Seares announced a seed investment of €400k led by Selected Investments S.p.A

Seares, a Livorno, Italy-based manufacturer of boat components, announced that it secured funds totalling €400k ($485k).

The money was raised from local Italian investors led by Selected Investments S.p.A and included participations from the Corniola family office, the consulting and participation company Intermedia Iniziative and a group of private investors and business angels whose name was not disclosed.

Seares, incubated at  the Technological Pole of Lucca in 2018 by Giorgio Cucè, developed a mooring sustem called Seadamp, a mechatronic damper dedicated to mooring boats, and able to improve comfort and safety, by recovering energy from wave motion.