KONUX Raises $80 Million From Investors

On Friday KONUX said, it had raised $80 million from investors, and would hire 100 data scientists and software engineers to develop and expand its product portfolio. KONUX is a Munich-based startup that uses artificial intelligence to help run railway networks. The Series C funding round was conducted by Sanno Capital while it was also financed by Athos, the investment vehicle of the Struengmann family that is the largest shareholder in COVID-19 vaccine developer BioNTech. Existing investors also participated in the round, including DIVC and Silicon Valley-based NEA – a backer of commission-free stock trading app Robinhood – and NEA’s former chairman Dick Kramlich. KONUX runs a software platform that uses smart sensors and machine learning to enhance the operation of rail networks. It includes Deutsche Bahn as a client and operates in 10 countries.