Additional capital for Axino

Axino helps food retailers digitize and automate their food quality management process to comply with increasingly complex food safety regulations. Axino’s unique solution combines advanced sensor technology with patented AI algorithms to pro-actively monitor and predict the core temperature compliance of each refrigerated food category in retail stores.

Current retail food quality management processes are time-consuming and often inaccurate, contributing to food and energy waste. Food waste represents roughly $18.2 billion annually in lost value for retailers and has become a critical consumer topic.

Working with industry leaders like Migros, Switzerland’s largest retail company, Axino has proven that the easy-to-install Axino solution enables food retailers to significantly increase food quality, reduce food waste and energy consumption in its stores.

In line with the investment from a new strategic partner and Momenta, Axino also announced the addition of Thomas Busin to the Axino Board of Directors. Busin brings over 30 years of retail quality management experience. As a quality leader and visionary, Busin will lead the implementation of the Axino food quality solution at many Migros stores in Switzerland.

Ken Forster, Executive Director of Momenta, adds, “We are pleased to increase our funding for Axino. Their solutions are a triple win for retailers – helping them save costs and energy, meet stricter food standards, and to better serve their shoppers with fresher foods. This is truly a first critical step in the digital transformation of retail.”

(Press release)