Image Retail Analytics Company Trax Raising $100 Million at $1.1 Billion Valuation, Report Says

Israel-linked Trax Image Recognition is raising a $100 million round at a pre-funding valuation of $1.1 billion, Bloomberg reported Monday. The round, set to close by the end of June, is intended to finance three upcoming acquisitions Trax is looking to make, Bloomberg reported.The company is gearing up towards an initial public offering in the next two years, Bloomberg reported. In 2018, Trax CEO and co-founder Joel Bar-El told Calcalist that the company intends to go public in 2019.

Founded in 2012 and headquartered in Singapore with global offices in Israel, Asia-Pacific, Europe, and the Americas, Trax offers retailers image recognition and computer vision analytic tools. Among its customers are some of Coca Cola's anchor bottlers and Henkel AG & Company. In 2018, Trax raised $125 million a round led by Boyu Capital according to a company valuation of $850 million.