Smart Retail: Trax Closed $125 Million Investment Round
2 July, 2018
Trax turns images of retail shelves into actionable insights to enable measuring in-store execution and to create automatic inventory checks
Photo above: Robot with camera scans store shelves to build a digital version of the store
Computer Vision for retail becomes a lucrative market. Last example is Trax, an expert from Israel and Singapore, that announced today the completion of a US$125 million investment round led by Boyu Capital , one of the largest private equity investment firms in Greater China. DC Thomson, a leading media organization from the UK, also joined the investment round. Boyu Capital is a leading Greater China-focused private investment firm with offices in Hong Kong and Beijing. Founded in 2010, Trax plans to revolutionize the retail industry by delivering a single source of shelf truth for Consumer Packaged Goods (CPG) companies and retailers.
Trax turns images of retail shelves into actionable insights to enable manufacturers and retailers to measure in-store execution. Images of store shelves captured from Many source such as Mobile Apps, Fixed Cameras, Robots, Drones, smartphones, tablets and IoT devices. Then a Computer Vision algorithm and Deep Learning methods identify the objects on the shelves and fully recreates digital version of the shelves with every single SKU (e.g. Coca Cola 300ml) or object such as Price labels. The digitized shelf data is used to create automatic inventory checks and to analyze performance. Combined with survey responses, it can generate numeric measurements, scores and targets.
To date, the company has raised approximately US$235 million in total funding and operates in over 50 countries with more than 175 client engagements. In an alliance last year with Nielsen, Trax introduced Shelf Intelligence Suite, offering brands shelf insights to measure and improve their shelf strategy and execution. Joel Bar-El, Trax CEO and co-founder dasid that injection of funds from Boyu will allow the company “to drive continued innovation of our technologies at our computer vision center of excellence in Tel Aviv, Israel and to explore additional engineering center in China.”