Lithuanian retailtech Pixevia raises €1.5M in a new funding

Pixevia, a Vilnius-based AI platform for retail, has informed AIN the fresh €1.5 million in funding to boost its expansion into US and Europe. Coinvest Capital led the funding with participation from Iron Wolf Capital, Omni Commerce Ventures, and others.

  • Pixevia develops a technology platform that provides real-time receipts in AI-driven stores. This technology is implemented across store formats, including high-traffic convenience stores, gas stations, and container stores. The startup claims, it also provides protection against theft and offers an app-less, tap-in/tap-out shopper experience.
  • 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. In total, 16 stores have already opened in France, the Netherlands, the UK, the USA, Canada, Australia, Estonia, Latvia, and Lithuania. In 2018, it has received the first EU research grant, and in 2020 the second for AI-based Smart Store development.
  • This funding round was led by Coinvest Capital. Founded in 2018 and headquartered in Vilnius, Coinvest Capital is an early-stage venture capital fund dedicated to supporting Lithuanian startups. The 34 companies in its portfolio encompass defense, climate tech, medtech, deep tech, and other sectors.
  • The round saw participation from Iron Wolf Capital, Omni Commerce Ventures, and Rita Sakus. Existing investors Open Circle Capital, Vladas Lašas, and Renaldas Zioma also made contributions to the round.

Pixevia’s demonstrable success in the last year was more than just promising. In many ways, Pixevia anticipated the significant shift in retailers’ attitudes towards autonomous stores that has happened in the last year, and we’re so pleased to be a part of its continuing growth, investing on pari-passu basis according to our recent mandate extension,

Viktorija Trimbel, Managing Director at Coinvest Capital, said.

Pixevia plans to expand throughout the US and Europe, especially within the DACH region. These plans include the integration of new venues such as sports arenas, university campuses, and airports.