Afresh Technologies, a San Francisco, CA-based artificial intelligence-powered fresh food optimization platform for grocers, raised $12m in Series A follow-on round of funding.
The round, which brings the total amount raised to $20m, was led by returning investor Innovation Endeavors with participation from Food Retail Ventures, Maersk Growth, Impact Engine, and existing investor Baseline Ventures.
The company intends to use the funds to accelerate bringing its technology to more grocery partners.
Founded by Matt Schwartz, Nathan Fenner, and Volodymyr Kuleshov, Afresh provides AI solutions that give grocers an accurate way to manage fresh food orders, inventory, and merchandising. The fresh food (produce, meat, seafood, bakery, food service) optimization company that has developed AI-powered merchandising, ordering, and store operations solutions that reduce food waste, increase food freshness, accelerate stock turns, and improve grocers’ top and bottom lines. Front-line staff on the grocery store floor access applications through an AI-powered app that runs on mobile devices. In partnership with its multiple U.S. grocery customers, Afresh is already used to order billions of dollars of fresh food annually.