SFTBY - SoftBank and BlackRock lead $640M round for retail tech startup Trax

SoftBank ([[SFTBF]],[[SFTBY]]) Vision Fund 2 and BlackRock led the $640M funding round for retail-focused computer vision company Trax.The Trax platform provides consumer packaged goods companies and grocery retailers with granular visibility into rapidly changing store conditions to make data-driven decisions and take corrective measures.In the past year, Trax released a suite of autonomous shelf-monitoring solutions and a dynamic merchandising solution."Through its innovative AI platform and image recognition technologies, we believe Trax is optimizing retail stores by enabling CPG brands and retailers to execute better inventory strategies using data and analytics,” says SoftBank Investment Advisers director Chris Lee. “We are excited to partner with the Trax team to help expand their product offerings and enter new markets.”Related: Earlier this week, SoftBank Vision Fund 2 led the $300M round for Indian social commerce startup Meesho.

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SoftBank and BlackRock lead $640M round for retail tech startup Trax