Konux builds SaaS products that combine machine learning and Industrial Internet of Things (IIoT) to operate, monitor and automate railway maintenance processes, aiming to increase capacity, reliability and cost-efficiency. The company says clients reduce maintenance expenses by more than 25%. Konux is active in ten countries across Europe and key rail markets in Asia. After the latest financing the company positions itself as the largest AI scale-up in Europe in sustainable transportation. The raised capital will be used to hire 100 data scientists and software engineers, tripling headcount to about 300 and expanding the product portfolio and global market footprint. Konux won a DB tender to digitize 1,300 switches under a long-term framework agreement, with DB investing €15M in that stage. The company was founded in 2014 by Andreas Kunze, Dennis Humhal, Maximilian Hasler and Vlad Lata and is based in Munich. KONUX combines smart sensors with AI-based analytics to enable higher train punctuality and increased network capacity through predictive maintenance planning and optimized railroad utilization. Co-founded by Andreas Kunze (CEO), Dennis Humhal (COO) and Vlad Lata (Vice-Chairman), the company focuses on railway analytics and optimization. KONUX was named one of the most innovative scale-ups by the World Economic Forum. Financially, the company completed a Series B extension of €11.5 million, bringing the round total since last year to €29 million and total funding to date to €44 million. Boundary Holding joined the Series B1 extension (amount undisclosed) alongside earlier investors, and the capital is intended to support international expansion. The company plans to expand into railway-dense regions including parts of Europe, Asia, Southeast Asia and India. Konux develops a solution that pairs smart sensors with AI-based analytics to enable predictive maintenance planning for railroad infrastructure. Its platform allows clients to continuously monitor infrastructure, identify maintenance needs ahead of time, and improve operational efficiency. By enabling predictive maintenance and optimized utilization of railroads, the company aims to increase train punctuality and network capacity. Led by CEO Andreas Kunze and based in Munich, Konux intends to use its recent funding to accelerate product development and drive international market expansion. The company aims to be active in more than half a dozen countries by the end of the year. In April 2018 it completed a $20m Series B financing. Konux develops a solution that pairs smart sensors with AI-based analytics to provide real-time asset performance monitoring and enable predictive maintenance. The company has begun deployments with Deutsche Bahn to digitize rail switch condition monitoring. Led by CEO Andreas Kunze, Konux intends to use the new funding to add product features and expand into additional European countries. Founded in 2014, the company has a team of about 35 employees. Prior to the latest close, Konux had raised a total of $18M. The product and go-to-market focus is on industrial asset condition monitoring for rail operators and similar customers. Konux develops smart sensor systems and data analytics powered by artificial intelligence to help industrial companies analyze machine problems, predict maintenance needs, and generate real-time machine insights. Its products aim to increase equipment uptime and reduce maintenance costs. The company is led by CEO Andreas Kunze and is based in Munich, Germany. Since its inception at the end of 2014, Konux has acquired multiple customers including major customer Deutsche Bahn. In April 2016 Konux raised $7.5M in a Series A to fund platform expansion and product rollouts for new and existing customers.

Total raised

$130M

Funding rounds

5

Latest round

Series C

Latest activity

Jan 2021