Trax, a retail “computer vision” platform, raised $125m in a funding round led by Boyu Capital en route to an IPO.
According to Bloomberg, Trax could go public in the next 18 to 24 months, with the new funding valuing them close to $1B.
The Singapore-based brick-and-mortar tracking startup uses image-capturing technology to digitize aisles, providing data and analytics on consumer packaged goods that sit on store shelves.
Trax got on its majority shareholder, private equity firm Warburg Pincus’, radar last year.
Now, Trax has 175 clients in 50 countries, and global consumer packaged goods giants, like Coca-Cola and Nestle, use their tech to keep a computerized eye on their shelves.
As companies like Alibaba, JD, Amazon, and Walmart race to digitize retail, this kind of tech is the backbone of the “cashierless” future.
Or as Alibaba’s Jack Ma puts it, the “new retail” strategy that he believes will either make or break retail brands in the years to come.