Trax is a world leader in image recognition for retail. It provides leading technology & market data services to tier one manufacturers in over 45 countries around the world.
Trax offers best-in-class in-store execution tools, market measurement services and data science solutions that are fundamentally transforming how in-store retail data is being collected, viewed and analysed.
Trax was founded in 2010 by Dror Feldheim. The company is headquartered in Singapore, with offices throughout APAC, Europe, Middle East, North America and South America.
Trax reduces the time an employee needs to spend on audits to check inventory, shelf display and product promotions. It is also gathers more extensive data such as product assortment, shelf space, pricing, promotions, shelf location and arrangement of products on display.
Trax's computer vision technology is used by over 150 companies including FMCG companies such as Coca-Cola, ABInBev, Heineken, Nestle and Henkel and other retailers to collect, measure and analyse what is happening on physical shelves.
Trax is able to recognise products that are similar or identical such as branded drinks or shampoo bottles whilst also being able to differentiate between them based on variety and size. It piloted its machine learning algorithms with initial customers, allowing its algorithm to learn about different products. As the company processes more images, the better it gets at recognising the same products in different shapes and sizes. To date, Trax has recognized more than 8 billion images, and recognizes approximately 400,000 million new products per month.
Trax is backed by top-tier investors including Boyu Capital, Warburg Pincus, Investec, HOPU Investment Management Company, & Broad Peak Investment among others. The company raised $100M in it's latest funding of a "Private Equity" round on Jul 23, 2019. This brings Trax's total funding to $386.7M to-date.
Trax was valued at $1.1B during it's latest fundraising on Jul 23, 2019. The company has also acquired Quri, LenzTech & Shopkick to-date.
Trax ranked in the top 25 Fastest Growing Companies on Deloitte’s Technology Fast 500 list.