trax

Even though the pandemic slowed the pace of exits in 2020, the rise of SPACs has piqued the interest of institutional investors in Southeast Asian tech firms.

Canadian defined benefit pension plan OMERS and Innovation Growth Ventures’ Sony Innovation Fund also joined the round.

With the acquisition, Trax will broaden its reach to consumer packaged goods.

The deal will help Trax to push real-time store monitoring and autonomous inventory management into mainstream adoption.

The Singapore-based company plans to use the new investment to further support its global expansion plans, among others.

“Bringing together shelf and shopper data will deliver new and powerful insights to consumer-packaged-goods brands and retailers,” said Trax’s CEO.

Investments in technology firms are in decline across Asia as a whole, but Southeast Asia is bucking the trend right now.

It’s the biggest investment in the image recognition firm to date, and makes Warburg its largest institutional shareholder.

These 10 companies defied the winter and stocked their war chests for the difficult road ahead.

It’s another month of dizzying growth for the tiny country.