Evigence, a Yokne’am, Israel-based food technology company, raised $18M in series B funding.
The round was led by Cleveland Avenue with participation from Landa Ventures, as well as Planet Capital.
The company intends to use the funds for continued development of its solution, with a focus on advanced data collection and analytics capabilities and launch of additional commercial partnerships in the US and Europe.
Led by CEO Yoav Levy, Evigence provides a Freshness Management System that combines sensors and data analytics to empower food brands, retailers, and foodservice providers to measure and manage the freshness of foods in real time, at the unit level, from end-to-end across the supply chain. Sensors are applied at the moment of packing and react to aggregate time and temperature exposure as food moves through the supply chain. Sensors can be scanned digitally and read with the naked eye in transit, at the retailer or restaurant, and in consumers’ homes for an instant read of remaining freshness. All scan data is uploaded to the Evigence Insights Engine for visualization, analytics and generation of insights to inform decision-making for corporate users.
Evigence recently launched its Freshness Management System with meal kit delivery company Marley Spoon by Martha Stewart. Other current customer engagements include major US and European grocers, food brands and foodservice providers, who are piloting the system for applications ranging from supply chain optimization to freshness-based inventory management.
The company has its commercial headquarters in Hoboken, New Jersey.
FinSMEs
17/01/2023