<article>Singapore-headquartered computer vision solutions and analytics firm <a href="https://www.dealstreetasia.com/?s=Trax">Trax</a> has raised $125 million in its largest investment round to date led by Chinese private equity firm <a href="https://www.dealstreetasia.com/?s=Boyu%20Capital">Boyu Capital</a>.</article>

Singapore-headquartered computer vision solutions and analytics firm <a href="https://www.dealstreetasia.com/?s=Trax">Trax</a> has raised $125 million in its largest investment round to date led by Chinese private equity firm <a href="https://www.dealstreetasia.com/?s=Boyu%20Capital">Boyu Capital</a>.
In a statement Monday, the <a href="https://www.dealstreetasia.com/?s=Warburg%20Pincus">Warburg Pincus</a>-backed tech firm said <a href="https://www.dealstreetasia.com/?s=DC%20Thomson">DC Thomson</a>, a UK-based media organization, also joined the investment round. Part of the proceeds will be used to buy some early investors&#8217; shares, it added.
The funding round comes as Trax considers an IPO in the US in the next 18 to 24 months.
In a Bloomberg interview, Chief Executive Officer Joel Bar-El said Trax is already in talks with both the Nasdaq and the New York Stock Exchange for its listing.
Trax is valued at close to $1 billion, he added.
Founded in 2010, Trax provides image recognition technology to consumer packaged goods (CPG) companies, including Coca-Cola and Henkel, and retailers. In addition, it builds proprietary retail database and analytics products.
Trax said it is also currently working with global retailers to provide continuous shelf tracking with wireless IoT cameras.
The company said it will use the latest round of funding to further support the global expansion of the company and accelerate mass-market deployment of its retail solutions.
“A core area of expansion will be Greater China, where Trax has already established a strong market presence serving major global brands,” according to a company announcement
The lead investor in this funding round, Boyu Capital, is a Greater China-focused private investment firm with offices in Hong Kong and Beijing. It provides growth capital and strategic support through long-term partnerships with entrepreneurs and enterprises.
“The injection of funds from Boyu will allow us to drive continued innovation of our technologies at our computer vision center of excellence in Tel Aviv, Israel and to explore establishing an additional engineering center in China,&#8221; said Bar-El.
In June 2017, Trax closed a $64-million funding round led by Warburg Pincus. It also secured a $19.5-million financing led by global specialist banking group Investec Bank in February last year.
Before that, it had raised a $40 million Series C in June 2016. Other backers include Broad Peak Investment Advisers, a hedge fund backed by Singapore’s state investment company Temasek Holdings.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/64368-64368/">Singapore image recognition player Trax raises $19.5m in round led by Investec Bank</a>

The company, which is considering an IPO in the next 18-24 months, is now valued at close to $1 billion, its CEO told Bloomberg.

Warburg-backed Trax raises $125m in Boyu Capital-led round

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Warburg-backed Trax raises $125m in Boyu Capital-led round

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