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World Economic Forum lists TUM start-up KONUX among top 30 new companies
Every year, the World Economic Forum (WEF) publishes a list of 30 promising young tech companies. In 2017, this group of technology pioneers included a start-up founded by three students from the Technical University of Munich (TUM): KONUX develops sensors and analytics software which help companies monitor their infrastructure in real time. The rail industry is one of a number of sectors in which this system is proving useful.
The World Economic Forum has been publishing its annual list of technology pioneers since 2000. In the past, this list has included companies such as Google, Spotify, Kickstarter and Mozilla. The international jury selects the winners based on their potential to have a significant impact on business and society.
KONUX was founded in 2014. Its three founders Andreas Kunze, Dennis Humhal and Vlad Lata studied at the TUM departments Electrical and Computer Engineering, Informatics, and Mechanical Engineering and the TUM School of Management. Together they developed a system of smart sensors and analysis software based on artificial intelligence. It allows companies to not only monitor the status of their systems, but also predict any required maintenance ahead of time. Railway networks are a key focus for KONUX. The application of their networked sensors in rail networks is designed to recognize potential disruptions before they actually happen.
KONUX was supported before, during and after its inception by TUM’s Start-up Advising Team. It gained additional support from UnternehmerTUM, the Center for Innovation and Business Creation, whose venture capital fund also invested in KONUX. According to the latest “Start-up Radar” published by the Stifterverband für die Deutsche Wissenschaft – the business community’s innovation agency for German science, no major German university provides better support for start-ups than TUM. In the time since its foundation, KONUX has gained a number of renowned companies as customers, completed several rounds of financing and opened a branch office in Silicon Valley.
This news was first published on www.tum.de
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