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Trax gets $100 million funding, becomes Singapore’s second unicorn

Warburg Pincus-backed image recognition technology firm Trax, a startup that counts Heineken (HEIN.AS) and Nestle (NESN.S) among its clients, said it has raised $100 million (80.2 million pounds) in its latest funding round, becoming Singapore’s second unicorn.

The company is headquartered in Singapore, but does the majority of its research and development out of Israel.

Trax plans to use funds for acquisitions and to finance the tiny cameras it fits in customers’ stores to help track products.

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