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EIB Invests €8 Million in Nomagic for Robotic R&D, Advancing Warehouse Automation in Poland

2024-04-12 00:00:00

Poland's Nomagic, a forward-thinking robotics firm specializing in crafting intelligent automation solutions for e-commerce and retail distribution centers, has secured an €8 million loan from the European Investment Bank (EIB). This investment, facilitated by the European Commission's InvestEU program within the Future Technologies framework, aims to propel Nomagic's research and development efforts, enhance its competitive edge, and diversify its product offerings.

EIB Vice-President Teresa Czerwińska expressed enthusiasm for the bank's commitment to Nomagic through the InvestEU program, emphasizing the initiative's role in bolstering automation advancements in the warehousing industry. This strategic investment is set to extend Nomagic's operational capabilities and strengthen its presence in the market, marking a significant milestone in its development journey.

In response to the burgeoning demand for automation in the rapidly expanding e-commerce and logistics sectors, Nomagic has introduced a groundbreaking artificial intelligence-based solution tailored for standard robotic arms. Dubbed Nomagic React.AI, this innovation enables robots to proficiently manage a wide variety of items without the need for item-specific programming. Nomagic's technology is particularly adept at automating repetitive picking tasks, allowing warehouse staff to focus on more strategic and varied activities.

Marek Cygan, co-founder and chief AI officer of Nomagic, highlighted the company's commitment to building a top-tier, efficient AI team dedicated to maximizing customer value through innovative platform features. The deployment of Nomagic React.AI to production robots, enabled by the new funding, is a testament to the company's advanced AI capabilities.

Nomagic aims to leverage this investment to broaden its reach into new industries and enhance partnerships with system integrators, distinguishing itself as a unique European player in a field largely dominated by U.S. companies. The EIB's financial backing is crucial for supporting Nomagic's ongoing R&D endeavors, enabling the firm to not only expand its industry footprint but also to further refine Nomagic React.AI, thereby cementing its market position and advancing the evolution of warehouse automation across Europe.

Reflecting on the period up to 2023, the EIB Group's €4.3 billion investment in Poland underscores its commitment to nurturing innovative technologies and human capital development, highlighting the pivotal role of advanced automation solutions in shaping the future of warehousing and logistics.

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