NOMAGIC II (IEU TI)

Promoter – Financial Intermediary

NOMAGIC INC

Location

• Poland

Description

The project mainly aims to support Nomagic's research, innovation and development (RDI) activities over the period 2023-2025.

Additionality and Impact

Nomagic is a Polish robotics company specialised in pick & place robots primarily used in warehouses. The company offers an artificial intelligence enabled robotic arm that picks, inspects, analyses and places products.

The project supports the policy objective of innovation and digitalisation by supporting an innovative start-up offering autonomous robots for the use in warehouses. The project generates significant positive RDI externalities through the application of the technology in various industries and through knowledge spill-overs to clients and business partners in the area of robotics and artificial intelligence.

The project is therefore strengthening the EU's market position in the context of automation and digitalisation and enhancing the competition in this field. EIB provides the SME with tailored venture debt financing, enabling the company to continue its growth. Without the EIB financing, Nomagic would not be able to scale up so rapidly.

Objectives

Nomagic is a Polish robotics company specialised in 'pick & place' robots, primarily used in warehouses. In particular, the company offers an artificial intelligence enabled robotic arm that picks, inspects, analyses and places products. The aim is to finance the further automation of retail fulfilment through the development of robotic solutions for warehouses.

Sector(s)

• Services - Information and communication

Proposed EIB finance (Approximate amount)

EUR 8 million

Total cost (Approximate amount)

EUR 19 million

Environmental aspects

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.

Procurement

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.

Status

Signed - 22/12/2023