Smart sensor monitoring systems, supported by EIT Digital.
KONUX's smart sensor systems visualise and predict the industrial world, empowering industrial and rail companies to reach a new level of asset performance and helping to digitise the rail industry. KONUX does so by offering a smart sensor solution for industrial Internet of Things (IoT) applications and intelligent, networked systems. The venture offers industrial IoT solutions combining smart sensors, data fusion and AI-based analytics to increase asset availability and optimise maintenance.
They joined the EIT Digital Accelerator, also in 2014, after winning first prize and EUR 40 000 in the Idea Challenge start-up contest in the Cyber-Physical Systems category. Within the EIT Digital Accelerator, KONUX benefited from sales training across Europe and expanded its network in the US through the business development team at EIT Digital's Silicon Valley hub. Already by the end of 2014, KONUX had secured US incorporation, expanded its team and opened a new office in Munich. In the spring of 2016, EIT Digital assisted KONUX with a successful roadshow in Silicon Valley, bringing substantial investments. KONUX has also been featured by Forbes on their 30 under 30 list.
Currently, KONUX is active in ten countries, both in Europe and in the most important rail markets in Asia. At the end of 2020, KONUX and Deutsche Bahn (DB) concluded long-term framework agreement on the digitization of DB’s switches, as critical elements of the rail infrastructure to make passenger travel and cargo transportation more reliable. Read more about this news here.
Since its foundation in 2014, KONUX has raised close to €110 million from world-leading investors, expanded to multiple countries in Europe and Asia, and was selected by the World Economic Forum (WEF) as one of the world’s 30 most innovative startups and scaleups worldwide.
In 2016 Andreas Kunze was nominated for the EIT Venture Award. The annual EIT awards recognises the extraordinary talent found in the Innovation Communities. The EIT Venture Award showcases successful start-ups supported by the EIT Community through a dedicated business creation or business acceleration process.
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.
Andreas Kunze, Co-Founder and CEO of KONUX
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EIT Digital Accelerator alumnus KONUX raises additional USD 13 million
EIT Digital Accelerator alumnus KONUX raises another USD 20 million
EIT Digital Accelerator alumnus KONUX secures EUR 65.7 million Series C Funding
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