The Spotter Spoonshot (1) recently conducted a seed funding round led by SRI capital. It is an early-stage investor that focuses on the SaaS and Deep-tech startups of the USA and India. SRI Capital has invested in many other technology platforms. It includes Shubh Loans, a fintech startup, Healthify, a digital wellness platform, Fitso, a fitness company, and Fakespot, focuses on fake reviews.
With the latest infusions, the total amount secured by Spoonshot has now risen to 1.8 million USD as per the reports. Previously, they had raised 400K USD, approximately 2.7 Crore INR in its pre-seed funding round. The previous funding round was led by Farm to Fork, Techstar’s food and agriculture technology platform. Arts Alliance Ventures, a UK-based venture firm, also participated in the pre-seed funding round of Spotter Spoonshot.
Spotter Spoonshot Leverages AI and Food Science to Spot and Predict Food Trends
Kishan Vasani and Sai Sreenivas started Spotter Spoonshot in 2015. As per the company’s website, the platforms use artificial intelligence and food science to predict and spot food trends. Other than that, Spotter Spoonshot also offers personalized insights and flexible pricing.
As per the company, it will use the latest fundings to accelerate its growth. The capital raised by Spotter Spoonshot will also help build its team while enhancing its technological infrastructure.
Kishan Vasani, Co-founder of Spoonshot, said that compared to 2019, the startup had increased its revenue by 220% so far in 2020.
In October 2018, the food-focused startup also acquired Hyderabad HQed restaurant analytics startup Brisky. The sum for acquiring has not been disclosed. Briskly advise restaurants o how to get more audience, their loyalty, and setting huge targets based on its customers’ data collection.
Spotter Spoonshot is among the few foods and beverage science-focused and AI-backed startup to recently raise any funds. In the previous month, UST Global, a multinational digital transformation solutions firm, invested in Tastry Inc, a firm that focuses on sensory sciences and customer experience.