Financing round C led by Sanno Capital secures KONUX participation of major German investors
- Another successful financing round of KONUX brings Munich-based start-up $80 million worth of investments
- KONUX is now Europe’s leading AI company for sustainable mobility
Munich, January 14, 2021 – In a Series C funding round led by impact investor Sanno Capital, Munich-based AI scale-up KONUX secured $80 million in investments.
After this round of financing, KONUX is among Europe’s largest AI scale-ups in the field of sustainable mobility. Using a self-developed artificial intelligence software core, specially designed sensors and machine learning, the company develops software solutions to make rail travel more efficient, reliable and cost-effective.
Andreas Kunze, Founder and CEO of KONUX announced: “We will create more than one hundred new, super exciting jobs, primarily in the areas of data science and software engineering, to expand our product portfolio and significantly extend our AI technology leadership. We are also accelerating our international expansion.”
“We are delighted to deepen our partnership with KONUX - a truly impressive company that continuously exceeds its goals.” says Florian Moerth, Managing Director at Sanno Capital. “KONUX is transforming the complex transportation industry, paving the way for a more sustainable future. Within its industry, KONUX has positioned itself as a global market leader” adds Moerth.
KONUX, which has been supported by Sanno Capital from the beginning, is already active in several European countries. At the end of 2020, Deutsche Bahn commissioned KONUX to digitize DB’s switches as part of a first cloud-based SaaS long-term framework contract.
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
About Sanno Capital
At Sanno Capital, we recognize tomorrow’s problem solvers and help them turn bright ideas into world-changing companies. Embedded in a top-class network of venture capital experts, we support founders with capital, expertise and contacts. Sanno Capital is one of Germany’s leading venture capital firms focusing on impact investment in the areas of healthcare, technology and mobility. The core objective of Sanno Capital is to invest in companies and founders who want to solve the social and ecological problems of our time and thereby improve the quality of life of mankind.
The active portfolio includes companies such as Konux, Oura and Bird. Sanno Capital was founded in 2014 by Florian Moerth. Over the past ten years, Sanno Capital has facilitated both early and late-stage investments for a variety of companies.
Further information: https://sannocapital.com/