Pi-xcels has successfully managed to raise $1.7m in its seed funding round, and is now looking to revolutionise retail transactions with its interactive e-receipt technology.
The Singapore-based company raised the capital in the funding round led by Wavemaker Partners, with participation from other prominent venture capital firms such as Hustle Fund, Amand Ventures, and Black Kite Capital, as well as strategic angel investors.
The round marks a momentous step towards realising Pi-xcels’ vision of revolutionising the retail landscape and empowering merchants with its interactive Near Field Communication (NFC) receipt technology.
Pi-xcels CEO Daniel Lim, said: “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.”
Pi-xcels’ NFC-enabled POS device enables the issuance of interactive e-receipts in stores through a contactless tap via a smartphone, eliminating paper waste and fostering eco-friendly practices.
This can be done without the need for 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.
Furthermore, 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.
Simultaneously, Pi-xcels offers real-time, comprehensive transaction intelligence, providing valuable data-driven insights for retailers.
Andy Hwang, General Partner at Wavemaker Partners, said: “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.”
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