{"id":170828,"date":"2026-05-22T10:36:56","date_gmt":"2026-05-22T08:36:56","guid":{"rendered":"https:\/\/www.startupbusiness.it\/foolfarm-becomes-fasteer-evolving-from-a-venture-studio-to-an-ai-coding-start-up\/170828\/"},"modified":"2026-05-22T18:54:28","modified_gmt":"2026-05-22T16:54:28","slug":"foolfarm-becomes-fasteer-evolving-from-a-venture-studio-to-an-ai-coding-start-up","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/foolfarm-becomes-fasteer-evolving-from-a-venture-studio-to-an-ai-coding-start-up\/170828\/","title":{"rendered":"FoolFarm becomes Fasteer, evolving from a venture studio to an AI coding start-up"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Five years, twelve start-ups launched, \u20ac8.5 million raised, and around ten patents filed. Now FoolFarm is closing the chapter on its venture studio and focusing on a single product asset: Fasteer AI, the agent-based platform for modernising legacy software. The transformation, which began in recent months with the buyout of a portion of the angel investors and is accompanied by a new business plan, aims to build a national champion, with a European focus, in AI coding.<\/p>\n\n<p class=\"wp-block-paragraph\">To support the pivot, a \u20ac600,000 convertible loan has already been committed by a group of shareholders led by IBL Banca, headed by Andrea Cinelli, former founder of <a href=\"https:\/\/www.startupbusiness.it\/en\/foolfarm-eur-3-7-million-capital-increase-and-developments-in-the-us\/144648\/\" target=\"_blank\" rel=\"noreferrer noopener\">FoolFarm.<\/a> A list that speaks for itself: Cr\u00e9dit Agricole, KPMG, IBL Banca (second-largest shareholder), the Dalla Riva family office, Angelo Maria Moratti, the family offices Carson &amp; Nelson and Casper, Arcadia, Cordusio Fiduciaria, the Ottavia holding company and the integration group Add Value. Institutional and industrial capital combined \u2013 the mix that historically propels a B2B product to success in regulated markets.  <\/p>\n\n<p class=\"wp-block-paragraph\">The application modernisation market is currently worth around $50 billion \u2013 according to a report \u2013 and is growing at double-digit rates each year. The reasons are structural, not cyclical. In banking, insurance, public administration and manufacturing, there are still over 800 billion lines of obsolete code in use: Cobol, Visual Basic, Delphi, ABAP, RPG. These are systems that support payments, insurance policies, ERP and tax records. And they have suddenly become an existential problem for three converging reasons.    <\/p>\n\n<p class=\"wp-block-paragraph\">Firstly: developers who know these languages are retiring. Universities no longer train people in them. On the Italian market, a senior COBOL developer now costs between \u20ac130,000 and \u20ac180,000 a year \u2013 if you can find one \u2013 and their average age is 55.  <\/p>\n\n<p class=\"wp-block-paragraph\">Secondly: maintenance costs are skyrocketing. A traditional migration, managed by system integrators, takes between 18 and 36 months to complete and costs tens of millions. Failure rates are high, and the reusability of the work is virtually zero.  <\/p>\n\n<p class=\"wp-block-paragraph\">Thirdly, and perhaps the most overlooked, is European regulatory enforcement. DORA, NIS2 and the AI Act are no longer merely policies but carry the threat of real penalties for those who fail to secure their critical infrastructure. Modernising legacy systems is no longer simply a matter of efficiency. It is essential for operational survival.   <\/p>\n\n<p class=\"wp-block-paragraph\">Fasteer is not a copilot. It is not Cursor, it is not Copilot, it is not Devin. Nor is it a consultancy service masquerading as a product. It is, say the founders, an agent factory, a platform that ingests a legacy application, understands it, generates a modernisation plan, rewrites the code in modern languages (Java, .NET, Python) using object-oriented paradigms, and then remains on the codebase for monitoring and ongoing evolutionary maintenance.   <\/p>\n\n<p class=\"wp-block-paragraph\">The cost advantage translates into a system with a total cost of ownership that is one-tenth that of systems based solely on state-of-the-art commercial LLMs.<\/p>\n\n<p class=\"wp-block-paragraph\">The technical mechanism that generates this delta is called FRIO, an acronym standing for \u2018fast routing for inference optimisation\u2019 \u2013 a proprietary algorithm that dynamically intercepts requests and routes them between self-hosted open-source models and commercial models, depending on the task\u2019s complexity profile. The expensive stack is only utilised where it is truly needed, delivering inference cost optimisations of over 90% and complete code sovereignty. <\/p>\n\n<p class=\"wp-block-paragraph\">Four factors set the platform apart in the market<\/p>\n\n<p class=\"wp-block-paragraph\"><strong>Enclosed area. <\/strong>The source code never leaves the customer\u2019s infrastructure. Fasteer is installed on-premises, not on the vendor\u2019s cloud. For the banking, insurance and public sector, this is not just a nice-to-have: it is a tender requirement.  <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>Human-machine collaboration. <\/strong>A line-by-line review interface allows developers to validate, correct and sign off on code. Every human intervention becomes a training signal. <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>Continuous learning via Super-RAG. <\/strong>Local corrections are anonymised and fed into the central system. Global models improve, and updates are rolled out to all instances. This creates a technical network effect: more customers mean greater accuracy and speed, which translates into a structural moat. Anyone wishing to replicate this would need to build up an equivalent dataset, requiring a minimum investment of 18\u201324 months. Each partner then builds their own unique engine, powered by the experience gained on their own instance, which is not shared with others.   <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>Immediate return on investment. <\/strong>No multi-year set-up processes. The platform analyses requirements, proposes a plan and implements it in phases approved by the client. Modernisation is 5\u201310 times faster than with a traditional system integrator. No token resale, no lock-in to a specific model: each partner integrates the LLM of their choice. The system gradually reduces usage to almost zero over time, generating savings of up to 90%.    <\/p>\n\n<p class=\"wp-block-paragraph\">Fasteer never sells directly to end customers. It works with system integrators, cloud providers, software houses and consultancy firms that wish to develop new business at fixed costs, without being exposed to uncontrolled increases in token costs. The tool increases their delivery capacity for modernisation projects tenfold.   <\/p>\n\n<p class=\"wp-block-paragraph\">The first deals are at an advanced stage. The first anchor client, secured through our partnership with Add Value Group, comes from the banking sector \u2013 a sector where a closed environment, compliance and total operating costs are the three key purchasing criteria. <\/p>\n\n<p class=\"wp-block-paragraph\">\u201cThe software modernisation market is growing rapidly, and Italy has all the expertise needed to produce a European leader. Fasteer transforms legacy code cost-effectively, quickly and instantly, using a unique agent-based technology. With FRIO, we offer savings of up to 90% compared to LLM-only systems. There is currently no competitor that matches our comprehensive offering,\u201d says Andrea Cinelli, CEO of FoolFarm and creator of Fasteer (centre in the photo with the team).<\/p>\n\n<p class=\"wp-block-paragraph\">Fasteer will soon be presented to the venture capital world for its post-SAFE growth round \u2013 a Series A funding round intended to finance the product\u2019s international expansion, which already has a proven track record. Fasteer, say the founders, meets the three conditions necessary to be attractive to investors: a market that is taking shape right now, a technology with a tenfold cost advantage that is already measurable, and a shareholder base combining top-tier institutional, banking, industrial and family office investors. The competitive window will close within eighteen to twenty-four months. Whoever captures the market at this stage will defend it for the next decade.   <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company that has launched 12 start-ups now aims to tackle the problem of business software based on outdated 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programming"},"large":{"src":"https:\/\/www.startupbusiness.it\/wp-content\/uploads\/2026\/05\/WhatsApp-Image-2026-05-21-at-16.26.45.jpeg","width":1024,"height":768,"crop":false,"srcset":false,"alt":"artificial intelligence programming"},"2048x2048":{"src":"https:\/\/www.startupbusiness.it\/wp-content\/uploads\/2026\/05\/WhatsApp-Image-2026-05-21-at-16.26.45.jpeg","width":1600,"height":1200,"crop":false,"srcset":false,"alt":"artificial intelligence programming"}},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FoolFarm becomes Fasteer, evolving from a venture studio to an AI coding start-up<\/title>\n<meta name=\"description\" content=\"The company that has launched 12 start-ups now aims to tackle the problem of business software based on outdated code\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Co-fondatore di Designtech, l\u2019hub di innovazione che avvicina il mondo del design con quello della tecnologia. Advisor di Austrian Business Agency, Emil Banca, Fondazione Symbola, Fondazione Quadrans. Partecipa regolarmente a incontri, convegni, conferenze dedicate all\u2019ecosistema dell\u2019innovazione. E\u2019 stato co-organizzatore degli Italian Innovation Day and Series che si sono svolti dal dal 2016 al 2020 nelle citt\u00e0 di Tokyo in Giappone, Melbourne, Adelaide, Perth, Canberra in Australia e Singapore e co-organizzatore dell\u2019Italy India Innovation Day di AIICP 2021 e 2022. Ha curato il volume \u2018L\u2019innovazione che non ti aspetti. Contesti e visioni per l\u2019impresa\u2019 , l\u2019edizione italiana di \u2018La startup digitale, guida pratica step by step\u2019 e ha scritto la prefazione all\u2019edizione italiana de \u2018La quarta era\u2019 di Byron Reese, ed \u00e8 co-autore di \u2018Cosa e Dove: strategie digitali di ricerca del lavoro\u2019, tutti editi da FrancoAngeli. 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giornalista, fondatore e direttore di Startupbusiness, il primo magazine sull\u2019ecosistema startup e innovazione italiano. Co-fondatore di Designtech, l\u2019hub di innovazione che avvicina il mondo del design con quello della tecnologia. Advisor di Austrian Business Agency, Emil Banca, Fondazione Symbola, Fondazione Quadrans. Partecipa regolarmente a incontri, convegni, conferenze dedicate all\u2019ecosistema dell\u2019innovazione. E\u2019 stato co-organizzatore degli Italian Innovation Day and Series che si sono svolti dal dal 2016 al 2020 nelle citt\u00e0 di Tokyo in Giappone, Melbourne, Adelaide, Perth, Canberra in Australia e Singapore e co-organizzatore dell\u2019Italy India Innovation Day di AIICP 2021 e 2022. Ha curato il volume \u2018L\u2019innovazione che non ti aspetti. Contesti e visioni per l\u2019impresa\u2019 , l\u2019edizione italiana di \u2018La startup digitale, guida pratica step by step\u2019 e ha scritto la prefazione all\u2019edizione italiana de \u2018La quarta era\u2019 di Byron Reese, ed \u00e8 co-autore di \u2018Cosa e Dove: strategie digitali di ricerca del lavoro\u2019, tutti editi da FrancoAngeli. In passato \u00e8 stato curatore di StartupDigest Italy, coordinatore scientifico del Forum per la Ricerca della Provincia Autonoma di Trento, board member di TechChill Milano advisor di di ScaleIT , ha collaborato con Il Sole 24 Ore \u00e8 stato direttore di Innov\u2019azione, bimestrale edito da Apsti, ha collaborato con Corriere Innovazione ed \u00e8 stato presidente del comitato di selezione del Premio Marzotto e advisor di Cetif-Universit\u00e0 Cattolica Milano.","sameAs":["https:\/\/www.abirascid.com\/","https:\/\/www.linkedin.com\/in\/emilabirascid","https:\/\/x.com\/emilabirascid"],"url":"https:\/\/www.startupbusiness.it\/en\/author\/emil-abirascid\/"}]}},"author_name":"Emil Abirascid","categories_names":["Scaleup"],"_links":{"self":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/170828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/comments?post=170828"}],"version-history":[{"count":1,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/170828\/revisions"}],"predecessor-version":[{"id":170829,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/170828\/revisions\/170829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/media\/170827"}],"wp:attachment":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/media?parent=170828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/categories?post=170828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/tags?post=170828"},{"taxonomy":"companies","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/companies?post=170828"},{"taxonomy":"journalist","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/journalist?post=170828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}