Hyperdrive
BioNTech Billionaires Back Startup Trying to Keep Trains on Time
- Konux collects data on rail switches, predicts repair needs
- Firm’s software meant to reduce downtime, maintenance costs
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A Munich startup that has developed software to minimize train delays raised $80 million from investors including a pair of German billionaire brothers who own almost half of Covid-19 vaccine maker BioNTech SE.
Konux GmbH raised the money from Sanno Capital, New Enterprise Associates, Dick Kramlich and Deutsche Invest Capital Partners and will use it to triple staff to 300, the company said Thursday. Athos, the investment vehicle of Andreas and Thomas Struengmann, who sold drugmaker Hexal to Novartis AG before investing in BioNTech, joined as a new investor.