The CMA CGM Group announced it would contribute to the capital increase for startup technology firm TRAXENS, which develops container monitoring, geo-location and multimodal coordination systems.

"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," said Elie Zeenny, CMA CGM’s senior vice president for group IT systems. "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.’"

The capital increase will be used to finance new research and development programs, as well as industrialization, according to the statement.

CMA CGM said two other investor groups — CAAP Création (Crédit Agricole Group) and S.C.R. Provençale et Corse (BPPC Group) — are also part of the initiative.

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