News Summary

Nomagic, a Polish startup specializing in AI-powered robotic arms for logistics operations, has successfully raised $44 million in a Series B funding round. The investment aims to expand Nomagic’s technology and business development efforts, particularly in North America. Leading the funding round is the European Bank for Reconstruction and Development (EBRD), with participation from Khosla Ventures and Almaz Capital. The European Investment Bank (EIB) is also involved, providing venture debt. Nomagic’s growth strategy focuses on enhancing its software capabilities, leveraging computer vision and machine learning to optimize logistics tasks. With a significant increase in annual recurring revenues, Nomagic plans to continue its expansion into e-commerce and pharmaceuticals sectors. This funding round is the largest for Nomagic to date and reflects the growing importance of robotics in industrial settings, with governments and large companies investing in new manufacturing and logistics technologies.