Trax Image Recognition for retail, based in Singapore and Israel, raised $40 million in a Series C round from existing shareholders, its largest to date. The company will use the funds to expand its global operations with a focus in North America and a new product line for top-tier retailers. Trax uses image recognition to turn photos of retail store shelves into insights. The company claims that its clients include top brands such as Coca-Cola, AB InBev, Heineken, Nestle and Henkel. It also says that they are recognizing over 8 million images (with more than 1 million store visits) every month.
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