SPOT
SPOT
Transforming CCTV into actionable insights and smarter security.
Startup Snapshot:
Startup Name: SPOT
Industry: Video Analytics and Security Solutions
Business Model: Cloud-based platform for footage analytics
Founders: Julio Abrego (CEO), Julio Rivera (Head of AI), Gerardo Lopez (Head of Back-end), Camila Orantes (Head of People and Culture)
HQ Location: Santiago, Region Metropolitana, Chile
Founded: Jul 11, 2018
Stage: Seed
Investors: Start-Up Chile, Bridge Latam, Daedalus Ventures, FEMSA Ventures, Kuiper.
Website: https://www.spotcloud.io/
Crunchbase: https://www.crunchbase.com/organization/spot-f7f8
What does SPOT do?
Spot, founded by Julio Abrego, Julio Rivera, Gerardo Lopez and Camila Orantes, is revolutionizing asset protection and operational efficiency with its cutting-edge video analytics technology. Their cloud-based platform acts as a centralized hub, delivering crucial insights for asset protection and operational teams. Spot transforms standard CCTV footage into valuable, actionable data, leveraging the power of artificial intelligence and empowering businesses to make well-informed decisions.
They offer specialized solutions tailored for the retail, security, and warehouse industries, ensuring seamless integration with your existing camera systems. This compatibility allows businesses to enhance their infrastructure with Spot's advanced analytics capabilities without heavy investments in new hardware.
With Spot, companies can access customized data, enabling them to adopt proactive security measures and streamline operations effectively. This marks a significant leap forward in boosting productivity and securing assets, solidifying Spot's position as a leader in innovative security solutions.
Spot focuses on transforming existing cameras in supermarkets into advanced tools for detecting consumer behaviors and preventing thefts, this dual functionality of security and consumer behavior analysis is unique and provides significant added value to customers.
Julio Abrego, SPOT CEO
Why now?
The urgent need for innovative security solutions is underscored by the outdated camera technology prevalent in Latin America, leaving crucial gaps in security infrastructure. As retail shrinkage, encompassing theft, administrative errors, and supplier fraud, continues to plague industries, the National Retail Federation's staggering estimation of $95 billion in losses in the US alone in 2020, there is a pressing demand for modern, AI-driven solutions to streamline processes and mitigate losses effectively. Spot addresses this need with its cloud-based platform, transcending hardware limitations and offering retailers and warehouses a lifeline in fortifying security measures.
What sets SPOT apart?
Spot provides tailored solutions for the challenges encountered in emerging markets, particularly in Latin America. Their approach involves utilizing existing CCTV systems, thereby avoiding additional investments. With the help of advanced AI technology, they transform video footage into measurable and actionable data. This data leads to a 3-5% increase in sales, reduced theft, and improved productivity.
SPOT by the Numbers:
3-5%, the average uplift in sales where Spot is implemented.
30+ team members.
450+ Walmart locations where Spot operates.
2018, Spot was founded.
21,000+ OXXOs are integrating VisionX.
$2M USD in capital raised.
Key Takeaways:
Spot offers innovative cloud-based solutions addressing Latin America's urgent need for modern security systems.
Their solutions leverage existing CCTV infrastructure, avoiding additional investments for their customers.
With specialized offerings for retail stores and warehouses, Spot effectively addresses the unique security challenges encountered by businesses in the region.
Spot's solutions significantly enhance operational efficiency by leveraging AI-driven video analytics, reducing losses, and optimizing processes and sales.
VC Headlines
A reckoning is coming for emerging venture funds, and that, VCs say, is a good thing - Tech Crunch
InnovationRx: Deepmind Unveils Its New Protein-Folding AI Model AlphaFold 3 - Forbes
As AI use surges, tech companies race to secure clean energy and preserve climate goals - GeekWire
Internal Emails Reveal How a Controversial Gun-Detection AI System Found Its Way to NYC - Wired
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