Pixevia, a Vilnius-based startup specialising in AI-driven retail applied sciences, has raised €340k in a bridge spherical extension geared toward accelerating its international enlargement.
The funding was led by Coinvest Capital, contributing €170k, with the rest from new and present traders, together with enterprise angels Vladas Lašas, Renaldas Zioma, Rita Sakus, and Vytenis Benetis.
Based in 2011, Pixevia is thought for its autonomous retail know-how, together with Europe’s first AI-powered autonomous retailer launched in 2020. The startup has additionally developed Retail Core, a system designed to reinforce retailer effectivity and safety utilizing normal video cameras.
Retail Core permits detailed insights into buyer behaviour, product availability, pricing, promoting effectiveness, and operational efficiency.
“This funding permits us to allocate extra sources to particular nations and speed up deployments, reaffirming our dedication to revolutionising retail with AI-powered applied sciences,” stated Mindaugas Eglinskas, Founder and CEO of Pixevia.
This bridge spherical follows Pixevia’s notable €1.5 million funding spherical in Might 2024, which was geared toward increasing its presence in Europe and the US, specializing in autonomous retailer deployment.
With the extra €340k, Pixevia is concentrating on rollouts in Taiwan, Belgium, Italy, and Poland, whereas bolstering its operations within the APAC area, Europe, and the US. These markets are essential to the corporate’s technique, given the rising demand for retail automation applied sciences.
Coinvest Capital, a key investor within the spherical, is a enterprise capital fund established by Lithuania’s nationwide growth financial institution ILTE, which leverages EU and Lithuanian public funds alongside non-public contributions.
Viktorija Trimbel, Managing Director at Coinvest Capital, remarked: “Pixevia’s capability to innovate has been exceptional. Our partnership with Pixevia aligns seamlessly with our mission to again technology-driven ventures that disrupt industries. This funding spherical displays our confidence in Pixevia’s AI options and their potential to grow to be a worldwide chief in retail transformation.”
Constructing on the momentum from its earlier €1.5 million funding, the corporate is aiming to additional reshape the retail panorama with its AI-powered applied sciences.