# FrescoFrigo Srl

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/frescofrigo

- Industry: Internet
- Headquarters: Verona, Italy
- Website: www.frescofrigo.it
- Total disclosed funding: $3.7M
- Latest round: Seed (Jul 9, 2019)
- Investors on record: 9

## About

Based in Italy, FrescoFrigo Srl specializes in the development and distribution of automated smart fridges for commercial applications, enhancing operational efficiency for food producers and distributors across Europe.FrescoFrigo Srl, established in 2018 and headquartered in Verona, Italy, develops automated smart fridges tailored for various commercial applications. The company has secured a total of EUR 1.8 million through investment rounds, with the most recent deal completed on September 22, 2020, involving contributions from CDP Venture Capital and Digital Magics. The founder, Enrico Pandian, has contributed to establishing a strong foothold in the smart refrigeration sector.FrescoFrigo specializes in the development and distribution of automated smart fridges designed for a wide array of commercial applications. The core offering includes a plug-and-play fridge equipped with a sophisticated digital infrastructure that enables remote monitoring, automated inventory management, and customizable software solutions tailored to specific client needs. These fridges serve various end users, particularly food producers, distributors, vending machine operators, and businesses seeking innovative solutions for on-site meal provision without staffing. Since its inception in 2018, FrescoFrigo has positioned its products within Europe, specifically targeting markets in Italy, Switzerland, Canada, and Austria, providing clients with an efficient 24/7 sales channel that diversifies their offerings and enhances customer engagement.FrescoFrigo generates revenue primarily through direct sales of its smart fridges and the accompanying proprietary technology. In the most recent year of 2023, the company reported revenue of EUR 393,227.50, with an EBITDA of EUR -234,868.80. The company's transaction structure is designed around B2B relationships, where food producers and distributors purchase the fridges to facilitate their operations. Clients typically enter into service agreements that encompass not only the initial sale but also ongoing software support and integration services, ensuring that the fridges are optimized for performance. The pricing model reflects the advanced capabilities of the technology, including features like remote diagnostics and payment integration with meal vouchers, reinforcing its value proposition to business clients. Revenue is further supported through partnerships with welfare portals, which allow corporate employees to conveniently utilize meal vouchers for purchases, thus enhancing user experience and client retention.FrescoFrigo aims to expand its product line with new features and enhancements designed for its automated fridges. The company is focusing on entering new markets, specifically targeting expansion into the markets of Germany and France by late 2024. The recent venture funding of EUR 1.8 million raised in September 2020 will be strategically utilized to further develop product capabilities and support market entry initiatives.

## Funding rounds

- Seed, Jul 9, 2019, $0.3M — Digital Magics, Club Degli Investitori
- Seed, May 9, 2019, $1.4M — Embed Capital, MEGA holding, Metrica Ventures, Wonder S.p.a, Epta S.p.A.
- Seed, Oct 18, 2018, $0.6M — Pyramid Technology Ventures, Embed Capital, Pariter Partners, Wonder S.p.a
- Seed, Jan 28, 2018, $1.5M — Embed Capital, MEGA holding

## Investors

- Embed Capital (https://capitalatlas.ai/funds/embed-capital) — Seed
- MEGA holding — Seed
- Pyramid Technology Ventures (https://capitalatlas.ai/funds/pyramid-technology-ventures) — Seed
- Pariter Partners (https://capitalatlas.ai/funds/pariter-partners) — Seed
- Wonder S.p.a — Seed
- Metrica Ventures — Seed
- Epta S.p.A. — Seed
- Digital Magics (https://capitalatlas.ai/funds/digital-magics) — Seed
- Club Degli Investitori (https://capitalatlas.ai/funds/club-degli-investitori) — Seed