Turing Labs Raises $16.5 Million To Expand AI-Powered Platform For Product Formulation
Summary
To address health and wellness trends, supply chain constraints, and ongoing pressure to improve margins, CPG companies are wasting huge amounts of time, money, and resources on antiquated manual processes. We are the solution to that problem, and Insight Partners’ investment will help us build an even better suite of products for our rapidly growing list of customers.” said Manmit Shrimali, Co-founder & CEO at Turing Labs. “With rapidly changing consumer preferences, including ingredient inputs, as well as the emergence of competitive independent brands, CPG companies today are under pressure to develop new products faster and evolve their existing portfolio. Turing Labs allows users to automate the formulation process and predict outcomes, helping CPG companies bring innovative products to market faster,” said Josh Fredberg, Managing Director at Insight Partners. Today, we are empowering CPG companies with tools that help them to formulate, reformulate and innovate better but our long-term vision is to create an ecosystem covering all players in the value chain.” Recommended AI News: Glassbox and Optimizely Partner to Accelerate Digital Transformation for Businesses [To share your insights with us, please write to sghosh@martechseries.com]