CMA CGM Enhances Investment in Startup TRAXENS
The CMA CGM Group has contributed to the TRAXENS startup capital increase. Two other investment funds – CAAP Création (Crédit Agricole Group) and S.C.R. Provençale et Corse (BPPC Group) – are also part of the initiative.
This capital increase will be dedicated to financing new research and development programs, as well as industrialization.
With 90% of the world’s commercial products being carried by sea, maritime transport is the main mode of transportation. CMA CGM, third largest shipping company in the world, carries over 12 million containers every year. The Group carries all types of products around the globe by sea, and by developing land and logistics solutions.
CMA CGM constant research for high-valued innovative solutions motivated the Group’s decision to reinforce its investment in the startup TRAXENS. With this cooperation, CMA CGM places itself as a precursor in the Big Data implementation in the transport field, and will offer its clients unique follow-up solutions and real time data collecting from all over the world.
Elie Zeenny Senior Vice President, Group IT Systems had this to say, "With this technology, CMA CGM brings the shipping industry into a new era. In a world where information is key, we are taking a significant step ahead. We will now be able to collect data in real-time, which is equally important to us and to our clients. Containers are becoming “connected devices”.
In 2015, TRAXENS will equip the first CMA CGM containers with this innovative patented technology. Now it will now be possible to know in real-time not only a container’s position, but also its temperature, the vibrations it will be subjected to, any attempted burglary, the presence of traces of specific substances in the air or even the regulatory status of the cargo
Michel Fallah, Founder and President of TRAXENS, "We are very grateful to CMA CGM for supporting us and bringing their expertise from the very beginning of the TRAXENS adventure. It allowed us to develop a high-valued and unique solution that is attractive to all transport companies and to reunite a group of solid and active shareholders which includes the investment arms of large national banks.""