The Czech investment firm Purple Ventures has become the first fund from Central Europe to invest in a startup from Uzbekistan. In this latest funding round, TASS Vision secured a total of €1.3 million. Purple Ventures contributed €500,000, while the remaining capital provided by Domino VC, Pragma Tech VC, Sabah Fund, Caucasus VC, Big Sky Capital, UzVC, as well as angel angel investors Bahrom Abdukadirov and Akhror Abdukarimov, who had previously supported the project two years ago.    

 

 

Additionally, pursuant to the Resolution of the President of the Republic of Uzbekistan dated October 14, 2024, “On measures for the further development of the startup ecosystem and venture financing”, and in accordance with the approved “Digital Startups” program, TASS Vision attracted an additional $100,000 in investment from IT Park Ventures under the 1+1 support mechanism (matching foreign investments from venture funds managing capital of no less than $50 million, with co-investments not exceeding $100,000).    

 

TASS Vision specializes in the development of AI-powered cameras that assist retailers in analyzing customer behavior and shelf performance directly on the device — without transmitting data to the cloud, which is particularly important for customer data privacy. 

 

In 2024, TASS Vision was awarded first place in the "AI-Based Technologies" category of the President Tech Award and received a prize of $100,000. 

 

 

At present, TASS Vision technologies are deployed in over 2,000 retail stores across nine countries, serving hundreds of brands in electronics, fashion, FMCG, and pharmaceutical sectors. The startup was founded by Shakhzod Umirzakov and Jamshidjon Khakimjonov. The product concept was originally conceived by Shahzod during his youth, while working as a bus ticket inspector, when he observed significant revenue losses due to human error and fraud.    

 

Shakhzod Umirzakov, Co-founder of TASS Vision: 

“As pioneers, we are opening doors for future startups from Uzbekistan, enabling them to attract investment not only from local players but also from international institutional venture funds. This will enhance their prospects for development and scaling into advanced markets. I believe the exception made for us is a result of the exceptional outcomes our team has demonstrated across Central Eurasia — Uzbekistan, Kazakhstan, Mongolia, Azerbaijan, Tajikistan, Kyrgyzstan, the UAE, Turkey, and Saudi Arabia.”

 

 

Over the past two years, TASS Vision has achieved an annual growth rate of 500% and has established R&D offices in Uzbekistan, South Korea, and China. The newly raised capital will be directed toward the development of the next generation of AI-powered cameras, which are expected to be twenty times faster and significantly easier to install. The company plans to expand its operations into the markets of the Middle East, North Africa, and Central Eurasia. TASS Vision’s long-term objective is to become for offline retail what Google Analytics represents for e-commerce.     

 

The closing of the investment round with Purple Ventures represents a significant milestone for the regional venture capital ecosystem. TASS Vision team hopes that their success will serve as an inspiration to entrepreneurs from Uzbekistan and neighboring countries, encouraging them to pursue global opportunities and build world-class technology enterprises.