ProfilePrint, a Singapore-based food ingredient search engine platform powered by A.I. food fingerprint technology, has been commissioned as the neutral technology partner to predict the quality of auctioned coffee beans.
ProfilePrint first unveiled its A.I. food fingerprint prediction technology in June 2021 at the Singapore Coffee Association auction, held online due to the pandemic.
As brewing and sending samples to the few thousand buyers participating from all around the world was practically impossible, ProfilePrint was commissioned as the neutral technology partner to predict the Q-grading score, taste parameters as well as key attributes such as moisture and density for all the auctioned coffee beans.
This allowed buyers to be more assured of a coffee lot’s quality and profile beyond the scores provided by sellers.
“We are encouraged by the results from trials we’ve carried out in both green and soluble coffee using ProfilePrint,” says Vivek Verma, CEO of the coffee business at OFI.
“The technology could significantly expedite the quality assessment process to benefit the entire value chain, from farmers to roasters.”
Backing this funding round are some of the world’s largest food ingredient conglomerates, namely Louis Dreyfus Company, Olam Food Ingredients (ofi), Sucafina, and international venture capital funds Greenwillow Capital Management and Real Tech Global Fund.
“With some of the world’s largest food ingredient conglomerates as strategic investors holding equal shares, we are now able to leverage their extensive networks to widen and deepen our product offering, while ensuring that we maintain our neutrality with the common vision to establish ProfilePrint as the industry’s digital standard for food ingredients globally,” says ProfilePrint Founder and CEO Alan Lai.
With this funding round completed, the company plans to use the proceeds to expand the team, invest in research and development to meet the growing demand for its services, and ramp up its international expansion.
ProfilePrint is seeing accelerated growth with four times more clients compared to a year ago for its food ingredient A.I. fingerprint solution driven by strong demand for specialty and traceable ingredients globally.
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