Fresho
Overview
Fresho is a technology platform focused on streamlining the order management of fresh food wholesalers. Founded in 2015 by James Andronis and Huw Birrell, the company is based in Melbourne, Australia, with significant operations in the UK and New Zealand. Fresho has raised a total of $50 million in funding, with a recent $17 million Series B round led by Geoff Tarrant. The platform enables wholesalers and restaurant clients to efficiently handle orders through AI-powered solutions, thereby enhancing the supply chain process.
Recent Developments
In recent years, Fresho has seen significant growth and technological advancements:
- November 2024: Fresho completed a $17 million Series B funding. The round was led by Geoff Tarrant, co-founder of Payapps. This capital injection is aimed at expanding Fresho’s operations within the US market and strengthening its technological infrastructure with a focus on AI.
- August 2024: Fresho launched its AI-powered order entry system, enhancing inventory management and order processing automation. This update aims to provide more accurate order entries and customizable pricing for its vast user base.
- February 2024: The company introduced new reporting capabilities designed to maintain customer relations by identifying clients who have not placed orders recently, thereby preemptively addressing customer churn.
- July 2023: Fresho expanded its presence in Wales and Scotland, significantly increasing its supplier network. The company also surpassed $2 billion in annualized sales processed through its platform.
- June 2022: Fresho raised $9 million from investors including the co-founders of Aconex, marking it as a major step in scaling up operations and technology advancement.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | Melbourne, Australia |
| Founders | James Andronis, Huw Birrell |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Geoff Tarrant, Capital Zed, Salta Capital |
| Industry | B2B, SaaS, Food Technology |
| Number of Employees | Over 85 |
Early History
Fresho was founded in 2015 by James Andronis, drawing on his extensive experience as an executive in the seafood wholesale sector, and Huw Birrell, a technology entrepreneur with a background in international finance. The company began as a solution to the inefficiencies faced by fresh food wholesalers, where manual order processing was prevalent. The founders saw an opportunity to digitize and automate these processes, which led to the creation of their platform. The early adoption of this technology enabled wholesalers to improve order accuracy and cut down on labor-intensive processes, thus setting a strong foundation for future growth.
Company Profile and Achievements
Fresho has significantly transformed the fresh food supply chain by providing robust software solutions:
- Platform Technology: Fresho’s platform offers real-time order processing, automating the entry and management of orders through AI. It provides a closed marketplace experience for both suppliers and buyers, allowing for accurate inventory tracking and reducing food waste.
- Global Operations: Fresho supports thousands of suppliers and tens of thousands of chefs worldwide, processing over 30 million orders annually.
- Customer Base Expansion: Since its inception, Fresho has steadily expanded its footprint in key markets, including the UK, Australia, New Zealand, and the US. Its client portfolio includes renowned Michelin-starred restaurants and top-tier foodservice providers.
- Innovation and Recognition: The company’s relentless focus on leveraging emerging technologies, such as AI, to advance operational efficiency has earned it recognition across various industry sectors.
- Strategic Partnerships: Over the years, Fresho has fostered strategic partnerships to enhance its service offerings and reach a broader audience.
Current Operations and Market Position
Fresho is now a leading player in the B2B food technology industry, providing solutions to improve efficiency in the supply chain of fresh produce. The platform is primarily used by fresh food wholesalers to automate orders, picking, delivery, invoicing, and payments. Its closed marketplace model ensures customer-specific product visibility and pricing, thereby reinforcing business relations between suppliers and clients. Furthermore, Fresho’s investment in AI continues to be a game changer in minimizing errors and optimizing operations.
Fresho App
The Fresho app is integral to the company’s service offering, allowing users to manage their orders and access real-time pricing and availability. The app facilitates direct connectivity between restaurants and suppliers, bolstering efficiency and accuracy in order processing. It has become a vital tool for many businesses within the food industry.
Fresho India
While Fresho's core operations are based in Australia, its reach extends to different markets, including India, where the app has notably strengthened supply chains. The integration of Fresho’s technology in Indian markets provides suppliers with the tools needed to streamline operations efficiently amidst a rapidly evolving business landscape.
Conclusion
Fresho has cemented its place in the fresh food wholesale industry with its innovative technology and robust strategic initiatives. By prioritizing efficiency and accuracy, the company has managed to address key challenges related to order management and supply chain inefficiencies. With strategic funding and continuous technological enhancements, Fresho is well poised for further expansion, particularly in the US market, and is set to significantly influence the industry with its forward-thinking approach.