Target Partners leads $3.1m seed round for Corrux

Target Partners was joined in the round by Josef Brunner, who is the CEO of Relayr and American venture investor Sean Dalton.

The firm is deploying from Target Partners Fund III, which held its final close on €68m in 2014.

The fresh capital will be used to expand into the US and Europe. The company is operating pilot projects with some clients, including construction company Jaeger.

A spokesperson told Unquote that Target Partners expects another funding round for Corrux soon, based on the company's expansion plans. The VC is also considering co-investment opportunities.

Company
Corrux builds software that simplifies the use of construction equipment and provides real-time data insights to construction site managers. The company employs fewer than 10 people and is based in Munich.

People
Target Partners - Michael Münnix (partner).
Relayr - Josef Brunner (CEO).
Corrux - Laura Tönnies (CEO), Ryan Henderson (CTO).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany
• Target Partners