# Palexy Pte

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/palexy-pte

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.palexy.com
- Total disclosed funding: $0.3M
- Latest round: Seed (May 9, 2024)
- Investors on record: 1

## About

Palexy Pte Ltd is a Singapore-based company that provides advanced retail solutions utilizing Visual AI technology to enhance operational efficiency and customer engagement.Founded in 2019 and headquartered in Singapore, Palexy Pte Ltd specializes in retail technology solutions. The company has shifted its focus towards leveraging AI for improving retail operations. The current CEO, Thong Do, has been instrumental in steering the company’s vision. Palexy has raised a total of USD 0.35 mn in funding, with its latest seed round occurring on May 9, 2024, led by Do Ventures. The company has completed two deals to date, with a current valuation of USD 7.236 mn.Palexy specializes in advanced retail solutions that enhance operational efficiency and customer engagement through its Visual AI platform. The company's offerings include the Traffic Counter 2.0, Automated Staff Scheduler, Store Optimizer, Remote Store Auditor, and Cashier Fraud Detector. These products are tailored to address challenges in the retail sector, particularly in sportswear, footwear, jewelry, and health and beauty markets, serving clients primarily in Thailand and Vietnam, while also catering to retailers in other regions.In 2022, Palexy reported a revenue of USD 609,009.80 and an EBITDA of USD -326,861.90. The company's revenue model focuses on B2B transactions with retailers, offering subscription services for its Visual AI platform, which provides ongoing access to product updates and support through annual and multi-year contracts.To support its future growth, Palexy aims to expand its product lineup with new offerings scheduled for release in the upcoming year. The company is also targeting market expansion into additional regions within Southeast Asia by the end of 2025. The recent seed funding of USD 350,000 raised in May 2024 will be utilized to enhance product development and support market entry initiatives.

## Funding rounds

- Seed, May 9, 2024, $0.3M — Do Ventures

## Investors

- Do Ventures (https://capitalatlas.ai/funds/do-ventures) — Seed