Tango Eye AI Startup Story | AI Business Case Studies

Beware Tango Eye is watching you!

Well, not everywhere but the retail stores you are visiting might be doing it to analyze your every movement.

Artificial Intelligence-focused Startups like Tango Eye are making it possible with the help of computer vision.

Let’s get to know it more…

Tango Eye AI Startup Case Study

What’s Tango Eye ?👁️‍🗨️

Tango Eye is a next-generation Rev Op tool designed for offline retail transactions.

For those who don’t know ... Rev Op is short for Revenue Operations, which is a B2B function that uses automation to help teams make decisions responsible for business growth.

Rev Op brings together marketing, sales, service, customer success, and finance around three shared goals:

• Price for better conversion and margin
• Reduce revenue leakage
• Use customer data to identify new revenue opportunities.

So basically Tango Eye is a tool that claims to help offline retailers achieve these goals by using artificial intelligence and computer vision. 👀

Established in 2018, Tango Eye has Rapidly evolved to become a prominent cloud solution provider in the retail market.

The company was founded on the desire to give merchants precise and intelligent information.

Even today, most firms rely on manual clickers and other primitive methods of counting footfall.

Hardware-based solutions have yet to address some of the most pressing needs of retailers.

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All among this TangoEye has created a pure plug-and-play solution that fits into stores’ current CCTV equipment to deliver intelligent insights.

The startup has made it affordable, accurate, and actionable for merchants to see what their customers buy and compare how well they sell using it.

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Tango Eye provides actionable insights by leveraging AI and advanced real-time analytics.

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Retail Video Analytics SaaS products help retailers understand customer journeys, improve employee productivity, and enforce safety and security standards.

​Tango Eye Services

Let’s look at some of the services the Tango Eye offers as the next gen-AI startup: –

Tango Traffic: To enable companies to assess traffic and trace their customers’ in-store journeys precisely.

Tango Zone: Tango Zone provides Zone-specific traffic, demographic, and conversion statistics.

Tango RevOp: Identify every missed sale opportunity to capture the firm’s true revenue potential at each store. It will make the firm understand why a potential sale was lost and how to capture it in the future.

Tango StoreOps: To avoid blind spots, keep an eye on the condition of store’s video infrastructure. Tango StoreOps will monitor downtime so that the store or firm never misses a security event or loses data. From a single dashboard, the firm can monitor its store’s opening and closing timings.

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What’s next ?🔍

Recently Lenskart acquired Tango Eye for an undisclosed amount. Lenskart is an Eyewear brand from India with over 2000 retail stores worldwide.

So next time you visit a Lenskart store or any retail store just remember Tango Eye’s eyes might be on YOU 😉

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The Startup is constantly improving its product offers by including features like seamless checkout and end-to-end retail consumer profiling.

Tango Eye uses current retail IT infrastructure to give business insights without requiring any changes. Its solutions include features like footfall visibility, heatmap tracking of consumer activity, improving retail operations, and enhancing conversion rates.

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Market and Sales 📊

We have talked a lot about the tech and “potentials” but now let’s see where Tango Eye as a Startup stands in its numbers!

MarketsAndMarkets forecasts that the global video analytics market will have a 20.4 percent CAGR and a $14.9 billion worth by 2026.

Today, the firm employs 65 people in six countries and is recognized as one of the top companies in AI vision technologies for the retail market by SAP.io and NASSCOM.

Tango Eye’s quick growth is clear, as seen by its presence in over 3,000 stores and an Annual Recurring Revenue (ARR) of USD 3.4 million in 2021.

Well, that needs some applause!👏

Tango Eye’s direct sales technique includes outreach and targeted lists, as well as organic marketing and channel partners such as OEMs, consultants, and system integrators.

What is OEM?

In case you don’t know OEMs mean Original Equipment Manufacturer, which is a company that makes parts or products that are used by another company in its final products.

For example, an OEM may make computer chips that are sold to a laptop maker, who then assembles and sells the laptops.

The Team 🧠

Okay enough of the product preaching, now let’s talk a little about the amazing people behind Tango’s Eyes!

So Tango Eye was founded by Surender Gounder.

He is an engineer and entrepreneur who has worked in the fields of computer vision, machine learning, and robotics.

Yeah so now we can connect the dots… The founder has always been passionate about computer vision tech.

Surender Gounder has been named to BW Businessworld’s renowned ‘BW Retail World 40 under 40’ list.

He graduated with honors from the Boston University School of Management, where he majored in finance, accounting, and computer science.

​Conclusion

So that’s it for this startup story !

Gounder and Tango Eye’s incredible journey demonstrates the retail industry’s dedication to embracing AI vision technologies to promote innovation and success.

Do you know any other AI startup that is revolutionizing the Retail industry? Let me know in the comments … I will add that in our next social media post!

Hope you enjoyed it!

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FAQ : Tango Eye AI Startup