Trax provides several services for manufacturers and retailers such as in-store execution, data analytics and market measurement. (Image credit: AVCJ)

Singapore tech startup Trax has secured US$100M Series D Investment

Faradita Prayusti
Business & Industry
Start Up
Jul 23, 2019
2457
Singapore-based retail tech startup providing computer vision and in-store analytics Trax announced its Series D funding round has raised US$100 M. The funding was led by a China-headquartered private equity company Hopu Investments.

With this latest funding round, the startup becomes the second Unicorn in Singapore after the ride-hailing company Grab.

Trax plans to expand its business worldwide and the company is also eyeing the biggest market China for its expansion.

Although the retail market in China has digitalized very quickly, numerous China’s brick-and-mortar stores are still lack of store management, selection, and optimization, according to the managing director of Hopu Investment Gunther Hamm.

Hopu Investment believes that Trax can expand swiftly in the biggest country’s consumer landscape, Hamm added.

According to the startup’s CEO and co-founder Joel Bar-El, Trax is currently also keeping an eye on an IPO in the U.S for the next 18-24 months since the company has raised over $350 million.

Trax provides several services for manufacturers and retailers such as in-store execution, data analytics as well as market measurement. The startup helps retailers of consumer goods to reduce the time for auditing inventory and others. With using AI computer vision technology, retailers can gather, measure and examine what is going on in physical shelves.

In advancing its technology, Trax does research and development in Israel.

Source: https://www.reuters.com/article/us-trax-funding/trax-gets-100-million-funding-becomes-singapores-second-unicorn-idUSKCN1UH1W3

Trax , Singapore , Startup , Retail