Another Successful Investment for Trax Technology Solutions – Trax

Another Successful Investment for Trax Technology Solutions

According to Joel Bar-El, Trax’ CEO “After the latest investment by Singapore’s leading private equity fund earlier this year, the company’s shareholders decided to boost their holdings with additional financing. This additional investment is indicative of the level of dedication and faith the stakeholders have in the company, its vision and growth opportunities.” It is important to note that according to the terms of the previous round, a potential cash infusion of approximately US$ 15M is still pending.

This financing will enable Trax to accelerate its already strong growth rate. The company has also decided to further increase its investment in its core image recognition technologies in order to ensure its continued leadership position in the market. Trax has announced that a new product offering is to be expected in early 2014. “Our new offering is expected to take our user experience to the next level, increase efficiency and provide additional time savings for the end users”, states Bar-El.

The company continues to partner globally on full scale production projects with several prominent tier-1 manufacturers. Trax image recognition solutions capture, analyze and report on over a million shelf images a month. Currently the company has projects running in 18 countries across 5 continents, and expansion plans are aggressive.

Related posts

by Fei Fei Ho

TRAX@FMCG in Russia 2015

Trax is a proud to return as a key sponsor of the FMCG in Russia event for the second…

Read more
by Neeta Nelson

Trax Secures $640 Million Funding Round Led by SoftBank Vision Fund 2 and BlackRock to Transform Retail Through Digital Technologies

Trax, a leading computer vision company transforming brick-and-mortar retail, has secured $640 million in a Series E financing round led by SoftBank Vision Fund 2[1] and technology-focused funds managed by existing investor BlackRock, Inc. This round of primary and secondary capital also saw participation from new investors including OMERS, one of Canada’s largest defined benefit pension plans, and Sony Innovation Fund by IGV.

Read more
Back to top