Trax, a Boston, MA-based provider of image recognition solutions for brick-and-mortar retail, raised $50M in financing.
Deutsche Bank Private Credit & Infrastructure provided the financing.
The company intends to use the funds to accelerate its investment in signal-based merchandising, a dynamic solution leveraging its computer vision, shopper audience and crowd merchandising scale to drive higher ROI for brands and retailers on their investment in retail execution.
Led by CEO Justin Behar, Trax provides a retail platform that allows customers to understand and improve what is happening on the shelf. The company continues its work through development of artificial intelligence-powered solutions, autonomous data collection methods, and on-demand merchandising capabilities. Trax has hubs in the United States, Singapore, Israel, Hungary, Beijing and Mexico.