NEWS COMMENTARY

Afresh raises $12 million for its AI-based food waste prevention technology

Published:
July 31, 2020
Coverage:
Emerging Ecosystems in Agrifood and Health More...
Activities:
Investment
Average importance

This funding round was led by Innovation Endeavors, with participation from Food Retail Ventures, Maersk Growth, and other investors. Afresh develops machine learning algorithms that help improve inventory management of fresh foods including produce, meat, and dairy products on retail shelves, with the stated goal of reducing food waste. The company is looking to partner with more U.S. grocers to expand its customer base. As Lux outlined in its recent report, clients should expect to see increased adoption of digital tools to mitigate food waste in the distribution and retail segments, driven by the digital transformation of supply chain management.

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