Israeli food technology company Evigence has announced the completion of an $18 million in Series B financing round led by Cleveland Avenue with the participation of previous investors Landa Ventures, Planet Capital and Food Retail Ventures.
Evigence provides first-time freshness data to optimize the freshness of foods. The company's Freshness Management System combines sensors and data analytics to empower food brands, retailers, and foodservice to measure and manage the freshness of food in real time, at the unit level, from end-to-end across the supply chain. Having visibility into food’s actual remaining freshness has allowed Evigence customers to ensure food quality and safety, extend shelf life, reduce food waste, improve operational efficiency and build consumer trust.
Evigence founder and CEO Yoav Levy said, "At Evigence, we aim to redefine the way the world manages fresh food. Today there is no objective way to measure freshness. Small variations in temperature during transit or storage can lead to waste of perfectly good food on one end of the spectrum, or problems with food safety on the other end. Date codes don’t account for these fluctuations. We want to change the paradigm."
Published by Globes, Israel business news - en.globes.co.il - on January 18, 2023.
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