Hong Kong logistics technology company IQax has invested in Shanghai-based IoT provider BoxPlus to support the fast-growing reefer market.

IQax has become a shareholder in in BoxPlus to produce IBox Reefer, which combines IQax’s software with IoT devices and sensors developed by BoxPlus.

“The reefer market is growing rapidly,” said IQax CEO Romney Wong. “Carriers have a pressing need for innovative and powerful technology that can ensure their customers’ precious refrigerated cargo is protected throughout the shipping journey. 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 to the market and work with more carriers to ensure sensitive reefer cargo is protected.”

IBox Reefer ensures the optimal condition of reefer cargo throughout its journey, helping carriers cut operational costs and optimise resources, giving them increased visibility over the status of reefer cargo and boosting customer satisfaction.

Powered by artificial intelligence (AI) and big data, it 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.

It uses BoxPlus’s monitoring devices, which are compliant with the Container Owners Association UDM standard. These devices provide frequent updates and 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,” said Afra Guo, general managing director at BoxPlus. “With this, 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.”

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 PTIs. It can share reefer operational data and insights, predictive ETAs and real-time location data to provide end-to-end visibility that can improve carrier-customer experiences.

The security of high-value cargo can be enhanced with door open and smart alerts to avoid false alarms and allocate maintenance resources more effectively.

More information about IBox Reefer can be found here: www.iqax.com/en/solutions/smart-containers.