Pixyle AI, a fashion-based visual AI start-up headquartered in the Netherlands, recently secured €1 million in seed funding to expand its operations and offerings. The company is dedicated to enhancing the search experience for online audiences and connecting them with the products they intend to purchase.
Specializing in image recognition solutions for fashion retailers, Pixyle AI enables better online shopping experiences, increased e-commerce sales, and improved efficiency in catalogue management. By utilizing its visual AI technology, the company can identify fashion items in images, categorize them, and classify attributes like color and pattern. This enriched product data significantly improves the relevance of search results, resulting in higher conversion rates.
Pixyle AI’s AI algorithms are designed to interpret images in a similar manner to humans. This allows the system to understand customers’ shopping intent and provide accurate search results. For instance, if a customer is seeking a short summer dress with a floral print in purple and pink, Pixyle AI’s technology can tag relevant dresses with attributes such as length, occasion, pattern, and colors.
Svetlana Kordumova, the founder and CEO of Pixyle AI, emphasized the crucial role of understanding customers’ shopping intent in search. She highlighted the company’s focus on training AI algorithms using neural networks to ensure precise image interpretation. Kordumova also acknowledged the continuous growth of online clothes shopping and mentioned Pixyle AI’s potential to contribute to the fast-growing fashion resale market and support the circular economy.
According to research conducted by Pixyle AI, a significant percentage of search results in fashion e-commerce are irrelevant, which often leads to users abandoning their search and potentially not returning to the website. Google Cloud’s study estimates that poor search experiences result in an annual loss of $300 billion in revenue in the US.
With the newly acquired funding, Pixyle AI aims to address these issues and revolutionize the fashion e-commerce industry. By providing accurate and detailed product attributes, the company facilitates consumers in finding their desired items more easily, while assisting retailers in increasing conversion rates and sales. As Pixyle AI continues to expand its reach, it is expected to have a significant impact on the future of fashion e-commerce.
Useful links:
– Pixyle AI Official Website
– Google Cloud
