Proxy Foods Unveils AI Recipe Formulation Platform with $2.3M in Seed Funding

Proxy Foods, a food and beverage AI platform, announced a successful $2.3 million seed round for food and recipe formulation. The seed round was supported with funding from Ted Leonsis, CAVA’s Ike Grigoropoulos, Ted Xenohristos and Dimitri Moshovitis, SWaN & Legend Venture Partners’ Anthony Nader and Fredrick Schaufeld, chairman and CEO of RGH Capital Robert G. Hisaoka and food industry veteran Richard Ware, among other investors.

Proxy Foods helps food and beverage companies to efficiently create new or optimize existing recipes and products through its AI recipe formulation platform. The solution leverages AI and analytics in response to the demand for sustainable food solutions and increasing consumer awareness around nutrition and animal welfare. The company says its platform meets the needs of research and development teams, food scientists, product developers and chefs from multinational food and beverage manufacturers, food service providers, alternative protein companies and novel pet food startups looking to streamline complex R&D processes by weaving together ingredient data with machine learning algorithms. It is designed to simplify analysis and interpretation in the food development process, empowering companies to create responsible products with tastes and textures discerning consumers love.

“At Proxy Foods, we're driving product innovation forward by merging cutting-edge technologies with the disciplines of food science and culinary arts,” says Panos Kostopulos, Proxy Foods founder & CEO. “We’ve assembled an extraordinary group of people, characterized by high talent density and ethos, all driven to make a meaningful global impact and realize our shared vision. Our commitment is to pioneer a world where every recipe advances the aggregate wellbeing of all life and future generations.”