Turing Labs Raises $16.5 Million To Expand AI-Powered Platform For Product Formulation
Turing Labs, a Software-as-a-Service (SaaS) platform that uses artificial intelligence tools to assist with Consumer Packaged Goods (CPG) formulations, announced a $16.5 million Series A raise to continue its mission to become the default AI platform for developing breakthrough CPG in record time. The round was led by New York-based global venture capital and private equity firm Insight Partners, with participation from existing investors Moment Ventures and Y Combinator and new investor Borge Hald (CEO and Co-founder of Customer and employee experience public company Medallia). The investment will be used to accelerate R&D, grow the engineering team, widen operations, and a further build a go-to-market organization
