Ai Palette is a Singapore-based startup in the Food and Beverage industry, founded in 2018. The company offers an insights-driven concept-to-launch platform leveraging Artificial Intelligence and Machine Learning to enable consumer packaged goods companies to create winning products. Ai Palette's patented technology analyzes over 61 billion data points from 150+ data sources in real time, uncovering consumer trends and motivations to develop product concepts that meet unmet consumer needs. The company's Natural Language Processing algorithm supports 18 languages, including Asian languages, setting it apart in the market.
Through Ai Palette, CPG companies can quickly access consumer trends and insights without traditional market research, leveraging a vast pool of data points to stay aligned with the dynamic consumer landscape. Additionally, they can integrate 1st, 2nd, and 3rd-party data sources to accelerate research, create compelling product concepts tailored to their target audience, and validate hypotheses with sales and consumer data. Ai Palette has also ventured into forecasting sales for new product launches and supports market penetration strategies backed by consumer data.
The recent milestone for Ai Palette includes a $5.80M Series A investment on March 4, 2024, from notable investors including Exfinity Technology Fund, pi Ventures, and Tin Men Capital. The company has solidified its position by collaborating with major players in the industry, including Kelloggs', Nestle, Olam, and Diageo.
In summary, Ai Palette's innovative approach to product development, coupled with its strategic partnerships and recent investment, positions it as a promising contender in the CPG industry, with the potential to continue disrupting traditional market research and product conceptualization methods.
