Smart kitchen company Fresco raises €18m in new funding round

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. The “connects with Fresco” brand certifies appliances that can be controlled from smartphones, tablets, smart speakers, and smart home assistants, while the app can guide consumers through the cooking process.

It also uses artificial intelligence to pull recipes into the Fresco app from other websites, and highlight the important information for cooks in an easy to follow format. Fresco is tapping into a smart appliance market that analysts predict will have 248 million users by 2027.The Series B financing round is the first time that the company has taken funding from appliance partners, with the round led by Instant Brands and Vorwerk, and a third backer to be announced later in the year as part of a new partnership.

“We realised that a lot of appliance manufacturers were looking at how important connected cooking is, how important one platform that sits across the whole kitchen is and that they wanted it to be an independent company and not delivered by any one appliance manufacturer,” he said. The company pulled a syndicate of appliance manufacturers together for the funding round, deciding on a maximum of $20 million.

Prior to this round, Fresco had raised around $25 million in funding, including a $20 million Series A round in 2020. Its backers include

 

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