Trax

Trax is a retail technology company founded in 2010 in Singapore that applies computer vision, deep learning and machine learning to photographs of store shelves, coolers, displays and other on- and off-premise areas. Uploaded images are analyzed against a large SKU database to identify products and their placement, compare actual execution to planograms and KPIs, and generate metrics such as on-shelf availability, share of shelf, pricing and promotional compliance, distribution/void detection, and competitor SKU presence. A quality assurance team reviews recognition output, and the models improve as more images are processed.

Beyond image recognition, Trax has assembled adjacent capabilities: analytics and dashboards configurable to customer KPIs, in-store execution and merchandising services delivered through an on-demand workforce, and shopper engagement via the Shopkick rewards app acquired in 2019. Products introduced over time include an augmented reality solution for in-store execution (2017), Dynamic Merchandising (2020), the Trax Connector for Salesforce Consumer Goods Cloud on AppExchange (2023) and Signal-Based Merchandising (2024).

Trax and FORM have combined, with FORM positioned as the home of Trax IR: Trax's image recognition and reporting layer is paired with FORM's task management and workflow automation so field teams can prioritize actions, trigger tasks and resolve in-store issues during visits. Stated capabilities of the combined offering include automated price detection, faster SKU onboarding, photo stitching and editable planograms.

Founding story

Trax was founded in Singapore in 2010 by Joel Bar-El and Dror Feldheim, two Israelis who met by chance after moving to Singapore. Feldheim, whose background was in retail execution and private-equity investment in consumer brands, brought the idea of digitizing the physical shelf; Bar-El, a serial entrepreneur with a technology background, brought the technical solution. The initial concept targeted shopper marketing and gaze tracking through glasses, but after early feedback from a senior Procter & Gamble executive the founders refocused within days on share of shelf, planogram compliance and perfect-store conditions. The first product mixed automated components with manual image analysis, which also generated annotations used to train the recognition engine; the company began with roughly seven people, a small development team in Israel and initial funding from the founders and friends-and-family seed investors.

Business model

Trax sells software and services to consumer packaged goods manufacturers and retailers, combining an image recognition and analytics platform (cloud or on-device) with configurable dashboards and reporting, plus execution services delivered through an on-demand merchandising workforce and consumer engagement through the Shopkick app.

Traction

Wikipedia reports more than 150 retail and FMCG customers with services available in 45 markets. In May 2024 the founders described a business spanning 11 global offices, operations in over 80 countries and digitization of more than 3.5 million stores monthly, with approximately 680 employees after layoffs over the prior two years; the same article notes solutions delivered to customers in more than 90 countries. Recognition includes the 2024 A.I. Award for Best Use of AI in Retail and eCommerce and honoree status in the 2024 Inc. Power Partner Awards.

Latest developments

Trax and FORM have joined forces, with FORM presented as the new home of Trax IR and the combined platform pairing image recognition with task management and workflow automation. In 2025 Trax Limited announced the divestiture of its image recognition business to private equity firm Gemspring Capital, with remaining businesses continuing under Trax Ltd. Earlier, in January 2024, Trax secured $50 million in venture debt from Deutsche Bank Private Credit & Infrastructure to expand its Signal-Based Merchandising platform.