ProfilePrint, a Singapore-based AI-driven ingredient quality detection company, has concluded its Series B funding round, led by Tai Partners.
Four of its existing shareholders also participated in the round, the size of which is undisclosed.
The funds raised will help the company expand its mission to “revolutionise” the agrifood sector through AI.
Also Read: Wake up and smell the coffee: Check your coffee beans’ quality using ProfilePrint’s AI tool
ProfilePrint’s AI-powered food fingerprint platform is powered by a patented digital food Identity-as-a-service (IDaaS) technology. It synthesises complex molecular data of ingredient samples into digital fingerprints, rapidly predicting its identity and quality, helping agribusinesses to buy and sell better.
The company’s solutions have been deployed in nearly 50 locations across six continents globally.
Starting with coffee detection technologies, ProfilePrint has moved into other verticals, such as cocoa, tea, juices, and edible oils, and will launch its latest flagship feature, Verify. This tool lets clients send digitalised sample reports through the ProfilePrint Platform and facilitates instant viewing and approval of sample quality, eliminating the cumbersome process of sending physical pre-shipment samples for evaluation. This enhances efficiency and significantly saves time and cost for all parties involved.
Early this year, ProfilePrint and Swiss farm-to-roaster coffee company Sucafina announced a co-investment in Brazilian image recognition company Csmart. A few months earlier, the Singaporean firm onboarded US-based global food supplier giant Cargill as a strategic investor.
Also Read: ProfilePrint predicts quality of food sample ‘within seconds’, closes Series A financing
Previously, ProfilePrint closed two rounds of financing, including a Series A round in February 2022 from Louis Dreyfus Company (Netherlands), Olam Food Ingredients (an operating group of Olam International Limited, Singapore), Sucafina (Switzerland), a Southeast Asian agrifood conglomerate (Indonesia), Greenwillow Capital (Singapore), and Real Tech Global Fund (Japan). In 2021, it closed a pre-series A from Glocalink Singapore, Leave-a-Nest, and SEEDS Capital.
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