(CercleFinance.com) – Navya announced on Monday that it had secured €30 million in funding from Bahrain-based investment firm Eshaq Investment.
This loan agreement, governed by French law, was entered into for a period of 10 years based on an annual interest rate of 3%.
This 30 million euro loan comes on top of the 36 million euro financing concluded in July with Negma Group, an investment company based in Dubai (United Arab Emirates) in the form of OCABSA.
Interest is paid annually from the second year of the loan and the principal must be repaid with a penalty. No penalty shall be paid in the event of early repayment.
As a guarantee of its repayment, Navya has given a software pledge under French law regarding the source code it holds in favor of Eshaq Investment, a pledge to be registered with INPI.
In a press release, the specialist in the delivery of autonomous mobility systems states that this financing enables it to secure its cash flow and continue technological, industrial and commercial development.
Following this announcement, Navya shares listed on Euronext Paris surged more than 36% after rising up to 66% in the very first exchanges this morning.
Eshaq Investment commits approximately $2 billion of capital annually to private investments, including venture capital, growth capital and small buyouts.
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