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IQAX invests in BoxPlus, combines innovative technologies into powerful IoT solution IBOX Reefer

IBOX Reefer benefits from significant synergies between IQAX’s software platform and BoxPlus’s IoT hardware, accelerating innovation with an Internet of Things solution to support the fast-growing reefer market.

HONG KONG, Nov. 14, 2023 /PRNewswire/ — 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.

“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 Ms. Afra Guo, the General Managing Director at BoxPlus.

IBOX Reefer makes it possible to:

  • Capture pre-trip inspection (PTI) data and use AI and big data to save time, reduce errors, and cut costs by avoiding unnecessary PTI inspections.
  • Share reefer operational data and insights, predictive ETAs and real-time location data to provide true end-to-end visibility that can improve carrier customer experiences.
  • Enhance the security of high-value cargo with door open and smart alerts to avoid false alarms and allocate maintenance resources more effectively.

Learn more about the innovative IBOX Reefer solution here: https://www.iqax.com/en/solutions/smart-containers/

About IQAX

IQAX is a global information technology company that provides intelligent and digital transformation solutions using blockchain for enterprises in the logistics ecosystem. Backed by a strong heritage in container shipping, IQAX strives to foster a harmonized and connected global trade environment. As an industry leader, IQAX connects with shippers, freight forwarders, carriers, terminals, and financial institutions, and empowers them with digitized solutions to meet emerging business challenges throughout the supply chain. 

IQAX is an independent technology company wholly owned by Orient Overseas International Ltd. (HKEX:0316), which is in turn part of Orient Overseas Container Line (OOCL), one of the largest integrated international transport and logistics companies in the world.

About BoxPlus

BoxPlus is a professional Internet of Things (IoT) solutions provider established on December 30, 2019, and headquartered in Shanghai. Founding members are Sanlly Container Service Co., Ltd and Shanghai Maritime University and Oriental Equipment Services, Inc.

BoxPlus integrated the logistics industry element with information and communication technology, sensors and big data together to research and design the smart edge devices naming IBOX. There are IBOX Reefer, IBOX Vessel, IBOX Dry, IBOX Terminal and IBOX Inland to fit difference business scenario requirement. We offer an end-to-end intelligent IoT solution, from smart edge device, data platform, business application with artificial intelligence (AI) and services, consultancy for the customers in the containerized transportation industry.