This company is a leading provider of smart food detection and personal health tracking products and solutions. They believe that by eating and working out smarter with the help of AI, people become fitter and healthier at a faster pace.
Changing our food habits and how we track our health should be easy, as easy as taking a quick picture, speaking to the application and talking about what you had for lunch, or even writing about it and getting all the useful info and insights a person needs.
Their products and solutions can be integrated into a variety of use cases to save people’s diets by providing and communicating about prohibited and unprohibited food items that may harm the diet.
Utilizing their knowledge in Machine Learning, they developed state-of-the-art algorithms to be able to detect food items on your table to estimate nutritional values in a matter of milliseconds. Their algorithms are designed specifically for food detection and recognition, which allows us to achieve optimum performance.
Nutrifai was born beginning of 2020. The initial idea was to extract the nutritional value of foods in pictures using an AI technique. People are frequently taking pictures of their food and share in social media, why not add nutritional value to it and improve health. After implementing a mobile app to scan food images and extract nutritional values using AI techniques, we find out the use case can be much wider than just scanning images. It can be the detection of allergic food for a person or a gluten-free food scanner. Reaching this point Nutrifai evolved into a b2b business that provides smart food detection via image, speech, and text mediums in order to cover a wide range of use cases for a variety of clients.
Nutrifai provides customizable solutions for different market segmentation needs:
- Developer & Small companies: Empower developers & small enterprises to roll out
- Big enterprises and smartphone manufacturers: Nutrifiai ports the standard models and wraps it in a mobile SDK to run on a mobile device. All processes will be run on the device without sending any data to the cloud.
- Big enterprises and smartphone manufacturers: Nutrifai can provide customized solutions in order to train a new model or using customer datasets and achieve better performance for the client’s use cases. The customized solution can be used for both on-cloud and in-device models and can be negotiated in the form of a contract. This service can be provided in our infrastructure or on client infrastructure ( on-premise ).
Required capital:
€1 million euros
Investment uses:
1-year: Human Resource (around 300k per year)
2-year: Human Resource (around 400k per year), Infrastructure (around 100K per year), Marketing (around 60K), Office fixed costs (20K)
3rd year: Human Resource (around 450k per year), Infrastructure, Marketing (100K), Office fixed costs (50K)
Company phase:
Seed
Sector:
Health, wellness & fitness; HealthTech
No. of founders:
2
No. Of employees:
5
Legal structure:
Private limited company (bv or besloten vennootschap)
Ideal investor specs:
We believe that knowledge and experience in the AI market would boost our communication and cooperation. Also, it would be great if we would benefit from additional services of our future investor, such as marketing, financial advice, and other resources. Finally, as we work in a highly agile and creative environment, having a partner that supports our startup culture and accompanies us in making creative and risky decisions will encourage us to reach goals faster.
