Munich-based IoT startup KONUX announces final close of its Series A funding round worth $16 million

The Munich-based Industrial IoT startup KONUX announced today that it has raised another $9 million from existing investors, led by New Enterprise Associates (NEA). This internal round was the third and final close of their Series A financing, bringing the total raised to $16 million. Other participants in the comprehensive Series A include: MIG, Upbeat Ventures, Andy Bechtolsheim, Michael Baum, UnternehmerTUM, Warren Weiss and Lothar Stein. KONUX is one of the very few German startups that were able to attract leading Silicon Valley VCs.

KONUX CEO Andreas Kunze stated: “We aim to continue this strong momentum and drive IoT implementation with real business results. We feel very proud to have our current investors believing in us and supporting us on our journey. This additional funding is a true show of their confidence.” Read the full story here.