Freshflow has raised €6.5 million in funding to enhance its AI-driven platform aimed at reducing food waste in supermarket supply chains across Europe.

Information on the Target

Freshflow is an innovative Berlin and Paris-based startup established in 2021, focusing on optimizing fresh food supply chains utilizing artificial intelligence (AI). The company’s platform specifically addresses the unique challenges faced by grocery retailers, particularly within fresh produce departments. By automating daily ordering decisions, Freshflow has successfully driven waste reductions of over 20% and revenue increases of approximately 2-5%. After securing €6.5 million in seed funding, Freshflow aims to broaden its product offerings and expand its market reach further.

Freshflow’s platform has gained traction through partnerships with reputable retail chains such as Carrefour and Edeka, achieving significant growth in annual recurring revenue (ARR) that has now reached seven figures. The startup's funding round was co-led by prominent investors, indicating its potential for scalability and global impact in reducing food waste through cutting-edge solutions.

Industry Overview in the Target’s Specific Country

The grocery retail sector in Europe is confronted with the pressing issue of food waste, contributing to roughly 5% of the region's total annual wastage. European retailers discard an estimated 4 million tonnes of food each year, which translates to