Polish bus manufacturer MMI, which focuses on professionalism and modernity in the distribution and production of buses, has secured €7.7 million in funding from the Vinci S.A. fund, as Vinci told Vestbee. The investment will enable MMI to develop electric buses in three variants: low-entry, low-floor, and normal-floor vehicles.
- Polish family-owned company MMI manufactures high-quality tourist and city buses using IVECO and Mercedes chassis, offering both diesel and compressed natural gas (CNG) power options.
- The company employs a team of 70 and has already developed seven different types of these vehicles, including the IVECO Urby CNG, IVECO THESIS, and City Moveo.
- Last year, MMI achieved a threefold increase in its financial performance, surpassing 70 million PLN in revenue.
Details of the deal
- The investment came from Vinci S.A., a Warsaw-based investment management firm, that manages three funds: HiTech ASI, IQ ASI, and Da Gama ASI. The firm supports Polish founders in commercializing their innovations both locally and internationally.
"Our investment in the MMI project aligns with the mission and objectives entrusted to Vinci by Bank BGK, which include developing technologies that support sustainable development and technological transformation in our region," CEO of Vinci S.A., Piotr Woliński, comments in a press release.
- With the newly raised funding, MMI plans to develop electric buses in three variants: low-entry, low-floor, and normal-floor, while strengthening its market position and expanding its offerings across Poland and Western Europe, including Italy, France, Germany, Switzerland, and Scandinavia. The company also aims to create an electric minibus powered by a hydrogen fuel cell and construct a modern production hall, which will double its vehicle production capacity.
"We plan to use the secured capital to create our own brand of small and medium-sized electric buses, including models powered by hydrogen fuel cells, in three variants: low-entry, low-floor, and standard-floor. Our goal is to create buses with the lowest possible curb weight to maximize their range," CEO of MMI, Stanisław Zdrojewski, stated in a statement.
