Y Soft secures €30 million EIB support for research advances
November 8, 2024
The European Investment Bank (EIB) is offering Y Soft Corporation financing of €30 million ($32 million) 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 feature 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 ($64 million), is made possible through the InvestEU programme to mobilise additional investment for European policy priorities over the 2021-2027 period.
“We are proud to support Y Soft in their pioneering work to advance digital and automation technologies,” said EIB Vice-President Kyriacos Kakouris.
“This financing not only reinforces our commitment to fostering innovation and economic resilience within the EU but also promotes regional growth in the Czech Republic. Y Soft’s project exemplifies how cutting-edge solutions can drive both productivity and sustainability, aligning with our mission to accelerate Europe’s digital transformation and support dynamic enterprises with global reach.”
Founded in 2000 in Brno, Y Soft develops enterprise software for print and scan management both on-premises and in the cloud. The company’s products are used in over 190 countries around the world and help businesses remove print servers, enhance security, and automate document-related workflows in the cloud.
“Y Soft’s collaboration with the European Investment Bank (EIB) underlines the Group’s long-term dedication and commitment to providing world-class Digital Automation and Cloud Office Solutions on a global scale. EIB funding complements the Group’s substantial internal investments, leveraging and bolstering its ambitious growth strategy and accelerating and expediting its execution timeline.
“The EIB partnership further reinforces Y Soft’s commitment to creating, maintaining and enhancing economic value within the Czech Republic and the European Union while solidifying its status as a global market leader,” said Y Soft Group CFO & Vice Chairman John Collins.
The AIVA suite is a comprehensive set of tools designed to automate testing tasks and enable continuous integration in the hardware world. The robotics, cameras, sensors, and software work together seamlessly to automate quality control, testing, and configuration. The suite is expected to revolutionize business practices by reducing manual intervention and increasing operational accuracy.
The EIB support aligns with the European Union’s goals of fostering innovation, digital transformation, and economic cohesion. By supporting companies such as Y Soft, the EIB and InvestEU are helping drive technological advancements that are crucial for the EU’s competitive edge in the global market. The funding not only supports the development of cutting-edge technologies but also contributes to the broader objectives of sustainable growth and job creation in the EU.
The InvestEU backing for the Y Soft financing falls under the “Future Technologies” main policy priority area (Future Tech), supporting deep-tech investments and future technologies in the EU. The EU support for Y Soft is expected to have a signalling and crowding-in effect on other equity and debt providers.
Categories : City News
Tags : EIB Investment Research YSoft
