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EpiCura receives a new €5 million round led by Europ Assistance

The amount adds to the €3 million raised from various sources over the last four years and will cover costs to continue territorial expansion on a national scale.

EpiCuraestablished in Turin in 2017 by the two CEOs Alessandro Ambrosio and Gianluca Manitto, is the first digital outpatient clinic in Italy with a network of 900 professionals in home health and social care services, active in the 10 main Italian cities. Since its launch, the startup has offered its services to more than 3,000 families for a total of over 31,000 hours of assistance. During the pandemic, EpiCura expanded its offer by launching an effective tele and video counselling service, as well as long-term care for the elderly throughout the country. ha offerto i propri servizi a più di 3.000 famiglie per un totale di oltre 31.000 ore di assistenza. Durante la pandemia EpiCura ha ampliato la propria offerta lanciando un efficace servizio di tele e video consulenza, oltre all’assistenza di lungo periodo per anziani su tutto il territorio nazionale. In 2020, EpiCura ended the year with a value of production of €775,000, a 177% growth compared to €280,000 in 2019..

The € 5 million round just closed was led by Europ Assistance Italia, the Generali Group's leading private assistance company, which entered EpiCura as an industrial partner. Investors linked to the Ersel's network, a group of angel investors and Club degli Investitori, which had already invested in EpiCura in June 2019, also participated in this round.

Thanks to this latest round, EpiCura has reached a total funding of approximately € 8 million. In fact, the startup in 2017 had raised €105,000 through SocialFare's Foundamenta #3 call. Following this, in early 2019, it had raised €1 mln with an equity crowdfunding campaign through the Mamacrowd platform, in which Boost Heroes, Club degli Investitori, LVenture Group and Club Acceleratori had taken part. The latest round was in October 2020, when €2m was raised from UniCredit, Cassa di Risparmio di Savigliano, Banca di Cherasco, BCC Casalgrasso Sant'Albano Stura and FinPiemonte. EpiCura, also in 2020, had also raised €500,000 in grants thanks to the participation and allocation of FinPiemonte's SC-UP tender.

The amount just raised will be used to continue working on the simplification and digitalisation of the social welfare sector, which is still very much anchored to extremely traditional dynamics. With the intermediation of the start-up, it will be possible to make the care offer much more flexible and adaptable to the needs of patients, their families and their caregivers. Another of the objectives is to continue to expand across the country, increasing the number of cities served with current services and with new proposals thanks to the evolution of EpiCura's proprietary digital health platform, through which patients access the startup's services.

Alessandro Ambrosio, one of the two CEOs, explained: "With the new financial resources, in addition to strengthening the growth of the team, we will continue to innovate our platform and support the entry into new cities with home care services, in order to be more accessible and efficient".

Gianluca Manitto, another CEO of EpiCura, added: "In a social and market context that has made it clear to everyone how much home medical care can meet the multiple needs of Italian families, as well as ease the burden on public hospitals, EpiCura has found not only confirmation of its vision but also the incentives to make its offer more and more complete and efficient. Thanks to Europ Assistance we will have the opportunity to expand our business".

Fabio Carsenzuola, CEO of Europ Assistance Italy, commented on the transaction: "With this round we want to strengthen our presence in both home care and access to qualified medical advice via teleconsultation, faithful to our promise to live and work well at home".

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Luca Coppolella
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