Customer Experience

Cashierless store technology startup raises $1M+ in Lithuania

August 11, 2020

Pixevia, a retail automation company, has attracted €1 million ($1.17 million) in investments from venture capital firms Iron Wolf Capital, Open Circle Capital, Practica Capital as well as business angels Mantas Mikuckas (Vinted), Tomas Okmanas and Eimantas Sabaliauskas (Tesonet), according to a press release.

The startup has already launched its first AI-driven store in the summer of 2019, in Vilnius, Lithuania.

"AI-driven smart stores are a reliable solution for retailers challenged by COVID-19," Mindaugas Eglinskas, CEO of Pixevia, said in the press release. "It eliminates physical contact, while the security system installed inside the store automatically disinfects the premises when there are no people."

The smart stores operate by using ceiling cameras that observe customers and smart shelves, which enables them to keep track of the products. There are no cashiers — the store automatically detects items taken from the shelves and creates a virtual shopping cart. Pixevia's AI algorithm continuously analyzes the data received from the cameras and shelves to ensure the process is swift and accurate.

For an update on how the coronavirus pandemic has affected kiosks, click here.