Trax Image Recognition, a Singapore-based provider of in-store shelf monitoring, analysis and technology powered by image recognition, raised US$15m investment from existing shareholders.
The company will use the funds to accelerate new product development and expand in geographic markets such as the US and Europe.
Led by Joel Bar-El, CEO, Trax is a software as a service (SaaS) company that provides image recognition technology and market data services to manufacturers who leverage iOS, Android and Windows smartphones and tablets to gain actionable retail analytics in real-time.
The company has over 175 clients, in 52 countries, serving top brands such as Coca-Cola, AB InBev, Nestle, Henkel, PepsiCo, and many more.
It has offices spread across Asia Pacific, Europe, Middle East, North America and South America.