Phood provides a back-of-house hardware and software system that uses computer vision and AI to measure what kitchen crews discard in venues such as grocery ready-to-eat departments, university dining halls, and healthcare facilities. The platform turns waste measurements into actionable insights so teams can refine ingredient ordering and menu decisions. The company positions its value around cost savings and labor reductions, and reports up to 50% volume reductions, up to 10% item profitability improvements on key items, and labor reductions by up to 90% versus existing shrink or inventory practices. Customers reportedly see a return on investment within the first 50 days of using the platform. Phood raised an oversubscribed $2 million seed round co-led by New Stack Ventures and Story Ventures during the COVID-19 pandemic, when fundraising was conducted largely virtually. The new funding will be used to expand the offering to Amazon’s Whole Foods Market, which is trialing the platform in several U.S. East Coast locations.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Nov 2020