Global News and Digital
Insights for the Food and Grocery Industry

August 27, 2021

Singapore-based Ai Palette raises $4.4 Million in Series A Round

Ai Palette, a trend-predicting tech solution provider, has bagged $4.4 Million in Series A Round. Exfinity Venture Partners, pi Ventures, VC AgFunder and Decacorn Capital led the investment round. The tech firm has now raised $5.5 million as a total investment. Ai Palette uses AI and machine learning to predict the ongoing and changing consumer trends to help the CPG and food firms. The firm’s tech recognizes 15 different languages and is capable of processing data, including pictures. Foresight Engine, the firm’s first product, can predict a trend’s future trajectory and its maturity.

Schnuck Markets rolls out intelligence robots chainwide

Schnucks has recently deployed automated aisle-scanning robots chainwide. The retailer has partnered with Simbe Robotics, a tech firm, and rolled out robots to all of its 111 stores in the U.S. The robots are now in charge of scanning fresh produce and refrigerated items. Initially, Schnucks had limited them to monitoring dry items in stores to test their capacity. The retailer assessed that robots are around four to fifteen times better than humans at handling the tiresome activity of checking the product levels.

The retail industry still has empty shelves in few stores due to supply chain disruptions

An improvement in the supply chain disruptions can be observed lately as the COVID-19 restrictions ease. But customers still see empty shelves in a few U.S. stores. These issues arise as the vendors face obstacles while delivering the products to the retailers. Lawmakers and bureaucrats in Washington are launching an infrastructure bill to lower costs incurred due to traffic jams. Most of the congestion occurs at Americas’s ports, and if the legal proposal gets accepted, it can get a $16b boost. This solution will solve various problems that suppliers face during delivery and prepare the ports for bigger ships.

Toast, a restaurant tech firm, is seeking an IPO of up to $100M

Toast, a firm providing tech solutions to restaurants, has just filed for a $100 million IPO. On Friday, an S-1 filling report submitted to the U.S. Securities and Exchange Commission revealed the information. About 48,000 restaurant locations across 29,000 customers have leveraged Toast’s technology. The tech firm made over $38 billion in gross payment volume in the past year. The pandemic was not an easy year, and Toast laid off 50% of its employees. But it recovered quickly due to the boom in e-commerce.

Pakistan’s Airlift Technologies bags funding worth $85 million, international expansion expected

Airlift Technologies, a year-old e-commerce startup in Pakistan, bags $85 million in its Series B funding round. It is currently operating in eight major cities like Lahore, Islamabad, Karachi and launching in other cities soon. DoorDash, Twitter, Medium and Indus Valley Capital, amongst others, led the investment round. Airlift offers online delivery of groceries, fresh produce and other essential products within 30 minutes. The Pakistan-based startup is now at a valuation of $275 million and is now eyeing expansion in the international market.

Singapore-based Ai Palette raises $4.4 Million in Series A Round

Ai Palette, a trend-predicting tech solution provider, has bagged $4.4 Million in Series A Round. Exfinity Venture Partners, pi Ventures, VC AgFunder and Decacorn Capital led the investment round. The tech firm has now raised $5.5 million as a total investment. Ai Palette uses AI and machine learning to predict the ongoing and changing consumer trends to help the CPG and food firms. The firm’s tech recognizes 15 different languages and is capable of processing data, including pictures. Foresight Engine, the firm’s first product, can predict a trend’s future trajectory and its maturity.

Schnuck Markets rolls out intelligence robots chainwide

Schnucks has recently deployed automated aisle-scanning robots chainwide. The retailer has partnered with Simbe Robotics, a tech firm, and rolled out robots to all of its 111 stores in the U.S. The robots are now in charge of scanning fresh produce and refrigerated items. Initially, Schnucks had limited them to monitoring dry items in stores to test their capacity. The retailer assessed that robots are around four to fifteen times better than humans at handling the tiresome activity of checking the product levels.

The retail industry still has empty shelves in few stores due to supply chain disruptions

An improvement in the supply chain disruptions can be observed lately as the COVID-19 restrictions ease. But customers still see empty shelves in a few U.S. stores. These issues arise as the vendors face obstacles while delivering the products to the retailers. Lawmakers and bureaucrats in Washington are launching an infrastructure bill to lower costs incurred due to traffic jams. Most of the congestion occurs at Americas’s ports, and if the legal proposal gets accepted, it can get a $16b boost. This solution will solve various problems that suppliers face during delivery and prepare the ports for bigger ships.

Toast, a restaurant tech firm, is seeking an IPO of up to $100M

Toast, a firm providing tech solutions to restaurants, has just filed for a $100 million IPO. On Friday, an S-1 filling report submitted to the U.S. Securities and Exchange Commission revealed the information. About 48,000 restaurant locations across 29,000 customers have leveraged Toast’s technology. The tech firm made over $38 billion in gross payment volume in the past year. The pandemic was not an easy year, and Toast laid off 50% of its employees. But it recovered quickly due to the boom in e-commerce.

Pakistan’s Airlift Technologies bags funding worth $85 million, international expansion expected

Airlift Technologies, a year-old e-commerce startup in Pakistan, bags $85 million in its Series B funding round. It is currently operating in eight major cities like Lahore, Islamabad, Karachi and launching in other cities soon. DoorDash, Twitter, Medium and Indus Valley Capital, amongst others, led the investment round. Airlift offers online delivery of groceries, fresh produce and other essential products within 30 minutes. The Pakistan-based startup is now at a valuation of $275 million and is now eyeing expansion in the international market.