[Funding alert] Video analytics platform Wobot raises $2.5M in pre-Series A round led by Sequoia India
The company said that Wobot will use the funds for global expansion and to strengthen its proprietary technology platform.
Delhi-based AI-powered video analytics platformhas today announced that it has raised $2.5 million in pre-Series A round led by Sequoia India.
The company said that Wobot will use the funds for global expansion and to strengthen 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.
Founded by Adit Chhabra, Tapan Dixit, and Tanay Dixit, Wobot.ai currently offers various modules that look into hygiene, food safety, pilferage, and customer experience. Its plug-and-play tool is connected to an existing CCTV or any other camera to help detect and track anomalies in standard operating procedures (SOPs). It has helped organisations in food, hospitality, manufacturing, retail, and pharma industries to reduce the cost of monitoring, risk of non-compliance, and improve customer NPS.
Adit Chhabra, Co-founder and CEO of 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."
Earlier in April 2019, the startup raised an undisclosed amount in the seed round of funding from Titan Capital.
Speaking about the recent investment, Ashish Agrawal, Principal, Sequoia Capital India LLP, 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 is a robust team of 60+ employees and has completed 10,000+ installations for customers including, CultFit, Rebel Foods, Travel Food Services, EatFit, , Apparel Group, Max Estates and Housing and more.
Edited by Kanishk Singh