Singapore: ProfilePrint, a Singapore-based Artificial Intelligence food ingredient analysis platform, announced today it has closed a 7-figure USD pre-Series A funding round.
Participating investors include Enterprise Singapore’s investment arm SEEDS Capital, Glocalink Singapore, Leave-a-Nest Singapore, and BP de Silva Group, as well as other unnamed strategic investors.
The fresh financing will be used to bankroll developments of ProfilePrint’s patented technology, develop analysis solutions on its SaaS platform, and expand its team.
Co-founded in 2018 by Alan Lai and Rehan Amarasuriya, ProfilePrint has developed a technology to combine parameters and data into a digital fingerprint that predicts the quality profile of a food sample “within seconds”.
The SaaS startup claims this is possible through the utilisation of technologies such as AI on a cloud-based platform with a portable analyzer. This allows various stakeholders — ranging from growers, collectors, wholesalers, manufacturers to retailers — to predict quality profiles without human intervention, or destroying the sample.
ProfilePrint said its solution has taken on increased importance amidst the pandemic outbreak as companies are restricted from sending their staff to farms for sourcing and quality inspections. This has led to an increase in revenue growth and business user adoption for the company, it said.
The startup currently provides its solutions to food brands and manufacturers in countries, including Singapore, Malaysia, Indonesia, Vietnam, Sri Lanka, the US, and China.
Besides its core platform, ProfilePrint also helps organizers of trade shows by creating a virtual platform for its exhibitors and trade visitors to ascertain the grade and quality of ingredients online without the need for physical samples,