Shoshanna Solomon is The Times of Israel's Startups and Business reporter
Trax uses computer vision technology to scan shelves in stores and identify what is needed (Courtesy)
Trax, a startup that develops computer vision technology for retailers, said Wednesday it has secured $640 million in funding from investors including SoftBank Vision Fund 2 and technology-focused funds managed by existing investor BlackRock, Inc.
Existing investors OMERS, one of Canada’s largest pension plans, and Sony Innovation Fund by IGV also participated in the Series E financing round, the company said in a statement.
Trax has developed robots that use advanced hardware, computer vision and artificial intelligence to scan what is on the shelves and identify out of stock products for faster replenishment. The tech also allows users to find products in the store using their phone apps or special purpose machines on site.