Fresho’s successful $17 million funding round highlights the growing necessity for technological advancements in the fresh food supply chain, aiming to improve operational efficiency and market reach.
In the competitive landscape of fresh food distribution, technology is becoming an indispensable asset, particularly as the industry faces increasing margin pressures and the need for operational efficiency. Fresho, an order management platform based in London, has recently announced the successful completion of its $17 million Series B funding round, which has attracted considerable interest from both new and existing shareholders, bringing its total investment to $50 million since its inception.
Founded in 2015 by James Andronis and Huw Birrell, Fresho addresses a significant gap in the fresh food supply chain, where ordering processes traditionally relied on manual methods such as emails, texts, and voicemails. The company’s platform has been specifically designed to streamline the workflow between fresh food wholesalers and restaurant clients, effectively transforming the way orders are processed. With over 30 million orders processed to date, including 10 million in the past year alone, the efficiency brought by Fresho’s technology is evident.
Geoff Tarrant, the Co-Founder and former Executive Chairman of Payapps, spearheaded the recent funding round. His extensive background in software success places him in a pivotal role as he joins Fresho’s Board of Directors. Tarrant’s investment reflects a broader trend within the industry that emphasises the necessity for technological advancements in fresh food distribution.
The platform developed by Fresho is tailored to handle the unique challenges of the fresh food market, where products must move quickly from producers—whether farm or ocean—to kitchens in a matter of days. Complaints about price fluctuations, demanding standards from high-end clientele, and the chaotic nature of overnight staffing to process orders led Andronis and Birrell to innovate. By employing Artificial Intelligence (AI) to automatically convert incoming orders into structured data, Fresho has not only improved order accuracy and processing speed but also mitigated the need for vendors to work nonsensitive hours.
Huw Birrell, the company’s Co-founder and COO, articulated the strategic direction stemming from this funding. He highlighted the company’s commitment to leveraging AI and other emerging technologies to not only bolster efficiency but also help businesses in the food distribution sector stay competitive. Looking ahead, Fresho aims to expand its footprint into the US market, building upon its experiences in regions including Texas, New York, and California.
The benefits of adopting Fresho’s platform are being witnessed in various prestigious establishments across the globe. Notable Michelin-starred venues, such as Wild Honey in London and Le Bernardin in New York, have embraced the technology, citing improvements in order management and overall operational effectiveness.
Industry analyses further support Fresho’s innovative approach. Consulting firm Deloitte has emphasised the importance of digitising legacy systems to create a more resilient and efficient supply chain. Insights advocate for the transformation of fresh food operations to enhance visibility and streamline processes, ultimately leading to improved outcomes for businesses in a highly competitive market.
As the incoming funding positions Fresho to refine its technological offerings and extend its market reach, it reinforces the trend towards digitisation in the fresh food sector. The company’s efforts to facilitate sustainable work practices while reducing food waste highlight its commitment to both the industry and the environment. Fresho’s forward-looking strategies envision a reshaped landscape for fresh food wholesale, integrating technology as a key component in the modernisation of operational frameworks.
Source: Noah Wire Services
- https://www.fresho.com/us – This link corroborates the description of Fresho as a wholesale food order management platform designed to streamline ordering, picking, invoicing, and payments for fresh food suppliers and their customers.
- https://www.fresho.com/us/fruit-and-veg-wholesale-suppliers – This link supports the features of Fresho’s order management software, including online ordering, warehouse operations, payments, and invoicing, specifically for fruit and vegetable wholesalers.
- https://www.fresho.com/us/wholesale-suppliers – This link details the tools and features provided by Fresho for wholesale food suppliers, including order management, warehouse operations, and payments, which aligns with the article’s description of Fresho’s platform.
- https://www.fresho.com/us/wholesale-coffee-suppliers – This link highlights the specific features and benefits of Fresho’s platform for wholesale coffee suppliers, such as managing orders, unit sizes, delivery runs, and payments, which demonstrates the platform’s versatility.
- https://www.fresho.com/venues – This link explains how Fresho simplifies the ordering process for venues, such as restaurants and retailers, which supports the article’s mention of improved order management and operational efficiency.
- https://www.fresho.com/us – This link mentions the extensive experience of Fresho’s founders in the fresh food wholesale business, which aligns with the article’s background on James Andronis and Huw Birrell.
- https://www.fresho.com/us/fruit-and-veg-wholesale-suppliers – This link discusses the automation of payments and the reduction of administrative tasks, which corroborates the article’s points on efficiency and reduced manual labor.
- https://www.fresho.com/us/wholesale-suppliers – This link details the integration of Fresho with ERP, accounting, and back-office systems, which supports the article’s mention of leveraging technology to enhance efficiency.
- https://www.fresho.com/us/wholesale-coffee-suppliers – This link highlights the use of technology to manage delivery runs and automate payments, which is in line with the article’s discussion on technological advancements in fresh food distribution.
- https://www.fresho.com/venues – This link provides testimonials from various venues that have adopted Fresho, such as Polpo Chelsea and Mustard & Co, which supports the article’s mention of prestigious establishments benefiting from the platform.