The robotics company Magazino has closed a Series B financing round of €21 million. Jungheinrich AG and the European Investment Bank (EIB) are leading the 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.
At the same time, Jungheinrich and Magazino agreed on a broad strategic cooperation and intend to combine their skill sets in the field of mobile automation.
In addition to the investments made by the existing shareholders and Jungheinrich AG, the European Investment Bank (EIB) is providing Magazino GmbH with financing of up to €12 million.