Tin Men Capital Backs Ai Palette: Spearheading Beauty & Personal Care Innovation with Generative AI Breakthroughs

Ai Palette Founders: Somsubhra GanChoudhuri and Himanshu Upreti

Ai Palette: Insights-driven Concept to Launch Platform

Transforming BPC Innovation: Ai Palette Secured $5.8M in Series A1 funding led by Tin Men Capital for Generative AI Breakthroughs!

SINGAPORE, March 6, 2024 /EINPresswire.com/ — Ai Palette, a pioneer in the realm of integrating Artificial Intelligence and Machine Learning for Consumer Packaged Goods (CPG) development, proudly announces the addition of esteemed investors Tin Men Capital, heralding a momentous expansion into the Beauty and Personal Care (BPC) sector alongside a significant stride forward in Generative AI technologies. Tin Men Capital’s injection will complete a total of US$5.8M in this Series A1 funding round.

The unwavering support from existing investors – Exfinity Ventures and Pi Ventures – underscores Ai Palette’s commitment to innovation and its vision of reshaping the CPG landscape.

This investment is a significant stride for Ai Palette, opening up a whole new era in Beauty and Personal Care product development. Their partnership with Himalaya Wellness Worldwide showcases Ai Palette’s knack for using data to ride the wave of booming markets like beauty and personal care. It’s like a sneak peek into the future of creating products that truly resonate with consumers, breaking away from the industry’s usual mold. And with this injection of funds, Ai Palette is set to supercharge its Generative AI capabilities, particularly with their widely recognised FoodGPT offering.

“Having new investors on board always reinforces a company’s growth objectives, and with Tin Men Capital joining us, we’re fully committed to expanding our successes into new categories and countries,” expressed Somsubhra Ganchoudhuri, Co-founder, and CEO of Ai Palette. “Our venture into the BPC sector, supported by our advancements in Generative AI, marks a significant step forward in our mission to streamline product development and cater to the evolving demands of consumers. This allows companies to focus on customer-centric product development strategies without the burden of sourcing unreliable data from various channels or investing in research that may not yield successful products. Our aim is to cover the entire journey from concept to launch, making Ai Palette the preferred choice for CPG brands. With this investment, we’re poised to broaden our market reach significantly and strengthen our team with top-tier talent. Exciting times are ahead as we leverage our strong market position to drive hypergrowth.”

Turning Challenges into Opportunities: The Story of Ai Palette’s Beginnings

Established in 2018 by Somsubhra GanChoudhuri and Himanshu Upreti, Ai Palette is led by Som, CEO, boasting 7 years of sales and marketing experience at Givaudan, the world’s largest flavor & fragrance house. Himanshu, CTO, brings expertise in advanced Machine Learning and Big Data Analysis, having filed two trade secrets during his tenure at Visa Data Labs. Ai Palette was born from their observation of brands bleeding funds on unsuccessful products due to unreliable data, tight deadlines, and limited resources. Recognizing this opportunity, they aimed to revolutionize CPG product innovation through data utilization.

The last 5 years have seen enormous success with CPG brands crafting their next breakthrough products using Ai Palette. It enables them to monitor emerging trends in real-time, predict their trajectory, and swiftly adapt to changing needs. Going beyond trend tracking, the end-to-end platform assists in generating product concepts and dynamically ranks them to identify winning ideas, all in record time. Industry giants like Nestle, Mondelez, Diageo, Cargill, and Himalaya Global trust Ai Palette throughout their product innovation process to conceptualize new products, optimize product portfolios, localize product lines and strengthen reason-to-believe propositions.

Employing proprietary technology blending Predictive Analytics, Natural Language Processing, and Computer Vision, Ai Palette analyzes over 61 billion data points monthly in 18+ languages. The result? They have been able to significantly reduce product development timelines by up to 6 months for multiple brands while bringing down the investment in traditional market research.

A Commitment to Excellence in Enterprise Solutions
As Ai Palette accelerates its efforts to expand its services for top-tier CPG conglomerates such as Nestle, Kelloggs, Cargill, Diageo, and now Himalaya Wellness Worldwide, it is empowering these companies to harness AI across their global operations, fundamentally enhancing their operational frameworks. With a comprehensive range of solutions encompassing data from 87% of the global GDP, Ai Palette is establishing a new standard in the industry. It provides unmatched real-time insights, offering a significant competitive advantage in product development.

Fostering a Secure and Scalable Environment for Global Growth:

1. Rigorous Security: Ai Palette ensures top-tier security, safeguarding sensitive data and complying with global regulations for client peace of mind.
2. Brand Integrity: Ai Palette seamlessly integrates solutions to preserve and enhance brand identities while fostering innovation and growth.
3. Tailored Support: Ai Palette offers personalized consulting support for large-scale enterprises, from implementation to ongoing assistance, ensuring maximum efficiency and success.

“Choosing to invest in Ai Palette was very easy for us. The projected growth of the Beauty and Personal Care Products market, expected to rise to USD 939.87 billion by 2030, sets the stage for remarkable opportunities for Ai Palette. Their solution represents a masterful blend of cutting-edge technology and an acute understanding of customer pain points, reshaping conventional processes in the industry. By compressing product development timelines by up to 6 months, Ai Palette exemplifies strategic innovation for a traditional industry. Moreover, their ability to deliver real-time insights derived from a vast dataset of over 61 billion data points empowers businesses to capitalize on nuanced consumer trends across various demographics and geographical regions. This not only enhances success rates but also propels revenue growth through swift market penetration strategies,” articulated Jeremy Tan, Co-Founder and Partner at Tin Men Capital.

About Ai Palette:
Ai Palette is an insights-driven platform for the Consumer Packaged Goods (CPG) Industry, offering real-time trend tracking and rapid product concept creation. Trusted by global CPG leaders like Nestle, Kelloggs, and Diageo, Ai Palette’s technology utilizes predictive analytics and natural language processing to process over 61 billion data points, delivering insights in 18+ languages. In 2023, Ai Palette launched FoodGPT, a pioneering Generative AI tool for the F&B industry, receiving immediate acclaim. Headquartered in Singapore with an engineering hub in India, Ai Palette serves a global clientele from its sales headquarters in the United States.

Divya Sharma Dixit
Ai Palette
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube

Ai Palette: Insights Driven Concept to Launch Platform