KONUX Secures USD 80 Million in Series C Financing for AI-based Sustainable Transportation
MUNICH, Jan. 15, 2021 -- KONUX, a Munich-based AI scale up, has successfully secured a USD 80m Series C financing round, led by impact investor Sanno Capital. New to the round is technology investor Athos, the family office of the Struengmanns, who are also the largest BioNTech shareholder. Existing investors participated significantly in this round, including DIVC, and leading Silicon Valley VC New Enterprise Associates (NEA). Furthermore, NEA’s Co-Founder and former Chairman Dick Kramlich is also participating personally in this transaction.
Following this financing round, KONUX is now the largest AI scale-up in Europe in the field of sustainable transportation. Based on its own AI-Core, KONUX is building SaaS products, using IIoT devices and machine learning to improve railway network capacity, reliability, and cost-efficiency. Learn more about our Predictive Maintenance System for Rail Switches.
KONUX Founder and CEO Andreas Kunze said: “Rail will play a major role in our long journey to lower CO2 emissions. To achieve this, rail infrastructure needs to be upgraded and digitized in order to become the mobility choice of tomorrow. KONUX is perfectly positioned to become a global market leader in rail’s digital transformation.”
“With Athos‘ and the Struengmanns‘ capabilities to make entrepreneurship ‘Made in Germany’ a global success, we are excited to work with KONUX and alongside such reputable existing investors on the next chapters of the business,” said Dr. Michael Riemenschneider, Managing Director of Athos.
Andreas Kunze added: “We will create more than a hundred new and super exciting jobs, especially in data science and software engineering to significantly expand our product portfolio and AI technological leadership. Additionally, we will boost our global market footprint.”
KONUX is already active in ten countries, both in Europe and the most important rail markets in Asia. At the end of 2020, KONUX and Deutsche Bahn (DB) concluded the first ever cloud-based SaaS long-term framework agreement on the digitization of DB’s switches, as critical elements of the rail infrastructure to make passenger travel and cargo transportation more reliable.
KONUX is a leading German AI scale-up, transforming railway operations for a sustainable future. The company combines Machine Learning and IIoT to deliver Software-as-a-Service (SaaS) solutions for operation, monitoring, and maintenance process automation. KONUX increases capacity, reliability, and cost-efficiency to make railway the mobility choice of tomorrow. Since its foundation in 2014, KONUX has raised more than $130 million from world-leading investors, expanded to ten countries in Europe and Asia, and was selected by the World Economic Forum (WEF) as one of the world’s 30 most innovative start-ups and scale-ups worldwide. For more information please go to www.konux.com.