Munich, Germany-based robotics company Magazino has closed a Series B financing round to the tune of €21 million led by intralogistics giant Jungheinrich and the European Investment Bank.

Founded in 2014, the company says the capital raised will be used to expand its international sales activities and to accelerate the expansion of ACROS.AI, its software platform for intelligent robots that can be used for third-party hardware.

“Jungheinrich’s investment in Magazino demonstrates the high market demand for our robotics software ACROS.AI and our robots. With it, Magazino will take on a central role in software in the rapidly growing market for mobile robotics,” said Frederik Brantner, co-founder and CEO of Magazino.

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