Annual Awards Program Recognizes Innovation in Agricultural & Food Technologies Around the Globe
TORONTO – August 25, 2022 – Invafresh, the industry standard for fresh food retail operations, today announced it has been selected as the “Overall FoodTech Company of the Year” in the 2022 AgTech Breakthrough Awards conducted by AgTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global agricultural and food technology markets today.
Driven by real-time data analytics and enhanced by artificial intelligence, the mobile-centric Invafresh Fresh Retail Platform (FRP) allows grocery retailers to optimize their demand forecasting, merchandising, replenishment, and compliancy and sustainability across their entire Fresh operations.
The Invafresh Intelligent Fresh Forecasting engine works as a single source of truth for decisioning and operations across all points of the customer experience – demand, production, availability, and delivery.
It proactively forecasts to illuminate anomalies, inefficiencies, and waste within Fresh operations, while also anticipating real-time consumer demand accurately to avoid shrink and out-of-stocks. By providing a just-in-time, unified Fresh forecast, Invafresh ensures grocery retailers always provide the freshest product variety and quality for their customers.
“By reducing thousands of tons of food waste, we can reduce methane emissions from landfills and lessen the carbon footprint, while also fueling a more sustainable circular economy. Helping grocers stay on top of supply and demand as well as compliance can help with labor efficiencies and production planning and much more,” said Bryan Vaughn, Managing Director, AgTech Breakthrough.
The mission of the annual AgTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of agricultural and food technology categories, including Internet-of-Things (IoT) and Artificial Intelligence (AI) based agricultural technologies, farm management, indoor farming, food quality, data analytics and many more. This year’s program attracted more than 1,600 nominations from over 15 different countries throughout the world.
Invafresh has a proven record of transformative change working with 25,000 grocery stores across 15 countries resulting in 30% food waste reduction, 50% reduction in replenishment time, 5% fresh sales growth, 3% labor efficiency, and 100% fresher product.
“We’re thrilled to receive this award from AgTech Breakthrough – among so many other forward-thinking Agtech solutions. Invafresh is here to inspire grocery retailers to think forward and think fresh. We’re committed to transforming food technology and driving sustainability in the grocery sector,” says Tim Spencer, President & CEO, Invafresh. “Our customer results are the outcome of our drive, focus, and commitment by our industry-experienced team of FreshologistsTM. As a result, $150M in fresh food waste is eliminated annually and excess shrink is reduced by 30%, helping grocers maintain leadership positions.”
About AgTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AgTech Breakthrough Awards program is devoted to honoring excellence in agricultural & food technologies, services, companies, and products around the world. The AgTech Breakthrough Awards program provides a forum for public recognition around the achievements of AgTech companies and solutions in categories including farm management, indoor farming, FoodTech, automation, IoT and robotics, FoodTech, analytics and more.
For more information visit AgTechBreakthrough.com.