Trax Technology Solutions Pte Ltd., a Singapore-based provider of in-store auditing and execution monitoring solutions for the consumer packaged goods (CPG) industry, received an additional US$2.5m in funds.
The company had already raised an institutional investment earlier this year (read here).
The company intends to use the funds to accelerate to further increase its investment in its core image recognition technologies. A new product offering is to be expected in early 2014.
Founded in 2010 and led by Joel Bar-El, CEO, Trax provides manufacturers and retailers with proprietary image recognition technologies, which captures, analyzes and reports on over shelf images. The company currently employs over 200 employees, with offices in APAC, Australia, Europe, USA and Latin America. Its R&D center is located in Israel.