Trax makes another acquisition as Qopius deal closes
Singapore-headquartered computer vision and analytics solutions venture Trax has acquired Paris-based startup Qopius, which provides AI-based in-store solutions to the likes of Carrefour, Casino, Metro and MediaMarktSaturn.
Terms of the deal were not disclosed. It builds on three other recent acquisitions across as many continents: LenzTech in China (June 2019), Shopkick in the US (June 2019) and Planorama in Europe (July 2019).
“The key to retail success in the new decade is using technology to support employees. This means capturing critical shelf data in real-time to enable employees to fix merchandising and availability issues faster than ever before,” says Trax CEO and Co-founder Joel Bar-El.
“Qopius’ proven expertise in digitising supermarket shelves across Europe and phenomenal talent make it a strategic fit for Trax. We are truly excited to welcome Qopius to our family.”
Trax was founded in 2010 and has raised $360 million to date, valuing it at $1.4 billion.