Mediterranean Shipping Company, a global shipping giant, has joined CMA CGM, one of the world’s largest ocean container carriers, in backing the French startup TRAXENS.

Founded in 2012, TRAXENS has been developing unique solutions for the cargo logistics arena, and has created an innovative container monitoring and coordination system. TRAXENS’ multimodal container monitoring and coordination system delivers data to achieve logistics excellence.

With a combined fleet of 4.5 million units these two world leaders transport approximately 25% of the world’s shipping containers.

The agreement has CMA CGM and MSC investing capital in TRAXENS, with each group also being represented on the board of directors.

The deployment of the TRAXENS devices across the fleets of both carriers will be announced in the fourth quarter of this year.

“We see container monitoring as an important innovation in providing our customers with a high quality of service, while also being able to monitor our outputs accurately,” said Diego Aponte, President and CEO of MSC. “We believe that shipping lines should naturally compete on service, but should cooperate in the area of technology and innovation.”

“We recognized the need for more and better data coming from our containers quite a while ago,” added Rodolphe Saadé, vice chairman of CMA CGM. “We are proud to have identified the potential of the TRAXENS solution early on. This is just a part of our global digital strategy.”

“Our solution was designed from day one to be a global solution for all containers and all companies,” said Michel Fallah, founder and CEO of TRAXENS. “This is an encouraging step towards setting a market standard.”