A Lithuanian artificial intelligence startup that develops autonomous retail technology has secured €340,000 in bridge financing to accelerate its international expansion.
Pixevia, based in Vilnius, received the funding in a round led by Coinvest Capital, which contributed €170,000. The remainder came from new and existing investors, including business angels Vladas Lašas, Renaldas Zioma, Rita Sakus, and Vytenis Benetis.
“This funding allows us to allocate more resources to specific countries and accelerate deployments, reaffirming our dedication to revolutionising retail with AI-powered technologies,” said Mindaugas Eglinskas, Founder and CEO of Pixevia.
Founded in 2011, Pixevia launched Europe’s first AI-powered autonomous store in 2020. The company has since developed Retail Core, a system that uses standard video cameras to provide detailed insights into customer behavior, product availability, pricing, advertising effectiveness, and operational performance.
The bridge round follows a €1.5 million funding round in May 2024, which focused on expanding the company’s presence in Europe and the US through autonomous store deployment. With this additional funding, Pixevia plans to target rollouts in Taiwan, Belgium, Italy, and Poland, while strengthening its operations in the APAC region, Europe, and the US.
Coinvest Capital, the lead investor, is a venture capital fund established by Lithuania’s national development bank ILTE, combining EU and Lithuanian public funds with private contributions.
“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,” said Viktorija Trimbel, Managing Director at Coinvest Capital.
