Premium Store, a Milan, Italy-based innovative startup that operates a platform for Italian publishers to distribute newspapers and magazines online, raised €1m in funding.
Backers include Digital Magics (Borsa Italiana: DM), which invested €200k (now owning a 63,5% stake in the company) DBInformation (Roberto Briglia and Gianni Vallardi), Johan Bode, Financial Manager and Partner at KPMG Advisory, Ivan Boni, Sabino Maria Frassà, Antonino Pisana, CFO and Board director of BravoSolution, Andrea Rangone, Professor of Digital Business at Politecnico di Milano, Lodovico Rosnati, former director of the Equity Market Division of Borsa Italiana, the business angel network Custodi di Successo – Milano, represented by Matteo Paganin and Marco Pastore, and Applix (Claudio Somazzi and Marco Cirilli).
The company intends to use the funds to expand the responsive platform to distrubute products for Tablet, PC and smartphone.
Led by Alberto Fioravanti, CEO and Partner at Digital Magics, Premium Store works exclusively with Consorzio Edicola Italiana – founded by Caltagirone Editore, Gruppo 24 ORE, Gruppo Editoriale L’Espresso, La Stampa, Mondadori and RCS MediaGroup – to develop and manage Edicola Italiana, the platform for Italian publishers to sell newspapers and magazines online.
Users can subscribe to the service, search for html5 items and e-books and access to the publishers’ proprietary apps.
The platform will be launched during the Summer 2014.