Bending Spoons, whose apps include popular video editing tool Splice and Remini, an image editor based on artificial intelligence technology, said the money could be used for acquisitions.
The former Google Executive Chairman and CEO Eric Schmidt was among the investors, according to a source close to the company.
The Milan-based start-up said that other investors included Italian banks Intesa Sanpaolo and Banco BPM.
Since launching in 2013, Bending Spoons has received more than 500 million downloads and 90 million monthly active users, according to its website.
In 2020, it developed the Immuni app, which was used to track COVID 19 infections in Italy.