Insider Brief
- Trax, a leader in image recognition for retail, has secured a $50 million venture debt investment from Deutsche Bank to expand its Signal-Based Merchandising solution and drive higher ROI for brands and retailers.
- The company, which serves 32 of the top 50 CPG brands, is recognized by Deutsche Bank for its innovative retail execution services and is on a growth trajectory aiming for profitability in 2024.
- Trax specializes in using AI and computer vision to help brands and retailers optimize shelf management and shopper engagement, with a global presence and headquarters in multiple countries.
PRESS RELEASE — BOSTON/November 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. “This funding is recognition of the progress Trax is making to serve a broader set of CPG customers in new and valuable ways and supports our continued growth efforts and path to profitability in 2024.”
“Trax is leading the way in serving CPG companies globally on their most critical retail execution needs,” said Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending at Deutsche Bank. “We are proud to partner with Trax and support the next phase of their journey.”
To learn more about Trax, please visit http://www.traxretail.com
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About Trax
Trax’s mission is 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.
Many of the world’s top CPG companies, emerging brands, and retail leaders use Trax’s shelf monitoring, analytics, merchandising, activation, and shopper engagement solutions at scale to drive positive shopper experiences and unlock revenue opportunities at all points of sale.
As pioneers in computer vision, Trax continues to lead the industry in innovation and excellence through development of artificial intelligence-powered solutions, autonomous data collection methods, and on-demand merchandising capabilities. Trax is a global company with hubs in the United States, Singapore, Israel, Hungary, Beijing and Mexico. To learn more about Trax, visit http://www.traxretail.com.
About Deutsche Bank Private Credit & Infrastructure
The DB Private Credit and Infrastructure business (PCI) is Deutsche Bank’s longstanding US-based balance sheet lending platform. 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.
Media Contact
Trax Press, Trax, 775–848–8231, Trax@thekeypr.com
