Business Wire

Traxens Closes €20M Series C Financing Round With Key Strategic Partners

Share

Traxens, expert in providing high-value data and services for the supply chain industry, today announces that it has closed a Series C funding round worth close to €20M ($22.7M), led by the Itochu Corporation, Bpifrance and Supernova Invest (Crédit Agricole Innovations et Territoires Fund).

This financing will enable the company to launch a global large-scale sea-land fleet of IoT tracking solutions on vessels operated by its partner shipping companies, including CMA CGM and MSC. Traxens expects to have 100,000 containers (both dry and reefer containers) equipped with its solution by end of 2020, making it one of the major players in the IoT for smart containers industry. This number is set to grow even higher after Traxens announced in June 2019 that Maersk will become a shareholder and customer with an initial order for up to 50,000 containers.

Traxens’ Internet-of-Things solution is based on a patented, breakthrough technology that enables access to the most comprehensive, precise and timely data for managing assets in transit anywhere in the world. This technology brings improved efficiency and security, greater transparency and enhanced asset utilization, while opening up new opportunities for shipping companies.

“This Series C funding round is a major milestone that consolidates our strategy and will enable us to deploy our solution at a significant scale in the coming years,” said Jacques Delort, managing director of Traxens. “The financing will help us to reach critical mass quickly as a data producer in a booming market. We will increase the visibility of the company in existing and new markets as well as that of our solution, while our first commercial partnership shows the great potential of our solution.”

“Traxens offers an innovative solution for the supply chain industry. We believe that the collaboration with Traxens will enable us to develop epoch-making products and services in the field of Big Data/IoT, which fits in perfectly with ITOCHU group’s growth strategy,” said Shunsuke Noda, ITOCHU Corporation’s CDO・CIO. “In addition to our investment, we are looking forward to our role as Traxens partner to grow the sales of its products and services in Asia, a region where sea-land traffic is booming.”

“We are delighted to make this investment in Traxens, a company we know well,” said Emmanuel Audouard, director at Bpifrance. “Our objective is to support ground-breaking innovations and we are convinced Traxens is very well positioned to become a global leader in the promising field of smart container management.”

“We are delighted to invest in Traxens, it benefits from outstanding commercialized products and services, and from unique partnerships with the largest shipping companies. We believe Traxens has what it takes to become a global leader in the smart container industry,” said Julien Cristiani, partner at Supernova Invest.

According to IDC, worldwide technology spending on the Internet of Things is set to reach $1.2T (€1.06T) in 2022, attaining a CAGR of 13.6% over the 2017-2022 forecast period.

Traxens already counts major BCOs among its customers, such as the world’s largest chemical manufacturer, BASF, and partners with major shipping lines to provide bespoke tracking data for containers. It recently launched a pilot IoT project in the Spanish port of Valencia with the objective of improving operational efficiency by using Traxens’ solutions to monitor container movement in the port.

Advisors
Bpifrance: Emmanuel Audouard, Muriel Prudent, Valentin Dubois, Ha-Jin Shin de Bruchard
Itochu: Shunsuke Noda, Stephan Lubrano
Supernova Invest: Julien Cristiani
Legal Advisors - Traxens: Nova Partners – Loic Pellegrino
Legal advisors - Bpifrance and Supernova Invest: Degroux Brugère – Jérémie Swiecznik
Legal advisors - Itochu: Ashurst – Anne Reffay
Financial & fundraising advisors: MRFT & Co – Mathieu Rouget

About ITOCHU Corporation
ITOCHU is listed on the Tokyo Stock Exchange and was founded in 1858 when its founder, Chubei Itoh, commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years and is now one of the leading Sogo Shosha (general trading company). ITOCHU has approximately 110 bases in 63 countries and engages in domestic trading, import/export, and overseas trading of various products such as textiles, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment.

www.itochu.co.jp

About Bpifrance
Bpifrance is the French national investment bank. It finances businesses at every stage of their development through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export).

www.bpifrance.fr and presse.bpifrance.fr – Follow us on Twitter: @Bpifrance@BpifrancePresse

About Supernova Invest
Supernova Invest is an independent venture capital firm that has strong relationships with the CEA, one of the world’s leading research organizations, and with Amundi, the largest asset manager in Europe. Investments focus on companies developing disruptive innovations operating in the life sciences, energy & environment, industrial, microelectronics and digital sectors. Today, Supernova Invest manages or advises five funds totaling €250 million ($284M) and has invested in more than 100 start ups since 1999. Supernova Invest is based in France.

https://supernovainvest.com/en/

About Traxens
Traxens generates, collects, consolidates, enriches and transforms logistics asset data into an easily understandable format enabling effective decision-making. The company’s breakthrough Internet-of-Big-Things technology provides comprehensive, real-time information for managing logistics assets anywhere in the world. Traxens’ solutions digitally transform multimodal supply chains, enabling customers to reduce costs, optimize investments, comply with environmental regulations and deliver premium services to their customers.

www.traxens.com

Contact information

Press:
Géraldine Saunière
Director of Communications
g.sauniere@traxens.com
+33 695 915 899

Bpifrance
Christophe Menger
christophe.menger@bpifrance.fr
+33 141 799 512

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

GSMA: Nordic CEOs for a Sustainable Future Seek to Collaborate With Nordic Governments on Climate Action and Diversity in the Workplace20.8.2019 12:00:00 CESTPress release

The Nordic CEOs for a Sustainable Future, an alliance of the leaders of the Nordic region’s leading businesses, met today with the Prime Ministers of the five Nordic countries to discuss a collaborative approach to addressing sustainability challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190820005449/en/ (L to R) Kim Kielsen (Premier of Greenland), Katrin Sjögren (Premier of Åland), Stefan Löfven (Prime Minister of Sweden), Erna Solberg (Prime Minister of Norway), Antti Rinne (Prime Minister of Finland), Mette Frederiksen (Prime Minister of Denmark) , Katrín Jakobsdóttir (Prime Minister of Iceland), Birna Einarsdóttir (CEO of Íslandsbanki), Johan Dennelind (CEO of Telia Company), Sigve Brekke (CEO of Telenor Group), Tone Wille (CEO of Posten Norge), Árni Oddur Þórðarson (CEO of Marel), Odd Arild Grefstad (CEO of Storebrand), Mats Granryd (Director General of GSMA), Svein Tore Holsether (CEO of Yara International).

IPC and Custodia Announce Integration on BlueWave Platform20.8.2019 12:00:00 CESTPress release

IPC, a leading global provider of secure, compliant communications and networking solutions for the financial markets community, and Custodia Technology, a communications compliance solution specialist, announce today Custodia’s integration with IPC’s BlueWave Application Development Platform. The new Custodia-BlueWave interoperability will enable financial organizations to harmonize voice and data management, as well as greatly increase efficiencies, across their individual compliance estate. “There has been considerable change to regulatory standards at the same time that vendors have become more fragmented in their product offerings and service delivery,” said Chris Hartley, Chief Executive Officer, Custodia. “We listened to what our clients have been asking for and continue to build a strong, independent 360-degree delivery model, around centralization of management of the voice recording estate, with a focus on automation.” The collaboration will allow Custodia to add more bespoke

Moody’s Analytics Wins at FocusEconomics Analyst Forecast Awards20.8.2019 10:00:00 CESTPress release

Moody’s Analytics, a global provider of financial and economic intelligence, has won 10 categories in the 2019 FocusEconomics Analyst Forecast Awards. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190820005072/en/ #1 GDP Forecaster – Japan #1 GDP Forecaster – United States #1 Inflation Forecaster – France #1 Inflation Forecaster – Mexico #1 Inflation Forecaster – United Kingdom #1 Exchange Rate Forecaster – Singapore #1 Exchange Rate Forecaster – United Kingdom #1 Fiscal Balance Forecaster – Croatia #1 Fiscal Balance Forecaster – Luxembourg #1 Current Account Forecaster – Switzerland We also earned the award for #3 Best Overall Forecaster – Singapore. To determine the top economic forecasting firms in these annual rankings, FocusEconomics assesses the accuracy of forecasts submitted to its monthly survey over a 24-month period. The 11 awards we received this year reflect the accuracy of our macroeconomic forecasts for key i

Argo: New Agreement Signed to Expand Power Capacity by 357%20.8.2019 09:23:00 CESTPress release

Argo, a UK-based provider of enterprise scale cryptocurrency mining services (LSE: ARB), is pleased to announce it has entered into a new agreement that will increase its electricity supply by 357 per cent. Under the terms of the agreement with GPU.one, a leading Canadian data centre provider, the Company’s access to clean power supplies increases from 14 megawatts to 64 megawatts, on similar terms to its existing agreement, at its two data centres in Quebec and its new data centres in Eastern Canada. The agreement covers a three-year period from June 25th, 2019, with an option to extend thereafter for an additional two years. The addition of 50 megawatts of power will allow the Company to run up to 15,000 more mining machines concurrently, taking its total Bitcoin (BTC) mining capacity from 505 petahash (PH), as announced on July 4th, to 1.36 exahash (EH), which would currently make Argo the largest publicly listed crypto miner in the world. The new agreement will be entirely funded o

Resolve Acquires FixStream for $24M USD to Deliver Game-Changing Combination of AIOps and Advanced Automation in a Unified Platform20.8.2019 08:00:00 CESTPress release

Resolve Systems®, the leading IT automation and orchestration platform, today announced the acquisition of FixStream, a pioneer in AIOps. The acquisition, expected to close by the end of September, will enable Resolve to offer the most robust IT automation platform available on the market by combining artificial intelligence insights into dynamic, hybrid IT environments with powerful automation capabilities that are purpose-built for the complexity of modern enterprises. The unified platform will handle a wide array of IT operations – from AI-driven infrastructure mapping, operational data correlation, and predictive analytics to intelligently automating cross-domain actions based on those findings. This will enable customers to significantly improve infrastructure performance, reduce mean time to resolution (MTTR), increase IT operations efficiency, reduce alarm noise, and proactively and intelligently allocate resources for critical business services. With 7x revenue growth over the

Wipro Collaborates with IISc for Advanced Research and Innovation in Autonomous Systems, Robotics and 5G20.8.2019 07:27:00 CESTPress release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced a strategic partnership with the Indian Institute of Science (IISc), India’s premier public establishment for research and higher education in science and engineering, to conduct advanced applied research in autonomous systems, robotics and 5G space. The two organizations have jointly set up the Wipro IISc Research and Innovation Network (WIRIN), a hybrid industry academia collaboration unit, which will drive idea discovery, research and innovation in technology and product design. A group of senior professors and research staff from IISc and engineers, developers, architects and researchers from the autonomous systems, robotics and 5G domains at Wipro will constitute the team at WIRIN. They will focus on the research and development of cutting-edge technologies in Artificial Intelligence, Machine Learning, Visual Computing, Huma