Gruppo Uvet, a provider of solutions for leisure, business travel, mice and pharma travels, invested $500k in Digital Magics, a Milan, Italy-based listed, certified digital startup venture incubator (DM).
Gruppo Uvet acquired a 1,8% stake in Digital Magics.
In conjunction with the deal, the two companies agreed to make investments in online tourism and travel startups.
Gruppo Uvet will select, mentor and co-invest in companies either proposed on its own or by Digital Magics. The They will also collaborate to make an investment and innovation plan to systematically scout and selects startups, research projects, IPs and innovations related to the tourism and online travel sectors.
The first investment in the framework of the new partnership is Plannify – an event serch engine incubated within Digital Magics.