Tastewise, a company that uses generative AI for the food and drink industry, has raised $50 million in Series B funding. Their platform helps turn food trends and data into proper marketing and business strategies.
The funding round was led by TELUS Global Ventures, with support from several other investors. This brings Tastewise’s total funding to $72 million and will help the company grow its AI tools for food and beverage brands around the world.
Tastewise’s main product is a generative AI platform that takes in vast amounts of real-time food data—from recipes and restaurant menus to social media posts—and mixes it with a brand’s data.
This helps companies understand what consumers want and even creates sales presentations, marketing campaigns, and product ideas instantly.
Big food companies are facing a lot of challenges—rising ingredient costs, less space on store shelves, and fast-changing customer preferences. In the U.S. restaurant industry, 91% of recent menu changes were price increases, and store-brand products are growing much faster than well-known brands.
Tastewise wants to help these companies keep up by speeding up how they make decisions and launch new ideas.
Tastewise’s tools are already used by 80% of the world’s top food and drink companies, including Mars, Kraft Heinz, and Campbell’s. At Kroger, one product line went from testing to being sold nationwide in just a few months, thanks to marketing materials and product ideas created by Tastewise’s platform.
Alon Chen, CEO and co-founder of Tastewise, said: “Back in 2018, we noticed that the food industry—despite its significant impact on people’s health—was out of touch with what consumers wanted. Big food companies were making choices without really understanding people’s eating habits. So, we built a system that tracks what people are eating and drinking in real-time.
Now, we work with 80% of the world’s biggest food and drink companies. Our AI tools are built right into their product and marketing teams, helping them follow food trends and speed up their work.”
“Previously, companies would outsource product ideas for validation, a process that took months. That delay was often responsible for innovation failure. Now, with GenAI, we’ve evolved from being a data provider to a full-stack solution, generating not just insights but product concepts and marketing materials in real-time. For instance, we helped a U.S. frozen food brand identify demand for ‘Ninja ‘-style frozen vegetable preparation, opening a whole new product category.”
The new funding will help Tastewise grow in North America and Europe. It will also make their AI tools even better by connecting them more closely with marketing and sales platforms.
The company also plans to hire dozens of new team members in Israel, especially in areas like AI, data science, and prompt engineering.
Tastewise was founded in 2018 by Alon Chen and Eyal Gaon. The company now has 100 employees, with over 60 based in Israel and the rest working from New York, Spain, and other remote locations.
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