Apac
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    Networking

    PropTech

    Remote Work

    Scheduling Software

    Simulation

    Startup

    Storage

    Wireless

  • Banking

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Healthcare

    Insurance

    Legal

    Manufacturing

    Pharma and Life Science

    Retail

    Travel and Hospitality

  • CISCO

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Enterprise Architecture

    Enterprise Communications

    Enterprise Contract Management

    Field Service

    HR Technology

    IT Service Management

    Procurement

    Product Management

    RegTech

    Revenue Management

Menu
    • CISCO
    • Collaboration
    • Compliance
    • Contact Center
    • Healthcare
    • IT Service Management
    • Microsoft
    • Retail
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • News
    • Retail
    Editor's Pick (1 - 4 of 8)
    left
    AI becomes Personal

    Sherif Mityas, CIO & Chief Experience Officer, TGI Fridays

    Is Your Head in the Sand?

    Marc Kermisch, VP & CIO, Red Wing Shoe

    Laying a Foundation for the New-Age Retail Industry

    Paul Karras, SVP & CIO, Wilton Brands

    Driving a Performance Culture

    Paul Scorza, CIO, Ahold USA

    Discover the First Mile

    Ruben Martin, Co-Founder &CTO/ COO, Quivers

    The Missing Link for Retail: Closing the Loop between Point of Sale and Marketing

    David Inggs, CTO, VMob

    It all Comes Together in Retail.  In a World of Possibilities, Where to Start?

    Simon Kennedy, CIO, The Warehouse Group

    End to End Supply Chain Planning is the Need of the Hour

    Abel Correa, CIO, Arvind Lifestyle Brands Limited

    right

    Trax Retail Acquires AI-based Startup Qopius

    By Apac CIO Outlook | Tuesday, February 25, 2020
    Tweet

    After acquiring Qopius, Trax can push real-time store monitoring and autonomous inventory management into mainstream adoption, the company said in a statement

    FREMONT, CA: Trax, a Singapore-based retail tech unicorn, announced it has completed the process of acquisition of Qopius, a Paris-based in-store tech solution in Europe. After acquiring Qopius, Trax can push real-time store monitoring and autonomous inventory management into mainstream adoption, the company said in a statement. The company did not disclose any financial information related to the acquisition in the statement.

    "The key to retail success in the new decade is using technology to support employees. This means capturing critical shelf data in real time to enable employees to fix merchandising and availability issues faster than ever before," said Trax co-founder and CEO Joel Bar-El.

    Qopius, founded in 2015, is a hardware-agnostic computer vision platform that helps retailers increase productivity, measure shelf performance, and reduce out-of-stock scenarios. By using advanced technology for retail data integration and analytics, Qopius help managers and staff to reform the store operations and achieve higher scales.

    Qopius has a wide range of customers, including the current retailers like Casino, Carrefour, Metro, and MediaMarktSaturn Retail Group.

    Top Retail Technology Companies in APACThe combined platform of Trax and Qopius will be able to expand its reach within the retail grocery space by offering a holistic approach to improve the efficiency of store operations through always-on shelf monitoring.

    Trax said in the statement that the acquisition is made at a perfect time when the retail executives are focusing more on improving customer experience. A study conducted by Trax in association with retail research and advisory firm Coresight suggests 8 out of 10 executives believe that consistent in-store execution remains the biggest obstacle to customer satisfaction.

    Trax made a string of acquisitions last year, including Shopkick in the US, Planorama in Europe, and LenzTech in China preceding the Qopius deal.

    Trax also raised US$100 million in a Series D round in July last year, which was led by Chinese alternative asset manager Hopu Investments. Other investors in the funding were Warburg Pincus, Blackrock, GIC, and Boyu Capital. With this funding, the startup raised a total of US$360 million and is now valued at US$1.4 billion.

    See also: Top Retail Solution Companies

    tag

    Inventory Management

    inventory

    Financial

    Customer Experience

    Weekly Brief

    loading
    ON THE DECK

    Content Management System 2020

    Top Vendors

    Contactless Payments 2020

    Top Vendors

    Admired Tech 2020

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Four Security Issues in IoT

    Four Security Issues in IoT

    Four Use Cases of AR/VR Technology in Employee Training

    Four Use Cases of AR/VR Technology in Employee Training

    Five Major Trends in Digital Transformation for Businesses

    Five Major Trends in Digital Transformation for Businesses

    How Blockchain Reinvents Regtech

    How Blockchain Reinvents Regtech

    Five AI Technologies to Help Boost Business

    Five AI Technologies to Help Boost Business

    Popular E-Commerce Growth Trends in 2021

    Popular E-Commerce Growth Trends in 2021

    Loading...

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/trax-retail-acquires-aibased-startup-qopius-nwid-7341.html