News and Announcements
Revolutionary, AI-Driven, Multi-Patented Device for Monitoring of the Health of Fresh Produce | Won Multiple International Awards
- Published November 18, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
“An estimated 45% of all fruits and vegetables are either lost or wasted across the food supply chain. That’s nearly $1 trillion worth of fresh produce lost every year.
PostHarvest’s award-winning device can predict and forecast produce ripening up to 9 months in advance while simultaneously measuring the health of products in real-time. In recent trials, this allows for safer storage, less manual labour, and up to 40% less waste.
Our product pays for itself and has orders from some of the world’s largest supermarkets and industry names.
We have received multiple awards, grants, and match funding.”
John Shannon, CEO, Postharvest Technologies
Executive Summary
PostHarvest has created a revolutionary, AI-driven, multi-patented device for monitoring and analysing the health of fresh produce. It helps food producers and retailers reduce their storage and transport losses by providing users with accurate real-time data on the health and respiration rates of their fruit & vegetable supplies in as little as 3 hours, compared to the current industry standard waiting period of 7-14 days.
PostHarvest’s innovative service transforms storage monitoring from a reactive to a proactive practice, potentially saving billions of dollars across the globe each year.
Investment Highlights
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PostHarvest’s device has won multiple international awards and is now entering commercialisation with major client trials converting to purchase orders.
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The company is currently concluding trials with one of Australia’s major universities. It has expressions of interest from the top 30 clients within the sector, including two of Australia’s fresh food retailers and three major international companies based in North America and Europe.
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PostHarvest’s engineering efforts have been recognised with government R&D rebates successfully paid over the past two years.
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The company is led by a management team with a background in successful startups.
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The Refrigeration Monitoring Market is projected to grow from $7.4 billion in 2021 to $11.1 billion by 2025.
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PostHarvest has multiple patents and a world-class engineering team with extensive industry-specific experience in hardware and software development.
Investment Offering
PostHarvest is raising $2 million in shares at a $50 million valuation to fund the company’s commercialisation and production efforts.
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