How Singapore's second billion-dollar startup is revolutionising retail

With retailers facing the risk of up to US$1t in losses due to out-of-stock products, according to a study by IHL Group, retailers are in an ever challenging position to ensure that the products lining their shelves are stacked and positioned with pristine accuracy.

In July, the firm raised $137.5m in its latest funding round, propelling its valuation to as much as $1.3b and effectively sealing its status as Singapore’ second billion-dollar startup. The company aims to use the proceeds from the funding round to deepen its penetration through Trax Retail Watch, a product that enables retailers to install six cameras in a store.Joel Bar-El

The idea is that Trax means "to track a movement and pay attention". There are two founders. I come from a technological background and worked at standard digitism for many years before moving on to being an entrepreneur. The other co-founder, Dror Feldheim, came from a retail execution background. He came up with a business idea of what needs to be sold. He was working for many years for a private equity in Europe that's invested in a consumer brand.

You’ve made a string of acquisitions in the past years including Shopkick, a customer-tracking service app; LenzTech, a Beijing computer vision service provider. You are also reportedly in the works to buy another European competitor. What advantages do these acquisitions offer to Trax?Each one of them represented a different strategic value for the company.

Reports said that Trax is eyeing an initial public offering in the US within the next 18 to 24 months, although the company is also exploring the possibility of a dual listing in Singapore. Can you elaborate more on planned move? How do you plan to use the proceeds if ever and what are the advantages of this move?We can definitely confirm that we are planning to do an IPO in the US in the next 18 to 24 months. With regards to the potential listing, this is still under discussion.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore logistics start-up that helps brands sell online expanding to Vietnam and MalaysiaSINGAPORE - When consumers buy the popular Irvins salted egg snacks online the entire shopping experience is being managed by a local logistics start-up that is making the most of the e-commerce boom.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Doctor on trial for molesting patient during consultationSINGAPORE — A doctor is on trial for molesting a patient in a clinic two years ago.
Source: TODAYonline - 🏆 1. / 99 Read more »

2 arrested for importing, possessing counterfeit perfume, cosmetics worth S$800,000SINGAPORE: Two women were arrested for importing and possessing counterfeit perfume and cosmetic products worth more than S$800,000, Singapore ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Who is next in big pharma's merger spree?Consolidation in the U.S. healthcare industry, which has already witnessed a string of multi-billion dollar deals, is expected to remain a major ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Malaysia court postpones biggest 1MDB trial involving ex-PM NajibKUALA LUMPUR: A Malaysian court on Monday (Aug 19) postponed for a week the biggest of five trials linked to a multi-billion-dollar scam at state ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Singapore's RedDoorz raises US$70 million to target budget travellersSINGAPORE: Singapore's hotel booking and management platform RedDoorz has raised US$70 million in an ongoing funding round, its second this year, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »