“HOPU is thrilled to partner with Trax, a global leader in commercial applications of AI solutions for retail,” said HOPU’s Jacqueline Zhang in a press release. “Trax will only become more important as consumer goods manufacturers and retailers increase their usage of in-store data analytics. Trax is clearly becoming an essential component in the decision making and execution processes of major players within retail.”
Trax originally began as a way to balance the precise data of online shopping with the familiarity and convenience of browsing an actual shelf. With its SaaS-driven solution to in-store displays, retailers can start designing product layouts based on factors most likely to induce sales, simply by snapping a picture of a shelf and waiting for Trax to crunch the numbers on how it could be improved.
“Through its investment strategy and expansive network, HOPU has created a unique ecosystem of portfolio companies specifically in AI and more broadly across technology,” said Joel Bar-El, Trax CEO and co-founder. “We look forward to working with HOPU and their portfolio companies, as well as the many leading consumer and retail companies within their network. This injection of funds from HOPU will further accelerate our innovation and further our efforts to deliver an outstanding customer experience.”
Dror Feldheim, Trax chief commercial officer and co-founder added, “Trax has established an ecosystem anchored with deep CPG and retail industry collaboration and diverse partnerships. Our investment from HOPU will accelerate the development of our footprint in China and globally, and further position our market-ready retailer solutions to be deployed at scale.”
Trax has raised over $350 million in financing to date, and it operates in over 50 countries with more than 175 client engagements.