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LatAm's Vambe ARR Soars After Pivoting to Conversational AI

2024-12-04

When Nicolás Camhi, Matías Pérez Pefaur, and Diego Chahuán launched Vambe last year, their initial focus was on building a CRM for debt collection. However, they soon discovered that their customers were more intrigued by the WhatsApp AI agents Vambe had developed to assist in the debt collection process. As Camhi shared with TechCrunch, “Our customers were already asking us, ‘Hey, could you ask the AI so that when you go out after a debt, could you offer this person, I don’t know, “x” product or “”x” service?’” This realization led them to a significant pivot. In March 2024, Vambe shifted its focus to these AI agents, aiming to empower small and medium-sized businesses with automated communication tools to close sales on platforms like WhatsApp.

Customer Base and Revenue Growth

Vambe’s customer base spans a wide range, from small mom-and-pop businesses with just five employees, such as carpet cleaners, to large retail companies with thousands of workers. Before the pivot, the company had an annual recurring revenue (ARR) of about $20,000. But since March, this number has witnessed a remarkable surge. In November, Vambe closed with an ARR of $1 million. This rapid growth has positioned Vambe as a force to be reckoned with in the market.

Funding and Investor Interest

To capitalize on this growth, Vambe recently raised a $3.85 million seed round. Led by Brazil-based VC firm Monashees, the round also saw participation from Mexico-based investor Nazca and U.S.-based M13. M13’s partner Brent Murri highlighted that the firm started building its thesis on the Latin American region two years ago but had been waiting for the right opportunity. Meeting Vambe’s team at the Berkeley Skydek accelerator earlier this year was the turning point. Murri was particularly impressed by Vambe’s tech. He gave an example of building a fake business and using Vambe to set up an AI agent, demonstrating how quickly and efficiently it could be done. He also noted that M13 is bullish on Vambe’s potential, stating that in the U.S., the space for AI agents for sales and marketing is crowded, but in Latin America, the adoption by SMBs and enterprises, as well as consumer willingness to adopt AI products, is actually higher than in other parts of the world.

Cultural Factors and Business Dynamics

The reason for this affinity towards sales tech in Latin America is the conversational nature of business here. Camhi explained, “It’s kind of a cultural thing. Here in LatAm, we really like to talk. People with companies don’t just engage and buy something directly from a web page. They try to reach out. They want someone to help them. They want to understand pricing. They want to understand delivery. And all of that kind of communication is something super hard to scale.” This cultural aspect presents a unique opportunity for Vambe to thrive.

Competitors in the LatAm Market

Vambe is not the only company building WhatsApp AI applications for businesses in Latin America. Mercately, based in Ecuador, is also focused on developing the back-end tech that companies need to communicate with customers and sell directly to them through WhatsApp. In the U.S., there are several competitors as well. Bret Taylor’s Sierra, which recently raised a $175 million round, and ElevenLabs, which has raised more than $100 million in total venture capital, are among the notable players. Voiceflow, a smaller entrant, has also raised more than $39 million in VC.

Future Plans and Ambitions

Beyond its ambitions in Mexico, Vambe is looking to expand its reach to Spanish-speaking businesses in the U.S. It plans to continue building out its team and developing its technology. As Camhi emphasized, “We are putting extremely advanced technology in the hands of businesses that don’t even know how to prompt. They are really increasing their sales and reducing their costs. I think that is super, super important.”

DeepMind, the AI research arm of Google, has made a remarkable breakthrough by presenting a model capable of creating an "endless" variety of playable 3D worlds. This model, named Genie 2, is the successor to DeepMind's earlier Genie released this year. It has the astonishing ability to generate an interactive, real-time scene from a single image and text description, such as "A cute humanoid robot in the woods". In this regard, it shares similarities with models being developed by Fei-Fei Li's company, World Labs, and the Israeli startup Decart.

DeepMind's Genie 2: Unleashing the Potential of 3D Worlds

Model's Training and Capabilities

Trained on videos, Genie 2 can simulate object interactions, animations, lighting, physics, reflections, and the behavior of "NPCs". Many of its simulations resemble AAA video games, and the reason might be that its training data includes playthroughs of popular titles. However, like many AI labs, DeepMind has not disclosed many details about its data sourcing methods due to competitive or other reasons.This model can generate a "vast diversity of rich 3D worlds", and users can take actions like jumping and swimming by using a mouse or keyboard. It can generate consistent worlds with different perspectives, such as first-person and isometric views, for up to a minute, with the majority lasting 10-20 seconds. Genie 2 responds intelligently to actions taken by pressing keys on a keyboard, identifying the character and moving it correctly. For example, it can figure out that arrow keys should move a robot and not trees or clouds.

Comparison with Other Models

Most models like Genie 2, which are world models, can simulate games and 3D environments but often face issues such as artifacting, consistency, and hallucination. For instance, Decart's Minecraft simulator, Oasis, has a low resolution and quickly "forgets" the layout of levels. However, Genie 2 can remember parts of a simulated scene that are not in view and render them accurately when they become visible again. World Labs' models also possess this ability.Although games created with Genie 2 might not be overly fun as they erase progress every minute or so, DeepMind positions the model as a research and creative tool. It can turn concept art and drawings into fully interactive environments and help researchers generate evaluation tasks that agents have not seen during training.

Future Implications and Research Focus

While Genie 2 is still in the early stages, DeepMind believes it will be a key component in developing AI agents of the future. Google has been pouring increasing resources into world model research, which is expected to be the next big thing in generative AI. In October, DeepMind hired Tim Brooks, who was leading the development of OpenAI's Sora video generator, to work on video generation technologies and world simulators. Two years ago, the lab also poached Tim Rocktäschel, known for his "open-endedness" experiments with video games like Nethack, from Meta.This research holds great potential for various fields, from game development to artificial intelligence. It opens up new possibilities for creating immersive and interactive experiences and evaluating AI agents in diverse environments. As DeepMind continues to advance this technology, it will likely have a significant impact on the future of both the gaming and AI industries.

Mechanics often encounter various issues while dealing with different car components. In this article, we'll focus on the troubles associated with panoramic sunroofs and how they can lead to significant repair costs. A professional mechanic from Illinois, known as The Car Care Nut, recently shared a story that sheds light on these problems.

Beware of Panoramic Sunroofs - The Hidden Repair Costs

Section 1: The Customer's Disastrous Experience

One of The Car Care Nut's customers brought in a Toyota Hilux with a faulty seal on its panoramic sunroof. The dealership had allegedly only replaced the tape attaching the corner of the sunroof seal to the main frame, which was a wrong approach. When this tape breaks, the entire seal needs to be replaced. If not, the corner keeps popping up, and air rushes through, causing a whistling sound. This simple issue led to a major repair job that required ripping out the car's interior and removing the roof.The mechanic explained that to replace the seal properly, the entire headliner had to be removed, and the entire sunroof structure had to be pulled out of the car. It's beyond comprehension why the feature is designed this way. This job could take two full days, and the customer was sent a bill for $1,850.

Section 2: The Complexity of Panoramic Sunroof Repairs

Panoramic sunroofs seem like a luxurious addition to a car, but their design makes them a nightmare for mechanics. The Car Care Nut emphasized that these sunroofs are not as straightforward to repair as one might think. The delicate nature of the components and the extensive disassembly required make the repair process time-consuming and expensive.Commenters on the YouTube video were amazed by the story. One said the car owners were fortunate to find someone who would do the work for $1,850. Another added that they never thought about the complexity involved and that they were not planning to buy a vehicle with a huge sunroof but would now be more cautious.

Section 3: Similar Issues in Other Vehicles

It's not just Toyota Hiluxes that face problems with panoramic sunroofs. Similar issues have been reported in other vehicle models as well. This highlights the need for drivers to think twice before buying a car with this popular feature.Even Harley-Davidson bikes are in line for a major design overhaul on a decade-old storage feature. This shows that even in different vehicle types, complex features can lead to unexpected repair costs and design challenges.Drivers need to be aware of these hidden costs and make informed decisions when purchasing a car. A seemingly small issue with a panoramic sunroof can turn into a major headache and a hefty repair bill.