A Munich based Internet of Technology Company, KINEXON that develops precise real time location wearables combined with innovative analyses has secured a venture debt loan of €15 million from the EIB (European Investment Bank) on 16th November 2020.
The loan will be utilized in promoting their real time localization technology that enables people and objects to interact in a smarter and efficient way utilizing the IOT technology. They will be using the investment for the global expansion in Asia, US and Europe. It will also help in the development and launch of new products incorporating improved artificial intelligence and data analytics. The loan is backed by a guarantee under the EFSI (European fund for strategic investments). The European fund for strategic investments is a €26 billion guarantee from the European Union budget which is complemented by €7.5 billion allocation from the capital of EIB. This €33.5 billion amount is aimed at unlocking the additional investment to €500 billion till 2020. It is implemented by the EIB group.
The Internet of Things promises a future where processes and people can automatically communicate with each other like they are magically controlled. But for achieving this, the prime factor is to know the exact status and location of relevant things which can be connected. All of this requires a live intelligent system that helps in communicating intelligently and quickly, which KINEXON provides. They build real time solutions for location and open edge platforms for communication.
These services are delivered in two major domains: industry and sports services. The KINEXON technology is a blend of sensor networks, real-time process automation, ultra wideband technology and edge computing in a wide range of applications. Their expert solutions for the industry services deliver tailor made products that every industry needs. In the sports services it enables performance analytics, next generation fan engagement and injury prevention. The company serves around 100 + sports leagues and teams across the US which includes 75% of the NBA teams.
They also launched SafeZone a few weeks after the lockdown for covid-19 in Germany. In the meantime they have become the leading digital production fighting against the COVID-19. KINEXON will receive this debt loan in three stages which are based on the achievements of predefined milestones.
About KINEXON
The Germany based KINEXON was founded in 2012 by Oliver Trinchera, Alexander Hüttenbrink and Maximilian Schmidt. Their focus is to deliver the sophisticated full stack solution that offers automation, intelligence and real-time interaction.
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