Artemest secured 4.5 million euro from Olma Luxury Holdings, Brahma and Nuo Capital.

Artemest, a Milan, Italy-based operator of an online marketplace for handmade décor, announced the completion of a 4.5 million euro ($5.3M) in capital investment.

The funding was provided by a range of investors including the French private equity firm Olma Luxury Holdings, the Swiss holding Brahma, Nuo Capital (investment holding of  the Pao-Cheng family of Hong Kong led by CEO Tommaso Paoli).

Proceeds will be used to further develop the company's digital tools and its platform.

Artemest, June 2015 by Ippolita Rostagno and Marco Credendino, developed an online marketplace for the finest handmade décor. The website provides access to unique design pieces, decorative objects, lighting, table and a selection of gift items strictly handmade by the best Italian artisans. The company closed 2019 with revenues of € 3.78 million ($4.5M), a negative EBITDA of € 2.6 million and net liquidity of €182k

This is the third round for Artemest, after the one million euros in 2017 and the 4 million euros in April 2018 in which the previous investors in the company took part, including Italian Angels for Growth and the Swiss holding Bagheera.