Tastewise, an Israeli company that is developing an AI-powered platform to help food brands bring products to market based on consumer data, announced that it has secured $17 million in funding. The Series A round was led by Disruptive AI, which joins existing investors PeakBridge and PICO Venture Partners, bringing the company’s total funding to $21.5 million to date. Tastewise provides the food industry with data-driven solutions for new product development, marketing and foodservice sales. Its customer base includes Nestlé, PepsiCo, Kraft Heinz and Campbell’s, who can use Tastewise to discover new flavors and product ideas, develop content for marketing campaigns and find sales opportunities from social media data points, restaurant menus and recipes.
“The way people choose what to eat and drink is changing in the face of the global pandemic, climate change, new technologies and increased interest in health – and everything we eat in the near future will be fundamentally different” , said Alon Chen. , co-founder and CEO of Tastewise. “Tastewise is uniquely positioned to help the food industry forge this new reality. Today’s consumers need food and beverages that meet their needs and provide solutions to their problems, whether personal or global. This latest round of investment in Tastewise will allow us to bring our cutting-edge technology to more market players as we work together to create a healthier, tastier and more sustainable industry. Using AI and the largest food and drink industry dataset available, Tastewise predicted the rise of trends that influenced food and drink during the pandemic. For example, he has seen an increase in plant-based foods and animal welfare awareness; a 33% upward trend in “functional health” has been recorded since the start of 2021; and today, 19% of all U.S. restaurants are on three major delivery platforms, with nearly two-thirds citing menu changes in the past month alone. Today’s eaters and drinkers, according to Tastewise, are more informed, more discerning and more digital.
“We are extremely excited to partner with Tastewise because of the tremendous impact they have already demonstrated on the food and beverage industry and the potential we see for AI to become a key ingredient for industry resilience. for the foreseeable future,” added Izhar Shay. , former Israeli Minister of Science and Technology and now Venture Partner at Disruptive AI. “Much of what we eat and drink could change over the next few decades, and Tastewise is well positioned to help the world’s biggest food and drink brands build the future of this huge market. Our investment in Tastewise’s mission will help create endless opportunities for the entire industry, from big brands to small newcomers, to fundamentally change the market through data-driven innovation.Tastewise was founded in 2017 and helps food brands to make smarter decisions. It collects data and instantly scores food innovation from over 1 million restaurant menus and deliveries, 22 billion social interactions and 5 million home recipes. AI is a capital fund specializing in AI startups, in partnership with Israeli entrepreneurs who combine domain knowledge with technology. has AI technology. She has accompanied more than 30 entrepreneurs to date.