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Ingest.AI

May 31, 2018

The Food Tech 25: Twenty Five Companies Changing the Way We Eat

Here at The Spoon, we spend most days writing and thinking about those who are transforming what we eat. No matter whether a startup, big company, inventor, or a cook working on new approaches in the kitchen, we love learning the stories of people changing the future of food. So much so, in fact, that we wanted to share those companies that most excite us with our readers.

And so here it is, The Spoon’s Food Tech 25: Twenty Five Companies Changing the Way We Eat

What exactly is the Food Tech 25? In short, it’s our list of the twenty five companies we think are doing the most interesting things changing the way we create, buy, store, cook and think about food.

As with any list, there are bound to be a few questions about how we got here and why we chose the companies we did. Here are some answers:

How did we create this list?

The editors of the Spoon — myself, Chris Albrecht, Catherine Lamb and Jenn Marston — got together in a room, poured some kombucha (ed note: except for Chris), and listed all the companies we thought were doing interesting and important work in changing food and cooking. From there, we had numerous calls, face-to-face meetings and more glasses of kombucha until we narrowed the list down to those you see here.

Is this an annual list?

No, this is a list of the companies we think are the most interesting people and companies right now, in mid-2018. Things could definitely look different six months from now.

Is this list in a particular order or are the companies ranked?

No, the list is in no particular order and we did not rank the 25 companies.

Why isn’t company X on the list?

If this was your list, company X or Y would most likely be on the list (and that’s ok with us). But this is the Spoon’s list and we’re sticking to it (for now – see above).

And of course, making this list wasn’t easy. There are lots of companies doing interesting things in this space. If we had enough room to create runners-up or honorable mentions, we would. But we don’t (and you don’t have enough time to read a list like that).

So, without further ado, here is the Spoon’s Food Tech 25. If you’re the type that likes your lists all on one page, click here.


EMBER
Ember bills itself as “the world’s first temperature control mug,” which basically means you can dictate a specific temperature for your brew via the corresponding app and keep your coffee (or tea or whatever) hot for as long as you need to. The significance here isn’t so much about coffee as it is about where else we could implement the technology and relatively simple concept powering the Ember mug. The company currently has patents out on other kinds of heated or cooled dishware, and Ember has cited baby bottles and medicine as two areas in which it might apply its technology. And yes, it allows you to finally stop microwaving all that leftover morning coffee.

 


INSTANT POT
The Instant Pot is not the highest-tech gadget around, but its affordability, versatility, and speed have made this new take on the pressure cooker a countertop cooking phenomenon. It also has a large and fanatical community, where enthusiastic users share and reshare their favorite Instant Pot recipes across Facebook groups and online forums. By becoming the first new breakout appliance category of the millennial generation, the Instant Pot has achieved that highly desirable (and rare) position of having its brand synonymous with the name of the category; people don’t go looking for pressure cookers, they go looking for an Instant Pot.

 


DELIVEROO
We chose Deliveroo out of the myriad of food delivery services because of their Editions project, which uses customer data to curate restaurant hubs in areas which have unfulfilled demands for certain chain establishments or cuisine types. This model allows food establishments to set up locations with zero start-up costs, and also gives customers in more restaurant-dry areas a wide variety of delivery food options. Essentially, it’s cloud kitchens meets a food hall, with some heavy analysis to help determine which restaurants or cuisines customers want, and where. These “Rooboxes” (hubs of shipping containers in which the food is prepared) show that Deliveroo is a pioneer in the dark kitchen space, and are doing serious work to shake up the food delivery market.

 

AMAZON GO
There are any number of ways that Amazon could have been included in this list, but its Amazon Go stores are what we think will be the real game changer. The cashierless corner store uses a high-tech combination of cameras and computing power, allowing you to walk in grab what you want — and leave. That’s it. At its first location in Seattle, we were struck by how seamless the experience was. As the locations broaden, this type of quick convenience has the potential to change the way we shop for snacks, (some) groceries and even prepared meal kits.

 


INGEST.AI
Restaurants have more pieces of software to deal with than ever. In addition to all the delivery platforms they are now plugged into, there have to deal with payments systems, HR software, and inventory management software. And right now, none of those applications talk to each other. Created by a former IBM Watson engineer, Ingest.ai promises to extract and connect the data from ALL of those disparate software pieces and tie them together to give restaurant owners a holistic, data-powered view of their business. It also helps them have more precise control over their business and automate tasks like food ordering and staff scheduling.

Want to meet the innovators from the FoodTech 25? Make sure to connect with them at North America’s leading foodtech summit, SKS 2019, on Oct 7-8th in Seattle.

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March 30, 2018

Ingest.AI Unifies Disparate Data to Run Restaurants more Efficiently

If you learn one thing while covering restaurant software companies, it’s that there are a lot of restaurant software companies. Payment systems, HR, inventory management. Not to mention all of the software applications built on top of those like GrubHub, OpenTable, and a host of others.

The problem is that none of these systems talk to one another, so useful data sits in silos, unable to integrate and deliver holistic, business-wide insights for restaurants. The result can be inefficiencies that cause wastes of human capital and food.

To solve this, Kenneth Kuo founded and is CEO of Ingest.AI, a software layer that plugs into all these disparate restaurant systems, uses machine learning to extract data from all of them, and unifies them into a single platform.

“We clean, classify and aggregate all the data to prep it for our second set of machine learning,” said Kuo.

Because Ingest.AI accesses and combines data from every part of the store, it can then tell a manager what will happen at a restaurant at any given time slice with “upwards of 90 percent accuracy.” This allows the manager to properly order the right amount of food and schedule staff accordingly.

And proper staffing can be a huge headache for a manager, especially in states that have high minimum wage and punitive overtime laws. Ingest.AI can make dynamic staffing suggestions to deliver alerts when workers are nearing overtime, and it can schedule around that or ensure there aren’t too many or too little servers at any given time.

With its predictive analytics, Ingest.AI can also help in the back of the house with proper ordering. It knows when a particular ingredient is running low as well as how long it takes a vendor to make deliveries. With this info, Ingest.AI can automate the ordering so restaurants have enough inventory on hand in anticipation of busy times.

Ingest.AI can also make smaller tweaks throughout the dining experience to increase incremental revenue. It will know, for example, that when parties of six or more people sit down, the first thing they do is order beer. The software will send out a notification to servers to suggest that the first thing they say to customers is “Hello, what kind of beer can we get for you, here’s what we have on tap…”

Restaurant managers aren’t typically data scientists, and connecting data from every aspect of the house all at once could quickly set them adrift in a sea of numbers. But Kuo is cognizant of this, and says he basically wants to answer two questions for the restaurant manager: “1. Did I make money? 2. Am I going to go under in the next week?”

You’d be forgiven for thinking was all too good to be true. A magical AI layer that can talk to and predict just about anything in your restaurant saving you time and money. It has a whiff of software snake oil. But Kuo has bona fides when it comes to artificial intelligence: Prior to his startup, he worked on IBM Watson using natural language to deliver personality insights.

There are two things that stand out for me when thinking about Ingest.AI. First, it has the capacity to replace a lot of other restaurant software startups out there. Ordermark unifies orders from different delivery services and Gebni provides dynamic pricing on menu items — but that’s all they do. Ingest.AI does those bits plus a lot more.

And second, honestly the food industry could be just the beginning for Ingest.AI. Every company I’ve worked for uses multiple software applications (Slack, Salesforce, Braintree, Workday, etc.) that don’t talk directly with one another. If Ingest.AI works as promised, there’s no reason it couldn’t expand beyond restaurants into any vertical.

But that is further down the road. Right now Ingest.AI is bootstrapped, based in Manhattan and was just inducted into the latest Food-X cohort. The company has nearly twenty customers paying anywhere from $150 – $250 per month for the service. Kuo says that it has a few deals in the pipeline and after that they will begin looking for a $1 – $1.5 million round of funding around November of this year.

So sure, there are a lot of restaurant software startups out there, but Ingest.AI seems like one to watch.

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