Tertium injects €1.5m into Traxens

Tertium did not reveal the stake it secured in Traxens, but reports in the French press stated the firm became a minority shareholder alongside a number of existing investors.

Meanwhile, the company's founders retained their majority stake after the round, according to these same sources.

The capital injection comes months after Traxens raised funds from corporate CMA-CGM and the VC arms of BPPC and Crédit Agricole. Along with the €2m it reaped at a recent innovation awards, the funds raised will finance the manufacture of 100,000 container geolocalisation devices, to be fully operative in 2016.

In addition, the capital will be reportedly spent in enlarging the workforce, with plans to hit the 50 employees mark next year.

Company
Founded in 2012, Traxens develops monitoring and geolocalisation technologies that facilitate the mass deployment of containers. With headquarters in Marseille, the company currently employs 25 people. While its revenues remain undisclosed, Tertium typically seeks businesses that have surpassed the €5m revenue mark.

People
CEO Pierre Grand-Dufay and partner Florence Canonge led the deal on behalf of Tertium; Canonge will join Traxens' board. Michel Fallah founded Traxens and is the company's current CEO. 

Advisers
Equity – R2B, Renaud de Blegiers (Legal); EY, Xavier Senent (Financial due diligence).
Company – Akheos, Alexandra Behar (Legal).

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