Konux raises $7.5m from US VCs

UnternehmerTUM and business angels Andy Bechtolsheim, Warren Weiss and Michael Baum also participated in the round. The funding will be used to expand the product platform and roll out products for new and existing customers.

NEA is regularly participating in European funding rounds. In February, the VC backed the $10m series-D of Payleven, a German mobile payments company, alongside Seventure Partners and Holtzbrinck Ventures.

Company
Founded in 2014 and based in Munich, Konux develops sensor solutions to generate machine insights for industrial companies. The deployment of sensor solutions and data analytics based on artificial intelligence enables customers to analyse machine problems, predict maintenance and increase uptime.

People
Konux – Andreas Kunze (CEO).
NEA – Greg Papadopoulos (venture partner).
MIG – Sören Hein (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• Industrials
• Germany