The EIB will provide Kontakt.io with 12 million Euro to increase investment in advanced AI technologies

The European Investment Bank (EIB) has signed an agreement with Kontakt Micro-Location (Kontakt.io) to provide the company with € 12m in funding to increase investment in advanced artificial intelligence technologies, the EIB said.

Kontakt.io is a building space assessment and modernization company, developing transformative digital construction services that help secure space and equipment, and support productivity and safety. Kontakt.io solutions allow you to manage space in a smarter, safer and more efficient way, using the Internet of Things and AI technologies in the cloud, it said.

“Financing projects that increase the level of digitization is one of the EIB's top priorities. We are glad that we can support an ambitious European player who implements pioneering solutions in the field of space management. Kontakt.io is one of the companies that shape the future. The EIB investment will strengthen their competitiveness and market reach, ensuring wider social benefits, ”said EIB Vice-President Teresa Czerwińska, quoted in the press release.

Kontakt.io CEO Pilipp von Gilsa pointed out that breaking away from the aging first-generation internal location technologies and relying on cloud solutions, open standard IoT technologies, has allowed Kontakt.io to become the fastest growing cloud company in the internal analytics market spatial.

Financing projects related to innovation, digitization and the development of human capital is a priority for the EIB Group, which in 2021 invested EUR 20.7 billion for this purpose. In Poland, this support increased to EUR 1.5 billion (compared to EUR 1.2 billion in 2020), it was also stated in the release.

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by the Member States. The EIB provides long-term financial support for well-prepared investments, thus contributing to the achievement of EU policy objectives.

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