EBRD leads US$ 12 million fundraising round for robotic solutions company Brightpick

• EBRD invests in growth of Slovak robotic solutions provider, contributing to advancement of robotics solutions in central Europe and beyond
• First venture debt investment in Slovak Republic, supporting Brightpick's expansion
• Investment is part of Bank's Venture Capital Investment Programme, which supports early and growth-stage technology companies

The European Bank for Reconstruction and Development (EBRD) is supporting the growth of Brightpick, a leading provider of robotic vision and intelligence solutions, leading a US$ 12 million equity and venture debt fundraising round.

Existing investors Pavel Baudiš and Eduard Kučera (founders of Avast), Miroslav Trnka (founder of ESET) and Juraj Duriš (founder of Finviz) are also participating in the round alongside the EBRD.

The EBRD's investment will support Brightpick's research and development activities, as well as sales and rollout efforts across the United States of America.

Based in the Slovak Republic, Brightpick specialises in autonomous mobile robots, which are designed to optimise warehouse operations and enhance the accuracy of order fulfilment. Its solutions significantly increase storage density, optimise labour requirements and can be rapidly deployed in warehouses.

The EBRD's participation is part of its Venture Capital Investment Programme, which supports early and growth-stage technology companies via equity and equity-linked instruments. The programme's overarching objectives are to develop and commercialise innovative technology and attract top venture capital funds to the EBRD regions, where the availability of venture capital is limited.

Jan Zizka, CEO and co-founder of Brightpick, said: "Since launching Brightpick Autopicker early last year, we've experienced tremendous interest from new customers. Our unique technology offers greater cost savings than any other solution, which resonates strongly with customers. Our focus has always been on scaling in the United States, where we are now seeing the most traction."

Bruno Lusic, Associate Director at EBRD Venture Capital, said: "We are excited to support Brightpick as they continue to revolutionise warehouse automation with their innovative technology. Their ability to deliver unmatched efficiency and cost savings to customers positions them as a leader in the market, and we are confident that their rapid growth in the United States will further strengthen their leading position."

The EBRD puts a digital focus at the heart of its activities - investment, policy engagement and advisory services - across the Bank's regions and seeks to play a leading role in shaping the impact of digitalisation.

Since the start of its operations in the Slovak Republic, the EBRD has invested more than €3 billion in 161 projects in the country.