Video analytics platform Wobot Intelligence has raised an undisclosed sum in its pre-Series A funding round from Sequoia India, as the company looks to expand its presence globally.
The startup’s technology connects to CCTV and other cameras to monitor process compliance while detecting anomalies in an organisation’s Standard Operating Procedures (SOPs). It offers video analytics for SOPs which include hygiene, safety, productivity, and customer experience to customers across industries.
The funding comes at a time when there has been an increased focus on hygiene and safety due to the ongoing Covid-19 pandemic. The market for CCTV installations is estimated to grow at a compound annual growth rate of around 11% year-on-year globally compared to pre-Covid-19 levels, according to the company.
Founded by Adit Chhabra, Tapan Dixit, and Tanay Dixit, Wobot will use the funds to strengthen its technology platform and team, besides making some key executive appointments, expanding its sales and marketing efforts and accelerating product development.
“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,” said Adit Chhabra, co-founder and CEO of Wobot.
With smarter video analytics solutions, Wobot said it is leveraging deep learning to achieve productive and automated monitoring. These solutions can be personalised and implemented across industries such as hospitality, manufacturing, pharma and retail among others.
Ashish Agrawal, Principal at 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.”