KONUX, enabling predictive machines maintenance with smart industrial sensor systems, has just raised an investment of $7.5 million. The startup has been supported by EIT Digital since its inception, in 2014.
The industrial world is struggling. Using out-dated sensor technologies, industry cannot prevent or understand machine and infrastructure breakdowns, resulting in billions of USD losses each year.
KONUX builds smart sensor systems that can provide insights into these breakdowns and generate robust, real-time data. By combining this measured data with the right analytics, KONUX enables customers to understand their machine problems and make maintenance predictable, helping to reduce expenses by 25% or more. This can be applied in railway, aviation, pipelines, robotics, industrial automation etc.
KONUX experienced powerful traction and acquired multiple customers including Deutsche Bahn, one of the world’s leading passenger and logistics railway company operating in 130 countries across the globe. Deutsche Bahn invests more than $1.6 billion per year in infrastructure maintenance. Working with the KONUX solution reduces costs and increases the safety as well as the quality of the infrastructure.
KONUX was also showcased at SEC2SV (Startup Europe comes to Silicon Valley), a matchmaking event to meet potential customers. KONUX was introduced to the EIT Digital partner Siemens and could collaborate with the giant for 3 months, both in Munich and Berkeley.
The funding will be used to expand the product platform, roll out products in volume for new and existing customers and establish KONUX as the leading company for machine insights.
