Latham advised Trax on the deal.
Trax is the leading provider of computer vision and analytics solutions for retail.
Headquartered in Singapore, Trax is revolutionizing the retail industry by delivering a single source of shelf truth for Consumer Packaged Goods (CPG) companies and retailers. Trax provides in-store execution solutions, market measurement and analytics services for CPG brands and retailers by combining its proprietary fine-grained image recognition and machine learning with an IoT platform to turn photos of retail shelves into granular, actionable shelf and store-level insights.
The company is also engaged in numerous digital transformation projects with global retailers aimed at providing continuous shelf tracking through its software and wireless IoT camera system.
Trax will use this latest round of funding to further support the global expansion of the company and accelerate mass-market deployment of its retail solutions.
The transaction was led by HOPU Investments, one of Asia’s leading alternative asset managers, with a strong focus in the consumer and technology sectors.
To date, Trax has raised over US$350 million in equity financing and operates in over 50 countries with more than 175 client engagements.
Latham & Watkins corporate team led by Hong Kong partner Amy Beckingham, with associates Zhonghua Shi and Bing Xi Sia, advised Trax, assisting Trax’s General Counsel Adi Oxland.
Law Firms: Latham & Watkins;
Clients: Trax Technology Solutions PTE Ltd.;