Friday, May 2, 2014

FreshRealm Gets $10M For Food Technology

Santa Paula-based Calavo Growers--best known for the growing and marketing of avocados--announced Thursday that its subsidiary, FreshRealm, has raised $10M in funding for a new, food distribution technology. The funding came from Impermanence, LLC. According to Calavo, FreshRealm is developing a temperature-controlled, resuable shipping vessel and cloud-based software aimed at improving food distribution and reducing food waste. The company said that FreshRealm has been beta testing its hardware and software since December, and is preparing for a commercial launch later this year. Calavo said that Michael Lippold, its former Director of Strategic Development, has been appointed CEO of FreshRealm along with the funding. Calavo said that it now owns 50 percent of FreshRealm after the funding round. More information »