Britain has one of the worst obesity rates in Europe, which campaigners attribute to poverty and the prevalence of cheap ultra-processed food.
While the government has attempted to tackle this issue through its Soft Drinks Industry Levy and legislation to restrict the placement of foods high in fat, sugar or salt in supermarkets – health experts are still calling for more to be done.
Exited entrepreneurs Glenn Smith (CEO) and Graham Ratcliffe (COO) have founded a startup that they believe can contribute to the fight against obesity.
Their company is Fueld, an app that uses AI to scan a picture of food to instantly provide users with its calorie and nutritional information.
It aims to use its technology to help users form a personalised and balanced diet while providing advice through an in-app chatbot coach.
The app analyses shapes, colours, and textures within each image to identify food items. It considers contextual clues and typical food combinations to predict the most likely components of your meal.
AI guesses the most likely match and offers a lineup of look-alikes for a user to confirm.
Using data from a “large scale” of health reports, its chatbot then gives users tips on blood sugar balance and gut health.
While the app has only just launched, the food tech startup’s founders already have bold ambitions – to one day take on health and fitness app MyFitnessPal.
Image credit: Fueld
The pair launched Fueld after selling their previous businesses. Ratcliffe previously co-founded Abakus, an AI-powered customer service platform later acquired by enterprise software firm SAP in 2017.
Smith sold his previous company Roqqett, an open banking payment platform, to financial software company Equals Group in November 2022.
“Most people don’t know what good nutrients look like and so the challenge we have is how we change that behaviour and educate,” Ratcliffe told UKTN. “We’re obsessed with innovations and technology that can unlock that change.”
While the app is free to use for now, the founders plan to implement a subscription model later down the line. They also have plans to integrate with Apple watches and wearables.
In the subscription model, some features such as the AI coach will be limited to paying users while the diary will remain accessible to everyone.
“Our research shows that if you record the foods that you eat then it can actually help you make better choices,” said Smith. “We think that in itself is a good thing so we’re going to keep it free for everyone.”
While the pair couldn’t share the exact figures for their exits, Ratcliffe said: “Our previous exits were successful and provided us with the experience and resources to embark on this new venture.”
Launched last week, the app has a few hundred users who are sending feedback that can be used to improve the platform.
The founders aren’t rushing to get immediate investment but they know they’ll need it soon to keep up with the costs of their AI technology, which currently has an 80% accuracy rate, according to figures on the startup’s website.
Asked about the future of the startup, Ratcliffe said: “We believe our platform has the potential to surpass the widespread adoption and scale of MyFitnessPal. By leveraging AI to easily capture dietary habits with just a photo, we are tapping into an even larger market opportunity.
“Beyond fitness, our focus is on creating a profound impact on the nation’s health through our unique approach to personalised nutrition.”
MyFitnessPal holds a leading position in the calorie-tracking app market. It raised $18m back in 2013 before being acquired by Under Armour two years later for $475m. The company was then acquired by private equity firm Francisco Partners in 2020 for $345m.
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