Tastewise, a Tel Aviv, Israel-based AI-powered food trends prediction and intelligence startup, raised $5M in Series A funding.
The round was led by PeakBridge. Peakbridge Venture Partner Rick Borenstein, Chairman of Sequoia Partners and former President of Wells Fargo Investment Company, will join as Tastewise’s board member.
The company intends to use the funds to further develop AI technology.
Founded by former Alon Chen and Eyal Gaon, Tastewise provides an AI-powered food trends prediction and intelligence platform focused on understanding human interactions with food, such as the motivations behind why people select and prefer certain foods over others. By breaking down data to the specific functions that interest consumers, the system knows what foods are trending and why.
With the platform expansion, Tastewise will further train its AI to comprehend the deep human motivation around food trends, with insights that will shape the future of the industry.
The company gains actionable insights into real-life interactions with food by analyzing over 1 billion food photos shared every month together with the largest restaurant menu database available today (over 180,000 restaurants in the U.S.).
Tastewise already works with Fortune 500 food and beverage brands and plans to expand the AI technology platform’s visual analysis of images to provide more proactive insights on emerging trends in the culinary industry.