Berlin/ Munich — The robo­tics company Maga­zino has closed a Series B finan­cing round of 21 million euros. Jung­hein­rich AG and the Euro­pean Invest­ment Bank (EIB) lead the round, and exis­ting inves­tors also parti­ci­pa­ted. The capi­tal raised will be used to expand inter­na­tio­nal sales acti­vi­ties and, above all, to expand the “ACROS.AI” soft­ware stack — a soft­ware plat­form for intel­li­gent robots deve­lo­ped by Maga­zino, which is also used on third-party hard­ware. Once again, Maga­zino recei­ved compre­hen­sive legal advice on both equity and debt finan­cing from a team led by SMP

In addi­tion to the invest­ments made by the exis­ting share­hol­ders and Jung­hein­rich AG, the Euro­pean Invest­ment Bank (EIB) is provi­ding Maga­zino GmbH with venture debt finan­cing of up to 12 million euros. The EU Bank loan is backed by a guaran­tee from the Euro­pean Fund for Stra­te­gic Invest­ments (EFSI). The EFSI is the center­piece 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. In many of these finan­cings, EIB invol­vement has an important signal­ing effect to private inves­tors, whose risk is often signi­fi­cantly redu­ced by the EU bank’s compre­hen­sive analy­sis and input.

Accor­ding to Maga­zino, the capi­tal raised will be used both to expand inter­na­tio­nal sales and to opti­mize the company’s proprie­tary soft­ware plat­form for intel­li­gent robots.

About Maga­zino
Maga­zino GmbH deve­lops and builds intel­li­gent, mobile robots that perceive their envi­ron­ment and make decis­i­ons them­sel­ves. The auto­no­mous robots work in paral­lel with humans and make proces­ses in the areas of e‑commerce, fashion and produc­tion logi­stics more flexi­ble and effi­ci­ent. With over 100 employees at the Munich site, Maga­zino provi­des the largest advan­ced robo­tics team in Europe. Magazino’s inves­tors include Körber AG, Zalando and Fiege Logistik.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners have been reco­gni­zed natio­nally and inter­na­tio­nally by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Consul­tant Maga­zino: SMP
Dr. Benja­min Ullrich (Lead Part­ner, Tran­sac­tions), Partner
Dr. Adrian Haase (Tran­sac­tions), Senior Associate
Chris­tiane Schnitz­ler (Tran­sac­tions), Associate
Matthias Kres­ser (Tran­sac­tions), Senior Associate