Pixevia looks to take smart stores across Europe

Retail automation startup Pixevia has bagged €1 million in funding from Iron Wolf Capital, Open Circle Capital, Practica Capital and Mantas Mikuckas (Vinted), Tomas Okmanas and Eimantas Sabaliauskas (Tesonet). 

The venture launched its first AI driven store during the summer of 2019, in Vilnius, Lithuania. It says that it will use the funding to refine its technology and expand throughout Europe.

Mindaugas Eglinskas, CEO at Pixevia, which was formerly known as Magma Solutions, says: “AI driven smart stores are a reliable solution for retailers challenged by Covid-19. They eliminate physical contact, while the security system installed inside the store automatically disinfects the premises when there are no people.” 

"The pace of life is accelerating; that’s why we’ll need more stores where you can shop without wasting a minute of your time,” says Kasparas Jurgelionis, Partner at Iron Wolf Capital.

“AI driven smart stores were first introduced in the US, but Pixevia was the first in Europe. By contributing to the development of this technology, we are taking a strategic step towards the future of retail.”

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