BMW i Ventures and Telekom Innovation Pool both invested in a series A round for the IoT system provider, which had developed dedicated technology products with their parent companies.
Germany-headquartered internet-of-things (IoT) technology provider Kinexon secured $130m today in a series A round that included carmaker BMW and telecommunications firm Deutsche Telekom.
The round was led by private equity firm Thomas H Lee Partners, which invested through its Fund IX and Automation Fund. The corporates participated through corporate venture capital vehicles BMW i Ventures and Telekom Innovation Pool respectively.
Spun out of Technical University of Munich in 2012, Kinexon has built a full-stack IoT system which combines sensors and…
