June 8, 2016 | Israeli retail image recognition company Trax has raised $40 million in a Series C round from existing shareholders to support the growth, new product development and technical innovation of the company. Trax turns shelf images into real-time actionable insights by delivering a unique image recognition platform for the retail industry. Recognizing over 8 million images (with more than 1 million store visits) every month, Trax provides the highest accuracy of data, intelligence, insights and recommendations to consumer good companies and retailers in over 40 countries. Trax will use its latest round of investment, which is its largest to date, to expand its global operations with a focus in North America and a new product line for top tier retailers. Headquartered in Singapore, Trax has over 220 employees worldwide, 130 of whom are based in the company’s R&D and Computer Vision Centre of Excellence in Tel Aviv.