Traxens develops a patented Internet-of-Things solution that generates, consolidates and enriches logistics-asset data to provide comprehensive, real-time information for managing containers and other assets in transit. Its technology is marketed to shipping lines and shippers to improve efficiency, security, transparency and asset utilization. The company partners with major carriers including CMA CGM and MSC and counts customers such as BASF; it also launched a pilot IoT project in the port of Valencia. Traxens plans to deploy a global, large-scale sea-land fleet of IoT tracking solutions on vessels operated by partner shipping companies. The company expects to have 100,000 containers (dry and reefer) equipped with its solution by the end of 2020, and noted Maersk became a shareholder and customer in June 2019 with an initial order for up to 50,000 containers. Traxens is reported from Marseille, France. TRAXENS builds hardware and software to capture cost‑effective data from multimodal shipping containers and uses Big Data techniques to deliver actionable information to the right people at the right time. The company positions its solution to help stakeholders in multimodal transport improve costs, optimize investment, and offer premium services, and works with partners to establish industry interoperability standards. TRAXENS is undertaking a production ramp‑up to fulfill a significant order backlog of more than 100,000 devices and data subscriptions slated for delivery in 2016. Financially, the company has secured multiple funding sources including a capital increase and bank financing to support that ramp‑up. Earlier financing involved shipping giant CMA CGM and two major French banks, Crédit Agricole and BPPC Group, and TRAXENS was awarded €2M in the International Innovation Challenge. The company announced this financing from Marseille, France, and TERTIUM will take board representation through partner Florence Canonge.

Total raised

$24M

Funding rounds

2

Latest round

Series C

Latest activity

Jul 2019