Uzbek startup TASS Vision has attracted €1.3 million in investments

The Czech fund Purple Ventures became the first Central European fund to invest in a startup from Uzbekistan.

TASS Vision develops AI cameras that help retailers track the customer's path in the store and evaluate how well displays and marketing are working. All data is processed directly on the device, without being sent to the cloud — which is important for customer privacy. The startup was founded by Shahzod Umirzakov and Jamshidjon Hakimjonov.

The company already operates in more than 2,000 stores across 10 countries and collaborates with hundreds of brands from various industries — electronics, fashion, FMCG, and pharmaceuticals.

The total investment round amounted to €1.3 million. Purple Ventures invested €500,000, while the rest was contributed by Domino VC, Pragma Tech VC, Sabah Fund, Caucasus VC, Big Sky Capital, IT Park VC, and angel investors Bakhrum Abdulkadirov and Akhrom Abduraimov, who supported the team two years ago.

Over two years, TASS Vision grew by 500% annually. Currently, they have R&D centers in Uzbekistan, South Korea, and China. The new investments will go toward developing the next generation of AI cameras, which will be 20 times faster and easier to install.

The company plans to expand into the Middle East, North Africa, and Central Eurasia markets. Their goal is to do for offline retail what Google Analytics did for online businesses.

Source: @umedschannel