Pixevia, a Vilnius-based startup pioneering AI in retail technology, has raised €340,000 in a bridge round extension led by Coinvest Capital. The funding will support Pixevia’s expansion in Taiwan, Belgium, Italy, and Poland, ArcticStartup reports.

About Pixevia

  • Founded back in 2013 by Mindaugas Eglinskas, Pixevia develops an AI platform for retail, which eliminates tills, provides best customer experience for store clients, and optimises operations for store managers. All is done by combining information from different security cameras.

  • In 2019, Pixevia launched its first AI-powered store in Europe. Since 2021, the company has collaborated with the Rewe-owned Lithuanian supermarket giant IKI. As of May 2024, it has already opened 16 stores in France, the Netherlands, the UK, the USA, Canada, Australia, Estonia, Latvia, and Lithuania.

Investment details

The bridge round extension was led by Coinvest Capital, a Lithuanian fund investing in startups and companies undergoing business development and growth with groups of business angels. The fund contributed €170,000 to the financing.

The round also included the backing from angel investors Vytenis Benetis, Vladas Lašas, Rita Sakus, and Renaldas Zioma.

The new funding will fuel Pixevia’s rollouts in Taiwan, Belgium, Italy, and Poland, further reinforcing the company’s position in key global markets.

In May 2024, Pixevia raised €1.5 million in funding to boost its expansion into the US and Europe. Coinvest Capital also led the round with participation from Iron Wolf Capital, Omni Commerce Ventures, and others.