Investment Plan backs innovative robotics company in Germany with €12 million
The European Investment Bank, backed by the European Fund for Strategic Investments (EFSI) is providing financing of €12 million to the German company Magazino to advance its development of intelligent robots and therefore assist the safe, efficient and flexible organisation of warehouses and production lines. More specifically, the funding will go towards increasing the company’s R&D and international sales activities. Automation is one of the largest drivers for growth in the intra-logistics sector and is crucial for Europe’s industrial competitiveness. Commissioner for the Economy, Paolo Gentiloni, said: “The European Commission is committed to helping our SMEs to grow and invest in innovation. That’s exactly what we are doing through the EFSI guarantee for Magazino. With their cutting-edge intelligent robots for warehouse logistics, Magazino is a true protagonist of the digital transition that offers such immense opportunities.” The press release is available here. So far, the Investment Plan for Europe has mobilised €535 billion of investment across the EU, with €38 billion in Germany.