TechSee from Tel aviv announced the completion of $30 million equity investment round co-led by OurCrowd, Salesforce Ventures, and TELUS Ventures. Founded in 2015, the company has raised $54 million in funding to date. TechSee has developed a Computer Vision AI and Augmented Reality solution to assist makers and technicians in the “unboxing” and the installation of electrical and electronics products.
TechSee’s AI platform can automatically identify components, ports, cables, LED indicators, and more to detect issues and suggest resolutions, contact center agents, and field technicians. Via a simple tap of a screen, customers use their smartphone camera to show the virtual technician exactly what they see in their physical environment.
Using Deep Learning, the software (virtual technician) identify the product and visually guide the customer through the unboxing process using a suite of augmented reality tools, including Augmenting guidance for specific components, Tracking consumer and device movements to allow interactive guidance, Providing step-by-step instructions through the installation process and testing to verify the device works properly.
“Our vision is to get rid of the User Manual”
“There has been a significant increase in demand for contactless customer service technologies propelled by COVID-19 and the acceleration of digital transformation projects,” said Eitan Cohen, CEO of TechSee. “Our Visual Automation technology is at the heart of it. Our vision is to get rid of the user manual and replace it with dynamic AR assistants.”
TechSee recently announced a commercial partnership with Verizon to address this issue by bringing visual assistance to customers. It also established commercial partnerships with Vodafone, Orange, Liberty Global, Accenture, Hitachi, and Lavazza. The need to enhance the user’s product unboxing experience has brought many brands to showcase their product unboxing process using video.
In fact, YouTube reports an increase in product unboxing video views of 57% in one year, and an increase in uploads of more than 50%. These videos have more than a billion views annually. Google Consumer Survey underscores these statistics, with 20% of consumers (1 in 5) reporting that they’ve watched an unboxing video.