Tangoeye

Tangoeye is a computer vision company that provides AI-powered video analytics for physical retail stores. Founded in 2017 by Surender Gounder, the Chennai-based firm was established to bridge the efficiency gap between e-commerce and brick-and-mortar retailing. Gounder, who previously worked as an Equity Finance Trader at Credit Suisse and holds a degree with a focus on Finance, Accounting, and Computer Science, was motivated by his own frustrating shopping experiences and the visible inefficiencies in retail operations. He identified an opportunity to use AI to analyze existing video feeds, which were often siloed and only reviewed after an incident like shoplifting.

The company's core business revolves around a B2B SaaS model, converting standard CCTV video data into actionable insights for retailers. This is achieved through a plug-and-play software solution that integrates with a store's existing surveillance cameras, eliminating the need for new hardware investment. Clients access the analytics via a dashboard that provides a unified view of performance across all their locations. The firm generates revenue through subscriptions to its platform. After a series of funding rounds that raised a total of $1.27 million from investors including Lenskart, RiSo Capital, and several angel investors, Tangoeye was acquired by Lenskart on October 30, 2023, to enhance Lenskart's in-store experience and automate quality control in its manufacturing facilities.

Tangoeye's platform offers a suite of products designed to improve sales, operational efficiency, and security. Products like 'Tango Traffic' and 'Tango Zone' analyze customer footfall, dwell times, and movement patterns to identify hotspots and optimize store layouts. The 'Tango RevOp' product specifically focuses on identifying and understanding missed sales opportunities by analyzing the entire sales funnel from walk-ins to conversion, thereby boosting staff accountability. The system can track SOP compliance, such as staff attendance and sanitization protocols, and provides security features by detecting suspicious activities. A key technical capability is the platform's ability to track individuals seamlessly across multiple cameras without relying on facial recognition, making it agnostic to camera angles and models. The technology has been deployed in major retail chains such as Lenskart, Nykaa, and Da Milano.

Keywords: video analytics, retail AI, computer vision, in-store analytics, customer behavior analysis, operational efficiency, retail technology, footfall analysis, sales conversion optimization, SOP compliance, retail security, business intelligence, SaaS, Surender Gounder, Lenskart acquisition, RevOp, missed sales analysis, CCTV analytics, store performance, customer journey tracking, retail data