Photo - Fresco Labs
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Fresco Labs

Brazil
Market: Food industry, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 19.07.2022
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Idea

Fresco Labs is a predictive software company on the mission to eliminate food waste. We help fresh food grocers to reduce waste and stockouts by offering AI-powered order recommendations.

Current Status

On their first pilot they reduced on avg. 64% waste and 57% stockout of a large chain in Brazil, increasing 2x profits. Currently integrating/piloting with 3 chains, including the largest fresh food grocer in Brazil. Selected Top25 Startups in the world by Global Entrepreneurship Cup.

Problem or Opportunity

Only the Brazilian supermarket chains throw away 2 billion dollars worth of food every year. Fresh foods represent 81% of that, and sum up to 4x more waste, and up to 35% lost revenue.

But why are supermarkets wasting that much?
1. Managing fresh food is hard (no Shelf lifetime, no barcodes or exp. dates, sold by weight)
2. The current solutions are built for standardized products, meaning non-fresh food.
3. Those solutions just don’t work with fresh food. So supermarkets are relying on human intuition and manual calculations to make the most critical decisions of their stores.

Solution (product or service)

Fresco Labs helps fresh food retailers to reduce waste and stockout of fresh food with artificial intelligence by predicting demand and ordering right. We empower supermarkets by suggesting how much and when to buy each item of their stores.

Business model

We are a BSB SaaS company, and we offer a subscription model, where we get 30% of everything is saved.
Our pricing strategy was built to target all clients of all sizes with adjustable prices, therefore we offer two types of pricing calculations:
1) Value per item category per retail area
2) 0.07% of total revenue

Incubation/Acceleration programs accomplishment

TechStart Food Innovation & Venture Hub
UScale Sustainability Program by University of Miami
Newchip (ongoing)
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