Konux receives 80 million US dollars

Rail line modernizer Konux raises $80 million in a funding round led by Sanno Capital. Money is also coming from Silicon Valley, with tech investor Athos joining in.

It was only in December that Konux was able to close a deal with Deutsche Bahn that, according to the Handelsblatt

, is worth 15 million euros. This is to be used to equip 1,300 points on the group's lines with sensors to report material fatigue at an early stage. Now, the Munich-based start-up has managed to raise $80 million in a Series C funding round to enter more markets and develop new products. In addition, Andreas Kunze, CEO, says: "We will create more than one hundred new jobs, primarily in the areas of data science and software engineering."

The round was led by Sanno Capital, existing investors like DIVC and Silicon Valley venture capitalist New Enterprise Associates (NEA) are also participating, even personally: NEA co-founder Dick Kramlich is also investing. New to the deal is investment firm Athos, which also holds shares in BioNTech.

Florian Moerth, managing director at Sanno Capital, talks about Konux as a "company that consistently outperforms its targets" and positions itself "as a `global market leader' in its industry."

Konux has been entirely focused on sustainable mobility since 2014 and aims to make rail networks more efficient and reliable through SaaS solutions. So far, they are active in ten countries in Europe and Asia.


Like it? Please spread the word:

Newsletter

Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.

LinkedIn Connect

Take care, give care

Did this news inform or entertain you? Then we would be happy if you tell your network about it.

Share on Linkedin Share on Facebook Share on Xing

Related companies

Startup 2014 München KONUX Combining artificial intelligence with smart sensor solutions to help industrial companies unlock a new level of asset performance.

FYI: English edition available

Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?

Go to English edition

FYI: Deutsche Edition verfügbar

Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?

Deutsche Edition öffnen

Similar posts