SnoFox, a New York-based business intelligence tool that provides data analytics for the global cold chain, raised $4.5 million in seed funding, bringing its total raised to date to $5.7 million.
The round was led by Voyager Ventures, with participation from Pale Blue Dot, Ponderosa Ventures, and Mudcake.
The funds will be used to reach new customers in more markets across the US, as well as hire new talent as demand for energy efficiency grows within the global cold chain.
SnoFox software platform leverages existing refrigeration data, proprietary algorithms, and remote technology to extract insights, enhancing cold storage warehouse efficiency without the need for any additional hardware.
Leveraging existing facility data and their proprietary algorithms, SnoFox provides advanced analytics solutions that precisely identify areas within cooling systems that can be improved to significantly increase energy efficiency, ultimately reducing waste and creating a sustainable cold chain.
"Every consumer in America relies on the cold supply chain, whether they realize it or not. From food to vaccines, so many valuable resources are wasted due to energy inefficiency. By optimizing the energy consumption within the cold chain, we can significantly reduce waste, ensuring that precious resources are utilized efficiently and sustainably," said Ben Rubin, CEO and co-founder of SnoFox. "I am incredibly proud of our exceptional team at SnoFox, whose relentless dedication and innovative solutions have paved the way for a greener, more sustainable future. With the support of our investors, partners, and our remarkable team, SnoFox is poised to revolutionize the global cold chain and usher in a future where sustainability and efficiency go hand in hand."
SnoFox plans to soon have 10 facilities across 7 U.S. states pioneering its technology for advanced machine learning and business intelligence in their warehouses.
Company: SnoFox Sciences, Inc.
Raised: $4.5M
Round: Seed Round
Funding Month: August 2023
Lead Investors: Voyager Ventures
Additional Investors: Pale Blue Dot, Ponderosa Ventures, and Mudcake
Company Website: https://www.snofox.com/
Software Category: Data Analytics Platform for Cold Storage Facilities
About the Company: Founded in 2020, SnoFox is a business intelligence tool for the cold supply chain. The SnoFox software platform leverages existing refrigeration data, proprietary algorithms, and remote technology to extract insights that enhance cold storage warehouse efficiency and reduce energy usage without the need for any additional hardware. SnoFox to improve operational efficiency, eliminate waste and reduce energy usage to create a sustainable cold chain.
Source: https://www.prnewswire.com/news-releases/snofox-launches-from-stealth-mode-with-4-5m-in-seed-funding-to-transform-the-cold-supply-chain-301890553.html