FilterPixel: 100X.VC Investment Thesis



 

Introduction 

In our limited lifetime, making decisions on how we spend our time is very important. Especially when we have chosen a profession for the artistic opportunities it provides us.

Spending time on a tedious, repetitive and time-consuming process should be the last thing one has to do. 

Photographers, being such professionals, spend 20% of their time clicking photos  but still a majority, almost 80% of their workday goes into cumbersome manual tasks of photo selection and editing. With the existing tools in the market, photographers have to go through 1000's of photos manually, one by one, to select the best 100 or create a top list containing a few images which they can then deliver to their clients. This process of photo selection itself  takes 5 hours every single day.  To make this process much smoother and faster for photographers, FilterPixel offers the perfect tool. 

FilterPixel is a SAAS platform wherein once can with the use of AI and  automation, select the best photos for photographers. With the use of FilterPixel, the out of focus, blurry and closed eyes, awkward expression photos are marked with errors and the best photos are automatically selected based on composition, lighting & many other parameters, hence saving 90% time in the photo selection process. FilterPixel automates 5 hours of manual work in just 20 minutes! Users can access the Filter Pixel cloud through the desktop app as well as through the enterprise clouds platform.

FilterPixel enables photographers to save this time to grow their business or do anything rather than sit in front of the computer for the whole day, empowering photographers, brands as well as retailers by giving them more control over the quality as well as the quantity of the pictures selected, so that they are able to offer the best end product to the customer with maximum efficiency.

Where it all Began

The team is headed by founders  Aayush and Pratyush who occupy the position of CEO and CTO respectively. Back in 2019, Aayush, founder of FilterPixel, was in MIT playing chess at one of the tournaments when he was approached by a photographer who was shooting the event. 

When he questioned the photographer about the timeline required for him to obtain these photos for his social media, he realized the actual amount of time and effort that goes into selecting and curating the necessary photos, a process that manually takes over a week to complete. This led to the brainwave of creating an AI based solution to refine and smoothen the process  of photo selection for photographers. With a penchant for experimenting and introducing new ideas, Aayush and Pratyush aim to eliminate this exhausting and tedious manual process with FilterPixel.

Market Opportunity

Helping professional photographers navigate the enormous dataset of photos is the current main market segment that Filterpixel operates in, a segment which has a market size of 5 Billion USD. Catering to this market in turn allows FilterPixel to collect quality data to improve  their deep learning models and to enter into the emerging photo-processing markets in Retail, Automobiles, Food etc which further has a potential of 109B+ USD by 2027. With plans to scale from Individual photographers to well established brands, enterprises, retailers etc, the market opportunity is immense for FilterPixel with more serviceable markets cropping up.




100X.VC thesis

AI-powered platforms for bulk-editing any kind of images are poised for capturing a large market segment with potential to convert even the non-consumption users in the future. The AI Image Recognition Market estimated value was USD 1695.93 million in 2020 and is expected to reach a value of USD 5161.04 million by 2026, registering a CAGR of 24.82% during the forecast period (2021 - 2026).  The founding team are level headed individuals with  exemplary  skills to continuously develop the product. 100X.VC feels the opportunity is a category creator in itself !

Conclusion 

As of August 2021, FilterPixel has processed over 500k photos and is looking to grow and expand into multiple verticals by offering high end tech solutions to automate and introduce a smart approach to the way photographers select, edit and retouch photos. An incredible drive and focus paired with the ability to  evolve and create tech solutions across multiple spectrums is what sets the team apart, and 100X.VC is excited to join them on this journey.

- 100X.VC Team

Published on: November 8, 2021