Agrima Infotech: A Deep Tech Startup Revolutionizing Retail with AI

Agrima Infotech: A Deep Tech Startup Revolutionizing Retail with AI – Retail is one of the largest and most dynamic sectors in the world, with a global market size of over $25 trillion. However, retail also faces many challenges such as changing consumer preferences, increasing competition, rising operational costs, and low margins. To survive and thrive in this competitive landscape, retailers need to adopt innovative technologies that can enhance their efficiency, productivity, and customer experience.

One such technology is artificial intelligence (AI), which can help retailers automate various tasks, optimize processes, and generate insights from data. AI can also enable new and exciting features such as computer vision, natural language processing, and recommendation systems, which can transform the way retailers interact with their customers and products.

Agrima Infotech

Details of the startup:

  • CITY : Kochi
  • STATE : Kerala
  • STARTED IN : 2012
  • FOUNDERS : Anoop Balakrishnan, Arun Ravi and Nikhil Dharman
  • NUMBER OF INVESTORS : 5
  • LATEST ROUND INVESTMENT : ₹1.50M
  • TOTAL INVESTMENT : ₹9.61M
  •   TOTAL SECURED LOANS AVAILED : Nil

You can find their website here.

To leverage the power of AI for retail, a startup called Agrima Infotech has developed a suite of deep tech products that cater to various use cases and segments of the retail industry. Agrima Infotech is an AI company focusing on computer vision, which is the ability of machines to understand and analyze images and videos. Agrima Infotech’s flagship product is Psyight, a computer vision platform that helps enterprises build and deploy AI solutions for image recognition and analysis.

We will explore how Agrima Infotech works, what benefits it provides to retailers, and what are its future plans.

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How Agrima Infotech Works

Agrima Infotech is a cloud-based platform that uses AI to provide computer vision solutions for retail in the following steps:

  • Ingestion: Agrima Infotech can ingest images and videos from multiple sources, such as cameras, smartphones, scanners, or APIs. Agrima Infotech supports various formats, such as JPEG, PNG, MP4, and AVI. Agrima Infotech can also handle low-quality, blurry, or noisy images and videos with high accuracy.
  • Recognition: Agrima Infotech can automatically identify and categorize objects in images and videos based on their type, such as fruits, vegetables, clothes, books, etc. Agrima Infotech can also detect and recognize faces, emotions, gestures, and actions of people in images and videos. Agrima Infotech can also handle complex and custom objects by using its large language models (LLMs) and generative AI module.
  • Analysis: Agrima Infotech can extract relevant data and information from images and videos, such as attributes, features, labels, prices, ratings, reviews, etc. Agrima Infotech can also analyze the data and provide insights and recommendations based on various criteria, such as quality, freshness, popularity, similarity, etc. Agrima Infotech can also perform sentiment analysis and emotion detection on images and videos.
  • Integration: Agrima Infotech can integrate with existing systems and applications, such as point-of-sale (POS), inventory management, customer relationship management (CRM), and e-commerce platforms, to automate and enhance various functions and processes. Agrima Infotech can also generate reports and dashboards based on the data and insights and provide actionable feedback and suggestions.
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Benefits of Agrima Infotech

Agrima Infotech claims to provide the following benefits to retailers who use its platform:

  • Increased Sales: By using computer vision to understand and engage customers, Agrima Infotech can help retailers increase their sales and conversions. Agrima Infotech can also help retailers create personalized and relevant offers and recommendations for customers based on their preferences and behavior. Agrima Infotech can also help retailers cross-sell and up-sell products by using image similarity and product discovery features.
  • Reduced Costs: By using computer vision to automate and optimize operations, Agrima Infotech can help retailers reduce their costs and improve their margins. Agrima Infotech can also help retailers save time and resources by eliminating manual and tedious tasks, such as data entry, product tagging, inventory counting, etc. Agrima Infotech can also help retailers reduce errors and frauds by using image verification and validation features.
  • Improved Quality: By using computer vision to monitor and analyze products, Agrima Infotech can help retailers improve the quality and shelf life of their products. Agrima Infotech can also help retailers ensure compliance and standards by using image inspection and quality control features. Agrima Infotech can also help retailers enhance the quality and consistency of their product images and videos by using image enhancement and editing features.
  • Enhanced Experience: By using computer vision to create and deliver innovative and interactive features, Agrima Infotech can help retailers enhance the customer experience and satisfaction. Agrima Infotech can also help retailers provide faster and smoother service by using self-checkout and smart payment features. Agrima Infotech can also help retailers increase customer loyalty and retention by using face recognition and emotion detection features.
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Future Plans of Agrima Infotech

Agrima Infotech was founded in 2012 by Anoop Balakrishnan, Arun Ravi, and Nikhil Dharman, who are alumni of IIT Bombay and IIM Ahmedabad respectively. The startup has raised over Rs 50 crore in funding from investors such as Arkam Ventures, 021 Capital, India Quotient, and Better Capital. The startup has also won several awards and recognitions such as the Google Launchpad Accelerator, Nasscom Emerge 50, and Forbes 30 Under 30.

Agrima Infotech currently has over 100 clients across the US, India, and Canada, including leading retail companies such as BigBasket, Samsung, IFB, and Innit. The startup aims to expand its customer base and product portfolio and become the leading computer vision platform for retail. The startup also plans to leverage advanced technologies such as artificial intelligence, machine learning, and satellite imagery to enhance its image recognition and analysis capabilities. The startup’s vision is to transform the retail industry by making computer vision simple, fast, and accurate.

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