The company secured investment of €343,000 from investors including Techstarts first food and ag tech focused accelerator, Farm to Fork. Existing investors Zeroth and Artesian Venture Partners also participated in this round, as did The Syndicate Fund and angel investor Sven Hensen, founder and managing partner of Mayato.
DishQ has developed what it calls a ‘food brain’ that can predict both an individual food preferences and broader industry trends. DishQ already has customers across six markets for their first product, a B2B personalization engine, which is currently powering more than 30m recommendations each month.
Kishan Vasani, fo-Founder and CEO, said the company has ambitious plans to expand. “We have an aggressive product roadmap that includes a suite of applications aligned to helping consumers make great personal food choices, so this investment allows us to develop and launch products at a greater pace,” he told FoodNavigator.
Taste Intelligence to drives innovation
One of the products the group is working on is an artificial intelligence technology that aims to help food industry manufacturers drive innovation.
“We want personalization to penetrate the entire food industry in one way or another. We're not even at 1% yet. We have established relationships with some of the world's top food brands from both CPG/FMCG and foodservice. Over the next 12 months we'll be deploying our technology to help these businesses get real-time predictive actionable insights on taste trends," Vasani said.
DishQ plans to launch the beta version of its B2B taste Intelligence Platform at the end of the third quarter.
The company added the primary deployment of the investment will be to expand the engineering team, as well as sales and marketing activities.