Pixevia secured €1.5M to expand the presence of its smart stores
Pixevia, a Lithuanian startup offering an AI-powered platform for a full suite of retail applications, has raised €1.5M to fuel its expansion in the US and Europe.
The Lithuanian-based startup Pixevia offers an AI-powered platform that supports a full suite of retail applications, from real-time checkout and door control, to unusual behavior alerts, age verification, and advanced management and analytics functions. The platform supports several store configurations, including container stores, kiosks, and convenience stores (100 to 400 m2) processing hundreds of daily transactions. The required adaptations to the physical space are minimally disruptive since they only consist of small ceiling cameras, existing shelving augmented with in-house developed sensors, and servers built from commercially available components to run Pixevia's proprietary AI system.
The company launched its first AI-powered store in Europe in 2019. Then, in 2021, Pixevia struck a partnership with the Lithuanian supermarket chain IWI (owned by Rewe) which resulted in the opening of 5 additional stores. Pixevia's components and solutions are used in France, the Netherlands, the UK, the US, Canada, Australia, Estonia, Latvia, and Lithuania.
The funds were raised in a round led by Coinvest Capital with the participation of new investors Iron Wolf Capital, Omni Commerce Ventures, and Rita Sakus; and the continuing support of existing investors Open Circle Capital, Vladas Lašas, and Renaldas Zioma. With the raised funding, Pixevia plans to boost its planned expansions in the US and Europe.
