Traxens, a French company providing logistics asset data and services for the supply chain industry, has announced a Series C funding round at €20 million ($22.7 million). The financing will come from Itochu Corporation, Bpifrance, and Supernova Invest, and will be used to improve the company’s smart containers and rail freight businesses.
Traxens plans to retrofit 100,000 containers with the Internet of Things solution by the end of 2020. What is more, BASF will be a customer, while Maersk will also join in July as a shareholder and customer.
Traxens will cooperate with major shipping companies to provide tracking data for containers. For this reason, it recently launched a pilot IoT project in the Spanish port of Valencia, aiming to improve operational efficiency in monitoring container movement in the port.
Commenting on the occasion, Shunsuke Noda, ITOCHU Corporation’s CDO and CIO, explained that Traxens’s future lies in the Asian market. He added that in this market, sea-land traffic is booming.
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