Ripe-Guard, a startup based in Kiryat Shmona that is developing a technology platform for predicting the shelf life of fruit and vegetables, today announced that it has completed an NIS 3 million ($930,000) seed round led by Terralab Ventures, the tech incubator of Terra Venture Partners, and the Israel Innovation Authority.
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Founded in 2019 by Shaul Naschitz, Ph.D., Ripe-Guard's Chief Scientist, and CEO Itamar Lupo, Ripe-Guard was established to commercialize technology developed at the MIGAL Center for Postharvest Innovation. Its goal is to reduce the overwhelming volumes of depreciation and waste that typify the $2.3 trillion fruit and vegetable industry, leading to the disposal of up to 45% of the produce grown.
"One of the key challenges facing the Fresh Produce industry is chronic unsurety about when produce will actually ripen and how long it will stay fresh," Lupo said.
"Ripe-Guard's shelf-life prediction system will make it simple and affordable to get accurate predictions of the dates at which produce will ripen and spoil. This, in turn, will lead to new efficiencies across the value chain that will save money and manpower, expand available food supplies and enhance the sustainability of the global fruit and vegetable industries," Lupo explained.
The funds raised in the current round will enable the company to finalize development of its technology.
