Afresh Raises $115M in Series B Funding


Afresh, a San Francisco, CA-based AI-powered fresh food technology provider, raised $115m in Series B funding.

The round, which brought total funding to $148m, was led by Spark Capital with participation from Insight Partners, VMG Partners, and Bright Pixel Capital, Maersk Growth, High Sage, and Innovation Endeavors. In conjunction with the funding, Walter Robb, senior executive partner at S2G Ventures and former co-CEO of Whole Foods Market, joined the round.

The company intends to use the funds to scale across thousands more stores and expand the footprint of its Fresh Operating System, an efficient, flexible solution for forecasting, inventory, ordering, and store operations, to support new fresh categories like meat and bakery, to grow the team and to expand internationally to Europe. 

Led by Matt Schwartz, co-founder and CEO, Afresh provides AI-powered solutions that optimize critical functions in fresh food, including ordering, inventory, merchandising, and operations and reduce food waste, improves partners’ profitability, and makes healthier food more accessible to all. Founded in 2017, Afresh has grown rapidly with grocery customers across the US. Today Afresh has announced partnerships with grocers in over 3,000 stores and 40 states, including Albertsons, WinCo Foods, Heinen’s, Save Mart, Bashas, Cub Foods, and more.