- Pixevia raises €1.5 million in new funding to fuel expansion efforts.
- Company pioneers real-time receipt technology for AI-driven stores.
- Funding led by Coinvest Capital, with participation from Iron Wolf Capital, Omni Commerce Ventures, and Rita Sakus.
- Existing investors including Open Circle Capital, Vladas Lašas, and Renaldas Zioma continue to support Pixevia.
- Plans for expansion in the U.S. and Europe, focusing on the DACH region and integrating technology into new venues like sports arenas and airports.
Main AI News:
Pixevia, a pioneering retailtech startup based in Lithuania, has announced a successful raise of €1.5 million in new funding, marking a pivotal moment in its expansion journey. The company’s innovative technology platform specializes in delivering real-time receipts within AI-driven stores, offering a seamless shopping experience for consumers while enhancing security measures against theft.
This latest funding injection comes at a crucial time for Pixevia as it seeks to further penetrate the retail markets in both the United States and Europe. With its adaptable technology, Pixevia aims to cater to various store formats, including high-traffic convenience stores, gas stations, and container stores, revolutionizing the traditional brick-and-mortar shopping experience.
Mindaugas Eglinskas, the visionary founder and CEO of Pixevia, expresses enthusiasm about the company’s trajectory, stating, “2023 marked a significant milestone for Pixevia, and this combined funding round aligns perfectly with our expansion strategy. It provides the necessary resources to capitalize on existing market demand and venture into new territories.”
Leading the funding round is Coinvest Capital, demonstrating confidence in Pixevia’s potential for growth and innovation. Joining them are esteemed investors such as Iron Wolf Capital, Omni Commerce Ventures, and Rita Sakus, alongside continued support from existing backers including Open Circle Capital, Vladas Lašas, and Renaldas Zioma.
Viktorija Trimbel, Managing Director at Coinvest Capital, highlights Pixevia’s forward-thinking approach, stating, “Pixevia’s remarkable progress reflects its ability to anticipate and respond to evolving trends in the retail landscape. We are excited to partner with them as they continue to redefine the future of shopping.”
Kasparas Jurgelionis, managing partner at Iron Wolf Capital, echoes this sentiment, emphasizing Pixevia’s competitive edge in delivering efficient and cost-effective solutions amid a rapidly changing retail environment. He adds, “Pixevia’s expansion plans are ambitious yet strategic, with a clear focus on maximizing market potential while maintaining operational excellence.”
Looking ahead, Pixevia intends to allocate the raised funds towards expanding its footprint across the U.S. and Europe, with a particular emphasis on the DACH region. In addition to scaling existing operations, the company aims to integrate its technology into new environments such as sports arenas, university campuses, and airports, further cementing its position as a leader in the autonomous retail space.
Conclusion:
Pixevia’s successful funding round signifies a significant milestone in the retailtech landscape, highlighting the growing demand for AI-powered solutions. With strategic expansion plans and innovative technology offerings, Pixevia is poised to capture market share and reshape the future of retail experiences in the US and Europe. This development underscores the increasing importance of automation and data-driven insights in the retail industry, paving the way for continued innovation and growth.
