Monday, March 11, 2013
Fruit Grower Calavo Spins Out Technology Startup FreshRealm
In what might be one of the more unusual sources of funding for a startup, Santa Paula-based fruit grower Calavo Growers announced this morning that it has backed a new startup, FreshRealm, which will develop a new, cloud-based technology platform aimed at the fresh food market. Financial details of the deal were not disclosed. Calavo said it will be the majority shareholder in the new startup, along with undisclosed, strategic minority partners.
Calavo said the new technology startup, which is being led by Michael R. Lippold, will traditional retailers, large and small enterprises, communities and food banks to "plug in" to technology which it says represents a national fresh food cooperative. Other details of the technology platform and software were not released. Calavo Growers are best known for their avocados.