Brno-based Buylo, a startup offering advanced RFID solutions for modern retail, has secured €640k in funding. Investment fund Purple Ventures led the round. This capital will fuel Buylo's further development and international expansion.
Founded in 2024, Buylo develops technology transforming store and warehouse operations. It utilizes RFID tags, sensors, self-checkout systems, and AI. This system automates inventories, detects theft, accelerates sales, and tracks customer behavior in real-time.
Advancing Frictionless Retail Experiences
The investment will support hiring technical and sales staff. Buylo aims to prove brick-and-mortar stores can match online efficiency. Furthermore, the company is expanding its client portfolio in the Czech Republic, with clients like Angry Beards, and rapidly growing abroad.
Buylo's technology completes store-wide inventory in minutes without manual scanning.
The global retail automation market is projected to reach nearly €61.8 billion by 2034. Buylo focuses on medium-sized retailers, offering solutions more efficient than in-house development. Unlike traditional self-checkout systems, Buylo's RFID-enabled solution scans entire baskets in one second, similar to frictionless stores like Amazon Go. This approach also helps reduce theft losses by up to 80% by integrating with camera systems and AI, a challenge also addressed by companies like Trigo.
Customers can also pay via QR codes on products. The system offers personalized discounts on previously viewed items, leveraging in-store cameras and AI. Buylo is active in markets including Romania, Hungary, and Bulgaria through Numero Uno, and Slovakia via a partnership with YOYOSO. This retail innovation is also part of a Czech innovation incubator in the USA, showcasing the reach of Czech startups.
