Transport tech startup KONUX closes a $80M Series C financing round
Munich-based KONUX has secured $80 million in a Series C round led by Sanno Capital. Existing investors DIVC, New Enterprise Associates, as well as new one Athos joined the round.
Founded in 2014 by CEO Andreas Kunze and CFO/COO Maximilian Hasler, KONUX develops a Predictive Maintenance AI System that uses smart sensors and machine learning algorithms to optimize the operation of rail networks.
KONUX operates in 10 European and Asian counties. At the end of 2020, the company has acquired Deutsche Bahn as its client conducting an agreement on the digitization of DB’s switches to make passenger travel and cargo transportation more reliable.
“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,” Kunze told about KONUX’s future plans.