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Accelerator / StudioAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 12 SOURCES

Startup Bakery

Also known as Startup Bakery S.r.l., Startup Bakery srl, SB Lab, Startup Bakery Lab 2

Milan startup studio (2020) that creates and co-funds vertical AI-native B2B software companies through its own investment vehicles (Labs), aiming for exits to industrial partners.

HEADQUARTERS
Milan, Italy
FOUNDED
2020
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
5 people

FOCUS

STAGES
Pre-SeedSeed
SECTORS
Artificial IntelligenceSoftware & SaaS
GEOGRAPHY
Italy

WHAT IT IS

Accelerator / Studio. Accelerators and venture studios that invest their own or programme capital in very early companies, for equity.

ABOUT

Startup Bakery S.r.l. is a Milan startup studio founded in February 2020 by Alessandro Arrigo and Angelo Cavallini. It generates ideas internally, co-founds each company with a sector-expert co-founder and invests from day one through dedicated vehicles called Labs, which take significant stakes; it does not invest in external startups. It has created six companies: Donux, Veterly, Condeo, Sencare, ESGmax and Kontai. The model targets exits to industrial partners; Zucchetti entered ESGmax with an exit agreement and Edison and Consis are shareholders in portfolio companies.

INVESTMENT THESIS

Builds vertical AI-native companies in niche sectors where proprietary operating data becomes the competitive asset, designed from day one for integration into an industrial partner.

PORTFOLIO (6)

  • Donux
    since 2020
  • Veterly
    Software & SaaS · since 2021
  • Condeo
    Real Estate & PropTech · since 2021
  • Sencare
    HealthTech · since 2022
  • ESGmax
    Climate & Energy · since 2023
  • Kontai
    Software & SaaS · since 2025

TEAM

  • Alessandro Arrigo
    Co-founder & CEO · source
  • Angelo Cavallini
    Co-founder & COO · source
  • Flora Giannone
    CTO · source
  • Andrea Friso
    Investment Manager · source
  • Margherita Colaceci
    Investor Relations Manager · source

LINKS

FAQ

Startup Bakery is a accelerator based in Milan, Italy, founded in 2020.

Yes. Startup Bakery invests directly in private companies.

Startup Bakery invests at Pre-Seed and Seed stages in Artificial Intelligence and Software & SaaS.

Key people at Startup Bakery include Alessandro Arrigo (Co-founder & CEO), Angelo Cavallini (Co-founder & COO), Flora Giannone (CTO) and Andrea Friso (Investment Manager).

Startup Bakery's investments include Donux, Veterly, Condeo, Sencare, ESGmax and Kontai.

The most recent publicly reported investment by Startup Bakery is Kontai (Second ticket €200K from Startup Bakery Lab 2 after €100K initial (total €300K); seed fundraising opened), announced in Feb 2026.

Yes. Startup Bakery manages capital from outside investors.