Kinexon, a Munich, Germany-based provider of sensing and software solutions for the Internet of Things (IoT), raised $130M in Series A funding.
The round was led by Thomas H. Lee Partners, with participation from BMW i Ventures and Telekom Innovation Pool.
The company intends to use the funds to accelerate international expansion and scale its operating system for connected and automated operations.
Led by Dr. Oliver Trinchera, and Dr. Alexander Hüttenbrink, Kinexon provides cloud software that captures, optimizes and automates processes in manufacturing, logistics, and sports. Operating under two core segments, Kinexon Industries and Kinexon Sports & Media, the company’s full Internet of Things stack product portfolio combines software with any sensors and connected devices, creating an end-to-end solution for automation.
Kinexon Industries’ technology enables companies like BMW, Continental, Siemens, and Airbus to improve productivity as well as sustainability and reduce costs in manufacturing and logistics.
In sports, its automated real-time content generation enables the analysis of athletic performance as well as the enrichment of sports broadcasts with novel data, for example for augmented reality applications.
Michael Kaczmarek, Managing Director at THL, and Jim Carlisle, Managing Director and Head of THL’s Automation Fund, will join Kinexon’s Board of Directors alongside Michael Süß, Chairperson of the Oerlikon Board of Directors and former Member of the Siemens AG Managing Board, and Carl-Peter Forster, former member of the BMW Board of Management and former CEO of General Motors Europe and Tata Motors.
The company has more than 300 employees across offices in Munich and Chicago.