| Project Detail |
The project will finance the development and deployment of advanced digital technologies to further automate the fulfilment centres, improve customer experience and increase operational efficiencies, as well as support the promoters geographical expansion. The related activities will take place primarily in the promoters headquarters in Prague between 2024-2027.
Additionality and Impact
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 finances product and digital developments of a leading Technology-enabled retail e-grocery platform in Czechia, Germany and Central Europe.
It supports investments in Digital technologies aligned with EU policy objectives (Digital Europe Programme, Europes Digital Decade: digital targets for 2030) and strengthening the competitiveness of the sector for the benefit of citizens and businesses across the Union, while contributing to the Banks Policy objective "Innovation, Digital and Human Capital". The activities are expected to facilitate the accumulation and diffusion of knowledge within the European industry.
This operation addresses the sub-optimal investment situations associated with imperfect competition and incomplete markets, by contributing to increase the level of competition and enable the development, adoption and scaling-up of highly automated grocery fulfillment technologies in the EU.
It supports both the relevant RDI and market expansion to scale-up. In doing so, it targets significant positive knowledge externalities. The InvestEU quasi-equity financing addresses the market failure of availability of non-dilutive growth capital for fast growing innovative SMEs and MidCaps, allowing the company to continue investing in R&D, creating skilled R&D jobs in the EU and support its growth.
The envisaged EIB financing provides the Promoter with a funding solution tailored to its needs and growth plans. It also provides a strong signaling effect on the quality of the project, facilitating other financiers.
The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Objectives
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, scale-up and accelerate geographic expansion into new locations.
Sector(s)
Services - Information and communication
Proposed EIB finance (Approximate amount)
EUR 90 million
Total cost (Approximate amount)
EUR 196 million |
