Latham & Watkins Advises Trax in US$640 Million Series E Financing

Trax has announced that it secured US$640 million in a Series E financing round led by SoftBank Vision Fund 2 and technology-focused funds managed by existing investor BlackRock, Inc. This round of primary and secondary capital also saw participation from new investors including OMERS, one of Canada’s largest defined benefit pension plans, and Sony Innovation Fund by IGV.

The proceeds of the financing will support the development of Trax’s innovative cloud platform and image recognition technologies which are accelerating the digital transformation of consumer packaged goods companies and grocery retailers, as the physical and digital combine in new ways to bring meaningful experiences to shoppers.

Latham & Watkins LLP represented Trax in the transaction with a corporate deal team led by Hong Kong partner Amy Beckingham and Bay Area partner Tad Freese, supported by associates Bing Xi Sia and Vivian Yeung.