Retail data startup Trax raises $640 million in funding round

Desy Papper

Trax, a startup that develops computer vision technology for retailers, said Wednesday it has secured $640 million in funding from investors including SoftBank Vision Fund 2 and technology-focused funds managed by existing investor BlackRock, Inc. Existing investors OMERS, one of Canada’s largest pension plans, and Sony Innovation Fund by IGV […]

Trax, a startup that develops computer vision technology for retailers, said Wednesday it has secured $640 million in funding from investors including SoftBank Vision Fund 2 and technology-focused funds managed by existing investor BlackRock, Inc.

Existing investors OMERS, one of Canada’s largest pension plans, and Sony Innovation Fund by IGV also participated in the Series E financing round, the company said in a statement.

Trax has developed robots that use advanced hardware, computer vision and artificial intelligence to scan what is on the shelves and identify out of stock products for faster replenishment. The tech also allows users to find products in the store using their phone apps or special purpose machines on site.

Get The Start-Up Israel’s Daily Start-Up by email and never miss our top stories

Free Sign Up

The robots navigate the stores’ aisles, monitoring products and producing images of different product categories several times per day. The data they collect is uploaded to a cloud and the images are analyzed. The store receives real-time information about consumer purchases in the store and storerooms are alerted about missing products. At the companies’ headquarters, managers can observe operations in real time and get insights into what products are selling best.

Trax co-founders Joel Bar-El and Dror Feldheim (Courtesy)

“We are witnessing the retail industry adopt digital technologies at an unprecedented pace and scale,” said Joel Bar-El, executive chairman and co-founder of Trax. “Despite the turbulence of 2020, we made tremendous strides in our business.”

Justin Behar, CEO of Trax, said that the firm will use the funds to expand its workforce, increase its marketing efforts to grow its business.

The Tel Aviv-based firm was founded in 2010 by Dror Feldheim and Bar-El.

Customers include Coca Cola, Nestle and Heineken, which use the technology to get shelf insights about their products in stores, and make sure that the shop shelves and the promotional displays match the agreements they have with retailers.

Supermarket chain Shufersal in Israel and Best Buy are among the retailers that use the technology to keep inventory and shelf availability at optimal levels, the company website says.

Trax has offices in the United States, Singapore and Israel, and serves customers in more than 90 countries.


I’m proud to work at The Times of Israel

I’ll tell you the truth: Life here in Israel isn’t always easy. But it’s full of beauty and meaning.

I’m proud to work at The Times of Israel alongside colleagues who pour their hearts into their work day in, day out, to capture the complexity of this extraordinary place.

I believe our reporting sets an important tone of honesty and decency that’s essential to understand what’s really happening in Israel. It takes a lot of time, commitment and hard work from our team to get this right.

Your support, through membership in The Times of Israel Community, enables us to continue our work. Would you join our Community today?

Thank you,

Sarah Tuttle Singer, New Media Editor


Join the Times of Israel Community


Join Our Community

Already a member? Sign in to stop seeing this


You’re serious. We appreciate that!

That’s why we come to work every day – to provide discerning readers like you with must-read coverage of Israel and the Jewish world.

So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.

For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.


Join Our Community


Join Our Community

Already a member? Sign in to stop seeing this

Next Post

Money Talks | Why you should start saving now

College graduation season is approaching, which means for many, it is time to develop good money habits. TEMPLE, Texas — College graduation season is approaching, which means many new graduates will enter the professional world. 6 News Anchor Kris Radcliffe said this is the perfect time to start making good […]