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The project pertains to the development and deployment of a standalone end-to-end fulfilment solution specifically designed for online grocery.
The aim is to support research, development and innovation (RDI) investments and other growth-enabling activities aiming to further automate the fulfilment and logistics processes.
The operation is in line with the InvestEU objectives of research development and innovation. Specifically, the eligible area as per Annex II of the InvestEU Regulation is: The development, deployment and scaling-up of digital technologies and services in particular through: artificial intelligence and robotics and automatisation.
The Project contributes to the Innovation, Digital and Human Capital (IDHC) Public Policy Goal, Competitive Industries - RDI objective and to the EIB's core strategic priority "Digitalisation and Technological Innovation" (TechEU). The financing of this Project supports the development and deployment of innovative activities, which generate positive knowledge and technology externalities through the creation of innovative processes, products or services, and through skills development and upgrading.
It addresses the market failure of imperfect competition, as it contributes to expanding the competitive space for new product technologies and helps mitigate the competitive disadvantage of companies with outdated digital technologies, which require transformation. In addition, the Project will promote the diffusion of knowledge through collaboration with the fulfilment and logistics automation ecosystem, foster internal innovation initiatives and support the creation of innovative businesses.
The Company is a scale-up with significant growth-related financing needs. The EIB's venture debt would support this growth through a flexible, covenant-light structure with long maturity, while diversifying funding sources of the Company. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
The related activities will be performed in existing buildings with no relevant environmental impacts expected. The project does not fall under the environmental impact assessment (EIA) Directive 2014/52/EU (amending EIA Directive 2011/92/EU) therefore no EIA is required.
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.