Singapore-based foodtech startup Ai Palette Tuesday brought $4.4 million up in a Series A round drove by pi Ventures and Exfinity Ventures. The startup will utilize the assets to foster its foundation and grow its customer base around the world.
The round additionally saw cooperation from Hyderabad-based Anthill Ventures and existing financial backers, including Silicon Valley-based trading company AgFunder, among others.
Speaking on the development, Somsubhra GanChoudhuri, CEO and Co-founder, Ai Palette, said,“Demand for Ai Palette’s solution grew through the pandemic, and this demand is only going to continue as the consumer goods sector accelerates digital transformation and AI adoption. From day one, we designed our technology to be relevant globally, and this puts us in a strong position to revolutionise the CPG product development space, where AI can create a $53 billion impact.”
Established in 2018 by Somshubra and Himanshu Upreti, Ai Palette helps FMCG organizations anticipate drifts and comprehend why a portion of their items probably won’t be working.
As of now, the startup professes to work with a couple of organizations, including Kellogs, Danone, Kellogg’s, Cargill, and Dole. It plans to installed somewhere around 10-20 organizations in the coming months.