CDP Venture Capital has led a funding round for Alomana, a Milan-based company developing Alo, an AI operating layer used in finance, manufacturing, and pharmaceuticals. Alomana has secured €4 million in a seed round led by CDP Venture Capital through its Corporate Partners I, ServiceTech fund, with additional investments from Italia Venture II, Fondo Imprese Sud, Founders Factory, Kairos Ventures ESG One, Gresilent Holdings, Italian Angels for Growth (IAG), and Club degli Investitori.
The product, Alo, automates enterprise operations by managing data, documents, applications, and code. Unlike AI copilots, Alo is designed for execution. It can handle data analysis, generate applications, create AI agents for specific teams, and automate essential processes like financial controls and operational tasks within one orchestration system.
The approach simplifies AI integration for enterprises, allowing them to implement AI quickly without complexity. Alo has been applied in finance, manufacturing, and pharmaceuticals over the past year, reportedly leading to tangible EBITDA improvements. Alomana claims over 500 enterprise clients, though this number is not verified.
The founding team has experience from Bloomberg, the European Central Bank, BCG, and NASA. CEO Giuseppe Ettorre previously worked in data roles at Bloomberg and ECB.
CDP Venture Capital, Italy’s national innovation fund, is a major investor in early-stage tech. Alessandro Scortecci, Director of Direct Investments at CDP, highlighted the team’s execution capabilities as a key differentiator.
Alomana, founded in 2024 and based in Milan, will use the new funding to enhance Alo’s AI capabilities, boost autonomy features, and support large-scale deployments outside Italy. PitchBook records show total funding at approximately $4.38 million.