Warburg Pincus-Backed Trax raises $ 125 million in pre-IPO funding

Trax, a Singapore-based start-up that serves the retail sector, raised $ 125 million as part of a tour de table led by Boyu Capital under the umbrella of "The Private Sector." an initial public offering for savings. The company is already in talks with the Nasdaq and the New York Stock Exchange, said managing director Joel Bar-El in an interview. Trax is estimated at nearly a billion dollars, he said.

Trax's image recognition technology is used by Coca-Cola Co. and Nestle SA, to track their products on the shelves of retailers. The company currently has 175 clients in 50 countries and counts the private equity firm Warburg Pincus as its largest shareholder.

Trax arrives on the Warburg Pincus radar after team members continued to hear the company's name, said the Director of Southeast Asia, Jeffrey Perlman. It was a similar story to Boyu, a private equity firm founded by a grandson of former Chinese leader Jiang Zemin. "19659002" We were impressed by the wide recognition of Trax's one stop solutions. Joey Chen said. "We believe that Trax is best positioned to help customers in China navigate the digital transformation."

Bar-El founded Trax eight years ago after a chance meeting in Singapore with Dror Feldheim, now commercial director of the company. Bar-El finally wants to make Trax a Google Maps engine for retail stores.

"Once we start deploying these cameras en mbade, soon after, consumers will have access to them," he said. "I estimate in the next two to three years."

– With the help of Joyce Koh