Toruń-based biotech startup Fresh Inset, which uses 1-MCP technology to extend shelf life and reduce food waste, has raised €2.7 million in a Series B funding round led by Radix Ventures to support its expansion.
- Founded in 2018 by Andrzej Wolan and Krzysztof Czaplicki, Fresh Inset develops technology to extend the post-harvest shelf life of fruits, vegetables, and flowers.
- The company’s flagship product, Vidre+™, uses a patented 1-MCP technology to protect crops from the damaging effects of ethylene during storage, transport, and retail.
- Vidre+™ works by blocking the binding of ethylene to receptor sites in plant cells, slowing down the ripening process and prolonging freshness.
- The technology releases the ethylene blocker gradually over time, triggered by humidity, and is applied through a simple, flexible sticker format or enhanced packaging.
- Vidre+™ works at any point in the supply chain, with no need for reorganization, cold rooms, or extra equipment. It is compatible with various crops and can be applied using biodegradable and recyclable packaging.
Details of the deal
- The investment was led by Radix Ventures is a Polish venture capital fund focused on late seed and Series A investments in startups across Central and Eastern Europe, with investment tickets ranging from €1 million to €2 million.
- In June 2024, Radix Ventures announced the first €41 million close of a targeted €60 million fund to support CEE startups.
- Fresh Inset will use the new funding to expand into key global markets, forge strategic partnerships in Europe, the USA, and Latin America, and scale its breakthrough freshness-extension technology, Vidre+.
