Silicon Canals
No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Exclusive content
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Free Personio whitepaper
    • Guest Contributions
    • Newsletter
    • Partner content
  • Global Jobs
  • Tech Events
  • Partner with us
  • Contact
    • Contact us
    • About us
    • Team
    • Contribute your content
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Exclusive content
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Free Personio whitepaper
    • Guest Contributions
    • Newsletter
    • Partner content
  • Global Jobs
  • Tech Events
  • Partner with us
  • Contact
    • Contact us
    • About us
    • Team
    • Contribute your content
No Result
View All Result
Silicon Canals
No Result
View All Result

Munich-based IoT startup secures €15M in venture debt loan from EIB to expand in Europe, US, & Asia

Editorial team by Editorial team
November 16, 2020
in (Crowd)funding, Internet of things, News
IoT
123
SHARES
LinkedInTwitterWhatsAppFacebook

When we talk about the Internet of Things (IoT), it refers to everyday physical devices that are connected to and interconnected with the internet. These ‘things’ are embedded with electronics, sensors, software, actuators, and network connectivity that helps them collect, send, and receive data, as well as connect and interact with other devices. 

Reportedly, nearly 35% of IoT market value is generated from hardware, 27% from IoT services, 22% from connectivity, and 16% from the software. Germany, the UK, France, Italy, Spain, and the Netherlands are already leading European IoT adoption. Currently, the home, health, and finance sectors are the front runners in IoT adoption.

- Partner content -
How to improve your open source security?
How to improve your open source security?
Follow these three steps and get on the path to stronger security practices.Show More
Follow these three steps and get on the path to stronger security practices.Show Less
Read more

The funding

With this growth in the sector, a Munich-based IoT company Kinexon, that develops hardware and software, has raised €15M in venture debt loan from the European Investment Bank (EIB).

The capital is supported by the European Fund for Strategic Investments (EFSI). EFSI is the financial heart of the Investment Plan for Europe, under which the EIB and the European Commission work together to remove obstacles to investment and make smarter use of financial resources.

The startup has to complete pre-defined milestones to receive the EIB venture debt loan – the loan will be granted in three tranches.

The raised capital will help Kinexon to expand in Europe, the US, and Asia, as well as support the development of its new products, including enhanced data analytics and artificial intelligence (AI).

About Kinexon

Founded in 2012 by Alexander Hüttenbrink, Maximilian Schmidt, and Oliver Trinchera, Kinexon offers expertise in sensor network development, edge computing, and real-time process automation. 

Besides, the company also focuses on the use of ultra-wideband technology, which offers superior accuracy, reliability, safety, and scalability compared to Bluetooth or Wi-Fi. KINEXON’s technology provides solutions in production and logistics – for instance, in process analysis and optimisation, automation, and robotics.

In simple terms, it helps connect things to achieve measurable benefits in real-time.

The technology is also used in professional sports; the company enables in-depth performance analytics, injury prevention, and next-generation fan engagement.

Wearable against COVID-19 to contact warning and contact tracing

Kinexon launched the SafeZone application just a few weeks after the COVID-19 lockdown in Germany. Its application captures risk encounters live, to the nearest centimetre, and on an anonymous basis.

A small, wearable sensor warns users if they are below the physical distance recommended to prevent coronavirus infection.

If an infection is detected in a group of employees or athletes, SafeZone identifies critical contacts with other team members in accordance with data protection regulations. 

The solution does not record any movement, position, or health data of employees – it simply measures the distance between two sensors and the duration of contact, claims the company. 

Oliver Trinchera, co-founder, and MD of Kinexon, says, “Europe is in pole position to shape the future of IoT. With our real-time operating system, we want to play a leading role in connecting these ​‘things’ and making them interact in a fully automated way. Over the past few years, the need for our solution has led to annual triple-digit growth.”

Image credit: Kinexon

 - Partner content -
Personio
Half your staff are planning to quit soon!
Here’s how you can make them stay. Check it out!Show More
Here’s how you can make them stay. Check it out! Show Less
Read more
Tags: fundingInternet of thingsnews
Share9Tweet31SendShare49

Featured | Tech Events

Current Month

february

09feb13:0014:00Key Employee Visa Programme for Dutch StartupsAre you a Dutch startup that is interested in attracting international talent or relocating your team to the Netherlands?

Silicon Canals | Jobs


Free HR whitepaper | by Personio

Want to know how HRs across Europe are rethinking retention and performance management post pandemic? Get this FREE whitepaper by PERSONIO now!

Partner content | Work with us

Recruiters become job seekers: The changing face of recruitment amidst tech layoffs

Putting the Capital in HCM: A look at how HR is defining strategic business decisions in a digital-first world

From retail to hospitality: how Omniboost evolved its product to solve a major data challenge with tech

Breaking news from Amsterdam | Partner

Women in AI: Prominent Amsterdam-based AI thought-leaders reveal their inspirational role models

Amsterdam’s ViaLuxury.com bags funds for AI-based overcapacity booking platform for luxury hotels

Amsterdam’s People Intouch, a whistleblowing platform, bags funds from Fortino Capital

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals © 2014-2023 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Exclusive content
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Free Personio whitepaper
    • Guest Contributions
    • Newsletter
    • Partner content
  • Global Jobs
  • Tech Events
  • Partner with us
  • Contact
    • Contact us
    • About us
    • Team
    • Contribute your content

Silicon Canals © 2014-2023 | Website: Bright Idiots

Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
X
X