E-commerce startup Pixyle AI raises one million euros to scale company
Pixyle AI, a tech startup focused on providing visual artificial intelligence (AI) for e-commerce retailers, has announced a one million euro seed funding round to back its mission of enhancing online shopping experiences.
Currently based between Amsterdam and North-Macedonia, Pixyle AI said it would use the financing to further expand its geographic reach, enhance product offerings and move into new verticals.
The company was founded in 2018 by Svetlana Kordumova as a solution to site searches providing inaccurate product recommendations to customers, through inconsistent and inaccurate data collection.
Its offer looks to help fashion retailers with image recognition solutions that find the location of fashion items in images and determine their category and attributes to improve product discoverability.
Retailers can then implement the data found by Pixyle AI into their e-commerce platform to make search and discovery more efficient.
It currently works with the likes of Spain’s Tendam, Dutch marketplace Otrium and Denmark’s Miinto.
In a release, Kordumova said: “In search, understanding customers’ shopping intent is vital. We are laser focused on this using neural networks that train Pixyle’s AI algorithms to see and interpret images exactly how humans would.
“Having the right metadata associated with product images helps retailers capture everyday popular search queries as well as long-tail searches.
“We’re trying to make online shopping as frictionless as possible, and hopefully a bit more fun and enjoyable by letting people easily find what they are really looking for.”