Konux receives 80 million US dollars

Rail line modernizer Konux raises 80 million US dollars in a financing round, led by Sanno Capital. Money is also coming from Silicon Valley, with tech investor Athos as a new investor.

It was only in December that Konux was able to conclude a deal with Deutsche Bahn, which, according to the Handelsblatt is said to have a volume of 15 million euros. The aim is to equip 1,300 points on the Group's lines with sensors to detect material fatigue at an early stage. The Munich-based start-up has now raised 80 million US dollars in a Series C financing round to open up further markets and develop new products. Andreas Kunze, CEO, also 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 such as DIVC and venture capitalist New Enterprise Associates (NEA) from Silicon Valley are also participating, even personally: NEA co-founder Dick Kramlich is also investing. A new addition is the investment company Athos, which also holds shares in BioNTech.

Florian Moerth, Managing Director at Sanno Capital, talks about Konux as a "company that continuously exceeds its targets" and "positions itself as a global market leader" in its sector.

Konux has been focusing entirely 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.