednesday, announced that it has secured €10M in a Series B all-equity round from Azimut Group.
Azimut is an independent group in asset management, wealth management, investment banking, and fintech.
The Group includes several companies active in the promotion, management, and distribution of financial and insurance products, mainly based in Italy, Australia, Brazil, Chile, China (Hong Kong and Shanghai), Egypt, United Arab Emirates, Ireland, Luxembourg, Mexico, Monaco, Portugal, Singapore, Switzerland, Taiwan, Turkey and the USA.
Giorgio Medda, CEO of Azimut Holding, comments, “As investors in venture capital and key players in the fintech ecosystem, our goal is to support innovative realities capable of transforming markets and sectors. indigo.ai perfectly embodies this ambition, thanks to an exceptional team that has demonstrated the ability to develop scalable and impactful technology solutions.”
The funding round follows a year after raising €2.5M from Vedrai Group in January 2024.
The announcement comes as the company reported an 88 per cent increase in recurring revenue for the fiscal year ending in December 2024.
The company will use the funds to support its consolidation strategy in the Italian market and its plans to expand into new international territories.
Following the transaction, indigo.ai has also strengthened by establishing an Advisory Board that will support the founders in the next phase of the company’s development.
The experts who will be part of it—Gianluca Ferranti, Luigi Maria Fierro, Federica Pasini, Carlo Mammola, and Giuseppe Stigliano—will use their skills in market strategies, partnerships, and human resources.
Michele Grazioli, Vedrai and indigo.ai President, adds, “We are proud to support a project like indigo.ai, a pillar of our long-term strategy in the technology context. This round is not just a milestone but a step toward a joint vision born three years ago when we decided to invest alongside an ambitious team in cutting-edge technologies to face an increasingly uncertain future.”
indigo.ai: Developing conversational AI-based virtual assistants
indigo.ai was founded in 2016 by five university students — Gianluca Maruzzella, Enrico Bertino, Marco Falcone, Andrea Tangredi, and Denis Peroni).
The Italian company utilises Artificial Intelligence to enhance communication between businesses and their customers.
“With this operation, we can consolidate our market position and focus on business and technology development, which have always been the focus of our investments, aiming for a sustainable and profitable model. Our goal is to transform the future of Customer Experience to create long-term value, working alongside any company that sees user relationship management as key to its success,” says Gianluca Maruzzella, Co-founder & CEO of indigo.ai.
indigo.ai does this by offering advanced virtual assistants that enable companies to engage with users in a smooth and empathetic manner.
The goal is to focus on improving customer care, fostering loyalty, and boosting overall business performance across various sectors.
In addition to historical clients of the caliber of Enel, Santander Consumer Bank, Lavazza, Bayer, or Telepass, in the last year alone, indigo.ai has signed collaborations with important brands from different sectors, including DentalPro, Opyn, Università Bocconi, Consorzio Netcomm and Pensionati.it.
The business model goes beyond just direct sales. In 2024, the company launched its first Partnership Program to collaborate with system integrators and organisations that help large companies with their technology choices.
For 2025, the focus will be on advancing AI technology. The plan includes developing new solutions, improving features, expanding supported channels, and integrating with customer service and CRM platforms.
“Thanks to the close collaboration with Azimut, we will have the opportunity to consolidate further our positioning in the field of digital workforce creation composed of AI Agents, supporting companies in the adoption of Gen AI and LLMs to address this new phase of digital transformation that is redefining the DNA of organizations at any level,” adds Maruzzella.
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