07/22/2021 | Press release | Archived content
Global law firm Norton Rose Fulbright has advised the European Investment Bank (EIB) on its participation in a Series B financing round for German robotics company Magazino GmbH.
Magazino develops and builds intelligent, mobile robots that perceive their environment and make their own decisions. These autonomous robots work alongside people and make processes in e commerce, fashion and production logistics more flexible and efficient than ever before. With over 100 employees in Munich, Magazino has the largest advanced robotics team in Europe. The financing supports the further development of the robots' behavioral intelligence and their application in new domains. Industrial and e-commerce clients of the company will benefit from higher productivity, advanced safety, increased flexibility and better operational business resilience, e.g. during times of high demand fluctuation. Magazino's investors include Körber AG, Zalando and Fiege Logistik.
Jungheinrich AG and the European Investment Bank (EIB) are leading the latest financing round, with existing investors also participating. The capital raised will be used to expand international sales activities and to accelerate the expansion of the 'ACROS.AI' software stack - a software platform for intelligent robots developed by Magazino that is also used on third-party hardware.
The loan from the EIB is secured by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is at the heart of the Investment Plan for Europe, under which the EIB and the European Commission work together as strategic partners to channel private capital into projects that strengthen the sustainability and competitiveness of the European economy.
The Norton Rose Fulbright team was led by partners Dr Marco Niehaus (corporate/M&A, Frankfurt) and Timo Noftz (banking, Hamburg). Additional support was provided by partner Dr Philipp Grzimek (corporate/M&A Munich), senior associates Dr Michael Alexander Volks (banking, Hamburg), Jan-Peter Heise (Frankfurt) and Rima Dressler (Munich) as well as associate Dr Ariane Theissen (Frankfurt, all corporate/M&A).
Cornelia Zeitler, PR & Communications Executive Germany
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