What started on the steps of a synagogue in Singapore over a decade ago is now reportedly reportedly DealStreetAsia Trax focused on traditional listing in US market after raising $640 in pre-IPO round Read more a US$2 billion business. Computer vision and analytics startup Trax got a US$640 million Series E funding led by SoftBank and existing investor BlackRock last month. The latest round, remarkably, is more than 2x the money the company has raised since its founding in 2010.
Slicing both sides
Middleman Trax scoops up the cash in the retailer vs brand match
Trax is one of Southeast Asia’s lesser-known unicorns, situated in the unexciting world of B2B tech. But its middle player position plus reach beyond Singapore—US, Europe, China, and even Israel—is proving to be quite the sweet spot
B2B unicorns aren't too common in Southeast Asia, let alone ones that serve beyond the region
Brands and retailers are locked in indirect conflict, tussling over data and execution; Trax helps mediate
Being in B2B equals larger contracts and stickiness to customers, meaning a long tail recurring revenue
Based in Singapore, Trax can make its operations global without getting in the crossfire between China and the West