Trax is a Singapore-Israeli computer vision and retail intelligence company. Trax buys Planorama, its French rival, in a cash deal. It’s Trax’s third acquisition in less than a month, bringing a direct rival into its embrace. Yet, the did not announce the acquisition price.
Trax founded in 2010 by Joel Bar-El and Dror Feldheim. It develops technology for computer vision and data analysis for retail chains. The company’s software is capable of processing images in stores and producing business. Moreover, they also offer marketing information for consumer product manufacturers and retail chains. Trax’s customers include Coca Cola and Shufersal. The company’s headquarters are in Singapore. Meanwhile, its development center is in Israel with 250 employees. The number set to grow to 350 in the coming year.
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Trax is fresh from a $100 million Series D funding round that valued it at more than $1.1 billion. Feldheim, Trex’s founder, says that the financing round was designed to help finance three acquisitions in recent months. Besides Planorama, the company has bought, US company Shopkick (for $200 million one month ago), and Chinese company LenzTech.
Planorama develops an artificial intelligence image identification solutions for consumer, product manufacturers, and retail chains. Besides, it is one of the leading European companies in this niche.
The CEO mentions that Trax buys Planorama because the acquisition creates a dimension of value. First, they get a larger customer pool from the combined entity. Second, they also have a chance to offer a larger product to the market. Both companies have unique solutions the other doesn’t have. Thus, they can combine their service for a bigger product.
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Planorama
Planorama established in Paris in 2009 by Vincent Jacques. The company develops computer vision technology capable of identifying products. The product identification is based on images of shelves in physical stores.
The technology provides its customers with insights about their shopping patterns. These insights are designed to help in marketing, sales, and arranging products on shelves in order to maximize sales.
