NAVYA, an autonomous mobility systems leader, announced the signing of a funding agreement with the Negma Group for a total nominal amount of €36 million.
Under the agreement, the financing will be in the form of convertible bonds with an attached warrant allowing Negma to buy shares of the startup’s capital stock. Each share will have a nominal value of €2,500 and a 12-month maturity.
With its finances on a solid footing thanks to the funding agreement, Navya will be in a position to support its development cycle in the medium term and facilitate progress on its technological and commercial projects. As a leading investment group with the aim of promoting growth and value creation, Negma will not only provide Navya with flexible financing solutions to ensure its large-scale industrialization. They will also enable it to dynamize its strategic and operational performance across its value chain.
Elaf Gassam, chairman of the Negma Group, and Francois Houssin, managing partner of the Negma Group, says, “Negma’s involvement in this exciting business project bears witness to our willingness to support the profitable growth of a future world mobility leader, capable of rolling out new forms of technology to meet the challenges of the ecological transition and the fluidity problems of the cities and private spaces of tomorrow on a global scale.”
Founded in 2014, Navya specialised in the supply of autonomous mobility systems and associated services. The French company aims to become a leading player in Level 4 autonomous mobility systems for passenger and goods transport.
Navya’s Autonom Shuttle, the main development axis, is dedicated to passenger transport.
Since its launch, more than 200 units have been sold in 25 countries as of 31 December 2021. On the other side, the Autonom Tract is designed for goods transport.
Sophie Desormière, CEO of Navya says, “This funding operation is a logical step on our strategic roadmap toward growth. Our partnership with the Negma Group will enable us to speed up the development of Navya and boost our capacity in the markets where demand is high. This first investment plan means that Navya will be able to implement its technological roadmap with confidence and will be in a position to deploy locally at scale in strategic regions like the Middle East. With its innovative and flexible funding solutions, the Negma Group is a strategic investor that provides the opportunity for high-potential companies like Navya to scale up their activities. Along with the Supervisory Board, we are delighted to be able to count on such support for our growth and for building sustainable autonomous mobility, both of which will contribute to our success.”
