Trax – a leading global provider of image recognition solutions transforming brick-and-mortar retail – recently announced the completion of a $50 million venture debt investment from Deutsche Bank Private Credit & Infrastructure.
This funding round accelerates Trax’s investment in Signal-Based Merchandising, a dynamic new solution leveraging Trax’s computer vision, shopper audience, and crowd merchandising scale to drive higher ROI for brands and retailers on their investment in retail execution. And across its range of capabilities, Trax serves 32 of the top 50 CPG brands worldwide in improving retail execution.
Trax’s goal is to enable brands and retailers to harness the power of digital technologies to produce the best shopping experiences imaginable. And Trax’s retail platform enables customers to understand and improve what is happening on the shelf, in every store, so they can focus on what they do best: delighting their shoppers.
Many of the world’s biggest CPG companies, emerging brands, and retail leaders use Trax’s shelf monitoring, analytics, merchandising, activation, and shopper engagement solutions at scale to drive positive shopper experiences and unlock revenue opportunities at all points of sale.
Trax continues leading the innovation industry by developing AI-powered solutions, autonomous data collection methods, and on-demand merchandising capabilities. Trax is a global company with hubs in the United States, Singapore, Israel, Hungary, Beijing, and Mexico.
KEY QUOTES:
“We are thrilled to partner with Deutsche Bank, one of the leading global banks. This funding is recognition of the progress Trax is making to serve a broader set of CPG customers in new and valuable ways and supports our continued growth efforts and path to profitability in 2024.”
– Justin Behar, CEO of Trax
“Trax is leading the way in serving CPG companies globally on their most critical retail execution needs. We are proud to partner with Trax and support the next phase of their journey.”
– Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending at Deutsche Bank
