– FRANCE, Marseille – Smart container start-up TRAXENS has received 1.5M€ in funding from the French Silicon Valley based investment fund TERTIUM. This capital increase leverages other financing developed with TRAXENS’ banks to support the production ramp-up needed to fulfill the significant order backlog of more than 100K devices and data subscriptions for delivery in 2016. Earlier in the year TRAXENS closed a financing round with shipping giant CMA CGM and two major French banks, Crédit Agricole and BPPC Group, and was awarded 2M€ in the International Innovation Challenge.
“The shipping container has already transformed the world economy, the smart container is the missing link which is going to complete the digital transformation of the supply chain.” said Michel Fallah, TRAXENS CEO & Founder. “We are delighted to work with an investment fund like TERTIUM who specializes in rapidly maturing markets and has understood the huge immediate benefits for the entire manufacturing and retail industry.”
“The investment in TRAXENS fits perfectly into our target of supporting high potential companies in Provence” added TERTIUM’S President Pierre Grand-Dufay. “We have been impressed with the potent combination of innovative technology, IP portfolio, management strength, business model and industrial partnerships. The TRAXENS solution has the potential to establish a worldwide standard.”
Partner Florence Canonge will represent TERTIUM on the TRAXENS’ board.
TRAXENS uses breakthrough technology for cost effective data capture from multimodal containers coupled with Big Data techniques to deliver actionable information to the right people and the right time. This information allows stakeholders in multimodal transport to improve costs, optimize investment, and offer premium services. TRAXENS works with partners to establish standards to allow interoperability across the whole shipping industry.
TERTIUM is an investment fund based in the “French Silicon Valley” which manages funds from CEPAC (BPCE Group), AG2R La Mondiale, and more than 20 successful entrepreneurs from the PACA region (Provence-Alpes-Côte d’Azur) in the South of France. TERTIUM invests as a minority shareholder in regional companies with great international potential providing financial and active operational support through their network of experienced business leaders.
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