Traxens, a Marseille, France-based smart container startup, received €1.5m in funding.
Venture fund Tertium made the investment. In conjunction with the funding, Partner Florence Canonge will represent Tertium on Traxens’ board.
The company intends to use the funds to for production ramp-upa and bring its solutions to market in 2016.
Led by Michel Fallah, CEO and Founder, Traxens provides a software and hardware cargo monitoring platform for containers and rolling stock. It leverages technology for data capture from multimodal containers along with Big Data techniques to deliver actionable information to the right people at the right time, this information then allowing stakeholders in multimodal transport to reduce costs, optimize investment, and offer customized services.
The company, which currently has 25 employees, earlier this year raised a round with shipping giant CMA CGM, Crédit Agricole and BPPC Group, and was awarded 2M€ in the International Innovation Challenge.