Singapore, 2nd May 2024 –Ai Palette, a leading provider of AI-powered solutions mapping the concept to launch journey for the consumer packaged goods (CPG) industry, has announced the successful closure of its Series A1 extension round, securing $500K in funding from Orzon Ventures. This infusion of capital represents a significant stride for the company, fortifying its position as a frontrunner in AI-driven product development and business product portfolio optimization.
Ai Palette’s technology and AI- first platform empowers CPG companies to streamline their new product development processes, optimize product portfolio, and enhance consumer understanding through AI-generated insights. With a strong focus on Southeast Asian markets, the company has been instrumental in driving digital transformation within the region’s CPG sectors with brands like ADM, Diageo, Mane, Olam and many more.
"Securing this funding from Orzon Ventures marks a pivotal moment for Ai Palette. It not only validates the strength of our technology and market approach but also enables us to accelerate our expansion efforts, particularly in South East Asia where the demand for AI-driven solutions is rapidly increasing."
Orzon Ventures’ investment highlights their confidence in Ai Palette’s potential to reshape the CPG sector. This collaboration aims to unlock synergies between Ai Palette and PTT Oil and Retail Business Public Company Limited (OR). With OR’s vast network of over 2,200 fuel retail outlets and over 4,000 Cafe Amazon stores, this partnership seeks to drive innovation and boost profitability across the retail ecosystem.
"We are excited to join forces with Ai Palette in their mission to drive innovation within the CPG industry. Their AI-driven approach has already demonstrated remarkable efficacy in empowering brands to better understand consumer preferences and adapt to evolving market dynamics. Through this partnership, we aim to unlock new avenues of growth and value creation for our existing CPG portfolio and marquee CPG brands in Southeast Asia. By harnessing the power of AI, we can tailor our product offerings to better meet the preferences of our diverse customer base, thereby strengthening customer loyalty and driving long-term profitability."
With this new funding, Ai Palette can strengthen its position in the market and grow even more, especially in places like Southeast Asia where AI and machine learning are welcomed. Ai Palette is changing how products are made and how we understand what consumers want in the CPG industry.
About Ai Palette
Ai Palette enables CPG companies to create consumer-winning products using Artificial Intelligence and Machine Learning. Its patented technology identifies emerging trends across 61B data points collated from 150+ data sources in real-time, uncovering consumer drivers and motivations, and helping create product concepts that meet unmet consumer needs. Its Natural Language Processing algorithm can also understand more than 18 different languages including Asian languages, making it truly one of a kind. In 2024, Ai Palette has broadened its horizons, venturing into the realms of beauty, personal care, and nutraceuticals, with a significant emphasis on harnessing its Generative AI Capabilities.
Headquartered in Singapore, currently working closely with some of the world’s largest food and beauty companies, including Fortune 500 giants like Kelloggs’, Nestle, Olam, Himalays, etc.
