The Singapore-based AI foodtech startup company Ai Palette gets US$1.45 million seed funding from major investors.
Ai Palette is the world’s first Artificial Intelligence (AI) platform for FMCG Product Innovation. It uses AI and machine learning to draw insights from millions of data points to identify consumer needs in real-time and combine it with the brand personality to create winning food product concepts.
With the vision of reimagining New Product Development and make it as seamless as possible, Ai Palette has built solutions using deep learning and big data analytics to address the challenges in the different stages of food product innovation, catering to consumer’s winning products – faster and better.
The said seed funding was led by Decacorn Capital – the new buzzword of the start-up world. Singapore’s government that helps entrepreneurial scientist build deep tech startups SGInnovate and the online AgriFoodTech Venture Capital Platform AgFunder also participated in the seed funding.
According to Ai Palette, they plan on using the funding to focus on growing customers across various markets.
Somsubhra GanChoudhuri, co-founder of Ai Palette said, “Our product is designed for global relevance and we are glad to have Decacorn Capital, whose cross border reach can help us gaining traction, especially across Europe and the USA.”
Ai Palette was founded by Himanshu Upreti and Somsubhra GanChoudhuri in 2018.