Israeli startup Tastewise offers a new artificial intelligence AI powered platform that helps businesses in the food and beverage industries better understand what consumers want. The company has brought in $17 Million in a Series A round of investment led by Disruptive AI. To date, Tastewise has brought in a total of $21.5 million in investments to date.
Have you ever tried a candy bar that tasted awful? Do you remember when Pepsi had that clear regular Pepsi that tasted the same? And depending on your age you may have never even heard of candy bars like the Marathon Bar, Pumpkin Spice M&M’s or the Milky Way Lite. The list goes on and on but the point remains the same: all of these products failed because major manufacturer’s did not understand what the public really wants. This is where Tastewise comes into the picture.
Founded in 2017, Tastewise is an AI platform that food brands use to make “smarter decisions for a healthy, sustainable, and delicious future.” And this is not limited to just candy and soft drinks. It includes any and all manner of edible products. Plenty of new lines of frozen or canned processed foods have also fallen flat when first introduced to the market place.
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Tastewise works with food brands, manufacturers, ingredient companies, and flavor houses, including Nestlé, PepsiCo, Givaudan, Campbell’s, and Kraft Heinz, to help them with their new product development, build marketing strategies, and accelerate sales in retail and restaurants.
“The way people choose what to eat and drink is transforming 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. Tastewise is uniquely positioned to help the food and beverage industry forge this new reality,” says Alon Chen, Co-Founder and CEO of Tastewise. “Today’s consumers require food and beverage that responds to their needs and provides solutions to their problems – from the personal to the planetary. This latest round of investment in Tastewise will enable us to take our cutting-edge technology to more players in the market as we work together to create a healthier, tastier, and more sustainable industry.”