On March 21, the artificial intelligence startup headquartered in Massachusetts, Washington, USA, Proxy Foods announced it has raised $2.3 million in seed funding. The company provides food and beverage companies with a way to create formulas using artificial intelligence.
This round of funding involved several angel investors, including billionaire Leonsis (founder and CEO of Monumental Sports & Entertainment and owner of the NBA's Washington Wizards), three co-founders of Cava Group Inc.—Ike Grigoropoulos, Ted Xenohristos, and Dimitri Moshovitis—as well as two partners from the venture capital firm SWaN & Legend Venture, Anthony Nader and Fredrick Schaufeld, and Robert G. Hisaoka, chairman and CEO of RGH Capital.
Proxy Foods was founded in 2022 by CEO and co-founder Panos Kostopulos. The company uses machine learning algorithms and artificial intelligence to create formulas faster for food and beverage companies.
(Source:The Business Journals）