Pixyle AI, an Amsterdam, Netherlands-based visual AI startup for e-commerce, secured €1 million in seed funding from South Central Ventures to help fashion e-commerce deliver better search experiences by generating detailed and accurate product attributes, enabling consumers to get to their desired items faster.
The investment will be used to further expand Pixyle AI's geographic reach, enhance the product offering, and move into new verticals.
"In search, understanding customers' shopping intent is critical," said Svetlana Kordumova, founder and CEO of Pixyle AI. "We are laser focused on this using neural networks that train Pixyle's AI algorithms to see and interpret images exactly how humans would. For example, in e-commerce, when site visitors are looking for a specific product to buy and type "short summer dress with flower print in purple and pink," in order for these kinds of dresses to be shown to the customers in the catalogue, they need to be tagged with length “short,” occasion “summer,” with the “floral” pattern, and “purple” and “pink” colours. It starts with building the right taxonomy. Having the right metadata associated with product images helps retailers capture everyday popular search queries and long-tail searches. We’re trying to make online shopping as frictionless as possible and hopefully more fun and enjoyable by letting people easily find what they are looking for.”
Pixyle’s visual AI finds the location of fashion items in images, determines the category of the item then Pixyle AI digs deeper into the image to classify attributes in language that shoppers use. This enhances the product data and improves the relevancy in search results for product discoverability, leading to higher conversion rates.
Currently, the company works with brands and retailers globally, including Depop (UK), Otrium (Netherlands), and Miinto (Denmark).
Company: Pixyle B.V.
Raised: €1.0M
Round: Seed Round
Funding Month: December 2022
Lead Investors: South Central Ventures
Additional Investors:
Company Website: https://www.pixyle.ai/
Software Category: Visual AI Software
About the Company: Founded in 2018 by Svetlana Kordumova, a Ph.D. in AI and computer vision from the University of Amsterdam, Pixyle.ai is a B2B SaaS company that developed AI image recognition software for the fashion industry to enrich customers' experiences and improve site conversions. It helps fashion retailers with image recognition solutions, enabling them to deliver a better online shopping experience, boost e-commerce sales, and improve efficiency in catalog management with smart product data entry. Its visual AI finds the location of fashion items in images, determines the category of the item (i.e., dress, sneaker, etc.), and then Pixyle AI digs deeper into the image to classify attributes (i.e., color, pattern, etc.) in the language that shoppers use. Pixyle AI has offices in Amsterdam and North Macedonia.
Source: https://www.pixyle.ai/news