202114 Jan
KONUX secures USD 80 million in Series C Financing Round
Type
Funding Rounds
Companies
Funding
202114 Jan
$79.01MSeries C
Source
Konux
Summary

Existing investors participated significantly in this round, including DIVC, and leading Silicon Valley VC New Enterprise Associates (NEA). 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. It’s fantastic that technology companies with such an ambition level and market potential are no longer exclusive to Silicon Valley but born and headquartered in Germany,” said Torsten Kreindl, Managing Partner at Munich-based DIVC and one of Europe’s most senior trans-Atlantic venture investors. They have emerged as the thought leader for the digitization of international railway systems — a huge future market, and we are delighted to further our partnership with the team,” said Greg Papadopoulos, former CTO of Sun Microsystems and Venture Partner at NEA. 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.

Classifications
  • AI & Machine learning
  • Data Warehousing Software
  • Data Management
  • Neural Networks
  • Digital Asset Management