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    Video analytics platform Wobot Intelligence raises $2.5 million in pre-series A from Sequoia India

    Video analytics platform Wobot Intelligence raises $2.5 million in pre-series A from Sequoia India

    Video analytics platform Wobot Intelligence raises $2.5 million in pre-series A from Sequoia India
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    By Palak Agarwal   IST (Published)

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    Wobot Intelligence, an AI-powered video analytics platform, has raised pre-series A from venture capital firm Sequoia Capital India. T

    Wobot Intelligence, an AI-powered video analytics platform, has raised pre-series A from venture capital firm Sequoia Capital India. The AI-powered computer vision technology for CCTVs make monitoring of Standard Operating Procedures (SOPs) productive and automated for users across sectors.
    Founded by Adit Chhabra, Tapan Dixit and Tanay Dixit, Wobot will use the funds for global expansion and strengthening its proprietary technology platform. It will also help the company make some key executive appointments, expand its sales and marketing efforts as well as broaden and accelerate product development to cater to more use cases and customers
    Adit Chhabra, co-founder and chief executive officer Wobot said, "Wobot's vision has always been to create a transparent and seamless workplace with 100 percent process compliance where the camera acts as a third eye and provides continuous feedback for employees on the job. This does not necessarily mean only pointing out violations but also giving a pat on the back for following the right SOPs and adhering to compliances."
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    CCTVs are common in factories, restaurants, workplaces, and several other sectors but are monitored ineffectively by humans in a big control room with multiple monitors. The vast amount of this data is unused and does not give any meaningful or actionable insight.
    Wobot claims to resolve this big gap with ‘smarter video analytics solutions that leverage deep learning to achieve more productive and automated monitoring. These solutions can be personalised and implemented across industries such as hospitality, manufacturing, pharma and retail among others.
    The market for CCTV installations was estimated to grow at a CAGR of around 11 percent YoY globally pre-COVID-19, according to Wobot. The company expects the market to grow faster in the post-COVID-19 era.
    "COVID-19 era has made businesses realise the value proposition of remote monitoring. Pre COVID-19, hygiene and safety of the workforce was a good-to-have now, it is a must have and companies are appreciating the importance of automation. For any future business continuity plans, video analytics will play a huge role and Wobot is well-positioned to take advantage of this opportunity," Chhabra added.
    Ashish Agrawal, principal, Sequoia Capital India said, "Computer vision has seen tremendous advances in recent years, resulting in widespread adoption for varied enterprise needs. This includes process compliance in areas such as security, manufacturing, and retail. Increased concern for hygiene and safety post COVID-19 has heightened the importance of process compliance. Sequoia India is excited to partner with the Wobot team as they build a global SaaS business serving this enterprise need."
    Wobot has completed 10,000+ installations for customers including Kitopi, CultFit, Rebel Foods, Travel Food Services, EatFit, Blue Tokai, Apparel Group, Max Estates & Housing and more. In 2018, the Indian Railway Catering and Tourism Corporation (IRCTC) signed up with Wobot to monitor the food production process across its several base kitchens. Subsequently Wobot intelligence raised a seed round of funding from Titan Capital too.
    With existing clients in Middle East and South East Asia, Wobot plans to expand its presence in the region going forward. It also plans to foray into the US market as well as introduce more use cases for the healthcare and manufacturing.
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