The goal of the funding is to support Bolt’s product development and research in areas where the use of technology can improve the safety, reliability and sustainability of its services while maintaining the high efficiency of the company’s operations. This includes investments in existing services like ride-hailing as well as personalised mobility services like food delivery.
The EIB’s Vice President Alexander Stubb commented: “Bolt is a good example of European excellence in tech and innovation. As they say, to stand still is to go backwards, and Bolt is never standing still. The Bank is very happy to support the company in improving its services, as well as allowing it to branch out into new service fields. In other words, we’re fully on board!”
Paolo Gentiloni, European Commissioner for the Economy, said: “Estonia is at the forefront of digital transformation in Europe. I am proud that Europe, through the Investment Plan, supports Estonian platform Bolt’s research and development strategy to create innovative and safe services that will enhance urban mobility.”
Bolt’s co-founder, Martin Villig, said: “Mobility is one of the areas where Europe will really benefit from a local champion who shares the values of European consumers and regulators. Therefore, we are thrilled to have the European Investment Bank join the ranks of Bolt’s backers as this will enable us to move faster towards serving many more people in Europe.”
Bolt is the leading European transportation platform that’s focused on making urban travel easier, quicker and more reliable. The company’s services range from ride-hailing to micromobility and food delivery. Founded by Markus Villig, Bolt launched in 2013 and currently has 30 million users in 35 countries globally
The EIB has signed a $350 million loan agreement to support the financing of Europe’s first home-grown gigafactory for lithium-ion battery cells, Northvolt Ett, in Sweden. The financing is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. In 2018, the EIB also supported the establishment of the demonstration line Northvolt Labs, which produced its first battery cells in late 2019, and which paved the way for Europe’s first home-grown gigafactory.
The EIB and the Instituto de Crédito Oficial (ICO) will provide €50 million to finance the innovation strategy of Dominion, a Spanish business group that develops integrated multi-technical engineering, installation, operation and maintenance solutions. The agreement, under which each entity will advance €25 million, will contribute to achieving the objectives of the Digital Agenda for Europe through investments in digitalisation in Spain, Germany and Denmark.
This has been one of the Italian government’s top priorities for at least three years. The government has decidedly sped up the process following the restrictions caused by the COVID-19 pandemic, and this has now become a key pillar to aid the country’s recovery. Digitalisation of public administrations (PAs) and their relations with the country’s citizens and businesses have become the focus of the digital innovation measures contained in the “Simplifications” Decree Law approved by the Prime Minister's Office on 7 July. It is against this backdrop that the four-year investment plan of publicly-owned company PagoPA S.p.A. is receiving strong backing from the European Union’s bank.