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     aeresearch.net

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

BMW Group to opt for green steel in vehicle production from 2025

BMW Group to opt for green steel in vehicle production from 2025

By Nikita Chaurasia

As climatic changes and other environmental issues take center stage, the BMW Group, to minimize carbon dioxide (CO2) emissions at the core of its supply chain, has reportedly agreed to use green steel from Swedish firm H2 Green Steel beginning in 20...

Apple unveils 16-inch MacBook Pro with high-performance M1 processors

Apple unveils 16-inch MacBook Pro with high-performance M1 processors

By Nikita Chaurasia

Tech giant Apple, Inc. has recently unveiled the 16-inch MacBook Pro, which promises extraordinary design and performance. The model can be customized with the all-new M1 Pro and M1 Max processors.    These new 10-core processors are ...

Kedrion Biopharma expands to North America with Prometic acquisition

Kedrion Biopharma expands to North America with Prometic acquisition

By Nikita Chaurasia

Prometic Life Sciences has developed the first FDA-approved treatment for Congenital Plasminogen Deficiency. This acquisition will enable easy access to advanced therapies for patients suffering from this rare disease. Kedrion Biopharma Inc. has...

Facebook Pages to reduce focus on Likes and followers for Indian users

Facebook Pages to reduce focus on Likes and followers for Indian users

By Nikita Chaurasia

Facebook Inc. has reportedly removed Likes from Facebook Pages for its Indian users to make the platform more user-friendly and easier to understand. This redesign of Facebook Pages was launched in January 2021 and has been rolled out for Indian user...

Merchant commerce platform Pine Labs eyeing USD 1 Bn Nasdaq listing

Merchant commerce platform Pine Labs eyeing USD 1 Bn Nasdaq listing

By Nikita Chaurasia

India is likely to witness a record number of IPOs this year, with several companies eyeing public listing to raise funds if the market sentiment remains positive. One such company, Pine Labs is reportedly planning to list itself on Nasdaq by October...