IQAX Ltd., an innovative developer of technology solutions for shipping and logistics based in Hong Kong, announced an investment into BoxPlus Information Technology Company Ltd., a provider of Internet of Things (IoT) solutions, as part of an effort to support the fast-growing reefer market with IBOX Reefer.
IQAX invested in BoxPlus, becoming a shareholder in the Shanghai-based developer of container shipping IoT devices naming IBOX. IBOX Reefer combines IQAX’s innovative software capabilities with IoT devices and sensors developed by BoxPlus, as per the statement.
“The reefer market is growing rapidly. Carriers have a pressing need for innovative and powerful technology solutions that can ensure their customers’ precious refrigerated cargo is protected throughout the shipping journey,” said IQAX CEO Romney Wong. “IBOX Reefer allows carriers to lower risks, cut costs, generate value and access tangible benefits from state-of-the-art software and IoT technology.”
“We are very pleased to have invested in and worked together with BoxPlus to bring this solution to the market and work with more carriers to ensure sensitive reefer cargo is protected,” said Wong.
IBOX Reefer ensures the optimal condition of reefer cargo throughout its journey, helping carriers cut operational costs and optimize resources, giving them increased visibility over the status of reefer cargo and boosting customer satisfaction.
Powered by artificial intelligence (AI) and big data, the solution integrates data collected from IoT devices in containers with shipment data to generate granular end-to-end visibility for reefer shipments. IBOX Reefer can intelligently analyse container use and maintenance history, and identify issues that could negatively impact the reefer shipping process.
The solution uses BoxPlus’s sophisticated monitoring devices, which are compliant with the Container Owners Association UDM standard. These devices provide frequent updates, stable performance and have a long battery life, ensuring end-to-end global monitoring.
“Our IBOX devices are developed with cutting-edge technology and combine with IQAX’s software innovations into a plug and play solution for container shipped cargo. With this solution, BoxPlus will provide the market with a state-of-the-art product that can create significant value for end users in an efficient way in the rapidly growing smart container sector,” said Afra Guo, the General Managing Director at BoxPlus.
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