Ashurst advises Itochu Corporation on its investment in Traxens
23 July 2019
International law firm Ashurst advised Itochu Corporation on its investment in Traxens, through a C-Series fundraising of nearly €20 million in which Bpifrance (through the PSIM managed fund), Supernova, Invest (through the Crédit Agricole Innovations and Territories managed fund) and FCPI Amundi Avenir Innovation also participated.
The financing will enable Traxens, a French company specialising in providing high-value data and services for the supply chain industry, to launch a global large-scale sea-land fleet of Internet-of-Things tracking solutions on vessels operated by its partner shipping companies. 100,000 containers (both dry and reefer containers) should be equipped with its innovative "Internet-of-Things" solution by the end of 2020, making Traxens one of the leading players in the smart objects industry for intelligent 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.
Itochu Corporation, a Japanese import-export conglomerate listed on the Tokyo Stock Exchange, is today one of the largest Sogo Shosha trading companies, with 110 bases in 63 countries.
The Ashurst team was led by corporate/M&A partner Anne Reffay.
