The Munich-based startup FreshDetect has received seven-figure funding from Bayern Kapital. With the funds from the successful Series A financing round, FreshDetect intends to develop its handheld device for fast and location-independent microbiological or bacterial quality testing of food products to series production and launch them on the market.
A group of investors, including lead investor nbr biotec ventures GmbH, Bayern Kapital GmbH, and business angels, is now financing the startup with a seven-figure sum. The nbr biotec ventures GmbH consortium consists of Fabian von Kuenheim (Kuenheim Familiaris GmbH), Kuwaiti investor Ali MT Alghanim, and other private investors.
Fresh meat? What FreshDetect does
Founded in early 2013 by entrepreneurs Oliver Dietrich, Dr. Ralf Hasler and Mathias Reichl, FreshDetect GmbH has developed an innovative handheld device for the microbiological testing of food. So far, the device has been used (for now) only for meat inspection. The handheld device can inspect meat in seconds, safely, cost-effectively, and even through the packaging, detecting, for example, bacterial contamination. This makes virtually seamless and preventative microbiological quality control possible for the first time throughout the entire processing process.
"Given the recurring food scandals, FreshDetect's problem-solving approach, experienced team, and business plan immediately convinced us. In addition to partnerships with future customers, FreshDetect has also managed to win leading institutes and universities in the food sector as long-term partners.", explains Bavaria CapitalManaging Director Dr. Georg Ried about the investment. Bayern Kapital has been financing young, innovative technology companies in Bavaria with venture capital for around 20 years.
