UK and Australia-based food startup Fresho announces $17 million funding round and expansion in the US

Fresho, an order management platform for fresh food wholesalers, has announced the close of a $17 million Series B funding round, bringing total investment to $50 million to date. 

The oversubscribed round welcomed both new and existing shareholders, led by Geoff Tarrant, Co-Founder and former Executive Chairman of Payapps, a construction software firm acquired by Autodesk for $600 million in 2024. Tarrant, who also served as director of ASX listed Adbri, will join Fresho's board of directors. 

Founded in 2015 by James Andronis, drawing on 15 years' experience running an Australian seafood wholesaler, and Huw Birrell, a technology entrepreneur with international finance expertise, Fresho’s platform recently celebrated processing its 30 millionth order since 2016, with ten million orders in the past year alone.

"We are pleased to have closed this round in a challenging fundraising environment. This speaks to the size of the opportunity, and to our record of consistent growth and capital management to date," says Andronis.

“Fresh food distribution has been traditionally slow to adopt technology, but a confluence of factors are causing this to change. These include margin pressures, skills shortages and questions of succession in family owned firms. As a result, we are seeing unprecedented interest in how technology can drive efficient operations, better customer service, and improved work/life balance for owners and managers." 

"This funding marks an exciting new phase for us as we double down on our commitment to reshape the fresh food supply chain with innovative tech," says Birrell.

"By investing in AI and emerging technologies, we're not just enhancing operational efficiency; we're enabling our customers to stay ahead in a rapidly evolving market. As we expand across our existing markets and enter the US, our focus remains on pioneering solutions that help fresh food wholesalers deliver outstanding service with speed, precision, and insight." 

The platform has been adopted by the likes of Michelin starred venues such as Wild Honey within Sofitel St James in London, Cote and Le Bernardin in New York City, and restaurants like Bennelong and Cafe Sydney in Australia.

"Finally after 12 years of trying to develop or buy a usable online system, we met the Fresho people and got what we always wanted. Our customers can now order and pay online – it's super simple to use and has saved us heaps of time and money already," says Ali Ahment, Owner of Adams Fruit & Veg Wholesale in Worthing, UK. 

The new funding will accelerate Fresho's investment in AI and emerging technologies, while driving further growth in the UK, Ireland, Australia, and New Zealand. The company will also establish an on-ground presence in the US market in 2025, building on launches with customers in Texas, New York, and California over the past two years. 

Tarrant comments: "As a shareholder for more than five years, I have seen the great business James, Huw and the Fresho team have built over that period. I am excited by the opportunity Fresho has to improve the way the fresh food industry operates.”

“The software platform it has built together with recent AI advancements will provide benefits for all participants in the fresh food market. I look forward to joining the board as part of my further investment in the recently completed capital raising."

2024 RTIH INNOVATION AWARDS

Startups were a key focus area for the sixth edition of the RTIH Innovation Awards.

The awards, sponsored by Vista Technology Support, Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, Business France, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended last week’s gathering.