Pi-xcels – a leader in digital receipt solutions – announced recently that it had completed its seed funding round, raising US$1.7 million. The funding round was led by Wavemaker Partners, with participation from other prominent venture capital firms such as Hustle Fund, Amand Ventures, Black Kite Capital, and strategic angel investors.
This funding round marks a meaningful step towards realizing Pi-xcels’ vision of advancing the retail landscape and empowering merchants with its interactive Near Field Communication (NFC) receipt technology. And it coincides with Pi-xcels’ recognition as the recipient of the Tokyo Metropolitan Government Green Finance Subsidy Grant and acceptance into the Visa Accelerator program.
Pi-xcels’ NFC-enabled POS device enables the issuance of interactive e-receipts in stores through a contactless tap via smartphone, which eliminates paper waste and fosters eco-friendly practices. This can be done without app downloads, QR code scans, or personal information sharing, enhancing the shopper experience. It also simplifies the compilation of e-receipts for official claims with a single sign-on, resulting in clutter-free wallets for end-users.
The interactive receipt serves as a gateway to omni-channel marketing, enhancing pre- and post-sale experiences for shoppers and providing retailers with expanded marketing avenues. And Pi-xcels offers real-time, comprehensive transaction intelligence, providing valuable data-driven insights for retailers.
The new funding round will fuel global business development initiatives, significantly expanding Pi-xcels’ footprint in Europe and driving critical projects in Japan and Southeast Asia.
Pi-xcels has partnered with global brand names like payment terminal company Ingenico. And the company also witnessed a surge of interest from major corporations in the Asia-Pacific region, as evidenced by non-disclosure agreements alluding to significant market demand.
KEY QUOTES:
“Pi-xcels is shaping the future of retail with paperless receipts and data-centric shopper journeys. We are among the few use cases of NFC beyond payments. Not only does our app-less technology enhance customer experiences, it also equips retailers with valuable data to better understand and cater to customers’ preferences.”
“We are focused on advancing our research and development capabilities and strengthening our engineering team with the newly raised capital. This will enable us to be consistent in our delivery of innovative solutions to customers and partners in key markets like Japan, Spain, Indonesia, and beyond.”
— Pi-xcels CEO Daniel Lim
“Pi-xcels makes it seamless for businesses and payment platforms to adopt digital receipts. Apart from making the process frictionless for consumers, the solution is already integrated with payment terminals, making it easy for merchants to adopt. The company’s technology, fortified by patents, positions Pi-xcels as an industry leader. We foresee this technology setting a new standard for retail and inspiring businesses to embrace eco-friendly solutions, contributing to a more sustainable future.”
— Andy Hwang, General Partner at Wavemaker Partners
