Israeli AI retail startup, Trax, secured a $50 million venture debt investment from Deutsche Bank Private Credit & Infrastructure.
Trax, founded in 2010, empower brands and retailers to leverage digital technologies for optimal shopping experiences. Its platform enables clients to constantly monitor and improve in-store shelf conditions. The startup’s portfolio offering includes shelf monitoring, analytics, merchandising, activation, and shopper engagement solutions, extensively used by leading CPG companies, emerging brands, and retail giants
The debt investment will bolster Trax’s efforts in Signal-Based Merchandising, combining Trax’s computer vision technology with shopper audience insights and extensive crowd merchandising.
Trax serves 32 of the top 50 Consumer Packaged Goods (CPG) brands globally. Justin Behar, CEO of Trax, expects the startup to reach profitability for 2024.
In April 2021, Trax secured a $640 million Series E financing round at a valuation of $2.25 billion, led by SoftBank Vision Fund 2 and funds managed by BlackRock.
Deutsche Bank Private Credit and Infrastructure provides tailor-made financing solutions to corporates and alternative investment managers. It specializes in middle market direct lending, digital and conventional infrastructure, venture debt, and fund finance. They also underwrite various loan facilities, including bridges, term, and construction loans, leveraging bank capital to meet client needs.
