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Signature(s)

Amount
€ 25,000,000
Countries
Sector(s)
Germany : € 25,000,000
Services : € 25,000,000
Signature date(s)
20/12/2024 : € 25,000,000
Link to source
Data sheet

Summary sheet

Release date
18 September 2024
Status
Reference
Signed | 20/12/2024
20240117
Project name
Promoter - financial intermediary
SIMSCALE (IEU FT)
SIMSCALE GMBH
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 25 million
EUR 66 million
Location
Sector(s)
Description
Objectives

SimScale is a Germany-based start-up developing a cloud-based engineering simulation platform for engineers, designers and architects. The EIB financing will finance the company's research and development activities to enhance the simulation platform and support its business expansion.

The aim is to support the development of additional features of the promoter's simulation software suite, its deployment in the cloud infrastructure, the strengthening of customer service and sales functions as well as the overall expansion of the business.

Additionality and Impact

The project is line with the Annex II of the InvestEU Regulation, namely advanced digital skills, artificial intelligence and other digital skills in the context of the promoter's engineering simulation software platform. 

 

The investments targeted by the financing will address market failures related to: i) Information asymmetries due to higher risk levels associated to early stage firms, with mainly intangible assets or insufficient collateral, and focusing on higher risk activities; ii) suboptimal investment which require the development of innovative financial solutions and iii) an incomplete market in terms of competition, with a few large-scale players dominating the market.

 

The project will further support the promoter's software development activities to enhance the simulation software offering, broaden functionalities, expand the promoter's R&D capabilities and help the company to expand its business. The project is expected to create positive knowledge externalities, advanced digital skills and contribute to the development of deep-tech products in the EU.

 

The EIB's participation is expected to have a positive signalling effect, crowding in additional financiers for the company, including equity investors. The project would not have been carried out (to the same extent) without the support of InvestEU.

Environmental aspects
Procurement

The project activities do not fall under Annexes I and II of the environmental impact assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory EIA. The activities included in the scope are not expected to have any relevant environmental impact. Such assumptions and any other relevant environmental aspect will be further assessed during the project appraisal.

The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

Milestone
Under appraisal
Approved
Signed
10 October 2024
20 December 2024
Related projects
Link to source
Summary sheet
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - SIMSCALE (IEU FT)
Publication Date
16 Oct 2024
Document language
Main Topic
Lending
Document Number
210725920
Document Focus
Environmental Information
Project Number
20240117
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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