Trax, a Singapore-based computer vision company for brick-and-mortar retail, secured $640m in Series E primary and secondary financing.
The round led by SoftBank Vision Fund 2 and technology-focused funds managed by existing investor BlackRock, Inc., with participation from new investors including OMERS and Sony Innovation Fund by IGV.
The company intends to use the funds to invest in the team, extend its market leadership, and continue to scale its retailer business.
Led by Joel Bar-El, executive chairman and co-founder, and Justin Behar, CEO, Trax provides brands and retailers with proprietary computer vision, advanced Internet of things hardware, on-demand workforce, and shopper technologies to produce the best shopping experience. Its retail platform allows customers to understand what is happening on shelf, in every store, all the time so they can focus on improving the experience of shoppers. Many of the world’s top CPG companies and retailers use the company’s dynamic merchandising, in-store execution, shopper engagement, market measurement, analytics, and shelf monitoring solutions.
Trax is a global company with hubs in the United States, Singapore and Israel, serving customers in more than 90 countries worldwide.