# Turing Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/turing-labs

- Industry: Business Support Services
- Headquarters: New York, US
- Website: https://www.turingsaas.com
- Total disclosed funding: $18M
- Latest round: Series A (Dec 16, 2021)
- Investors on record: 6

## About

Based in New York, US, and founded in 2019, Turing Labs Inc provides a virtual product development platform helping companies develop consumer packaged goods products efficiently. In December 2021, Turing Labs Inc. raised USD 16.47 million in Series A funding. As of 2021, Co-Founder Manmit Shrimali, heads the company as CEO.

Turing is a software development company using AI to eliminate physical and manual analysis in product development. The company provides a software platform that uses algorithms for efficient data aggregation and allows CPG companies to work on all stages of product development on one platform. This would reduce the length and cost of the product development proces. Turing’s cloud-based modeling and simulation platform takes in enterprise marketing, R&D, consumer, chemical composition, and costing data from various sources in different formats. 

In May 2020, Turing Labs Inc. raised USD 1.75 million in Seed funding led by new investor Moment Ventures with participation from other new investors New York Venture Partners, Rebel Fund, Y Combinator, and other individual investors. In December 2021, Turing Labs Inc. raised USD 16.47 million in Series A funding led by Insight Partners, with participation from existing investors Moment Ventures and Y Combinator and new investor Borge Hald. The series A funding values Turing Labs Inc. at USD 61 million post-money. 

The funding will be used to accelerate R&D, grow the engineering team, widen operations, and further build a go-to-market organization.

## Funding rounds

- Series A, Dec 16, 2021, $16M — Insight Partners, Y Combinator, Medallia, Inc., Moment Ventures
- Seed, May 29, 2020, $1.8M — Y Combinator, Moment Ventures, New York Venture Partners, Rebel Fund

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Moment Ventures (https://capitalatlas.ai/funds/moment-ventures) — Seed, Series A
- New York Venture Partners (https://capitalatlas.ai/funds/new-york-venture-partners) — Seed
- Rebel Fund (https://capitalatlas.ai/funds/rebel-fund) — Seed
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series A
- Medallia, Inc. — Series A