Food industry management software company Fresho has raised £8m to continue expanding in the UK and the US.
Fresho is an online B2B marketplace for businesses in the food industry. It lets purchasers see live prices and display orders for merchants on a dashboard.
The firm wants to address wastage and make food supply chains more sustainable. London users of the platform include Wild Honey, Polpo and the Bingham Riverhouse.
Fresho launched in the UK in 2021 and employs more than 60 people. It has 38,000 customers in the UK, Australia, New Zealand and the US, processing over £700m in orders each year.
James Andronis, co-founder and managing director, Fresho said: “B2B food supply chains are changing at a rapid rate around the world with an increased focus on efficiency and lowering waste. We understand the industry and our tech solves key pain points for these businesses.”
Fresho recently worked with Apple & Pear Australia Ltd to provide data on the different varieties of fruit it grows and consumption levels. The data could then be used to modify what is grown going forward.
“Our customers can now order and pay online – it’s super simple to use and has saved us heaps of time and money already. In only a couple of months, 60% or more of my customers are now ordering on Fresho which is amazing really,” said Ali Ahmet, owner, Adams Wholesale.
“We started from nothing and now we’re a £20m business – with Fresho we’re all set to grow even faster now,” added Ahmet.
Investors in the Series A round were Capital Zed, Canva angel investor Andrew Sypkes and Australian Second Quarter Ventures.
Fresho’s platform takes a similar approach to Rooser, a seafood trading platform that connects buyers and suppliers with the aim to reduce wastage and increase margins. It recently reeled in £18m in funding.