Heaptalk, Jakarta — A Tech startup that enables Consumer Packaged Goods (CPG) companies to create consumer-winning products using Artificial Intelligence (AI) and Machine Learning, Ai Palette has accomplished a new injection worth US$4 million from Singapore’s Tin Men Capital. This investment is claimed to complete a total of US$5.8 million in this Series A1 round.
As the CEO and Co-Founder of Ai Palette, Somsubhra GanChoudhuri conveyed that the company aims to simplify the entire journey from concept to launch, positioning the startup as the go-to choice for CPG brands. With this funding, he intends to significantly expand this tech startup market reach and enhance our team with top-tier talent.
“We are excited and looking forward to working with Tin Men Capital. We hope to empower companies to prioritize customer-centric strategies without the hassle of time-consuming data sourcing or potentially investing in redundant research that may not yield successful results,” Somsubhra said.
Ai Palette’s clients include several CPG enterprises in the food and beverage sector, spanning Fortune 500 behemoths such as Nestle, Danone, and Kellogg’s. With the new injection, Ai Palette aims to broaden further into the beauty and personal care, as well as nutraceutical categories, which began development in November 2023, and to fuel their global expansion in North America, Europe, and APAC region along with supercharging its generative AI capabilities, particularly with their recognized FoodGPT offering.
Assisting consumers within minutes
Based in Singapore, Ai Palette’s multimodal AI-powered platform caters to the CPG industry, specializing in food and beverage, 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.
Ai Palette’s patented technology can identify emerging trends across 61 billion data points collated from 150+ data sources in real-time, uncovering consumer drivers and motivations, as well as bolstering consumers in creating product concepts and validating them to address unmet consumer needs. The platform utilized a Natural Language Processing algorithm that can also understand 18 different languages, including Asian languages.
As a result, the platform is claimed to drastically improve the costs and efficiency associated with development of new product entries, product line expansion, identification of new demand spaces, portfolio optimization and product repositioning.
“The unique application of Generative AI also removes bias while enabling enterprise clients to drastically improve success rate of product development and maximize revenue through speed to market. We are excited to have the opportunity to back Ai Palette in setting a new benchmark for Enterprise Grade solutions that will position them as a leader in the future of CPG development,” Tin Men Capital’s Co-Founder, Jeremy Tan, voiced.
