Tastewise raises $5 million in a funding round led by PeakBridge
By Nikita Chaurasia  Date: 2019-09-27

Tastewise raises $5 million in a funding round led by PeakBridge

Tastewise to develop its food intelligence platform with the new funding.

An intelligence startup Tastewise, that offers data, analytics and insights platform for food brands and restaurants, recently announced that it has collected USD $5 million in a Series A funding round led by an investment firm specializing in FoodTech, PeakBridge. Previously in 2018, Tastewise raised USD $1.5 million in seed funding by Pico Venture Partners. At present, the total funding amount raised by the firm amounts to USD $6.5 million to date.

Reportedly, the recent funding will be utilized to further develop the firm’s AI technology that is focused on understanding human preferences for food, such as the impetuses behind why people prefer or choose certain foods over others. However, by breaking down data to discover consumer interest, Tastewise will not only know about foods that are trending, but also why they are in trend.

Aiming at the platform expansion, the food tech company will further train its AI to decipher the human motivation around food inclinations and associated trends to provide insights, which is estimated to shape the future of food industry.

As per sources close to the matter, Tastewise has gained actionable insights into real-life human interactions with food by evaluating more than 1 billion food photos shared every month with the largest restaurant menu database available today (U.S.).

Moreover, the firm is working with Fortune 500 food & beverage brands to determine market opportunities and is well-informed to identify potential industry gaps to fill in for rising trends such as virtual restaurants.

Erich Sieber, Founder and Managing Partner, PeakBridge, was reported to state that PeakBridge is committed to supporting firms that are focused on high-impact food technology insights & solutions. Tastewise is one of those promising companies and is focused to expand its AI offering development to gain deeper insights of trends and factors that will transform the future of food industry.

Sieber added saying that Tastewise is certainly a company that is on the path of revolutionizing the food industry with deep understanding of human food preferences based on consumer data.

Source credit: https://www.prnewswire.com/news-releases/tastewise-raises-5-million-series-a-funding-round-from-leading-foodtech-investor-peakbridge-accelerating-expansion-of-ai-powered-food-trends-and-intelligence-platform-300925164.html

About Author

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Russia Successfully Launches its Upgraded Glonass Navigation Satellite
Russia Successfully Launches its Upgraded Glonass Navigation Satellite
By Nikita Chaurasia

Russia announced that with a Soyuz-2.1b rocket and Fregat upper stage, it has successfully delivered its advanced Glonass navigation satellite to an orbit almost 12,000 miles above the Earth's surface. This new satellite joins the presently acti...

VSPN raises nearly $100 million from the Series B investment round
VSPN raises nearly $100 million from the Series B investment round
By Nikita Chaurasia

VSPN (Versus Programming Network), a leading esports tournament organization services provider, has reportedly raised nearly $100 million through a Series B investment round. Tencent Holdings, the renowned Chinese conglomerate, led the investment rou...

Tata Consultancy, dotin Inc. partner to develop Workforce Analytics
Tata Consultancy, dotin Inc. partner to develop Workforce Analytics
By Nikita Chaurasia

Indian multinational information technology services provider Tata Consultancy Services (TCS) Ltd. has reportedly signed a joint venture agreement with dotin Inc. to develop TCS Workforce Analytics, an innovative workplace experience solution. Accor...

Nokia, Greener Acres partner to boost smart city development in Canada
Nokia, Greener Acres partner to boost smart city development in Canada
By Nikita Chaurasia

According to reliable sources, Finnish multinational telecommunication, consumer electronics and information technology company Nokia Corp. has reportedly signed an agreement with Greener Acres Canada Inc. to collectively develop and upgrade the util...

OneOncology launches OneR to accelerate clinical research programs
OneOncology launches OneR to accelerate clinical research programs
By Nikita Chaurasia

In recent developments, Tennessee-based oncology medical service provider OneOncology Inc., has reportedly announced the establishment of a newly formed subsidiary named OneR (OneOncology Research Network). Sources close to the matter claimed that O...