Spot Technologies, an El Salvador-based AI startup based in El Salvador, has raised $2 million in funding.
SaaS Investors
Femsa Ventures, Bridge Latam, Daedalus, Kuiper, and Casque participated in the round.
Spot Technologies Use of Funds
The company will use the funding to invest in the development of VisionX 2.0, scheduled for launch this year. It will include detecting minor thefts, thefts in self-checkout areas, violent actions, and analysis of shopping patterns.
About Spot Technologies
Founded in 2018 by Julio Abrego, Spot Technologies focuses on developing cloud technology that transforms cameras in retail and logistics locations into an intelligent system for behavior analysis and security. The company provides Video Analytics as a Service to turn any surveillance video into data and actions that automate operations. Its flagship product, VisionX, uses deep learning and computer vision technologies to analyze consumer and theft behaviors, providing capabilities such as gender and age analysis, people counting, detection in undesignated areas, and identification of crowd formations.
Funding Details
Company: SPOT Technologies, Inc.
Raised: $2.0M
Round: Unknown
Funding Month: January 2024
Lead Investors:
Additional Investors: Femsa Ventures, Bridge Latam, Daedalus, Kuiper, and Casque
Company Website: https://www.spotcloud.io/
Software Category: Video Analytics
Source: https://techcrunch.com/2024/01/15/spot-technologies-2m-retail-ai-security-tech-walmart/