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KONUX named “Technology Pioneer 2017”

The Munich-based IoT company KONUX, which is digitizing the railway industry using artificial intelligence and predictive maintenance solutions, was selected from hundreds of candidates as a World Economic Forum "Technology Pioneer." The title recipients are considered a selection of the world's most innovative companies.

KONUX combines smart sensors and analytics based on artificial intelligence, enabling railway companies to improve the punctuality and capacity of their rail network through predictive maintenance planning and optimized use of railway lines. The industrial IoT startup was founded in 2014 by Andreas Kunze, Vlad Lata, and Dennis Humhal—all three students at the Technical University of Munich at the time—and recently $16 million in its Series A funding round This year, KONUX will primarily focus on its expansion into the European railway market and further increase the availability of critical assets through the use of artificial intelligence.

“Group of extraordinary pioneers”

The World Economic Forum’s “Technology Pioneers” include young companies from around the world that develop and deploy new technologies and innovations and have the potential to have a lasting impact on business and society.

This year's Technology Pioneers are leaders in the fields of artificial intelligence, augmented reality, autonomous driving, biotechnology, blockchain, cybersecurity, the (Industrial) Internet of Things, and other groundbreaking technologies. Many of the new Technology Pioneers will attend the World Economic Forum's Annual Meeting in Davos in January 2018 and will serve as members of this WEF community of outstanding innovators for a period of two years.

“We are delighted to welcome KONUX to this group of exceptional pioneers,”

says Fulvia Montresor, head of Technology Pioneers at the World Economic Forum. He continued:

“We hope that in this way, the World Economic Forum can facilitate greater collaboration with business leaders, governments, civil society representatives and other key stakeholders to find even faster technical solutions to today's biggest challenges.”

Kunze: “We feel honored!”

“We are honored that the World Economic Forum has recognized us as a pioneer in artificial intelligence and predictive maintenance,”

says Andreas Kunze, Managing Director and co-founder of KONUX.

“We will do our utmost not only to further advance the digitalization of the railway industry, but also to accelerate the use of IoT technologies across the entire industry and help shape the future of the transport sector.”

Konux follows in the footsteps of Google & Co.

A selection committee of more than 60 academics, entrepreneurs, venture capital investors, and businesspeople compiled the final list of the 30 Technology Pioneers. Members of this committee included Geoffrey Moore (consultant at Geoffrey Moore Consulting, USA), Yossi Vardi (Chairman of International Technologies, Israel), and Lee Sang-Yup (professor and dean of the Korea Advanced Institute of Science and Technology, South Korea).

The selection process considered criteria such as innovation potential, potential impact, and leadership qualities. Technology Pioneers of recent years have included companies such as Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Scribd, Spotify, Twitter and Wikimedia.

Here you will find more information about this year's Technology Pioneers.

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Florian Deglmann

The exiled Nuremberg resident researched the Munich startup scene as an editor until April 2019.

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