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UzVC invests $100,000 in startup project for the first time

TASS Vision, a developer of solutions for video analytics with AI, received funds from the fund.

The UzVC National Venture Fund, together with the British company Sturgeon Capital, financed the TASS Vision startup for $100,000.

This is the first startup with investments from UzVC, the message says. Business angel Bahrom Abdukadyrov also participates in the seed round. There are active negotiations on joining the round of other venture investors.

The TASS Vision startup was founded in 2019 and offers video analytics technology using artificial intelligence. The project team considers its mission to be the transformation of the retail industry and increase its efficiency.

Startup development includes the following areas:

  • Visitor Analytics – analysis of visitors by gender and age;
  • Face HR – fixing the arrival time of employees;
  • Customer Journey Map – tracking the route of customers to find the most “selling” locations in the store.

The project team includes more than 20 people, as well as programmers working remotely from China and South Korea.

Now the developers are focused on developing video analytics solutions and plan to add programs that can be automatically installed on cameras if desired. The information will be processed on the VPU chip of the device.

TASS Vision attracts investments at the seed stage. The funds raised will be used to develop the product, improve the quality of services and scale up to foreign markets.

UzVC and Sturgeon Capital announced the selection of startups for financing in March. Now the fund continues to consider previously submitted applications, as well as accept new applications.