Melbourne foodtech startup Fresho has raised $9 million in funding from a group of private investors including Rob Phillpot and Leigh Jasper, co-founders of Aussie construction startup success story Aconex.
Investors also included the Tarascio family of Salta Capital; Zuuse chair Geoff Tarrant; and Andrew Sypkes, an early investor in Aconex, Canva and Zoox.
Founded in 2016 by Huw Birrell and James Andronis, Fresho is a tech platform allowing food distributors, wholesalers and processors to automate their ordering, invoicing and warehouse management, to improve efficiency.
Speaking to StartupSmart, Andronis, who was formerly chief executive of seafood distribution giant Clamms Seafood, notes that this is an old, antiquated and hands-on industry.
“The management and owners are very time poor,” he says.
Even when he was in the industry, he didn’t really consider the inefficiencies in the way things worked.
“To be honest, I didn’t really think there was a better way until I was out of the industry and had time to reflect on it.”
After leaving Clamms Seafood, Andronis caught up with Birrell, an old friend, who “presented a bit of a concept”.
The pair each made notes, and “we ran with it”, Andronis says.
“It really blossomed from there … it didn’t really take long for us to realise we could have a big impact on the businesses in the industry.”
Now, the platform processes about $1 million in gross order value every day.