Starship Technologies receives €50 million financing partnership from the European Investment Bank – Geospatial World
spacecraft technologiesthe world’s leading provider of autonomous delivery services, today announced that the company has entered into a 50 million euro quasi-equity agreement with the European Investment Bank (EIB).
Lending arm of the European Union (EU) and one of the main climate financiers, the EIB supports projects that promote EU priorities and objectives. This funding, supported by the European Fund for Strategic Investments, was facilitated by a subprime loan, and will be used for research and development, including the construction of thousands more robots at Starship’s engineering and innovation facilities in Tallinn.
Alastair Westgarth, CEO of Starship Technologies, said: “We are proud of our European roots as well as the growing team that remains a vital part of our operations. As the leader in the autonomous delivery market, we are againstconstantly striving to innovate and find new ways to improve our service. This support from the EIB will allow us to continue to reshape last-mile delivery and bring the benefits of on-demand delivery and convenience to millions more people. The additional engineering resources we will commit in Europe will be another key element in making this possible.
“Electric vehicles of all shapes and sizes will be part of our future and can be a key part of the sustainable transport puzzle,” said EIB Vice-President Thomas Östros. “Starship’s delivery robots are already proven, and we are happy to support the company so that it can continue to develop its technology and increase its production.”
Economy Commissioner Paolo Gentiloni said: “This EIB funding for Starship is a great example of how the Investment Plan for Europe can boost innovation in Europe. The additional funding will benefit the development of the company’s self-driving delivery services, further improving consumer services and contributing to Europe’s growing and vibrant research, technology and innovation ecosystem.
Starship already offers its services in many parts of the EU, UK and US in cities, college campuses and industrial campuses, with further expansion planned for the near future.. Starship is capable of making L4 deliveries wherever it operates – entire cities and campuses. The robots have been operating at L4 since 2018. On a daily basis, Starship robots will make many deliveries in a row 100% autonomously, including road crossings. This is why the cost of a Starship delivery is now lower than the human equivalent, which is considered a world first for any robot delivery company, while most others are still predominantly human-controlled and in pilot mode.
Starship Technologies operates daily around the world. Its zero-emission robots make more than 100,000 road crossings every day and have made more than 2.5 million commercial deliveries and traveled 5 million km (3 million miles) worldwide, more than any other autonomous delivery provider. .
The Starship Food Delivery app is available for download at iOS and android. To get started, customers choose from a range of their favorite food or drink, then drop a pin to where they want their delivery sent. The user can then observe the path of the robot towards him, via an interactive map. Once the robot arrives, the customer receives an alert, and can then meet the robot and unlock it via the application.