The Series C round is led by Sanno Capital. Technology investor Athos has also joined. Existing investors, including DIVC and Silicon Valley-based New Enterprise Associates (NEA), are also participating. NEA co-founder and former chairman Dick Kramlich is also personally investing in Konux.
The company builds SaaS solutions designed to improve the capacity, reliability, and cost-effectiveness of rail networks. Konux uses AI software combined with IIoT units and machine learning.
Konux founder and managing director Andreas Kunze says:
"We want and must drastically reduce CO2 emissions, and rail transport plays a central role in this. It's time to digitize rail infrastructure worldwide and make it as efficient and reliable as possible. This is how we make rail the first choice for mobility. Konux is perfectly positioned to become a global market leader in digital transformation."
“Konux is clearly a world market leader ‘Made in Germany’”
Kunze announces plans to create more than 100 new jobs, primarily in the areas of data science and software engineering. The company intends to expand its product portfolio in this way. Furthermore, Kunze says Konux is accelerating its international expansion.
"Konux is clearly a next-generation global market leader 'Made in Germany' that addresses major challenges in the mobility sector. It's encouraging that such ambitious technology companies with great market potential no longer come exclusively from Silicon Valley, but were founded in Germany and have their headquarters here,"
says Torsten Kreindl, Managing Director at DIVC in Munich. Greg Papadopoulos, former CTO of Sun Microsystems and Venture Partner at NEA, says:
"We are extremely impressed with how Konux has developed. The company has become a pioneer in the digitalization of international railway systems—a huge future market. We are excited to further expand our partnership with the team."
Konux operates in ten countries in Europe and Asia. At the end of 2020, the company secured a multi-million euro contract from Deutsche Bahn. The aim is to digitalise the switches in the railway network in order to make passenger and freight transport more reliable.
