The European Investment Bank (EIB) has concluded a €50 million quasi-equity facility agreement with Starship Technologies, a provider of autonomous delivery services. This financing, which is supported by theEuropean Fund for Strategic Investments(EFSI), has been facilitated via a venture loan, and will be used for research and development, including the building of thousands more robots at Starship’s engineering and innovation facility in Tallinn, Estonia. Commissioner for Economy, Paolo Gentiloni, said: “This EIB funding for Starship is a great example of how the Investment Plan for Europe can boost innovation in Europe. The additional funding will benefit the development of the company’s autonomous delivery services, thereby further improving services for consumers and contributing to Europe’s ever-growing and vibrant research, technology and innovation ecosystem.” The Investment Plan for Europe has so far mobilised €546.5 billion of investment, benefitting over 1.4 million SMEs. A press release is available online.
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