Estonian food tech startup Cognitiwe raised investment from Azerbaijani Caucasus Ventures

Tallinn-based AI solution to prevent food waste in supermarkets and catering services Cognitiwe raised investment from Azerbaijani Caucasus Ventures. The amount of the deal is undisclosed. According to the investment company, its average ticket per startup ranges from €50K to €100K.

Founded in Tallinn in 2021 by Mete Bayrak and Attila Algan, Cognitiwe designed an AI-powered platform that helps prevent food waste in supermarkets and catering services. The cloud-based platform and usage of IP cameras allow retailers to analyze the freshness, stock levels, and sales performance of their shelf stocks reduce food waste, and conserve resources and materials. 

Cognitiwe extracts data from the images and videos from existing IP- cameras, installed in the supermarkets, and analyzes it. Retailers or food manufacturers can manage cameras, locations, and products through the dashboard on the platform. The platform monitors check-out aisles and self-service checkout kiosks to detect fraud and shrinkage.

Among the company’s customers are French retailer Carrefour, Swiss retailer company Migros, and others. Cognitiwe has offices in Istanbul and Milan.

Caucasus Ventures is an early-stage investment company from Baku. It invests in tech entrepreneurs from the Caucasus, Central Asia, and Eastern Europe. The general partner is Mammad Karim. The fund size is $6.6M.