Freshflow is building the intelligence infrastructure for food supply chains.
Their core product is an AI forecasting system for optimal food quantity orders. It helps improve margins through less waste, increase top-line potential through sufficient & fresher stock, and save buying staff significant time in purchasing food. Food waste makes up between 8% and 10% of global GHG.
Why we invested in:
- The climate case: Food waste is responsible for 25% of the FALU sectors’ emissions - as a third of the world’s produced food is wasted. This amounts to 3.3 Gt of CO2e from production and transport - with wasted land use adding another 40% to total emissions from food waste. 40-50% of global food waste is root crops, fruits, and vegetables.
- The business case: Freshflow’s AI technology can help grocery retailers optimise orders, and cut back on food waste (shrink) - saving them money, while also improving the top-line by avoiding out-of-stocks. In an industry with wafer-thin profit margins, their software offers a substantial financial upside, even more so in times of inflation. This attractive proposition is demonstrated in a primarily inbound pipeline.
- The team: Both founders are machine learning engineers. During his studies in Computer Science at ETH Zurich, CEO Avik Mukhija founded two companies, with Freshflow being his third venture. Leading up to Freshflow, he had developed & sold AI solutions to grocery retailers. CTO Carmine Paolino is an experienced technology leader - having begun his career at Capgemini, before spending 3 years as a Senior Data Scientist at OLX Group. Carmine has also worked for The Alan Turing Institute.