UzVC Invested $100,000 in TezzGO Startup: A New Stage in Automated Retail
TezzGO
The National Venture Fund UzVC announces an investment of $100,000 in the innovative technology startup TezzGO, which specializes in developing solutions for cashierless stores.
This investment is part of the fund's strategy to support promising technology projects capable of transforming traditional economic sectors.
TezzGO is a technology platform based on artificial intelligence and computer vision for creating fully automated retail outlets. The startup's core concept involves implementing a cashierless trading system where customers can purchase goods without interacting with cashiers. TezzGO technology works through the comprehensive use of computer vision systems, machine learning, and cameras that track customer movement in the sales floor, identify selected items, and automatically generate bills for payment. Upon entering the store, customers are identified through a mobile app, after which the system tracks their actions and automatically deducts funds when exiting the retail outlet.
The application of artificial intelligence in retail opens fundamentally new opportunities for optimizing business processes. The TezzGO system provides continuous real-time monitoring of inventory, allowing store owners to quickly respond to demand changes and minimize losses. Machine learning algorithms analyze customer behavior and provide valuable data for management decisions. Automating the customer service process significantly reduces operational costs for retail enterprises. The absence of cashier personnel allows for substantial reduction in wage costs, which traditionally constitute a significant share of retailers' expense structure. Moreover, the technology eliminates human error associated with calculations, improving accounting accuracy.
The system also ensures an improved customer experience by eliminating checkout queues. Customers can make purchases faster and more comfortably, increasing their satisfaction and loyalty to the retail outlet. The project addresses a real market need for increased efficiency in retail operations. Uzbekistan is characterized by a growing modern retail segment, where operators constantly seek ways to optimize costs and improve service quality. The TezzGO solution provides a concrete tool for achieving these goals.
The technology has high scalability potential. After refining the model in the local market, expansion to neighboring Central Asian countries and other regions is possible. The universality of the technological solution allows adaptation to various retail formats. Currently, the technology is being tested on display refrigerators, reformatting them into "vending machine" analogues, and is already deployed in more than 100 locations, ready for franchise cooperation across all regions of Uzbekistan!
UzVC's investment in TezzGO represents an investment in the future technologies of retail. AI-based automation will inevitably become an industry standard, and companies that begin developing these solutions today gain a significant competitive advantage. Supporting innovative startups working in promising technological directions is a key element of Uzbekistan's venture ecosystem development strategy and opens new opportunities for technological modernization of the economy.