SGInnovate-backed Singapore foodtech firm banks $4.4m in series A money

Ai Palette, a Singapore-based foodtech startup backed by state-owned SGInnovate, announced that it has raised US$4.4 million in its latest round of funding.

More funding details

• Lead investors: Pi Ventures and Exfinity Ventures
• Returning investors: Anthill Ventures and other angel investors
• Stage: Series A

More company updates

• Ai Palette will use the fresh funds to boost its expansion plans.
• The company helps food and beverage manufacturers craft and launch new products with the help of predictive analytics, natural language processing, and image recognition.
• Currently, it is working with household names like Danone, Kellogg’s, Cargill, and Dole.
• The Singapore-based firm’s platform supports 15 languages and provides services across 13 countries.
• In August 2019, Ai Palette raised US$1.1 million in a seed round led by cross-border venture funding initiative Decacorn Capital. SGInnovate and Silicon Valley agritech-focused venture capital firm AgFunder had also participated in the round, among others.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.