Washington (DC News Now) — Panos Kostopoulos immigrated to the United States from Greece in January 2022 to pursue his passion. biotechnology at georgetown university At graduate school.
After that, he won first place in the competition. Contest known as Bark Tank On the Georgetown campus.
This is an initiative to support young entrepreneurs backed by Ted Leonsis, founder and CEO of Monumental Sports and Entertainment.
“I asked him to join the team as a co-founder,” Kostopoulos said.
Mr. Kostopoulos kept his company, Proxy Foods, afloat with the help of Mr. Leonsis, now a co-founder, and other investors.
The company recently announced that its platform includes: Seed funding is $2 million.
“The $2.5 million we raised will allow us to set up our infrastructure and scale more efficiently to accommodate more requests,” Kostopoulos said.
Kostopoulos believes Proxy Foods is a solution to a tedious process for food and beverage companies. The platform uses artificial intelligence to collect data on cost-effective and healthy ingredients.
“In our case, we wanted to make a strawberry-flavored vegan plant-based ice cream using up to 12 ingredients, we wanted it to be zero trans fat, we wanted it to be regulated in the U.S., and we wanted to get the most amount of trans fat. The cost will be ‘x’ amount. So specifying all these parameters will limit your space, making them appropriate if you have an application. ” he said.
He hopes the company will make the food supply more sustainable in the future.
“We’re not developing our own products, nor do we intend to. That’s not in our goals,” he said. “We are currently in contact with Georgetown University and other locations in Washington, D.C., to set up a lab. But we also have a lab location in Athens, Greece.”
