SoftBank co-leads $640m series E round of Singapore retail tech unicorn Trax

Singapore-based retail tech firm Trax said it has secured US$640 million in a financing round.

More funding details

• Lead investors: SoftBank Vision Fund 2 and technology-focused funds managed by BlackRock
• New investors: Canadian defined benefit pension plan OMERS and Sony Innovation Fund by Innovation Growth Ventures
• Stage: Series E

More company updates

• Trax plans to invest the new funds in expanding its team, scaling its retailer business, and driving long-term growth.
• Its retail cloud platform combines computer vision with internet-of-things hardware to provide companies with granular visibility of changing store conditions.
• With hubs in the US, Singapore, and Israel, Trax said it serves customers in over 90 countries.
• The latest investment comes after the company closed US$100 million in a series D round led by Hopu Investments in 2019.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.