Singapore's AI-based Image Recognition Startup Trax Secures $100M Investment

Singapore's AI-based Image Recognition Startup Trax Secures $100M Investment Image Credit: Trax

Trax, a leading provider of computer vision and analytics solutions for retail, this week announced closure of a US$100 million Series D investment. 

The transaction was led by HOPU Investments, one of Asia's leading alternative asset managers, with a strong focus in the consumer and technology sectors.

Headquartered in Singapore, Trax is revolutionizing the retail industry by delivering a single source of shelf truth for Consumer Packaged Goods (CPG) companies and retailers. Trax provides in-store execution solutions, market measurement and analytics services for CPG brands and retailers by combining its proprietary fine-grained image recognition and machine learning with an IoT platform to turn photos of retail shelves into granular, actionable shelf and store-level insights.

The company is also engaged in numerous digital transformation projects with global retailers aimed at providing continuous shelf tracking through its software and wireless IoT camera system. Trax said it will use this latest round of funding to further support the global expansion of the company and accelerate mass-market deployment of its retail solutions.

Joel Bar-EI, CEO and Co-founder, Trax
Through its investment strategy and expansive network, HOPU has created a unique ecosystem of portfolio companies specifically in AI and more broadly across technology. 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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