- Singapore’s ProfilePrint secured funding to expand its AI platform.
- The startup aims to standardize supply chains, with clients like Tanzanian coffee exporter Cotacof.
- Seeing major potential in Indonesia, ProfilePrint utilizes new funds to integrate offerings ecosystem-wide.
ProfilePrint Gains Funding for Platform Expansion
Singapore-based artificial intelligence company ProfilePrint has secured an undisclosed amount in a Series B funding round to expand its digital platform for agricultural businesses. Tai Partners and four existing investors led the round.
ProfilePrint utilizes AI and digital identity technology to analyze commodity samples, predicting characteristics like origin and quality. This helps agribusinesses make better sourcing and trading decisions.
The startup is in over 50 countries across six continents, with major footholds in Europe, North America, China, and East Africa.
ProfilePrint Aims to Standardize Agricultural Supply Chains
One client is Tanzanian coffee exporter Cotacof, which uses ProfilePrint’s services to identify and export specialty-grade beans.
With the new financing, ProfilePrint aims to transform its platform into a globally standardized, interconnected solution linking all parts of the agricultural supply chain.
CEO Alan Lai stated that the goal is to “standardize the platform globally, linking everyone involved in the supply chain.”
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From Series A to Indonesian Expansion
While headquartered in Singapore, the city-state accounts for less than 1% of ProfilePrint’s revenue. Lai sees Indonesia as having major growth potential for the company’s services.
“Indonesians are tech-savvy – they’re willing to try new technologies,” he remarked.
ProfilePrint tripled its workforce over the past year following its Series A raise in August 2021.
The company plans to utilize the latest funds to move from a standalone product to an integrated, ecosystem-wide offering.
