ALTEIA (EGF VD)

Alteia has developed an AI-driven platform, offering a comprehensive suite of tools to enable digital transformation in enterprise asset management.

The project will finance investments in research, development and innovation (RDI) activities, including through the use of artificial intelligence (AI), to further develop the visual intelligence platform and support the growth of the company.

The promoter is an innovative start-up that has developed a proprietary Visual Intelligence Platform for physical asset modelling and management, addressing the business requirements notably found in Infrastructure and Utilities, Mines and Aggregates, Agriculture and Forestry.This operation is under the EGF Venture Debt programme loan, a product guaranteed under the Pan-European Guarantee Fund, designed to assist companies affected by Covid-19.

The project creates positive knowledge spillovers strengthening the innovation capability and competitiveness of the EU in the field of Artificial Intelligence applied to industrial use cases.The venture debt financing provided by the EIB enables the Company to keep on investing in RDI and building scale despite the challenges resulting from the COVID-19 pandemic. Without this financing, Alteia may not be able to scale up so rapidly, and its investor base will likely be more diluted.

The EIB contributing is excellent mainly thanks to the tailored financing structure and terms offered to the Borrower as well as the expected positive crowding-in effect that should result from it.

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.