Peruvian retail tech startup Price Lab raised $360k in a pre-Seed round led by iThink VC. Venture Do also participated in the round.
Price Lab will use the capital to fuel its Latin American expansion starting with Mexico, with plans of expanding its development team and enhancing its AI models.
Price Lab offers an electronic shelf label system (ESL) with real-time pricing updates, using artificial intelligence to optimize pricing and sales for both physical and online retailers.
“By simplifying manual processes and allowing Artificial Intelligence to collaborate in the pricing decisions, Price Lab is significantly improving the retail and e-commerce selling experience. This is not only about enhancing business processes and outcomes, but also offering tangible benefits to consumers,” said Vania Rivero, founder and CEO of Price Lab.
Founded in 2021, Price Lab’s client base includes companies like Repsol and Claro.
