A view of the display possibilities of the Proxy Foods' AI platform

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Investments & Finance

AI Recipe Formulation Platform “Proxy Foods” Raises $2.3M to Make Tasty & Nutritious Alternatives More Quickly

Washington-based Proxy Foods, a software developer for the F&B industry, has raised $2.3 million in a seed round for its AI platform that promises to solve the most complex challenges in food and recipe formulation more quickly: flavor, nutrition, and sustainability. The round was led by Ted Leonsis, Proxy Foods’ co-founder and renowned sports entrepreneur, and the co-founders of CAVA Group Inc., Ike Grigoropoulos, Ted Xenohristos, and Dimitri Moshovitis.  Investors Anthony Nader and Fredrick Schaufeld from SWaN & Legend Venture Partners, Robert G. Hisaoka from RGH Capital, and industry veteran Richard Ware backed the AI recipe formulation platform in this round. With the new capital, Proxy Foods will expand its team to accelerate product development and innovation and address the evolving demand for tasty, nutritious, cruelty-free, and …

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