Buylo, a Czech startup which offers advanced RFID solutions for modern retail, has secured €640,000 investment from Purple Ventures. Buylo’s goal is to prove that brick-and-mortar stores can be just as efficient as online ones. The company shared the news with AIN.
About Buylo
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Buylo is a retail-tech startup that develops RFID- and AI-powered solutions to automate inventories, reduce theft, and speed up shopping experiences.
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Originating from the Industrial IT group, the company has expanded internationally, with pilots and partnerships across Europe and the US.
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Its technology enables real-time store monitoring, instant self-checkout, and personalized customer offers, while ensuring data privacy.
“Retail is a sector with a huge volume of money, but data culture has been slow to take hold. Buylo offers a solution that not only reduces costs and increases sales, but more importantly, gives retailers control. And since it’s being developed in the Czech Republic by a smart and driven team, the investment was a clear choice for us,” states Jakub Nytra, founder of Purple Ventures and co-founder of the Purple Group.
Investment details
The round was led by Purple Ventures, a Brno-based venture capital firm that invests in early-stage, tech-enabled startups across Central and Eastern Europe.
The funds will support Buylo’s further development, continued international expansion, and the hiring of technical and sales staff.
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