Italian venture capital is back on the rise. In the first six months of 2026, startups raised €643.43 million, representing an 82% increase over the same period in 2025. The H1 2026 Investment Report by StartupItalia and Pull the Rabbit captures this snapshot, which illustrates a market that is undergoing rapid transformation. The sector is consolidating: investors prefer to place money in fewer, more robust, and structured companies, with larger average rounds and a rising emphasis on technologies, beginning with artificial intelligence, which is the main driver of change, including in business models. "Italy has the skills and startups to play an important role", notes Simone Pepino, CEO of Pull the Rabbit, but obstacles must be addressed, including a stronger exit market, additional private financing, and deeper synergy between innovation, industry, and finance. The challenge, in short, is no longer simply to create startups, but to help them grow - and keep them - in Italy.