Consumer goods enabler Ai Palette bags US$4 million from Tin Men

SINGAPORE headquartered tech startup Ai Palette has raised US$4 million from B2B-focused Tin Men Capital, bringing its total Series A1 funding to US$5.8 million.

Beyond the injection, Tin Men will also provide Ai Palette with strategic referrals, operational advisory and founders support to uncover more growth opportunities, said the venture capital on Wednesday (Mar 6).

With offices in both the US and India, Ai Palette uses artificial intelligence (AI), as well as machine learning to enable consumer packaged goods companies to capture consumption trends, generate product ideas and improve cost efficiency.

With the new funds, the startup aims to expand further into the beauty and personal care, as well as nutraceutical space. It also plans to expand in North America, Europe and Asia-Pacific regions, while improving its generative AI capabilities.

Its current clients include food and beverage giants Nestle and Kellogg’s.

“Ai Palette’s patented technology is able to identify emerging trends across 61 billion data points collated from 150+ data sources in real time,” said Tin Men, noting that its natural language processing algorithm can also understand Asian languages.

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Somsubhra GanChoudhuri, chief executive and co-founder of Ai Palette, said: “Our goal is to streamline the entire journey from concept to launch, positioning Ai Palette as the go-to choice for consumer packaged goods brands.”