Konux, a Munich-based Industrial Internet of Things (IIoT) company has raised €11.5 million in an extension of its Series B round, bringing the total amount raised in the round since last year to €29 million. So far, the company has raised a total of €49.2 million.
This investment was led by New Enterprise Associates (NEA), Upbeat Ventures, MIG AG and new investor Alibaba Group. With the new funding, KONUX plans to expand internationally, especially in China.