because investors(Angels, family and friends) especially in Nigeria, south-south to be precise- don’t quite understand Artificial intelligence yet and see machine learning as a new thing without an identified market, is why Touchabl pictures found it very difficult to raise funds one year after they had launched. at least not on till now.
The startups just announced a $20,000 pre-seed funding from Genesys Tech hub to support product development including building a brand new convoluted neural network for analyzing visual imagery, major update to its app to integrate with local e-commerce stores and most importantly market research at local and international levels.
alongside this funding, stated conditions says genesys will further provide team Touchabl with training for a period of six months and mentorship with critical feedbacks to position them into becoming a hugely successful business.
Touchabl isn’t just an app that allows you to search and buy objects in an image by a single touch of hand, its hopes to change the ambiguous and rigorous processes of owning and managing an online inventory, – to just taking a picture of a product and an inventory will automatically be created. its based on the same implementation as the Touchabl app. you take a picture, a branch of machine learning called computer vision studies the product then use a dictionary to store it against a level with some description.
Its one of the most advanced ways you could interact with a picture. It allows users to receive an information about an object such as the price of a dress a person is wearing – displaying in any picture on their phone gallery or social media feeds.
as a startup without funding you should be able to keep moving forward each day by leveraging on local tech communities around and building a product that’s not only innovative but also solved a problem. Tochabl is an example that keeps Defying all odds of failure as a result came out 1st at startupsouth3 pitch event and appeared on 4kreport’s list of startups to watch out for in 2018.
Its app(android) stands at 1k global downloads on play store, 300+ average monthly users and an IOS app also planned to be released.
I once said, the only way touchabl would work is if its backed with a good marketing strategy, the startup knows this and has said it will invest a bulk amount of the money into marketing, continuous market research and paper works for strategic partnerships.
Touchabl is one step closer to being the biggest affiliate marketers in the world and this is because Touchabl’s technology can be applied anywhere globally.