New company name and financial resources for our startup studio
Delighted to inform you that, on December 18th, 2023, our board of shareholders approved a capital raise of 400,000.00 euros, marking a significant milestone for our company. This substantial financial injection will be allocated to fund the development of our forthcoming startups scheduled for launch in 2024, reflecting our commitment to strategic growth.
The capital raise is underpinned by the unwavering support of our current founders, who have already contributed 220,000.00 euros. The remaining amount will be subscribed based on real cash flow needs, with completion expected before September 2024.
In conjunction with this financial development, our founders have chosen to rebrand the company as URBAN FUTURES SpA. This decision underscores our renewed focus on disrupting urban services and expanding our studio's scope beyond Italy to encompass all European countries.
While VENTUROCK continues to be a valued partner, providing essential professional support, expansive networks, and knowledge, URBAN FUTURES is poised to maintain independence and flexibility. We are dedicated to seizing new opportunities in line with our strategic approach and the collective expertise of our team. The future holds exciting prospects for URBAN FUTURES as we navigate this transformative phase.