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Evigence Secures $18M In Series B Funding To Expand Commercialization Of Freshness Management System

PRIVATEJan 17, 2023

Amount Raised

$18 Million

Round Type

Series B

IsraelAgriculture and FarmingHealth CareFood And BeverageAnalytics

Investors

Food Retail VenturesPlanet CapitalLanda VenturesCleveland Avenue

Description

Evigence, a food technology company that provides first-time freshness data to optimize the freshness of foods, today announced the close of $18M in Series B funding. The round was led by Cleveland Avenue and included previous investor Landa Ventures, as well as Planet Capital, a privately-held partnership in Chicago. They join prior investment partners including Food Retail Ventures.

Quick answer

Evigence raised $18 Million in a Series B round, dated January 17, 2023. Investors: Food Retail Ventures, Planet Capital, Landa Ventures and Cleveland Avenue. Evigence is based in Israel.

How much did Evigence raise?
Evigence raised $18 Million in a Series B round on January 17, 2023.
Who invested in Evigence?
Food Retail Ventures, Planet Capital, Landa Ventures and Cleveland Avenue are named as investors in this round.
What does Evigence do?
Evigence’s Freshness Management System combines sensors and data analytics to empower food brands, retailers, and foodservice providers to measure and manage the freshness of foods in real time, at the unit level, from..
Where is Evigence based and how big is it?
Evigence is based in Israel.

Source: Fundz verified event record.

Who else raised in Agriculture and Farming and Food And Beverage around the same time

Companies in the same sectors as Evigence that raised within 45 days of this round, from Fundz verified event records.

  • 22nd Century raised $21M (Debt Financing) on March 3, 2023.
  • LOGEX raised an undisclosed amount on March 1, 2023.
  • Barvecue raised $1M (Seed) on March 1, 2023.
  • Terviva raised $20M on February 28, 2023.
  • Terraa raised $1.5M (Seed) on February 14, 2023.
  • ImageTrend raised an undisclosed amount on February 10, 2023.

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Company Information

Company

Evigence

Location

Israel

About

Evigence’s Freshness Management System combines sensors and data analytics to empower food brands, retailers, and foodservice providers to measure and manage the freshness of foods in real time, at the unit level, from end-to-end across the supply chain. Sensors are applied at the moment of packing and react to aggregate time and temperature exposure as food moves through the supply chain. Sensors can be scanned digitally and read with the naked eye in transit, at the retailer or restaurant, and in consumers’ homes for an instant read of remaining freshness. All scan data is uploaded to the Evigence Insights Engine for visualization, analytics and generation of insights to inform decision-making for corporate users. Evigence is based in Yokne’am, Israel with its commercial headquarters in Hoboken, New Jersey. The company holds 25 granted patents and is one of just two companies globally meeting strict World Health Organization standards for vaccine vial monitoring. Originally founded with a focus on healthcare, Evigence licensed its technology for vaccines in 2016 and pivoted to the monitoring and management of fresh foods.

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Funding Insights

What this usually means
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach

Evigence raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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