HOPU Investments leads major Trax funding round
Trax, a Singapore-headquartered provider of computer vision and analytics solutions for the retail sector, has closed a $100 million Series D round, valuing it at over $1.1 billion.
This was led by Asia’s HOPU Investments. Dror Feldheim, Trax Chief Commercial Officer and Co-founder, comments: “We have established an ecosystem anchored with deep CPG and retail industry collaboration and diverse partnerships. Our investment from HOPU will accelerate the development of our footprint in China and globally, and further position our market-ready retailer solutions to be deployed at scale.”
“We are thrilled to partner with Trax, a global leader in commercial applications of AI solutions for retail. It will only become more important as consumer goods manufacturers and retailers increase their usage of in-store data analytics. It is clearly becoming an essential component in the decision making and execution processes of major players within retail,” says HOPU’s Jacqueline Zhang.
Trax has now raised over $350 million in equity financing, counting Warburg Pincus as its largest shareholder, with other investors including Boyu Capital, Investec and GIC.