KALRAY SECURES UP TO EUR 15M IN NON-DILUTIVE BANK FINANCING TO SUPPORT GROWTH

17 Jun 2024 17:50 CEST

Grenoble, 17 June 2024 - Kalray (Euronext Growth Paris: ALKAL), a leading provider of hardware and software solutions to accelerate data-intensive and AI workflows from Cloud to Edge, is pleased to announce the establishment of a scalable debt solution ("Dynamic Revolving Credit Facility") with BNP Paribas, Kalray's historical banking partner since 2008. Amounting to up to €15m over a period of 3 years, this financing will support the continuous growth of its activities, particularly its expanding prospects in AI and Generative AI (GenAI), thanks to the merger project with Pliops[1].

This loan, mentioned in the press release dated June 3, 2024, confirms Kalray's ability to use non-dilutive financing to support its development and growth.

With a maximum amount of €15m over 3 years, this loan will be regularly adjusted based on the operational and financial performance of the company, and benefits from insights generated by a proprietary data analytics platform.

BNP Paribas Growth Solutions offers both non-dilutive and venture debt funding to innovative companies across Europe.

"I would like to thank BNP Paribas, our historical banking partner, for their renewed support in continuing to support high-growth companies like Kalray," said Eric Baissus, Chairman of the Executive Board of Kalray.

Christopher KRAMME, Head of Growth Solutions at BNP Paribas, who structured the debt investment, said: “We are excited about KALRAY's advanced technology and growing commercial traction, and are pleased to be able to accompany that growth in the coming years.”

“This financing tool, quite new in Europe, is a complementary means to accompany fast-growing innovative companies in their journey, beyond equity”, said Pierre LAFORGE, Senior Banker specialised in innovative companies. “Thanks to a high level of flexibility & scalability, this financing will be a growth accelerator over time & highlights the key role of BNP Paribas for innovation across Europe and beyond”.

ABOUT KALRAY

Kalray is a technology innovator specializing in software and hardware solutions to accelerate data-intensive workflows in Media & Entertainment, High-Performance Computing, and Artificial Intelligence. Our comprehensive product range features ngenea, a leading data acceleration platform, and accelerated data processing cards for storage and compute.

With Kalray solutions, customers can scale their infrastructures to efficiently meet performance and capacity needs for data-intensive tasks, all without being tied to specific data formats or vendors.

Founded in 2008 as a spin-off from the French CEA research lab, Kalray has corporate and financial backing from notable investors such as Alliance Venture (Renault-Nissan-Mitsubishi), NXP Semiconductors, and Bpifrance. Committed to innovation and excellence, we strive to deliver value to our customers, developers, and the planet through technology and expertise.

CONTACTS

[1] See press release 3 June 2024

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