Trax Image Recognition, a Singapore-based image recognition platform for retail, raised US$40m in Series C funding.
The company, which has raised a total of US$78m with existing shareholders, intends to use the funds to expand its global operations with a focus on North America, for product development and technical innovation.
Founded in 2010, Trax provides consumer good companies and retailers in over 40 countries with an image recognition platform to turn shelf images into real-time actionable insights to control performance gaps, identify category opportunities and increase revenue at all points of sale.
Led by Dror Feldheim, Chief Commercial Officer, and CEO Joel Bar-El, Trax serves top brands such as Coca-Cola, AB InBev, Heineken, Nestle and Henkel.
The company has over 220 global employees, 130 of which are based in the company’s R&D and Computer Vision Centre of Excellence in Tel Aviv, Israel. Trx also has offices across Asia Pacific, Europe, Middle East, North America and South America.
FinSMEs
09/06/2016