FreshFry Inc. is stuffing its stockings with cash.
The Louisville-based food tech startup has raised a $1.7 million round of funding, according to a U.S. Securities and Exchange Commission filing.
The equity round includes three investors, with the first date of sale listed a Dec. 12.
It’s not clear how FreshFry intends to use the funding. Co-founder and CEO Jeremiah Chapman did not immediately respond to a request for comment.
Founded in 2014, FreshFry produces a plant-based oil purification system consisting of pods that can extend the life of frying oil by collecting and dissolving impurities (water, acids, metals and other substances that come from food), allowing restaurants to save time, labor and costs.
On average, the pods can extend the oil life by two to three days, leading to a net savings of approximately $1,500 per pod. Each case of pods can also offset 8.2 pounds of carbon emissions.
The capital raise comes less than a year after FreshFry inked a global deal with Church’s Texas Chicken, in which the chain agreed to use the FreshFry Pods at all of Church’s 1,750 restaurants across the world.
That deal came on the heels of an agreement with Sysco (NYSE: SYY) that included distribution to Canada, Europe, South America and the Caribbean.
With FreshFry’s latest round of funding, the company has raised nearly $7 million in total, according to SEC filings.
