Trax Secures $50 Million in Funding to Revolutionize AI-Driven Merchandising and Image Recognition for Retail
BOSTON, Nov. 8, 2023 /PRNewswire-PRWeb/ -- Trax, the leading global provider of image recognition solutions transforming brick-and-mortar retail, today announces the completion of a $50 million venture debt investment from Deutsche Bank Private Credit & Infrastructure.
- BOSTON, Nov. 8, 2023 /PRNewswire-PRWeb/ -- Trax , the leading global provider of image recognition solutions transforming brick-and-mortar retail, today announces the completion of a $50 million venture debt investment from Deutsche Bank Private Credit & Infrastructure.
- This funding 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.
- Across its range of capabilities, Trax serves 32 of the top 50 CPG brands around the world on improving retail execution.
- "We are thrilled to partner with Deutsche Bank, one of the leading global banks," shared Justin Behar, CEO of Trax.