(Finance) – Il Fatto Publishing Company (SEIF), media content provider and publisher listed on Euronext Growth Milan, has signed a investment contract for the acquisition of 10% of the share capital of Kikeroan American startup founded by neuroscientist and researcher Giulio Deangeli, owner of an application aimed at enhancing the speed of learning through the use of artificial intelligence.
As part of a broader investment plan – to be developed jointly with other investors – SEIF has signed a simple agreement for future equity (SAFE), i.e. an investment contract through which the investor, in exchange for the cash contribution paid to the startup, acquires the right to convert his investment into equity at a discounted price and upon the occurrence of specific events (liquidity events or equity financings).
The total value of the proposed investment is equal for SEIF a total of 300,000 euros to be paid within 18 months from the date of subscription. The financial commitment is, in particular, structured for an amount equal to 250,000 euros in cash and for the remaining 50,000 euros through contribution in media for equity activities (promotion and advertising by SEIF throughout the national territory of the app subject to development).
The contract provides for possibility for SEIF to interrupt the disbursement of further tranches in case there are delays in the development and/or delivery of the application.
THE’independent director of SEIF Giulio Deangeli he is the majority shareholder of Kikero with a share representing 57% of the share capital and president, CEO and legal representative of Kikero.
“The scope of the activities that Kikero is developing have, prospectively, interesting synergies both with the Scuola del Fatto both with our editorial products – he commented Cinzia Monteverdi, CEO of SEIF – This is why I am happy with the agreement reached with the founder. SEIF has always been attentive to the development of new technologies and the potential arising from the application of Artificial Intelligence in the world of media”.