Monogram Capital Partners is a private equity investment firm focused exclusively on consumer and retail companies. The partners have invested more than $1.4 billion of equity capital primarily in consumer and retail businesses. Leveraging best practices and relationships from leading institutions, bring elite investing and advisory experience to the lower middle market. In partnership with management teams, the firm focuses on developing the next generation of category leaders by providing flexible capital, deep domain knowledge, and access to transformative industry relationships.

Monogram Capital Partners

Cleveland Avenue invests in seed-stage, early-stage, later-stage, and growth-stage deals focused on food and beverage companies, lifestyle consumer brands, AgTech, and technology companies.

Cleveland Avenue

Enlightened Hospitality Investments (EHI) is the strategic investment platform within Danny Meyer’s Union Square Hospitality Group (USHG), dedicated to driving growth for values-aligned companies in the hospitality and technology sectors. EHI leverages the businesses and professionals of USHG to identify growth potential and investment opportunities in both internal and outside ventures.

Enlightened Hospitality Investments

Melitas Ventures is a venture capital fund that invests in early stage food & beverage companies through the entire value chain, focusing on better-for-you food & beverage products.

Melitas Ventures

PreciTaste AI

PreciTaste is a first-to-market AI kitchen management software solution to optimize operations in foodservice brands with over 2,500 Food AI  systems deployed. Our market-proven solutions guide crews to prep, plan for and cook precise amounts of food based on predicted demand using proprietary deep tech, vision sensing, and AI assistance - all relayed through screens in the kitchen. A long-term leader in Restaurant AI with the most applications at scale, PreciTaste has developed plug-and-play software assistants to digitally manage key operations, like prep and order fulfillment, as well as full self-management solutions utizing computer vision to automate cooking to needs and order accuracy. Standalone or combined, our market-ready products work to drive productivity in the back-of-house and profit for our customers at a rapid pace.  With 10+ years in food AI applications, 80+ engineers and seven foodservice categories served, PreciTaste is leading the charge in AI automation through our suite of core products all developed to directly address the major labor and food challenges the industry is facing today.   Series A growth funding is led by Melitas Ventures and Cleveland Avenue, LLC and includes Enlightened Hospitality Investments (EHI) and Monogram Capital Partners.

<div>Based in New York, PreciTaste offers an AI-powered platform that optimizes operations at restaurants and minimizes food waste. PreciTaste&rsquo;s in-store food software platform uses its proprietary &ldquo;Vision AI&rdquo; technology secured by over 40 patents. The platform helps restaurants in a range of tasks including tracking orders, order forecasting, demand forecasting, and managing inventory levels.</div>

Tech solutions for achieving global anti-wastage targets

Food Waste

PreciTaste

<div>
 
 Based in New York, PreciTaste offers an AI-powered platform that optimizes operations at restaurants and minimizes food waste. PreciTaste&rsquo;s in-store food software platform uses its proprietary &ldquo;Vision AI&rdquo; technology secured by over 40 patents. The platform helps restaurants in a range of tasks including tracking orders, order forecasting, demand forecasting, and managing inventory levels.
 
 
 The software is stated to provide demand forecasts that are 95% accurate for up to two weeks in advance. The company claimed that its order accuracy guidance features allow restaurants to serve customers 5x faster and increase EBITDA by 100% by accurately ordering, staffing, and reducing food waste. The company&rsquo;s aim is to offer its solution as a standard for digital food AI management in fast casual and quick-service restaurant (QSR) kitchens. As of August 2022, PreciTaste&rsquo;s prep-monitoring system had been installed at over 1,500 locations in the US. The company operates its business beyond the US with a presence across Germany and India.&nbsp;
 In 
 <a href="https://sp-edge.com/updates/15755">
 January 2023
 </a>
 , the company launched a range of off-the-shelf products: Prep Assistant, Planner Assistant, and Station Assistant, to assist workers in mid-sized quick-service restaurants and fast casuals and ensure instant labor efficiency and expedite profitability.
 
 
 For further product development, the company partnered withFranke Foodservice Systems, a leading foodservice solution provider supporting major restaurant chains in implementing kitchen and equipment improvement campaigns. Via the partnership, PreciTaste users are to be provided with further insights when implementing the PreciTaste software solution.&nbsp;
 
 
 In August 2022, PreciTaste raised USD 24 million in a 
 <a href="https://sp-edge.com/updates/12424">
 Series A
 </a>
 funding round led by Melitas Ventures and Cleveland Avenue. 
 
 
 
</div>

<div>
 
 Apeel Sciences produces edible coatings made of plant materials that extend the lifetime of fruits by 2-3x with the goal of preventing food wastages in regions where there is a lack of refrigeration. According to the company, US retailers that use Apeel experience a 50% reduction in waste alongside a 5%-10% growth in sales on average. As of July 2021, Apeel Sciences reported to have saved around 69 million pieces of produce from going to waste at retail stores by partnering with small family-owned farmers, local organic growers, grocery stores, and large food brands. As of August 2021, the company was offering its solution to a network of 30 suppliers and 40 retailers across eight countries, including the US, UK, Spain, Netherlands, and Kenya. The company focuses on expanding its market presence across North America and the EU. 
 
 
 The company&rsquo;s early years were supported by a Bill and Melinda Gates Foundation grant of USD 100,000 in 2012 and Andreessen Horowitz, which led the company&rsquo;s 2016 Series B funding round. Celebrities such as Oprah Winfrey and Katy Perry have also invested in Apeel.
 
 
 In May 2020, Apeel announced plans to expand to Sub-Saharan Africa, Central, and South America&mdash;all regions where food wastage is increasing. In May 2021, Apeel Sciences acquired startup Impact Vision for an undisclosed amount. Impact vision&rsquo;s technology allows suppliers to see inside their fresh produce and ultimately reduce post-harvest loss, optimize distribution, while continuing to extend shelf-life. 
 
 
 In August 2021, the company raised USD 250 million in a Series E funding round led by Temasek at USD 2 billion valuation. The company expects to use the funds to expand its product distribution across the US, UK, and Europe by accelerating deployment of its product across its existing supplier network and by partnering with 10 new suppliers by the end of 2021. The company also plans to use the funds to strengthen its data and insights offering and support its future acquisition plans.
 
</div>

Apeel Sciences

<div>
 
 Shelf Engine provides demand forecasting tools for perishable food items to reduce inefficiencies in the ordering system and minimize overall costs. According to Shelf Engine, more than 30% of highly perishable foods in grocery stores such as meat and vegetables expire before the sell-by date. Shelf Engine’s scan-based trade (SBT) technology guarantees sales and pays for any items that remain unsold. Via the SBT, Shelf Engine manages orders, pays vendors, and only charges the retailer for what sells while still paying suppliers for their full order and increasing its accuracy over time. Shelf generates revenue by charging a mark-up on the product from the vendor to the retailer.
 
 
 The pandemic benefited Shelf Engine as grocers found it difficult to manage orders during lockdown. In March 2021, Shelf Engine raised USD 41 million in a Series B funding round led by General Catalyst to further invest in its growing team of engineers, data scientists, and supply chain automation experts. As of March 2021, Shelf Engine operated in more than 2,000 grocery stores and claimed to increase profit margins by more than 50% by reducing food waste by as much as 32%.
 
</div>

Shelf Engine

<div>
 
 Afresh began as a research project in 2017 to develop AI-powered software that optimizes the entire food supply chain. Specifically, the company offers an in-store solution for grocery stores that applies artificial intelligence to manage the freshness of food. According to the company, implementation of its technology has led to a 25%&ndash;45% reduction of in-store food waste and increased gross margin of fresh produce sales by 4 percentage points. The company generates revenue under a SaaS model.&nbsp;I
 n 
 <a href="https://sp-edge.com/updates/16835">
 March 2023,
 </a>
 the company expanded into fresh departments, including meat, seafood, deli, and food service.
 
 
 Some of Afresh's key customers include Fresh Thyme Market, WinCo Foods, and Heinen&rsquo;s. In 2019, the company also reported that it had established partnerships with three US grocery chains, each with more than 100 stores in operation. &nbsp;The company also collaborated with Bashas&rsquo; Supermarkets Inc. (a chain of grocery stores based in North America with over 100 stores) in September 2021 and New Season Market (a chain of 19 privately owned grocery stores) in October 2021 to pilot the &ldquo;Afresh AI-driven software solution&rdquo; at selected stores. In 
 <a href="https://sp-edge.com/updates/15786">
 January 2023
 </a>
 , Afresh and Albertsons Companies announced the completion of an enterprise rollout of the Afresh predictive ordering and inventory management platform. As of January 2023, the company&rsquo;s technology was deployed across 3,000 stores in 40 states in the US, and it also reported that it was able to triple its customer base in 2021. Afresh notes that it is on track to help retailers save 34 million pounds of food waste by the end of 2022.
 
 
 In August 2022, AFresh raised USD 115 million in a 
 <a href="https://sp-edge.com/updates/12187">
 Series B 
 </a>
 funding round led by Spark Capital. Following the USD 13 million funding round in November 2020, the company was valued at USD 100 million.&nbsp; 
 
 
 
</div>

AFresh

UK-based Winnow Solutions identifies and measures waste in commercial kitchens. The company records the reason for the waste, calculates the value of the wasted food, and keeps track of this data in the cloud. The company’s self-titled product shares technology with autonomous vehicles, using cameras to record and learn about food being wasted and calculate the financial and environmental cost of this discarded food. Winnow Vision also provides a Waste Monitor solution to help kitchen staff track how and what food is wasted to adjust their spending on food ingredients and eliminate overproduction.Key customers and partnershipsWinnow’s customers include the catering company <a href="https://sp-edge.com/updates/5386">ISS</a> and hotels such as Accor, Fairmont, The Westin, Four Seasons, and Hilton Tokyo Bay. As of June 2023, Winnow claims that its AI solution has so far saved customers USD 174 million and cut 217,000 tons of CO2 emissions worldwide, equivalent to taking nearly 50,000 cars off the road for a year.Funding and financials<a href="https://sp-edge.com/updates/27315">In March 2024</a>, the company raised an undisclosed amount from ABC Impact to accelerate its expansion into the Asian market. Previously, In June 2023, the company raised USD 10 million in a Series C funding round led by ArcTern Ventures.

Winnow Solutions

<div>
 
 Hazel Technologies is a United States Department of Agriculture (USDA)-funded technology company that develops a packaging which releases vapors that slow the aging process and prevent fungus or decay. Its solution is claimed to double the shelf-life of produce. Hazel operates a B2B business that targets large enterprises. The company has reported treating 700 million pounds of produce as of 2019, saving about 60 million pounds from going bad in 2019 alone. The company has a target to save one billion pounds of produce from going to waste by the end of 2021. Hazel operates in 12 countries including the US and Chile (entered in October 2020). 
 
 
 Hazel works with around 250 foodservice providers and produce companies including the likes of Sysco, Mission Produce, Zespri, Calavo, and Oppy. The company reported in 2019 that it plans to develop new products such as antimicrobial packaging for berries, grapes, and other fruit, and also expects to launch its shelf-life extension technology for meat products.
 
 
 Since 2016, the company has received a total of USD 1.5 million from the USDA to develop its technology. Hazel received the USDA funding in December 2020 for solving the problem of unwanted sprouting in potatoes. In April 2021, the company announced that it had closed a USD 70 million Series C financing round led by Pontifax Global Food and Agriculture Technology Fund (Pontifax AgTech), and Temasek, to expand operations across Southeast Asia, Africa, and the EU. 
 
 
 
</div>

Hazel technologies

Solutions that keep food waste out of landfills

Recycling and upcycling food waste to keep them out of landfills

IoT-enabled waste prevention techniques for purposes such as longer shelf-life and inventory management

Waste prevention analysis platforms use AI/ML

Startups that prevent food wastage by prolonging the lifetime of food or better managing food production through the supply chain. Companies that develop products such as sanitizers, containers, and machines that allow food to stay fresh longer are included here. Startups that develop algorithms to determine food preservation strategies are also included.

PreciTaste

Food Waste

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PreciTaste launches new offerings for mid-sized restaurants to streamline operations

PreciTaste raises USD 24 million in Series A funding

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