Trax acquires image recognition firm
Written by Peter Walker
Retail computer vision and analytics business Trax has acquired retail image recognition services firm Planorama.
Trax’s in-store execution solutions, market measurement and analytics services are powered by proprietary image recognition and machine learning technology, turning photos of retail shelves into actionable shelf and store-level insights.
Planorama leverages deep learning-based image recognition to offer a full range of retail-centric solutions to build merchandising recommendations, monitor point of sale compliance and learn from shelf insights.
Planorama is the latest company to join the Trax family, following China’s artificial intelligence service provider LenzTech and US-based shopping rewards app Shopkick.
“Over the years, Trax has redefined the retail industry with its purpose-built solutions and services and CPG expertise,” said Dror Feldheim, chief commercial officer and co-founder at Trax. “Joining forces with Planorama, we will deliver a holistic, closed-loop approach to solving the most pervasive and systemic issues facing retail today.”
Earlier this month, Singapore-based Trax closed a $100 million Series D investment led by HOPU Investments, one of Asia’s leading alternative asset managers.