TRAX, a computer vision tech and in-store analytics firm backed by GIC, has bought Paris-based startup Qopius for an undisclosed amount – the latest in the unicorn's string of acquisitions as it looks to deepen its global footprint.
Qopius' computer vision platform helps retailers in Europe to monitor inventory on a large scale and uses retail data integration and analytics to streamline operations and achieve higher sales.
Customers of Qopius include Carrefour, French mass-market retail group Casino and German consumer electronics retailer MediaMarktSaturn Retail Group.
The acquisition gives Trax a leg-up in the grocery retail space, the company said. With the combined platforms, Trax intends to better serve grocery retailers by offering them a holistic, closed-loop approach to improving operational efficiency through real-time shelf monitoring.
Issues commonly faced by retailers include out-of-shelf or misplaced items, pricing errors and planogram non-compliance. A planogram is a detailed diagram of where specific products are placed in a store's layout.
"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 CEO and co-founder Joel Bar-El.
"Qopius' proven expertise in digitising supermarket shelves across Europe and phenomenal talent make it a strategic fit for Trax."
Trax made three acquisitions last year - Chinese artificial intelligence and big data service provider LenzTech, US-based shopping rewards app Shopkick, and European competitor Planorama.
The startup is valued at US$1.4 billion and has raised US$360 million from investors including Warburg Pincus, BlackRock and Boyu Capital.