For Yape six million euros of investment from Eldor Corporation

This is another demonstration of the fact that you can start out big

For Yape six million euros of investment from Eldor Corporation

For Yape six million euros of investment from Eldor Corporation

This is another demonstration of the fact that you can start out big

For Yape six million euros of investment from Eldor Corporation

This is another demonstration of the fact that you can start out big

For Yape six million euros of investment from Eldor Corporation

It began life in the ‘enterprises factory’ of e-Novia, and it developed distinctive skills with the research group MoVe, from the Politecnico of Milan. Then it embarked on a journey from being a start-up to a fully-fledged business, receiving some of the most significant financial investment in Europe in the process. YAPE the self-driving delivery system, which is currently being road tested in Cremona, has an investor who has decided to back the ‘product’ from the ‘enterprises factory’ e-Novia. The strategic partner for the innovative project which is revolutionising urban delivery is Eldor Corporation, a multinational in the automotive sector which has always made high technology one of its strong points. The amount of backing from the group from Lombardy is considerable, a six-million-euro investment which will help to finance YAPE, Your Autonomous Pony Express, to reach ambitious targets in the field of autonomous driving and the next integration of connected systems in smart cities.

“This is another demonstration of the fact that you can start out big” commented Vincenzo Russi, “combining two of the country’s strategic assets: industry and engineering in a key sector like the automotive sector. On one side the Eldor group, representing international level Italian industry, having won numerous awards for what it has achieved. On the other side, a young company, a start-up, YAPE, which represents one of the finest examples of ‘Made in Italy’ engineering, able to combine technical-scientific expertise in vehicular mobility systems, and characterised by the model of sensing, reasoning and acting. The coming together of these two national assets showcases an excellence that is comparable to the most innovative and evolved places in the world, leading our companies to take part in the kind of technological challenges that have seen a concentration of investment and expertise in Silicon Valley. The automotive sector, a key sector at international level, and one which is growing powerfully and aggressively in California, through engineering skills for use in artificial intelligence, sees this alliance between a multinational company and a start-up as an example of the renewed centrality of our country, and of its expertise”.

“With this investment” commented Pasquale Forte, president and CEO of Eldor Corporation, “we are further demonstrating our desire to be part of the challenge of bringing together big industry with the most advanced technology coming out of scientific universities. We are laying the foundations for an industrial model 4.0 and a new system of open innovation which recognises, in real terms, the value of young and innovative companies that bring with them new ideas and distinctive skills. This is a deep-rooted commitment: our attention has always been focused on the development of products to reduce the consumption of combustion engines and on the consequent reduction of CO2 emissions, and, at the same time, on the development of hybrid-electric propulsion systems and other technologies such as fuel cells. Investing in the development of YAPE, a project which combines self-driving vehicles and electric mobility, will give even more impetus to the development of products that reduce the ecological impact on the planet and enhance Italian expertise”.

The technology used in YAPE is being road-tested now and in the coming weeks in Cremona, thanks to the cooperation with the Centre for Digital Innovation and the local government of Cremona. The self-driving delivery system is being tested in the Lombard city, showing the versatility of the technology in historical Italian city centres, which integrate local life with international commercial initiatives, following medieval streets which connect with busy, modern, arterial roads, and which combine quality of life with the efficiency of modern urban models. The autonomous delivery system is ideal for operating in areas where traffic is not allowed, and is equally useful for both small-scale and large-scale commerce. “The YAPE revolution” continues Mr Russi “is oriented towards the smart city of tomorrow: a city in which the flows of goods being transported are rendered more rational, quieter, and more respectful of environmental limits. A city in which intelligent electric vehicles, which are able to calculate the shortest and quickest routes by computing traffic data in real time, contribute to a reduction in the impact generated by the distribution of products around a city with traditional, inefficient vehicles which cause pollution and congestion. In this way one can contribute towards restoring the centrality and charm of historical city centres, and technology becomes an ally of local commerce, providing modern services, with fast, personalised deliveries.