freshsurety 2-page summary 160526
TRANSCRIPT
Customer Problem
Food producers and retailers must meet escalating consumer demand for high quality fresh
produce from all over the world. However, there is currently no way to accurately measure
and track produce freshness from farm to grocer. FreshSurety offers the only cost effective
answer to this challenge, increasing product yields and profitability at the same time.
Product/Service
FreshSurety provides a proprietary solution that measures temperature, moisture and
metabolites (such as ethanol) to determine the ripeness of each food carton using low cost
disposable chemical sensors. We provide producers and retailers with up-to-the-minute shelf
life information on individual cartons and pallets throughout the supply chain, anywhere in the
world.
Target Market
We target the $600 billion world fresh food industry and its $120 billion logistics and spoilage
expense. Our customers are retailers and fresh food producers responsible for delivering
high quality produce to consumers and businesses worldwide.
Sales/Marketing Strategy
We are teaming with industry leading retailers and producers to demonstrate FreshSurety
technology for specific products (e.g. fresh strawberries) prioritized by demand and value. As
each product is established, we extend the service to additional customers and then move on
to other products.
Business Model
We make money providing real time product freshness information for client use in business
management and process optimization. This information enables clients to deliver higher
quality fresh produce with lower spoilage loss for a projected average savings of $250 per
pallet. FreshSurety target service fee is $40 per pallet with a projected servicing cost of $8
per pallet. (Potential U.S. product service revenue: fresh strawberries - $70 million; fresh
tomatoes - $200 million; total domestic fresh products - $3.5 billion)
Competitors
FreshSurety currently has no direct competitor. Companies such as Zebra Technologies,
Honeywell-Intermec, Intelliflex and Sensitech utilize conventional RFID technology to track
location and truck-level temperature. They lack the ability to measure and communicate
carton-level freshness and shelf life status that is critical to assuring product quality and
reduced spoilage loss.
Competitive Advantage
FreshSurety offers the only technology that cost effectively monitors carton-level freshness
and transmits real time updates for logistics management and quality assurance. Our
solution is compatible with all mainstream logistics monitoring and management systems.
COMPANY PROFILE
URL: freshsurety.com
Industry: Internet of Things, Logistics,
Fresh Food
Founded: December 2013
Funding Stage: Product Development
STATISTICS
30% of all fresh produce is lost from
farm to table
$200 billion is lost each year in produce
spoilage worldwide
75% of quality and 50% of shelf life is gone before it’s visually apparent.
MANAGEMENT
Tom Schultz, CEO
John Hodges, CTO
Mark Rippen, CSO
CONTACT
Tom Schultz
(480) 231-7832
FreshSurety Inc.
2025 Lee Road
Winter Park, FL 32789
DEVELOPMENT PARTNERS
Clemson University
Food-X / SOSV
Flex
SRI International
Triad Semiconductor Inc.
University of Florida
FreshSurety revolutionizes fresh food quality and economics with cutting edge wireless sensing technology. We report the location, environment, and freshness of individual fresh food cases anywhere in the world for a few cents per case. Our technology assures quality and higher retail margins by reducing product waste throughout the supply chain.
Assured Freshness. No Surprises
Carton-level fresh produce quality
tracking throughout the supply chain
Technology Summary Standard radio frequency (“RF”) technology isn’t capable of measuring and communicating fresh food quality in the cold chain at the carton-level – where the food actually is. Conventional monitoring technologies must reside outside of the pallet of cartons. When used this way, the RF waves are deflected or quickly absorbed, and thus do not reflect accurately the condition of the carton. In contrast, proprietary FreshSurety technology treats each fresh food pallet as a radio wave “dielectric composite” and utilizes a completely different approach to generate accurate results.
Our technology enables the wireless assessment of fresh foods for spoilage inside of every carton without manually disassembling, checking and reassembling each pallet. We can report the location, environment, and freshness of individual fresh food cartons anywhere in the world for a few cents per case. FreshSurety technology is the only known approach for effective FEFO (First-Expiry-First-Out) inventory management for fresh food products.
Our Approach Accurate measurement of temperature and metabolites (such as ethanol) requires sensors that are in close proximity to the product. Radio waves launched inside closed boundaries form radio wave resonators that fill the food pallet with radio energy. RF resonators with a large dielectric shift (such as a pallet of fresh produce and air) can be used to form hybrid resonance modes. We use these features to power inexpensive RFID sensors and communicate from inside each pallet with minimal interference with other devices.
This is combined with Swarm Intelligence (the collective behavior of decentralized, self-organized systems) to create a system that transmits accurate process metrics such as moisture, temperature, and metabolites at the carton and pallet level.
FreshSurety technology utilizes very low cost RFID sensors that wirelessly monitor any type of palletized fresh food product and communicate condition real time over the Internet anywhere in the world.
Better Data, Better Control
We make fresh food logistics Big Data possible by transforming each carton of food into a “thing” in the Internet-of-Things universe, residing in a highly scalable Cloud-based time/location database. Product-specific food spoilage rules engines convert metric values into shelf-life status reports delivering a quantitative freshness assessment of every carton and pallet.
Producers, shippers, and retailers now have the ability to utilize FEFO supply chain management to deliver significantly safer, higher quality, and lower cost
COMPANY PROFILE
URL: freshsurety.com
Industry: Internet of Things, Logistics,
Fresh Food
Founded: December 2013
Funding Stage: Product Development
STATISTICS
30% of all fresh produce is lost from
farm to table
$200 billion is lost each year in produce
spoilage worldwide
75% of quality and 50% of shelf life is gone before it’s visually apparent.
MANAGEMENT
Tom Schultz, CEO
John Hodges, CTO
Mark Rippen, CSO
CONTACT
Tom Schultz
(480) 231-7832
FreshSurety Inc.
2025 Lee Road
Winter Park, FL 32789
DEVELOPMENT PARTNERS
Clemson University
Food-X / SOSV
Flex
SRI International
Triad Semiconductor Inc.
University of Florida
Carton-level fresh produce quality
tracking throughout the supply chain Assured Freshness. No Surprises