Pixyle AI, a fashion-focused visual AI start-up based in the Netherlands, has recently secured €1 million in seed funding to further expand its operations. The funding will allow the company to enhance its product offering, expand its geographical reach, and tap into new verticals. Pixyle AI’s primary goal is to revolutionize the search experience in fashion e-commerce by providing consumers with detailed and accurate product attributes, ultimately helping them find their desired items more efficiently. Through this, Pixyle AI aims to bridge the gap between online retailers and their target audience, boosting sales in the process.

The lack of a seamless product discovery experience is a significant challenge faced by online sellers and e-commerce companies, leading to billions of dollars in lost sales. Pixyle AI addresses this issue by offering image recognition solutions to fashion retailers. By utilizing its advanced visual AI technology, Pixyle AI can accurately identify fashion items in images and categorize them based on various attributes such as color, pattern, and style. This enables more relevant search results, ultimately increasing conversion rates for retailers.

Svetlana Kordumova, the founder and CEO of Pixyle AI, emphasizes the importance of understanding customers’ shopping intent in the search process. Through the company’s neural networks, AI algorithms can interpret images in a way that mimics human understanding. For instance, when a customer searches for a specific product, the algorithm can accurately identify attributes such as length, occasion, pattern, and color.

The COVID-19 pandemic has significantly accelerated the shift towards online shopping for clothing items, presenting a prime opportunity for Pixyle AI. The company also recognizes the potential growth of the fashion resale market and aims to contribute to the circular economy. By developing algorithms specifically for user-generated images, Pixyle AI can detect and recognize fashion items even in low-quality, homemade photos.

Pixyle AI’s research provides insights into the current inadequacies of search experiences in the fashion industry. It reveals that a staggering 94% of searches yield irrelevant results, and 72% of websites fail to meet consumers’ search expectations. This lackluster search experience often leads to customers abandoning their search and not returning. In fact, Google Cloud estimates that these poor search experiences result in approximately $300 billion in lost revenue for the US economy each year.

With the recent injection of funding, Pixyle AI is in a strong position to continue its mission of enhancing the search experience in fashion e-commerce. Leveraging its visual AI technology, the company aims to assist retailers in delivering an improved online shopping experience, driving e-commerce sales, and streamlining catalog management processes. As the demand for online shopping continues to rise, Pixyle AI is poised to make a significant impact in the fashion industry.

– Useful Links:
Pixyle AI Official Website
Pixyle AI and Google Cloud Collaboration