Ai Palette nets US$5.8M to empower CPG brands with real-time insights into consumer trends

Ai Palette, a Singapore-incorporated startup enabling consumer packaged goods (CPG) companies to create products using AI and machine learning technologies, has bagged US$4 million in equity financing from local VC firm Tin Men Capital.

This brings the capital raised by the AI startup in the Series A extension round to US$5.8 million.

Also Read: How AI Palette wants to help CPG companies develop products faster and easier with AI

With the fresh funds, Ai Palette looks to expand further into the beauty & personal care and nutraceutical categories, which began development in November 2023. The injection will also fuel its global expansion in North America, Europe and the APAC regions and supercharge its Generative AI capabilities.

“Our goal is to streamline the entire journey from concept to launch, positioning Ai Palette as the go-to choice for CPG brands. With this investment, we’re primed to expand our market reach significantly and enhance our team with top-tier talent,” said Somsubhra GanChoudhuri, CEO and Co-Founder of Ai Palette.

Headquartered in Singapore with offices in the US and India, Ai Palette provides a multimodal AI-powered platform catering to the CPG industry in the F&B, beauty and personal care, and nutraceutical products.

The platform enables real-time identification of emerging consumer trends with contextual understanding and generates and screens product ideas within minutes. This improves the costs and efficiency of developing new product category entries, product line expansion, identification of new demand spaces, portfolio optimisation and product repositioning.

Its patented technology can identify emerging trends across 61 billion data points collated from 150-plus data sources in real time, uncovering consumer drivers and motivations and helping create product concepts and validate them to address unmet consumer needs. It utilises a Natural Language Processing algorithm that can also understand 18 different languages, including Asian languages.

Also Read: Foodtech startup Ai Palette gets US$1M seed funding from Decacorn Capital, others

The startup’s clients include Fortune 500 giants such as Nestle, Danone, and Kellogg’s.

“Ai Palette’s solution is a classic example of a masterful blend of cutting-edge technology and an acute understanding of customer pain points to revolutionise traditional processes. Their solutions materially shorten product development timing for the CPG industry by as much as 6 months. The unique application of Generative AI also removes bias while enabling enterprise clients to drastically improve product development success rate and maximise revenue through speed to market,” said Jeremy Tan, Co-Founder of Tin Men Capital.

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