Vilnius-based PIXEVIA, which uses AI for checkout-free shopping and store optimization, has raised €340,000 in a bridge funding round extension to fuel its expansion. The round was led by Coinvest Capital, and several business angels participated.
- Founded in 2013 by Mindaugas Eglinskas, PIXEVIA offers AI-powered autonomous retail solutions. These solutions enable checkout-free shopping, optimize store operations with real-time 3D platforms, and provide advanced consumer data insights for brands.
- PIXEVIA claims to have launched Europe’s first AI-powered store in 2019 and began partnering with IKI in 2021. By May 2024, the company claims to have expanded to 16 stores across Europe, North America, and Australia.
- In May 2024, PIXEVIA raised €1.5 million in funding led by Coinvest to support growth in the US, Europe, and the DACH region. The company plans to expand into airports, campuses, and sports arenas.
Details of the deal
- Coinvest Capital led the round with a €170,000 contribution. The Lithuanian early-stage venture capital firm manages €25.5 million in assets and has 32 portfolio companies, including two exits.
- The investment also received support from new and existing business angels, including Vladas Lašas, Renaldas Zioma, Rita Sakus, and Vytenis Benetis.
"This bridge round extension sets the stage for a 10x larger investment target in the coming year, along with an expanded presence in global markets," PIXEVIA's team, commented on LinkedIn.
- The €340,000 investment will be used to expand into Taiwan, Belgium, Italy, and Poland and strengthen operations in the APAC region, Europe, and the US.
