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Milan

Metro area · Italy · Pop. 3.2M · WithinWorldEMEAEuropeEuropean UnionItalyLombardyMilan

Startup funnel

Milan's startup funnel

Companies headquartered in Milan at each stage today, by total VC raised. Hover or tap a bar for the split.

689
Startups
$100K–15M raised

310 pre-seed · 233 seed · 146 Series A

92
Breakouts
$15–100M raised

64 Series B · 28 Series C

9
Scaleups
$100M+ raised

4 Mega · 5 Mega+

17
Unicorns and/or $100M+ revenue

9 valued at $1B+ · 16 with $100M+ revenue · 8 both

Source: Dealroom.co

Quarterly report

Milan's latest quarter in venture capital

Venture capital raised by Milan-headquartered companies each quarter since 2020, split by round size, with detail on the latest complete quarter.

Latest complete quarter

 

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Enterprise value

How much Milan’s VC-backed companies are worth

Combined enterprise value of VC-backed companies headquartered in Milan, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.

VC investment

How much venture capital flows into Milan

VC investment into Milan-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.

Largest rounds

Largest funding rounds in Milan

A live treemap of the largest VC rounds. Each cell is one round into Milan-headquartered companies, grouped by Dealroom sector.

Largest rounds in Milan - 2026

Every $15M+ VC round into Milan-headquartered companies in 2026, grouped by Dealroom sector.
- rounds · - raised
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Academia

Milan's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Milan.

University-linked startup formation
259
University spinouts
1,844
Total alumni-founded companies
1,381
Of which startups (<$15M raised)
378
Breakouts ($15M-100M)
85
Scaleups ($100M+)
University ranking By alumni who went on to found startups
# University City Founders Companies
1 Bocconi University Milan 1,952 2,195
Unlock the full university ranking for Milan on Dealroom

Location comparison

How Milan stacks up

Compare Milan with peers from the same country (Italy) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.

$124B
$106B
$91.2B
$68.7B
$66B
$61.2B
Milan
$39.3B

Combined enterprise value of each ecosystem.

Get the full Milan ecosystem on Dealroom

Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.