Trax, a Boston, MA-based global provider of image recognition solutions for retail, has secured a $50 million venture debt investment.
SaaS Investors
The investment was from Deutsche Bank Private Credit & Infrastructure.
The DB Private Credit and Infrastructure business (PCI) provides bespoke financing solutions to corporates, projects, and alternative investment managers using bank capital. PCI has a wide mandate to underwrite loan facilities including bridges, term and construction loans with a focus on middle market direct lending, digital and conventional infrastructure, venture debt, and fund finance.
Trax Use of Funds
The company will use the funding to accelerate its investment in Signal-Based Merchandising, a new solution leveraging computer vision, shopper audience, and crowd merchandising scale to enhance ROI for brands and retailers in retail execution.
About Trax
Founded in 2010, Trax is an AI retail startup with a mission to enable brands and retailers to harness the power of digital technologies to produce the best shopping experiences imaginable. Trax's retail platform allows customers to understand and improve what is happening on the shelf, in every store, all the time so they can focus on what they do best – delighting shoppers. It serves 32 of the top 50 CPG (consumer packaged goods) brands globally. Trax is a global company with hubs in the United States, Singapore, Israel, Hungary, Beijing, and Mexico.
Funding Details
Company: TRAX TECHNOLOGY SOLUTIONS PTE LTD.
Raised: $50.0M
Round: Venture Debt Funding
Funding Month: November 2023
Lead Investors: Deutsche Bank Private Credit & Infrastructure
Additional Investors:
Company Website: https://traxretail.com/
Software Category: Retail Management Solutions
Source: https://www.prweb.com/releases/trax-secures-50-million-in-funding-to-revolutionize-ai-driven-merchandising-and-image-recognition-for-retail-301980898.html