ImpactAlpha, August 9 — The San Francisco-based company developed an AI-based system to help grocery store owners manage fresh food inventory and sales to reduce waste. Afresh says more than 3,000 grocery stores in the U.S., including Albertsons, Cub Foods and Save Mart, use the product to cut waste by at least one-quarter.
Afresh aims to reach 10% of all supermarkets in the country and plans to expand to Europe and break into other food categories. About 40% of all food produced in the U.S. is thrown away, most of which ends up in landfills. Afresh says by year’s end, it will help its customers save 34 million pounds of food waste going into landfills.
Afresh has raised $148 million to date. “Afresh is building a tool for the modern age that not only helps grocers manage fresh categories more effectively but also cuts down on food waste,” said S2G Ventures’ Walter Robb, former co-CEO of Whole Foods, who joined the round led by Spark Capital. VMG Partners, Insight Partners and Innovation Partners also participated.