French robotics software startup Balyo has signed a seven-year commercial agreement with Amazon on robotic solutions.
Balyo says the deal is a “decisive step” in its development, and supports the added value of its robotic solutions and will potentially boost their deployment.
Under the agreement, Amazon would obtain the right to subscribe up to 29 per cent of Balyo’s capital depending on the level of potential future orders by Amazon up to €300 million.
Balyo’s industrial partners and major financial shareholders support this transaction.
Balyo says it is a “technological leader” in the design and development of innovative robotic solutions for material handling trucks, announces it has signed an agreement with Amazon.
Fabien Bardinet, chairman and CEO, stated: “We are very proud to have signed this agreement. It represents an unprecedented opportunity for Balyo to grow its business and supports the soundness of our investments over the years to perfect our robotic solutions.”
Pursuant to the agreement signed today, Amazon will receive free stock warrants which will vest based on Amazon’s purchase of Balyo-enabled products.
The full number of stock warrants, representing up to 29 per cent of Balyo’s share capital and voting rights (before dilution of existing securities giving access to share capital as of 31 December 2018), would become exercisable according to Amazon’s decision if Amazon orders up to €300 million of Balyo-enabled products.
Balyo’s 2018 revenue landing expected to be around €23.3 million, growing more that 40 per cent from 2017.