Nexxiot announces CHF 76M investment
Zurich-based Nexxiot announced a combined CHF 76 million investment from Knorr-Bremse and existing shareholders led by QVIDTVM. Knorr-Bremse became a strategic minority investor as well as a customer, with plans to integrate Nexxiot hardware and software into rail systems supplied by the group and its North American subsidiaries.
Nexxiot's Globehopper LINK device monitors components such as railcar doors and brakes and transmits their status to a cloud platform. The resulting information supports condition-based maintenance and fleet operations. The investment accompanied plans to connect more of Knorr-Bremse's installed systems, extending Nexxiot's business beyond location tracking towards information about the condition of individual components. Nexxiot reported more than 200,000 connected rail vehicles in Europe at the time.
