Success story of TASS Vision: from bus sensors to AI-powered retail analytics

We are continuing our section where we provide information about the IT Park member companies. In a recent interview, we had the privilege of chatting with Shakhzod Umirzakov, the CEO and co-founder of TASS Vision, a startup on a mission to revolutionize the traditional retail industry using artificial intelligence and machine vision. Mr. Umirzakov shared insights into the company's origins, its strategic shifts, and the exciting plans for the future.

His journey began in an unexpected place - as a conductor collecting money and issuing tickets in buses during his primary school days. This seemingly unrelated experience planted the seed for his future endeavors. Faced with the challenge of cash mismanagement in the transportation system, Shakhzod and his team developed hardware with infrared sensors in 2018-2019. This innovative solution successfully counted passengers in over 85 buses across Uzbekistan, setting the stage for TASS Vision's inception.

Realizing the limitations of the bus transportation market, he narrated the pivotal moment when TASS Vision decided to pivot to the retail sector. The company shifted its focus from simple sensors to harnessing the power of AI and machine vision. This strategic move allowed TASS Vision to offer sophisticated in-store analytics tools for offline retailers, connecting with over a thousand stores across multiple countries.

Shakhzod's passion for global impact shines through as he discusses TASS Vision's ambitious plans for expansion. With an eye on 35 countries, including the MENA region, Eastern Europe, and the United States, the company's impressive financial metrics tell a story of success. Boasting an annual turnover exceeding $600,000, a remarkable gross margin of 96.8%, and a staggering growth rate of 500% year over year, TASS Vision is poised for international acclaim.

Right now they have more than 25 employees and contract-based PhD engineers from South Korea and China. He revealed that the company has raised approximately $1 million in funds. The impressive cap table includes contributions from diverse sources, with UzVC from Uzbekistan, Activat from Kazakhstan, and 500Global from the US among the notable investors. Additionally, TASS Vision has secured support from two business angel investors in Uzbekistan.

Shakhzod shed light on the challenges unique to Central Asia, emphasizing the importance of thinking globally while starting locally. He credited the vital support received from IT Park, including participation in seminars, webinars, and various accelerator programs. These initiatives not only facilitated rapid scaling but also resulted in substantial cost savings through tax preferences.

Speaking as an AI expert from Uzbekistan, Mr. Umirzakov offered insights into the future trajectory of artificial intelligence. Envisioning a world where AI optimizes workflows and enhances efficiency in every sector, he highlighted the current prevalence of weak AI. He pondered the potential impact of general AI, cautioning about the transformative power that could either lead to a better world or pose existential threats.

Looking forward, Shakhzod outlined TASS Vision's aspirations to become a global leader in AI-powered retail analytics. With expansion plans underway and a keen eye on emerging AI trends, he remains steadfast in his commitment to leveraging technology for a brighter future.