Melbourne-based start-up Fresho, co-founded by James Andronis and Huw Birrell in 2015, has raised $17 million to support its international growth, including plans to expand into the US.
According to The Australian, the funding round, led by Geoff Tarrant, co-founder of Payapps, has valued the company at $120 million.
Fresho’s AI-driven platform streamlines fresh food ordering for wholesalers, replacing outdated and error-prone manual processes. The app converts orders from various formats, such as emails, texts, and voicemails, into structured sales data. This reduces food waste and improves efficiency by providing real-time visibility of orders, helping suppliers avoid over-purchasing.
“Our solution solves that and actually takes any order from any type of input… and turns it into a sales order,” Mr Andronis told The Australian.
He highlighted the platform’s ability to cut waste significantly, with some suppliers reporting reductions of up to 40%.
The platform addresses a global issue, as food waste costs the economy $940 billion annually and accounts for 10% of greenhouse gas emissions. Fresho has processed 30 million orders since its inception, including 10 million in the past year alone.
Fresho’s entry into the US marks a significant milestone as the company seeks to lead global efforts in reducing food waste and transforming the fresh food supply chain.
Source: The Australian.
