Konux, a Germany-based intelligent railway technology provider backed by e-commerce group Alibaba, has raised $80m in a series C round led by impact investment firm Sanno Capital.
The round included family office Athos and existing backers including venture capital firms DIVC and New Enterprise Associates (NEA) as well as NEA co-founder and former chairman Dick Kramlich.
Founded in 2014, Konux develops artificial intelligence software that utilises connected devices and machine learning technology to enhance the reliability and efficiency of rail networks while increasing capacity.
Andreas Kunze, founder and CEO of Konux, said: “Rail will play a major role in our long journey to lower CO2 emissions. To achieve this, rail infrastructure needs to be upgraded and digitised in order to become the mobility choice of tomorrow. Konux is perfectly positioned to become a global market leader in rail’s digital transformation.”
The company closed a $33m series B round in early 2019 featuring Alibaba, NEA, Upbeat Ventures and MIG, having received $16m in a series A round that included NEA, Upbeat Ventures, MIG, UnternehmerTUM and various angel investors that closed two years earlier.
