Food Analytics Startup Tastewise Raises $5 Million
The company uses artificial intelligence algorithms to analyze billions of data points, from food photos shared on social media to restaurant menus, reviews, and online recipes and offers insights on a monthly subscription basis
Tel Aviv-based food analytics startup Tastewise technologies Ltd. has raised $5 million from Malta-based foodtech investment firm PeakBridge Partners Ltd., the former announced Wednesday. This is the firm’s first investment in an Israeli company.
Founded in 2017 by entrepreneurs Eyal Gaon, formerly of web traffic analytics company SimilarWeb Ltd., and former Google executive Alon Chen, Tastewise offers a predictive food intelligence service that analyzes billions of data points, from food photos shared on social media to restaurant menus, reviews, and online recipes, using artificial intelligence algorithms. The company offers predictions on culinary trends, changing tastes, and dietary fads to restaurateurs and food companies on a monthly subscription base. The company analyzes menus from more than 180,000 restaurants in the U.S. alone, according to its statements.
Tastewise has raised $6.5 million to date, according to company statements. The company intends to use the new round of funding to hire developers for its Tel Aviv office, and to break into new markets.
Food (illustration). Photo: Yuval Chen