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Wobot raises USD 2.5 million in pre-series A from Sequoia India

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New
Delhi, India, August 12, 2020 – Wobot Intelligence, an AI-powered video
analytics platform has raised pre-series A from Sequoia India recently. Wobot’s
tool connects to any existing CCTV or other forms of cameras and helps monitor
process compliance while detecting and tracking anomalies in an organization’s
Standard Operating Procedures (SOPs). It offers video analytics for SOPs which
include hygiene, safety, productivity, and customer experience to customers
across industries.

Wobot raises USD 2.5 million in pre-series A from Sequoia India

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.

 

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 is
resolving this big gap with ‘smarter video analytics solutions that leverage
deep learning to achieve more productive and automated monitoring. These
solutions can be personalized and implemented across industries such as
hospitality, manufacturing, pharma and retail among others.

 

Adit Chhabra, co-founder and CEO of Wobot
said, “Wobot’s vision has always been to create a transparent and seamless
workplace with 100% 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.”

 

The market for CCTV
installations was estimated to grow at a CAGR of around 11% YoY globally pre-Covid-19.
It will grow even 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”, he added.
 

 

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.”

TECHXLR8 Asia