Series B Growth Capital
Smartness, the Italian TravelTech startup, announced the completion of a €47 million Series B round, marking the largest funding round ever completed in Italy for a vertical SaaS company. The Trentino-based company's funding includes primary and secondary equity components as well as a debt portion, bringing their total capital raised to over €60 million. The round positions Smartness for aggressive European expansion as the travel technology sector continues to recover and evolve post-pandemic.
Pre-Seed Innovation
ENVIOTECH, a Frankfurt-based smart city startup, secured €1 million in pre-seed funding to advance its intelligent retrofit solutions for public street lighting. The round was led by Jürgen Fitschen, reflecting growing investor interest in sustainable urban infrastructure solutions. ENVIOTECH's technology addresses the critical need for energy-efficient lighting systems as European cities prioritize carbon reduction initiatives.
Market Context
According to broader market data, European tech startups completed more than 65 funding deals worth over €2.2 billion last week alone, demonstrating robust investor appetite across the region. This activity suggests a healthy funding environment as we move through the second quarter of 2026.
Industry Trends Signal Sector Maturation
Today's funding announcements highlight two key themes shaping European tech investment: the continued digitization of traditional industries and the growing focus on sustainable infrastructure solutions. Smartness's record-breaking Series B for vertical SaaS in Italy signals increasing investor confidence in specialized software solutions for established sectors like travel. Meanwhile, ENVIOTECH's pre-seed round reflects the early-stage investment momentum behind smart city technologies as municipalities seek cost-effective ways to modernize aging infrastructure. The geographic spread from Italy to Germany also underscores the pan-European nature of today's startup ecosystem, where promising companies can attract capital regardless of their home market size.