Spark Capital Leads $115M Series B Financing of Afresh to Help Food Waste
Gunderson Dettmer represented client Spark Capital as it led the $115 million Series B financing of Afresh, an AI-powered fresh food technology provider that aims to reduce food waste. The company utilizes a Fresh Operating System that helps forecast inventories and improves store operations to increase profitability for brick and mortar retailers and wholesalers. Afresh will use its new capital to expand its operating system’s capabilities to support meats and baked goods and grow its customer base.
In the announcement of the transaction, General Partner at Spark Capital Will Reed said, "The transformative results that Afresh provides are not only seen in grocers' bottom lines, but also extend to the impact on our planet through the reduction of food waste. We're proud to support Afresh through their next stage of growth as they continue on their mission to curb climate change and improve our ability to feed the world in healthy ways."
The Gunderson Dettmer deal team was led by Michael Hacker and included David Horne, Gabriella Stearns, Morgan Clarke and Kelvin Chan.