Freshsens uses Controlled Atmosphere, Internet of Things & Artificial Intelligence to achieve best storage & profit for fresh produce.
Current Status
We have finished our MVP. We have two clients and 3 more will join them in the Cherry Season of Turkey 2023. We have 10.000 USD Revenue so far.
Market
The global cold storage market size is worth $135.81 billion as of 2022 and is expected to expand at a CAGR of 13.4% from 2022 to 2030. The market has benefited significantly from strict regulations governing the manufacture and supply of sensitive products. The industry is poised for unprecedented growth over the forecast period due to growing organized retail sectors in emerging economies. In addition, increased automation in cold storage is expected to further increase demand.
Refrigerated storage has become an integral part of Supply Chain Management (SCM) when it comes to transporting and storing temperature sensitive products. In addition, the increased trade in perishable products is expected to help drive demand for refrigerated storage solutions over the next few years. Users and suppliers of temperature-controlled packaging systems are trying to reduce the environmental impact of cold chain shipping.
Freshsens, with its unique technology, is a candidate to become a major player in this rapidly developing market. We planned our entry into the market on Cherry and Pomegranate, one of the most valuable products of the land we came from. In our country, we address a market of approximately 200 million USD in exported cherry and pomegranate products.
Problem or Opportunity
Freshsens developed an IoT sensing system that can be used in controlled atmosphere modules. Changing a manual process to complete automation makes operation much smoother and profitable. On top of that, we are developing an AI system that can forecast spoilage before it happens.
Solution (product or service)
With the IoT sensors we developed for the controlled atmosphere technology which is being used to extend the storage period of agricultural products, we can monitor the real-time freshness of fruits and vegetables, and by processing the obtained data with artificial intelligence, we inform the user which product to sell first, based on their freshness.
Competitors
We have two main competitors. One based in the USA (Strella Biotech) and the other based in Belgium (Optiflux). Strella Biotech has an IoT sensor which measures Ethylene instead of respiration as Freshsens and Optiflux do, which makes them unusable for fruits & vegetables that are not climacteric, which do not continue to ripen after harvest. Optiflux on other hand has a cabled system which makes them unusable for controlled atmosphere modules & containers, therefore in practice they are also only working with climacteric fruits. Freshsens has developed a wireless IoT and respiratory-based sensor that does what both of our competitors can do.
Advantages or differentiators
We use AI to predict freshness of the fruits & vegetables and thus, sustain our competitive advantage.
Business model
We have a sales approach that includes hardware sales + software subscription. And we have a renting option which is a Storage as a Service approach with hardware and software renting.
