Food tech start-up Fresho has raised $9 million in funding from private investors. The tech platform allows food distributors, wholesalers and processors to automate their ordering, invoicing and warehouse management to improve efficiency.
Investors include Aconex founders Leigh Jasper and Rob Phillpot, Andrew Sypkes (early stage investor in Canva, Aconex and Zoox), the Tarascio family of Salta Capital and Geoff Tarrant, Zuuse chair and Adelaide Brighton board member.
The cloud-based technology, drives a more efficient and accurate ordering process between food and beverage businesses and their suppliers.The start-up was launched in 2016 by James Andronis and Huw Birrell. For Andronis, previously the CEO for seafood distribution company Clamms Seafood, it was about finding a solution for an “old, antiquated and hands-on industry”. “I worked the night shift in the food industry for twenty years so have firsthand experience of the time pressures and 24/7 operational issues food businesses face,” Andronis says.
“Food businesses were really calling out for a fix to the antiquated faxing, texting and email ordering that was taking place. And, more broadly, Australia and New Zealand are focused on sustainability and concerned about food wastage, so we created technology that generates genuine shared-value,” Andronis says.
The application is fully mobile and desktop-optimised, he says, much like an online shopping experience but tailored to the food industry. Buyers see live prices and specials so can make informed product choices helping to manage their food costs.
For suppliers, orders come in on an easy to use dashboard which reduces errors and helps them fulfil orders without delay. The real time sales data enables suppliers to manage their stock levels more efficiently and eliminates wastage before it becomes an issue.
For Birrell, customer support is “fundamental” to Fresho’s business model. Unlimited, 24/7 support, on the ground Fresho support at launch and ongoing training are core features, he says.
“In the first 12 months of operation we spent time testing the business model, user experience and listening to what our customers needed. Today, those customers – both suppliers and food businesses – are telling us that we’re driving major efficiency and new business for them, helping them achieve better commercial returns,” Birrell says.
Fresho’s software is a simple one-touch solution to ordering, invoicing, payments, reporting, warehouse management, product pricing and more. The solution can be integrated with any accounting system.
Fresho is being used by food suppliers such as Scicluna’s, De Costi Seafood, Kailis Bros and Andrews Meat and restaurants and venues such as Rockpool, Movida, IGA’s, Quay Restaurant and Bakers Delight.
The platform currently processes about $1 million in gross order value every day.
