US-based food distribution software developer Afresh Technologies today received $12m of series A funding from investors including Maersk Growth, the corporate venturing unit for shipping, transport and energy group AP Moller – Maersk.
The series A round was led by Innovation Endeavors with additional participation from Food Retail Ventures, Impact Engine and Baseline Ventures.
Founded in 2017, Afresh has built a range of software tools that enable food retailers and supply chains to optimise operations through artificial intelligence-driven metrics such as product perishability and unit costs. The series A capital will drive business expansion.
Afresh closed a $6.1m round also branded a series A in September 2019 that was led by Innovation Endeavors and backed by Baseline Ventures, adding to $1.7m it had already raised at an undisclosed date according to Inc.