ITOCHU Announces Capital and Business Alliance with Logistics Big Data Company Traxens
July 18, 2019
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that it has concluded an agreement with Traxens SA (headquartered in Marseille, France; Jacques Delort, Managing Director; hereinafter “Traxens”) regarding its equity participation in Traxens worth close to 20 million euro with other investors. Through this investment, ITOCHU and Traxens will jointly promote business development by utilizing Logistics Big Data in the global supply chain.
Founded in 2012, Traxens provides IoT tracking solutions to monitor real-time information for managing logistics assets anywhere in the global supply chain. Traxens’ innovative solution consists of its in-house developed IoT tracking devices and logistics data platform which enable to collect and digitalize multi-modal logistics asset data such as maritime containers, railways and trucks. Traxens’ solution will be equipped with 100,000 marine containers owned by two major shipping lines by early 2020. This number is set to grow even higher after Traxens announced in June 2019 that another major shipping line will become a shareholder and customer with an initial order for up to 50,000 marine containers.
Through this latest capital and business alliance with Traxens, ITOCHU will accelerate the sales of Traxens’ solutions in Japan and Asia. In addition, ITOCHU will work on creating new business model in the area of Logistics Big Data by combining Traxens’ logistics big data solution and the ITOCHU Group network and its business partners.
ITOCHU is announcing “Reinvention of Business” as its basic policy in the medium-term management Plan, and is working to evolve its business models and enhance the value of the Group’s value chains as a concerted effort. Through this partnership with Traxens, ITOCHU aims to create new value with the use of logistics big data.
Outline of Traxens
|Company Name||Traxens SA|
|Business Activities||Development and provision of supply chain monitoring solutions|