Pietro Lucchini

DEEP-TECH ITALIAN SCALE-UP WSENSE CLOSES A €7.2M PRE-SERIES B ROUND TO ACCELERATE EXPANSION OF UNDERWATER WIRELESS COMMUNICATIONS After securing a €11 million Series A round in 2023, the scale-up led by Chiara Petrioli continues its fundraising journey to fast-track its growth. An international leader in the development of underwater wireless monitoring and communication systems, WSense has now closed a pre-Series B Round, with the participation of Fincantieri. The global underwater industry’s economic value between 2024 and 2030 is expected to reach 400 billion euros. WSense – the Italian ocean tech company enabling the Internet of Underwater Things (IoUT) through its proprietary "subsea wifi" systems – has successfully closed a 7.2 million euros pre-Series B Round. The round of funding saw the participation from existing Series A round investors CDP Venture Capital SGR, SWEN's Blue Ocean, RunwayFBU, and Axon Partners Group, and was joined by Fincantieri and Rypples, an ocean-focused impact investment firm co-founded by serial entrepreneur and unicorn founder Jerome Ternynck. Founded by Chiara Petrioli, Full Professor of Computer Engineering at Sapienza University, who has served as CEO since 2022, WSense delivers unique innovative solutions that ensure seamless interoperability of adaptive wireless networks between multi-vendor underwater sensors and autonomous vehicles, with unmatched reliability and scalability. WSense's patented technologies enable real-time, secure and cost-effective underwater wireless communications, allowing for the collection of underwater big data on an unprecedented scale. This capability is transforming the study and understanding of the oceans and their impact on our planet. The company’s solutions have also opened up a range of new opportunities, including the monitoring and protection of critical infrastructure, resident autonomous robotic networks supporting energy transition, and real-time underwater environmental monitoring.

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Breaking! #Shein fined again. The Italian Competition and Market Authority (AGCM) has fined #Shein's web sales company Infinite Styles Services €1 million for the use of misleading green claims. The AGCM called out environmental claims in the #SHEINTHEKNOW, "evoluSHEIN" and "Social Responsibility" sections of websites as vague, generic, overly emphatic and misleading. Specifically: ♻️ environmental assertions relating to circularity in the #SHEINTHEKNOW section were false or confusing 🌿 claims about "green" fibers used to describe garments in the "evoluSHEIN by Design" line did not clearly indicate the life cycle environmental benefits of the products nor their marginal percentage in total Shein branded products 🛢️ claims in the section on Social Responsibility to reduce greenhouse gas emissions 25% by 2030 and to zero by 2050 were general, vague and at odds with increased emissions in 2023 and 2024. The AGCM said that consumers could be mislead into believing that the "evoluSHEIN by Design" collection is made with "eco-sustainable" materials that are fully recyclable. Once again, the AGCM emphasised the enhanced due diligence obligations incumbent upon #Shein as a producer of highly polluting disposable clothing. Competition authorities in France and Italy have taken action against #Shein and #Temu multiple times in the last year, and the EU is also investigating their business practices and claims, but the most important aspect of this is the message it sends to other companies. False and misleading claims about social and environmental attributes will no longer be tolerated, regardless of the omnibus confusion. NGOs and consumer organisations are also likely to take legal action if regulation stalls. What should companies do? ✅ base all sustainability claims on scientific or factual evidence ✅ conduct due diligence to identify risks and impacts that could undermine or contradict those claims ✅ trace their value chains and collect actual performance data on key social and environmental risks (e.g. scope 3 GHG emissions) ✅ don't rely on audits and certifications to prevent liability Michael Posner Dorothee Baumann-Pauly Markus Löning Justine Nolan Simone Cipriani Matteo Ward Sarah Kent Equiception Business and Human Rights Christine Kim

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