Czech startup Buylo raises €640k for “no queues and self-checkout in 10 seconds”
Brno-based startup Buylo, which offers advanced radio-frequency identification (RFID) solutions for modern retail, has raised €640k from investment fund Purple Ventures.
The funds will support further development, continued international expansion, and the hiring of technical and sales staff. Buylo’s goal is to prove that brick-and-mortar stores can be just as efficient as online ones.
“We want to help retailers streamline operations and make shopping easier and faster for customers. Buylo is not just about cost savings; it’s about making retail data-driven, personalised, and transparent for both retailers and customers. I believe RFID is the future of retail and will soon be implemented by all major market players. Moreover, Buylo is not only effective for sales floors but also a strong tool for managing back-of-house operations.
“Thanks to this, we are expanding our client portfolio both in the Czech Republic—where we are currently implementing our solution for clients like Angry Beards—and abroad, where we’re also growing rapidly,” says Josef Voda, Co-founder and CEO of Buylo.
Founded in 2024, Buylo offers a technology that transforms and accelerates the functioning of stores and warehouses. Using RFID (radio-frequency identification) tags, sensors, self-checkout systems, and AI, it can automate inventories, detect theft, speed up sales, and track customer behaviour in real-time.
The startup was born within the Industrial IT group, which specialises in systems integration and implementing modern technologies in industry. Buylo evolved from pilot projects to collaborations with larger retail partners and has expanded internationally – for example, to the USA, where it is now part of a Czech innovation incubator.
“I never liked traditional self-checkouts where the customer essentially becomes the cashier. I thought, there’s a simpler way. It soon became clear it wouldn’t be that easy, and many people tried to dissuade me. But that only made me more determined. Thanks to RFID, we’re not only eliminating unfriendly user experiences at self-checkouts but also dramatically increasing the efficiency of entire store operations,” adds Voda.
According to Precedence Research, the global retail automation market is expected to grow from €20.6 billion in 2023 to nearly USD €61.8 billion by 2034, with an average annual
growth rate between 9 and 13%. The main drivers are pressure to reduce operating costs, emerging technologies like RFID, AI, and IoT analytics, and growing customer preference for self-service. Surveys indicate that over 66% of customers prefer self-checkouts.
According to Mordor Intelligence, the European market is expected to reach nearly €5 billion by 2030. The Czech non-food retail market alone is valued at approximately €28 billion, with Europe at about €86 billion, while global potential remains in the trillions of euros.
Buylo focuses on medium-sized retailers for whom in-house development and implementation of such solutions is not efficient.
Buylo’s technology reportedly enables store-wide inventory to be completed within minutes, without manual scanning, and helps reduce theft losses by up to 80% by integrating with camera systems and AI. It also delivers faster shopping experiences thanks to RFID-enabled self-checkout systems that scan the entire shopping basket in a second.
In addition to fast scanning at self-checkout, customers can choose to pay directly via QR codes on the products. The system can also offer personalised discounts on items they have previously viewed, thanks to in-store cameras and AI.
All data is allegedly anonymised, used only in real-time, and not stored.
“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,” says Jakub Nytra, Founder of Purple Ventures and Co-founder of the Purple Group.
Buylo has already completed its first pilot implementations and is preparing for further international expansion. In addition to the Czech Republic, it is now active in markets like Romania, Hungary, and Bulgaria through clothing stores Numero Uno, and in Slovakia through a partnership with YOYOSO, a chain offering a wide range of everyday products.
The investment from Purple Ventures will enable Buylo to expand its product portfolio and strengthen partnerships with retail equipment manufacturers. Specialized modules for fashion retail and solutions for smaller budget retailers are also in development.
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