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.