Tastewise has raised US$50 million in series B funding led by TELUS Global Ventures and included participation from Disruptive AI, Peakbridge Capital, Duo Partners, and PICO Venture Partners.

This brings its total funding to US$72 million, which will support global expansion and enhance its AI marketing tools.

It will also help strengthen its presence in North America and Europe.

Tastewise’s platform uses real-time data from recipes, menus, social media, and brand sources to create marketing content and product ideas.

The platform is reportedly used by 80% of the top global food and beverage companies, including Mars, Kraft Heinz, and Campbell’s.

Founded in 2018, the company has 100 employees and plans to hire more in AI and data science across its global offices.

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🔗 Source: Calcalist

🧠 Food for thought

1️⃣ AI investments in food tech reflect a rapidly expanding market

Tastewise’s $50 million Series B is part of a broader explosion in food AI investment, reflecting the urgent digital transformation happening across the food and beverage industry.

Market projections show the AI in food and beverages sector growing at a CAGR of 39.1% from 2024 to 2030, with the market valued at $8.45 billion in 2023 1.

Even more aggressive estimates suggest this market could reach $311.6 billion by 2033, growing at 43.7% annually, making it one of the fastest-growing applications of AI technology 2.

This rapid investment growth directly correlates with increasing pressure on food companies to adapt to volatile market conditions, including ingredient inflation and changing consumer preferences highlighted in the original article.

The substantial funding rounds for companies like Tastewise demonstrate that investors see AI as essential infrastructure rather than optional technology for the future of food production and marketing.

2️⃣ Food giants facing unprecedented market pressures are turning to AI for survival

Major food manufacturers are racing to adopt AI solutions as they confront multiple simultaneous challenges that traditional approaches cannot address quickly enough.

The statistics from the original article that 91% of menu changes last quarter were price hikes, and private-label products are growing four times faster than national brands illustrate the intense competitive pressure on established companies.

This aligns with USDA projections showing continued food price inflation of 2.9% in 2025, with specific categories like beef seeing increases of 6.6% 3.

Industry analysis reveals that food companies must now simultaneously manage supply chain disruptions, labor shortages, and rapidly evolving consumer preferences, creating a perfect storm that is driving AI adoption 4.

For companies like Kraft Heinz and Campbell’s using Tastewise, AI isn’t just enhancing existing processes but transforming their approach to innovation cycles and consumer engagement.

3️⃣ The evolution from data insights to automated execution marks a new AI era

Tastewise’s transition from providing data insights to generating complete marketing campaigns and sales materials represents a significant shift in how AI is being deployed in the food industry.

Industry reports show this evolution mirrors broader trends, where food companies are moving beyond using AI for basic analytics to employing it for complex tasks like flavor development and automated content creation 5.

This shift is exemplified by McCormick’s partnership with IBM to apply AI in developing new flavors, significantly improving the success rate of new product launches by analyzing patterns across massive datasets 5.

The food industry’s adoption of generative AI tools for creative work previously done by human teams reflects a wider trend, with 44.4% CAGR growth in companies using AI and big data for competitive intelligence and strategic planning 6.

As Tastewise’s platform demonstrates, the real competitive advantage comes not just from having data but from AI’s ability to transform that data into immediately actionable outputs that compress weeks of work into minutes.

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