Best startup to go Seedstars Switzerland

Seedstars World 2018, the largest startup competition for emerging markets came to Thailand for the 6th time and three startups have chance to join Seedstars Global Summit in Switzerland.

Eatlab, a deep tech startup which has successfully applied Artificial Intelligence (AI) into the food business development, has recently won the first prize at Seedstars Bangkok competition.

Seedstars Bangkok was supported by Startup Thailand and the National Innovation Agency (NIA) in order to seek for outstanding Thai startups with great potential to go to the global market.

Food business is considered the core strength of Thai economy. So far there is no startup which particularly specialises in this field. Eatlab is one such sought-after startup, so it has been voted to win the tough startup competition.

The second winner is Liluna, an application which help traveler find a travel companion. And the third winner is Nasket, a PropTech startup which helps condominium residents to buy products, find a housemaid, or order room service food delivery.

Chanikarn Wongviriya, Chief Executive Officer of Eatlab, an innovation startup, said the company saw the problem in the traditional way of making customer satisfaction survey which had an accuracy of only 20-40% and the result was pretty negative. As a result, the consumer product brands still have to find other ways to increase revenues and maintain customer satisfaction.

Therefore, the company came up with the idea to design AI by installing a camera to monitor and track behaviors of targeted consumers at the restaurants. Eatlab system will monitor the behavior of consumers while eating and record in video format. After that, it will proceed to data cleansing through algorithm which the company’s patent and use the data to forecast revenue of food and drink sales and improve recipe.

With AI platform combined with blockchain technology and big data, it enables Eatlab to have the largest data of consumer behaviors in Thailand. For this reason, the AI forecast of consumer needs is as 80-85% accurate, better serve the corporate’s needs in finding new customers and draw back repeat customers.

Eatlab forecasts that the global consumer satisfaction survey market, especially FMCG which consumes about 15-20% of total revenue, will reach US$ 3 billion. During the past 7 months, the company has 7 leading brands which have become its corporate clients. The company thus has plan to raise fund by 15 million baht by the end of next year and hopes to enter a merger and acquisition deal in the future.

As for the competition, five other startups which entered the pitching round include Vitaboost, a personalized vitamin formula for individual need; Block M.D, a health tech blockchain which focuses on using blockchain to exchange patients’ information between hospitals; OR’EASE, a wellness solution platform that provide home delivery of spa services; SkillSolved, a talent headhunter service and ADSOU, a hub of all communication channels with clients through cloud computing system.

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