German startup Corrux raises $3.1M to implement AI in industrial equipment

Munich-based industrial equipment usage analytics startup Corrux has raised $3.1 million in a seed funding round led by German venture capital firm Target Partners, with participation from Josef Brunner, who is the CEO of Relayr and US venture investor Sean Dalton. This seed funding has taken place to implement artificial intelligence in the arena of industrial equipment and scale up its operations. Corrux is an industrial equipment usage analytics startup, which develops simple, powerful applications that let users understand heavy machinery ranging from excavators to track laying machines. The company provides construction managers and OEMs with software to monitor on-site operations and gain insights from data. Moreover, the company's analytics layer lets construction companies and OEMs understand their heavy machinery – ranging from excavators to track laying machines.