Oversubscribed Series B funding round to accelerate AI innovation and US expansion as platform passes 30mn orders
Fresh food wholesale ordering platform Fresho has announced the successful close of its US$17mn Series B funding round, bringing total investment to US$50mn to date.
Fresho was founded in 2015 by James Andronis, drawing on 15 years experience running one of Australia’s leading seafood wholesalers, and Huw Birrell, a technology entrepreneur with international finance expertise.
The platform was designed to change the way fresh food wholesalers and their restaurant customers work together and has now processed 30mn orders with 10mn orders in the past year alone.
The oversubscribed round welcomed both new and existing shareholders, led by Geoff Tarrant, co-founder and former executive chairman of Payapps, the global construction software firm acquired by Autodesk for US$600mn in 2024. Tarrant, who also served as director of ASX-listed Adbri, will join Fresho’s board of directors.
Andronis, who also serves as chief executive of Fresho, said the fresh food industry was increasingly embracing technology.
“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,” said Andronis.
“Fresh food distribution has been traditionally slow to adopt technology, but a confluence of factors is 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.”
Fresho has helped to digitise the operations of leading wholesalers and strengthened
existing supplier-restaurant relationships with its closed marketplace model. The company said the impact is particularly visible in daily operations.
“Where suppliers once dedicated overnight staff to manually process orders arriving through emails, texts, and voicemails, Fresho’s AI-powered system now automatically converts incoming orders into structured data, while giving restaurants direct access to live pricing and availability through its app,” the company said in a release.
“This transformation has not only eliminated unsociable working hours but has dramatically improved order accuracy and processing speed.”
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 on-ground presence in the US market in 2025, building on successful launches with customers in Texas, New York, and California over the past two years.
Birrell, Fresho’s COO, said the funding marks an exciting new phase for the company.
“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,” said Birrell.
The platform has been adopted by prestigious establishments, including Michelin-starred venues such as Wild Honey within Sofitel St James in London, Cote and Le Bernardin in New York City, and leading 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,” said Ali Ahment, owner of Adams Fruit & Veg Wholesale in Worthing, UK.
Peter Marinos of Big Michael’s Fruit and Vegetable, based in Brisbane, Australia, said the wholesaler has been using Fresho for six years.
“It’s a partnership and we’ve been growing together. Getting it right for me means showing my customer that we’re big enough to be where he needs us, but small enough to care about the little things. And that’s where the technology is better than you,” Marinos said.
“It can handle the 2,500 customers we supply, each with tailored pricing, a favourites list, specific delivery instructions, proof of delivery, and even note that a particular guy only wants smaller cucumbers.”
