Knorr-Bremse invests in Nexxiot

Nexxiot and Knorr-Bremse have agreed a strategic partnership. This will allow the Munich-based global market leader for braking and other rail and commercial vehicle systems to make comprehensive use of the sensor technology and digital ecosystem of Nexxiot, further details of which can be found in a press release. To secure its strategic minority shareholding in Nexxiot, Knorr-Bremse is investing a sum of 60 million euros, making it the largest single shareholder in the Zurich-based Internet of Things (IoT) provider.

Nexxiot is a leading provider in the TradeTech sector and specializes in upgrading railcars and containers with IoT technology. As soon as the brakes, doors, air conditioning systems, sanitary facilities and other systems developed by Knorr-Bremse are connected to Nexxiot’s digital ecosystem, important data-based insights can be generated, the press release explains. According to Stefan Kalmund, CEO of Nexxiot, the partnership with Knorr-Bremse will put his company in a position to “speed up our own expansion in the rail industry and continue our strong growth” in this sector.

Nexxiot has already equipped around 200,000 networked railcars in Europe alone, which corresponds to more than 25 percent of European fleets. By 2024, the company plans to equip more than 2 million railcars and containers worldwide. In April, Nexxiot signed one of the largest IoT equipment contracts to date with Hapag-Lloyd, in which the parties agreed that  Nexxiot would equip a significant share of the freight company’s 3 million TEU ocean container fleet with IoT technology.