Trax Secures $50 Million in Funding to Revolutionize AI-Driven Merchandising and Image Recognition for Retail
Summary
The venture debt investment comes from Deutsche Bank Private Credit & InfrastructureTrax, 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 Traxs investment in Signal-Based Merchandising, a dynamic new solution leveraging Traxs 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.Read More: Outreach Announces Artificial Intelligence Integration with Webex by CiscoWe 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.Traxs mission is to enable brands and retailers to harness the power of digital technologies to produce the best shopping experiences imaginable.psen@itechseries.com to learn more about our exclusive editorial packages and programs.