AI-Powered Retail Pioneer Pixevia Secures €340k to Expand Global Presence

Pixevia, a Vilnius-based company specializing in AI-driven retail solutions, has raised €340,000 in a bridge funding round to accelerate its international expansion. The round was led by Coinvest Capital, which contributed €170,000, with additional investments from both new and existing backers, including business angels Vladas Lasas, Renaldas Zioma, Rita Sakus, and Vytenis Benetis.

Founded in 2011, Pixevia gained recognition as the developer of Europe’s first AI-powered autonomous store, launched in 2020. The company’s flagship product, Retail Core, is designed to improve operational efficiency and security in retail settings by leveraging standard video camera technology. The system provides in-depth insights into customer behavior, product availability, pricing, advertising impact, and overall store performance, enabling businesses to optimize their operations.

According to Mindaugas Eglinskas, the company’s Founder and CEO, the new funding will enable Pixevia to allocate more resources to specific regions and speed up project rollouts. “This funding allows us to allocate more resources to specific countries and accelerate deployments, reaffirming our dedication to revolutionising retail with AI-powered technologies,” Eglinskas said.

The bridge round follows a €1.5 million funding round completed in May 2024, which supported Pixevia’s efforts to strengthen its presence in Europe and the United States. The latest funds will be directed toward new rollouts in Taiwan, Belgium, Italy, and Poland, alongside bolstering operations in key markets such as the APAC region, Europe, and the US. These areas have been identified as critical to the company’s strategy, given the increasing demand for automated retail technologies.

Coinvest Capital, which led the funding round, is a venture capital fund established by Lithuania’s national development bank ILTE. The fund integrates resources from the European Union, Lithuanian public funds, and private sector contributions. Commenting on the investment, Viktorija Trimbel, Managing Director of Coinvest Capital, stated: “Pixevia’s capacity to innovate has been remarkable. Our partnership with Pixevia aligns seamlessly with our mission to back technology-driven ventures that disrupt industries. This funding round reflects our confidence in Pixevia’s AI solutions and their potential to become a global leader in retail transformation.”

With its recent successes in funding and deployment, Pixevia is positioning itself to play a significant role in reshaping the retail landscape. The company’s focus on integrating AI-powered solutions into retail operations aligns with the growing trend of automation in the sector. By targeting new markets and enhancing its presence in established ones, Pixevia aims to address the increasing demand for advanced retail technologies while continuing to innovate and expand its product offerings.

As the global market for AI-driven retail solutions evolves, Pixevia’s strategic investments and partnerships are likely to influence the future of the industry. The company’s ability to deliver cutting-edge technologies while scaling its operations internationally underscores its commitment to transforming the retail experience.