ProfilePrint estimates quality of food sample in ‘seconds’, closed Series A round
ProfilePrint, an AI-powered food fingerprint platform located in Singapore, has announced the completion of its Series A investment round.
Food ingredient companies such as Louis Dreyfus Company (Netherlands), Olam Food Ingredients (an operational group of Singapore-based Olam International Limited), and Sucafina (Switzerland), a Southeast Asian agrifood giant, are among the investors (Indonesia). Greenwillow Capital Management (Singapore) and Real Tech Global Fund (Japan) were also involved in the investment.
The deal’s specifics have yet to be revealed. This round, however, was concluded at a value more than three times that of the pre-series A round, which was raised last year from Glocalink Singapore, Leave-a-Nest, and Seeds Capital.
ProfilePrint intends to utilise the funds to grow its personnel, invest in R&D, and expand internationally. According to Founder and CEO Alan Lai, the company will use the investors’ enormous networks to broaden and deepen its product offering.
ProfilePrint, a food ingredient search engine, promises to be able to determine the quality and profile of a meal sample “in seconds.” The analyser obtains the unique fingerprint from 5g of the sample without harming the samples. In an online transaction, sellers and purchasers can objectively determine the agreed-upon quality of a food item.
ProfilePrint analyses samples directly at the molecular level and may be used by supply chain stakeholders to retrieve real-time data from anywhere, replacing package labels, reports, and QR codes.
In June 2021, the firm debuted its fingerprint prediction algorithm at the Singapore Coffee Association auction, predicting the Q-grading score, taste parameters, and important qualities including moisture and density for all of the auctioned coffee beans.
“ProfilePrint’s technology could greatly speed the quality evaluation process to benefit the whole value chain — from farmers to roasters,” said Vivek Verma, CEO of Olam Food’s coffee division. We also see the possibility for this technique to be used in other distinct food products such as chocolate, almonds, spices, and dairy, in addition to coffee.”
ProfilePrint’s solution has been used around the world, including in Europe, Africa, Latin America, China, Japan, Sri Lanka, and Indonesia.
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