Khaberni - At a time when the global food industry faces increasing challenges, from supply chain disruptions to rising raw material prices, an emerging company that relies on artificial intelligence has emerged as an unconventional solution that industry giants are resorting to in order to reinvent their products and ensure their sustainability.
The artificial intelligence market in the food sector could jump from 15 billion dollars in 2025 to 140 billion dollars by 2034
The Italian company "Ferrero", owner of products such as Nutella and Kinder, collaborates with the American food tech company "NotCo", after facing difficulties in modifying more than 30,000 recipes it uses annually.
And with the rising prices of cocoa in 2024, the need arose for smart solutions capable of replacing ingredients without affecting the taste, texture, or quality, according to "Forbes".
Matias Muchnick, founder and CEO of "NotCo", says: "If you change one ingredient, you change everything; we are dealing with a complex equation that cannot be solved using conventional methods."
Artificial intelligence reconfigures food
Since its establishment in 2015, "NotCo" has developed an artificial intelligence platform capable of analyzing millions of food combinations to produce plant-based alternatives to dairy and meat products.
In recent years, the company has collaborated with "Kraft Heinz" to develop more than 30 new products, including mac and cheese and plant-based sausages.
The company has transformed into something akin to a "technical consultant" for major food companies, offering solutions to complex problems related to ingredients, cost, and sustainability simultaneously.
Rapid growth and investments of $1.5 billion
Supported by prominent investors such as Jeff Bezos and Roger Federer, "NotCo" has successfully raised over 425 million dollars, reaching a market value of about 1.5 billion dollars, and its artificial intelligence-based activity has grown by 300% in one year, with annual revenues estimated at about 75 million dollars.
Muchnick holds a stake of about 20% in the company, while its operations are divided into two parts: the first focuses on providing high-margin AI solutions to companies, and the second includes its plant-based food products which serve as an application interface for its technical capabilities.
Products reach consumers directly
"NotCo" offers more than 130 products, primarily sold in Latin American markets such as Brazil, Mexico, and Chile, and its products, like "Not Burger" and "Not Chicken", have entered Burger King's restaurant menus in several countries.
Its best-selling products include plant-based milk, protein bars, and meat alternatives, amidst increasing demand for healthy and sustainable food options.
The crisis in the industry opens the door to innovation
Major food companies face unprecedented pressures due to changing consumer preferences and the shortage of some essential ingredients like cocoa, hazelnuts, and orange juice.
Estimates indicate that the artificial intelligence market in the food sector could jump from 15 billion dollars in 2025 to 140 billion dollars by 2034.
In this context, "NotCo" presents a different model, relying on artificial intelligence to redesign products from their roots, not just improve them.
"Giuseppi".. the mastermind
The company named its model "Giuseppi", after a Renaissance artist who created paintings from unexpected components, similarly, the system uses a huge database of molecular information to produce new combinations that were previously impossible.
The model is based on data covering a full decade, including consumer preferences, scientific research, and regulatory standards, giving it a competitive edge that is difficult to replicate.
Muchnick began his journey in Chile, where he founded a plant-based food company before selling it and using the proceeds to establish "NotCo", and through his experience, he realized that developing food products requires addressing millions of possibilities, which cannot be achieved by relying on human intuition alone.
Muchnick likens this challenge to a game of blindfolded chess, asserting that artificial intelligence is the only tool capable of dealing with this complexity.
Data-driven future
"NotCo" currently holds dozens of patents and works with a number of the largest food companies in the world, and aims in the next phase to expand the scope of its partnerships and enhance the use of its data in developing new products.
Muchnick confirms that the ultimate goal is to build an integrated system that connects innovation, marketing, and supply chains, allowing for more precise and faster decisions.
