• Macedonian startup Pixyle AI secures €1 million seed to help fashion e-commerce deliver a better search experience.
• Seed round led by South Central Ventures.
• Pixyle AI’s solution generates detailed and accurate product attributes to help consumers get their desired items faster.
Pixyle AI, a visual AI startup for e-commerce, is on a mission to connect retailers’ online audiences with the products they really want to buy.
Poor consumer product discovery experiences are costing online merchants and e-commerce companies billions of dollars by failing to meet user expectations. Pixyle AI’s solution aims to help address this issue.
Research shows that 94% of searches yield irrelevant results and 72% of sites completely fall short of search expectations.
A Macedonian startup founded by Svetlana Kordumova, who graduated in 2018 with a PhD in AI and computer vision from the University of Amsterdam, the Macedonian startup uses image recognition solutions to help fashion retailers become better and better. We help you deliver a better online shopping experience, increase your e-commerce sales and improve efficiency. Catalog management with smart product data entry.
Visual AI finds the location of fashion items in the image and determines the item’s category (dresses, sneakers, etc.). Pixyle AI then digs deeper into the image and classifies attributes (colors, patterns, etc.) in the language shoppers use.
“For example, when a visitor of your site is looking for a specific product to buy, you can type ‘a short summer dress with purple and pink florals’ to show these types of dresses to the customer. , should be tagged in the catalog with ‘short’ for length, ‘summer’ for occasion, ‘floral’ for pattern, and ‘purple’ and ‘pink’ for color. Start by building a good taxonomy. By associating appropriate metadata with product images, retailers can capture popular and long-tail searches every day,” Kordumova said in a statement.
AI solutions also enrich product data, making search results more relevant, making products easier to find, and increasing conversion rates. The tags generated by Pixyle AI can be easily absorbed into a retailer’s existing e-commerce stack, making the search and discovery platform run seamlessly and quickly, the company said.
Recruit talent across the region and expand into new areas
According to South Central Ventures’ Jan Kobler, Pixyle AI’s solution has already been tested in the market and the company is now ready to scale.
“A key part of attracting online shoppers is product search, which allows them to find what they want easily and quickly. However, search is highly underserved and until now retailers and shoppers’ unmet needs.Pixyle AI is focused on this opportunity and is already driving sales for retailers.They have built a robust tech stack and are ready for trial in the market. It’s been tested, tested and ready to scale.
The startup, which has offices in the Netherlands and North Macedonia, will use the new funding to hire people across the Western Balkans region.
“We will use this funding to hire talented people from the Western Balkans who want to join us in our journey to become the leading product data enrichment platform for e-commerce. We are expanding our offering with a suite of new and exciting AI products and offers that will help us operate more efficiently, improve site search and increase conversions,” Kordumova told The Recursive..
In addition, Pixyle AI will also focus on releasing new products using Object Character Recognition (OCR) technology. This allows clients to recognize the brand, material composition, size and country of origin as ‘manufactured’ from the label within fashion. item.
“In addition to tagging, we also provide auto-generated product descriptions that are optimized for SEO. New verticals will move to homewares and furniture by the end of 2023, and beauty and electronics by the end of 2024. We plan to move to two industries,” Kordumois concluded.
