Boundary Holding, a global investment fund founded by Rajat Khare, recently invested in KONUX, a German company that deals in Industrial Internet of Things (IIoT) and artificial intelligence analytics. Co-founded by Andreas Kunze (CEO), Dennis Humhal (COO), and Vlad Lata (Vice-Chairman), KONUX uses predictive maintenance to ensure the optimal utility of railroad structures present across the globe.
With the help of this new-age maintenance technology that is driven by the amalgamation of smart sensors and artificial intelligence empowered analytics, KONUX aims at resolving the issues associated with railway networks such as train delays, network capacity utilization, etc. The investment is inspired by the steady rise of Industrial Internet of Things (IIoT), a unique field that focuses on the assimilation of conventional industries with next-generation technologies like artificial intelligence, big data, and predictive analytics.
The final terms of the deal, which include the total amount of funds (undisclosed), Rajat Khare’s appointment as the Director of KONUX, and the potential of the investment, were mutually discussed and finalized in a closed setup meeting held in London and Zurich. The common vision, analysis, and future expectation between Andreas Kunze and Rajat Khare is speculated to have laid the strong foundation for this deal.
Apart from Boundary Holding, companies such as Alibaba Group, New Enterprise Associates (NEA), MIG AG, Upbeat Ventures, and Andy Bechtolsheim (German billionaire) have also invested in KONUX. Raising €11.5 million in the extension of the Series B funding round, the company has managed to garner €29 million within the last year. Factoring in the overall success of the company, KONUX has a current total fund evaluation of nearly €44 million.
Talking about the investment, Rajat Khare, Director of KONUX and founder of Boundary Holding, said, “We are glad to invest in KONUX and add it to our portfolio of investments. Apart from being a rather promising endeavour, KONUX and Andreas’ vision and passion are aligned with Boundary Holding’s core values and what we ourselves greatly respect and espouse. The synergy, thus exists on both the professional and personal front. The investment is bound to create a definitive, long-lasting, and fecund association.”
While Boundary Holding continues to maintain its portfolio of investing in companies that operate on next-generation technologies, the KONUX deal further demarcates the entry of the global investment fund as a potential investor for other companies working in the field of Industrial IoT.