Rome, February 23rd, 2022 - Wallife, an Italian Insurtech startup focused on protecting the individual from risks arising from technological innovation and scientific progress in the three areas of genetics, biometrics and biohacking, raised $4.8 million in its first round of funding.
With this result, the company ranks sixth in Europe within the insurtech sector for the value of the investment round Seed according to the ranking of Crunchbase, one of the leading global databases of financial information on private companies, especially Start-Ups.
Founded in 2021 by Fabio Sbianchi, visionary entrepreneur and founder of Octo Telematics in 2002, Wallife has attracted the interest of more than forty investors of great influence in the economic-financial sector, including Wellness Holding of Nerio Alessandri, (founder and president of Technogym), Antonio Assereto (Proximity Capital) and Andrea Dini (Aptafin) and other leading figures in the international financial scene between banks and private equities.
What motivates the interest of investors is the mission that Wallife has set itself: to study and investigate the new boundaries of risks, originated by technological and scientific progress, related to the very existence of the human being, in the areas that constitute the very individuality of the person: biological and digital heritage. In particular, the risks still unknown are those derived from innovations in the genetic field (preservation of biological material and genetic identity), the potential dangers related to biometric data (fingerprints, facial recognition), and, finally, those concerning biohacking (use of technologies inside the human body, such as prostheses and implantable medical devices).
Thanks to the Seed round, the Wallife team is already working to study and patent new ways to protect individuals and develop the insurance platform.
The Wallife team can count on the contribution of an extraordinary global Advisory Board, composed of professors and researchers from European and American universities.
"We are proud and satisfied - said Maria Enrica Angelone, CEO of Wallife - with the result of the first round of investments, closed in August 2021: a result that we share with all our partners who believed in our vision and value proposal.
Wallife is a unique
reality of its kind, which for the first time brings together science,
technology, and insurance and which wants to explore product innovation".
The second round of investment planned for 2022 aims at accompanying the launch and development of Wallife's new products.
The company was legally assisted by Orrick, with a team led by partner Attilio Mazzilli.