Startups like New York-based foodtech business Fraîche are hoping to be the brand feature that brings employees back into workplaces. The startup, which was launched in 2019, received $2 million in early capital from supporters including Pascal Rigo of La Boulange, Jean Moueix of Petrus Winery, Bruno and Julien Caron of Bakerly, and the Newlab.
Fraîche (pronounced like crème fraîche) is a company that attempts to offer better food options to the workplace. It installs an auto-stocking smart fridge in offices and collaborates with restaurants such as Le Botaniste, Egg Shop, Pressed, and La Fermiere to offer food. Tximista Lizarazu, CEO of Fraîche, told that the company would offer its own private label items in the future.
All businesses need to do is decide how much per employee they want to subsidize, and Fraîche will supply and replenish the fridge every day. Employees may also use an app to access the contents of the fridge. Romain Afflelou, co-founder of Cosmo Connected and one of Fraîche’s early investors, said he admired the company’s momentum and how it was exploiting the fact that employers are willing to spend more money on their staff. In terms of how people move, eat, and recover, he often invests in firms that tied to the world of tomorrow.
“Fraîche supplies all of the food alternatives at the office,” he noted, “and employees can obtain more economical, fresh, and cleaner meals.” “You may eat at the same spot Monday through Friday and receive new items each day.” Meanwhile, many workplace cafeterias closed during the worldwide epidemic and were unable to reopen due to a lack of staffing, according to Lizarazu. Even his own firm was not immune to the effects: Fraîche lost all of its sites at first, but four months later, the tides turned.
As a result, you would suppose that something like Fraîche would not work since the Omicron variation keeps people at home a bit longer. Lizarazu, on the other hand, claimed that the firm only requires 30 workers in an office to make what they do function.
In addition, even if 15 percent to 20 percent of offices never return, he remains confident since 80 percent of the market is still available, he noted. “Companies want to make their offices a better place to work, to persuade workers to return, and to allocate more funds to health and wellbeing,” Lizarazu explained. “The market is turning right now, and we’re starting to sell more and move faster.” We invested in technology and built the product in 2020, and now we’re ready to roll it out.”
Customers are utilizing the fridges three to four times a day to collect meals and snacks, despite the fact that the firm has only been open for a few months. Lizarazu predicted that businesses would spend $5,000 each month, but she has seen double that amount. Fraîche’s annual income ranges from $80,000 to $150,000 per machine, which covers fridge maintenance and food delivery, which he claims is comparable to what New Yorkers presently spend to order meals and have it delivered, but with less friction.
This current round brings the company’s total investment to $3 million. Tikehau Capital, Silverstein Properties, Newlab, Brooklyn Navy Yard, Ardian, and Ogury are among the companies that use Fraîche, and Lizarazu says that three more will launch in January.
He plans to utilize the funds to expand Fraîche’s presence in New York and its eight-person staff, notably in sales and marketing. He aims to hire two sales reps and have 20 workers by the third quarter of 2022. Since the summer, Fraîche has signed ten locations, with intentions to expand to 30 in the following nine months and 100 by the end of 2023. “Now it’s a matter of visibility,” Lizarazu explained. “We feel the market is ready, and our offices are extremely thrilled about what we’re doing as long as our salespeople are talking to the proper consumers.”
