Lokesh Choudhary · · 1 min readSG-based Ai Palette lands $4m to fuel global growth
AI Palette’s leadership team / Photo credit: AI Palette
Consumer demand and behavior have been changing rapidly over the past couple of years, especially with the coming and going of the Covid-19 pandemic.
To help businesses come out with products that customers can resonate with, Singapore-based SaaS platform Ai Palette has turned to AI. One of its offerings, an F&B-focused virtual assistant named FoodGPT, allows its clients to see emerging consumer trends in real time.
Tin Men Capital, a VC firm from Singapore, has recently pumped US$4 million into Ai Palette, bringing the total raised in its series A1 round to US$5.8 million.
Founded in 2018 by Somsubhra GanChoudhuri and Himanshu Upreti, Ai Palette focuses mainly on the F&B industry.
Using natural language processing in over 18 languages, it pinpoints unmet consumer needs with the help of predictive analytics.
As the AI in F&B market is expected to grow 5x to US$49 billion globally by 2029, Ai Palette hopes to tap into this opportunity through its expansion. The company – which counts industry mainstays like Nestle and Kellogg’s as clients – aims to expand its beauty and nutraceutical offerings and enter markets in North America, Europe, and Asia Pacific.
See Also: What I learned about genAI from failing to scale my AI startup
Editing by Miguel Cordon and Dhania Putri Sarahtika
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