Search En menu en ClientConnect

Signature(s)

Amount
€ 15,000,000
Countries
Sector(s)
Germany : € 15,000,000
Services : € 15,000,000
Signature date(s)
20/12/2021 : € 15,000,000
Link to source

Summary sheet

Release date
20 January 2022
Status
Reference
Signed | 20/12/2021
20210351
Project name
Promoter - financial intermediary
AUTOMATION HERO (EGF VD)
AUTOMATION HERO GMBH
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 15 million
EUR 49 million
Location
Sector(s)
Description
Objectives

Automation Hero is a software company which develops and distributes an Intelligent Process Automation ("IPA") platform that includes proprietary Artificial Intelligence (AI) to allow customers, predominantly in the financial services sector, to automate their business processes.

The proposed EIB venture debt financing will help the Promoter develop further software modules and functionalities for its Intelligence Process Automation platform including through the further use of artificial intelligence technologies already in use by the company. The EIB financing would also aim to support the Promoter's growth strategy.

Additionality and Impact

Automation Hero has developed an Intelligent Process Automation solution that enables organisations to reduce human errors, redeploy employees to more fulfilling tasks, and to improve their overall efficiency.

The project supports the policy objective of innovation and digitalisation by supporting an innovative start-up that is leveraging Artificial Intelligence and Deep Learning to "augment" human capabilities. The project generates significant positive RDI externalities through the application of the technology in various industries and through knowledge spill-overs to clients and business partners in the area of Robotic Process Automation and Artificial Intelligence.

The project is therefore strengthening the EU's market position in the context of automation and digitalisation and enhancing the competition in this field. EIB provides the SME with tailored venture debt financing, enabling the company's sustainable growth and technological edge despite the challenges resulting from COVID-19. Without the EIB financing, Automation Hero will not be able to scale up so rapidly and its investor base will likely be more diluted.

Environmental aspects
Procurement

The project activities do not fall under the annexes of the EIA Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory environmental impact assessments (EIA). The activities included in the scope of the project will be performed in existing buildings and are not expected to have any relevant environmental impact.

The project Promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.

Link to source
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - AUTOMATION HERO (EGF VD)
Publication Date
3 Feb 2022
Document language
Main Topic
Lending
Document Number
141232508
Document Focus
Environmental Information
Project Number
20210351
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications