- EIB provides €30 million in venture debt to Czech software producer Y Soft.
- Financing is for development and deployment of company’s advanced cloud-based office solutions and automation tools.
- Support backed by InvestEU programme
The European Investment Bank (EIB) is offering Y Soft Corporation, a multinational software and electronic hardware company based in the Czech Republic, financing of €30 million (757 million Czech korunas) to advance a range of office-management technologies including robotics and sensors.
The EIB support takes the form of venture debt for Y Soft to accelerate the development and deployment of cloud-based office solutions (SAFEQ) and a family of automation tools (AIVA) that features robotics, cameras, sensors, and software working in tandem. This type of financing combines debt and equity, offering flexibility to recipients and sharing risks and rewards between investors and companies.
The financing will support Y Soft’s research and development activities primarily in the Czech city of Brno over the next three years. The EIB support, which represents half the company’s project cost of €60 million, is made possible through the InvestEU programme to mobilise additional investment for European policy priorities over the 2021-2027 period.