Decacorn Capital led a US$ 1.1M seed funding round in Singapore based food-tech startup Ai Palette with participation from Singapore Sovereign venture funding initiative “SGInnovate" and co-investment from California based food-tech fund “Agfunder"; UK based "Entrepreneur First"; together with senior professionals of multinational food and consumer brands chipping in their personal capacity.
The news received wide media coverage
Ai Palette uses a combination of Artificial Intelligence(AI), computer vision and Natural Language Processing (NLP) and predictive analytics to identify emerging food trends and help multinational fast moving consumer goods (FMCG) companies save millions of dollars from botched product launches in the $4 trillion FMCG industry.
With 39 unique factors built into their algorithms, Ai Palette allows brands to predict and identify food and flavour trends even as they emerge, thus reducing significant time it takes these companies to create and launch successful products.
Ai Palette is the latest startup in Decacorn Capital’s portfolio of 19 live investments spread across USA, Israel and Singapore, which includes 6 Unicorns(>$1B) / Decacorns (>10B)