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SoftBank, BlackRock Lead $640 Million Funding for Startup Trax

  • Startup’s valuation said to surpass $3 billion after funding
  • Omers, Sony Innovation Fund by IGV join latest financing round
Photographer: Kiyoshi Ota/Bloomberg

Trax, a Singapore-based startup serving the retail industry, raised $640 million from investors led by SoftBank Vision Fund II and BlackRock Inc. to bankroll its global expansion.

New investors in the Series E financing included Ontario Municipal Employees Retirement System, one of Canada’s largest pension funds known as Omers, as well as Sony Innovation Fund by IGV, the startup said in a statement. The round valued Trax at more than $3 billion, according to people familiar with the matter, who asked not to be named because the information is private.