Bengaluru-headquartered startup CamCom is in the process of setting up the first computer vision lab in the Middle East and Africa (MEA) region, said Ajith Nayar, Co-founder, CamCom.
CamCom — winner of the DSH Market Access Programme Q3 2020 conducted by the Dubai Chamber of Commerce — set up an office in DTEC and is moving the development of aircraft damage assessment and Unmanned Aerial Vehicle (UAVs) for public safety solutions to this proposed lab.
“We will work very closely with DTEC and DSOA to tap into the local talent pool to hire Emiratis to create solutions for the region. Towards the end of 2021 and early 2022, we will set up offices in Germany and the US. CamCom has entered into a strategic partnership with industry leaders in the region like WayPoint Systems, Vistas Global, Focus Engineering, QuantaRisk etc. to increase our footprint in the MEA region,” said Nayar.
Nayar recalls the startup was formed in 2017 along with two other cofounders Mahesh Subramanian and Umesh and today caters to popular brands like Bajaj Allianz, HDFC ERGO, SBI General, Quick Insure, and Myntra.
Why was CamCom started?
65 per cent of the products in the world are made from the base materials of metal, plastic, and glass. Defect/damage inspections on these products are human-intensive and therefore subjective, slow, and prone to error.
“We eliminate subjectivity and future proof the process. Our solution is the ultimate control tower that enables the creation of a visual track and trace audit trail across the life cycle of the product. It is a scalable platform built on a computer vision stack and easily deployed through bespoke, retrofit rigs and mobile devices," said Nayar.
CamCom currently caters to the automotive and warehousing industry. "We operate across the automotive spectrum from components manufacturing, OEMs, government inspection centres, service centres, insurance, car rentals, and used cars. We help create a complete visual audit trail across the life cycle of the automobile. In warehousing, our solutions have reduced returns because of wrong product shipment to 'zero' and offers immense non-linear scalability,” added Nayar.
CamCom has raised a pre-series A round of $1 million and is currently in the process of raising Series A round.
Geetha, director of engineering at CamCom said: “The excitement of starting on a new idea is infectious, be it the latest tech stack or the best infra required to take our models to next level. AI and ML can deliver both greater insights, automated narratives, and greater efficiencies in digital production and delivery. But even as technologies improve both efficiency and effectiveness, creating the right balance between digital transformation and human experience, between scale and skill, becomes key. At CamCom we enable clients to adopt end-to-end straight-through processing with precision and high speed. Our Clients over time have become our partners in our journey. We have multiple brainstorm sessions where we discuss and plan our next features together.” — firstname.lastname@example.org
The UAE, the company’s largest market, saw high growth in merchant payments processed from domestic consumers at 20 per cent year on year, and payments from international visitors growing 92 per cent
The company’s revenue increased 31 per cent to Dh1.041 billion as compared to Dh792 million in first half of 2021 while its operating costs dropped 16 per cent
Kashkari sticks to his view of 3.9% Fed funds rate at end-2022; Evans sees 3.4% policy rate this year; Both push back on market expectation for rate cuts next year; Inflation, employment data to determine size of Sept rate hike
Approval would save time, money on Asian routes; Q2 net profit $100m versus loss of $81m a year ago; Revenue up sharply, but still below Q2 in 2019
The five-year contract was awarded by Adnoc Offshore to Adnoc Logistics and Services (Adnoc L&S) and underpins the world-class capabilities within Adnoc’s group companies