Alibaba joins $13m investment in IoT startup KONUX

Alibaba have joined a $13m investment round raised by the Munich-based internet of things (IoT) startup KONUX. These featured contributions are from Alibaba’s investment arm and businesses including New Enterprise Associates (NEA), Upbeat Ventures, and MIG AG. The financial injection accounts for a total of $33m (£25m).

The company integrates smart systems and artificial intelligence (AI) analytics to analyse data. Alibaba haven’t commented on their investment but it appears that with their financial help KONUX aims to grow in China.

This new investment […] will give us even more financial exposure to further expand our product portfolio and accelerate our international market expansion, including our expansion into China. China is the largest and fastest-growing railway market in the world, and thus a key market for us…
– Andreas Kunze, co-founder and chief executive officer, KONUX

RELATED POSTS..

Accio AI Search Engine

Alibaba’s Accio AI Search Engine hits 500,000 SME Users

Athlete365 Business Accelerator Programme launches with Alibaba.com

Athlete365 Business Accelerator Programme launches with Alibaba.com

2025 Omnichannel Predictions with Sharon Gee

2025 Omnichannel Predictions with Sharon Gee

AliExpress discounts, prizes and livestream for UK shoppers in 11.11 Global Shopping event

AliExpress discounts, prizes and livestream for UK shoppers in 11.11 Global Shopping Festival

The Olympic influence on shopping

The Olympic influence on shopping

ChannelX Guide...

Featured in this article from the ChannelX Guide – companies that can help you grow and manage your business.

Latest

Take a look through a selection of the latest articles on ChannelX

Register for Newsletter

Receive 5 newsletters per week

Gain access to all research

Be notified of upcoming events and webinars