Mon. Apr 22nd, 2024
kinexon iot 130m series 18msawersventurebeat

Kinexon confirms $130 million in fresh capital, as part of its Series A round. The company offers a platform for real-time location analytics and data. This is handy across business segments including sports, shipping, and manufacturing. The platform helps companies collect data, optimize their business systems, and automate the same with specific hardware and software (cloud-based) solutions.

The company began operations in 2012 in Germany. It helps companies like Siemens and BMW learn more about the location of items at manufacturing facilities and their performance while linking the same to existing setups including WMS (warehouse management systems) and ERP (enterprise resource planning) tools. This helps them get holistic and bigger pictures of whatever takes place in any specific zone.

This information helps companies get valuable real-time analytics and insights into whether stocks are low for any crucial material if a particular item is already en route towards shipping/packing, and even the proximity of human beings to forklift trucks (averting mishaps). The platform collects data from RFID, GPS, barcodes, and UWB, among other sources.

Kinexon also works with sports firms, including broadcasters, teams, and brands, offering player-monitoring tech solutions. These help in tracking athletic performance, via sensors worn by athletes or embedded into balls for instance. Kinexon has already garnered $18 million in debt and seed funding at the beginning of its journey and this latest funding round will help scale up its presence throughout Europe and North America.

The firm envisions a world where operations, people, and other assets remain smoothly in motion, while the underlying procedures and systems can be automated. The fresh investment will help the company expand its presence, according to the CEO and Co-Founder, Oliver Trinchera. He feels that the company can tap into growing consumer needs worldwide.

By earthao