NEA, others back German IoT startup Konux

Munich, Germany-based industrial IoT company Konux announced it has raised $7.5 million in a Series A round of funding from New Enterprise Associates, VC MIG and individual investor Andy Bechtolsheim. Additional investors include UnternehmerTUM, Warren Weiss and Michael Baum, founding chief executive of Splunk. Konux is developing smart sensor systems for industrial companies and helps them reduce maintenance costs with artificial intelligence.

North AmericaUSBriefs