Zest discloses exit from startup Futura; return investment 15 times

(Alliance News) - Zest Spa on Tuesday disclosed the exit from startup Futura.

The company disclosed that Zest's first exit generated a 15x return on initial investment and was finalized as part of the EUR14 million Series A round concluded by the startup, which saw French venture capital fund Eurazeo, Axon Partners Group and previous investor United Ventures joining the company.

The startup has quickly established itself as one of the fastest-growing EdTech companies on the European scene, tripling its previous year's revenues, with an international team of 40 people set to expand further.

"This exit fully represents our business model: we supported talents driven by a strong entrepreneurial spirit and great determination with our acceleration program, initial resources and ecosystem, rapidly increasing their value until the exit, with the entry of leading international investors," commented Luigi Capello, CEO of Zest.

"Zest, with more than 250 startups in its portfolio operating on the main innovation trends, was created precisely to launch the next generation of Italian innovative companies, supporting their scale-up and extracting great value for its shareholders and the entire ecosystem."

Zest's stock is down 1.8 percent at EUR0.27 per share.

By Claudia Cavaliere, Alliance News reporter

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