New York based Native.AI secured $1.75 million in Pre-Seed funding

Native.AI, a New York based real-time market and consumer intelligence platform provider, has now secured $1.75 million in strategic pre-seed funding.

Native.AI is founded by Frank Pica. The AI startup offers a new AI-powered platform that uses Natural Language Processing to deliver real-time analysis of consumer feedback from the Point of Sale (PoS), social media, ecommerce reviews, and smart labels. 

Frank Pica, co-founder and CEO of Native.AI, said, "Consumers are driving market disruption and fueling innovation within the F&B and CPG industry. Without their feedback, it is incredibly difficult to make products that fit customers’ ever-changing preferences, especially in a cluttered marketplace. With 30,000 new CPG products launching every year, the competition is cutthroat. Our intelligence allows brands to understand customers like never before and make real-time decisions on product development and differentiation. Our pre-seed funding by some of the greatest innovators in the F&B space speaks to the strong demand for this level and speed of insight."

Ilia Papas, founder and former CTO of Blue Apron, said, "The initial addressable market for AI solutions in the CPG industry represents an incredible $7.5B of the total $62B AI market and is growing at a 42% CAGR. Native fills a massive gap by equipping brands with the real-time intelligence they need to innovate and differentiate. The early market demand and customer ROI has been remarkable."

The AI market for Consumer packaged Goods stands at $7.5 billion out of the $62 billion AI market. The newly launched Consumer Intelligence Platform allows the Food & Beverages, Consumer Packaged Goods companies to uncover, analyze and act on the consumer feedback to improve product offering

 

The latest funding round was led by several top companies and government agencies, which includes the USDA, The Kellogg Company, Blue Apron and others, notes the announcement.