SEATTLE, WASHINGTON, USA — April 5, 2023 — Transparent Path, a Seattle-based technology startup focused on advanced real-time supply chain technologies, announced it has been awarded a substantial grant from ReFED, a national non-profit dedicated to ending food loss and waste through data-driven solutions. The company was one of seven organizations to receive a grant as part of the ReFED Catalytic Grant Fund. The fund is an initiative designed to provide impact investments that de-risk and scale solutions to food waste.
“Grant funding can be particularly catalytic, in that this particular type of capital can support high-potential solutions that are not traditionally appropriate for market-rate investments and also grow a pipeline of investable opportunities by de-risking early-stage market-based solutions,” explained Caroline Vance, Director of Capital, Innovation, & Engagement at ReFED. “Our hope is that the ReFED Catalytic Grant Fund can support that same sort of impact.”
The primary goal of the grant is to reduce consumer food waste. Transparent Path aims to support that goal through the further development of two products: FreshScore™, its unique algorithm that predicts product freshness before it is shipped, and ProofScan™ – the company’s consumer-focused mobile app.
“We founded Transparent Path to keep critical perishables out of landfills,” said Eric Weaver, CEO of Transparent Path. “And food waste happens across all aspects of its lifecycle: pre-harvest, post-harvest, distribution and consumption. It’s both an industry issue and a consumer issue.
Data as a scalable factor in food waste reduction
“Data is the key element to reducing food waste. Getting that data, and the resulting transparency, to parties all along that lifecycle enables so many more options than we currently have,” said Weaver. The sensor data we collect can inform both businesses and consumers to make better decisions. It also powers algorithms that can predict how fresh food will be over time. That means more agility and efficiency for commercial operations. It also means consumers can make better decisions about purchases and consumption.”
“Imagine scanning purchases at retail and seeing actual certifications, safety records or shipment routes. Imagine being able to see a dynamic freshness score for a salmon fillet or a pork chop – today, tomorrow, or next week,” Weaver continued. “Imagine that fillet, hiding in your refrigerator’s meat drawer, and your phone nudging you to cook it in the next 48 hours. This data enables better decision-making and better food management.”
The ReFED grant will fund the refinement of FreshScore and the further development of the ProofScan app over the next 6-8 months.
Mark Kammerer, Transparent Path’s chief commercial officer, will speak at the 2023 ReFED Food Waste Solutions Summit, May 16-18, 2023, in St. Louis, Missouri. His topics will include Empowering Consumers: The Latest and Greatest Resources to Reshape Attitude and Behaviors, on May 17, and How to Leverage Catalytic Capital to Scale Impact, on May 18. Investors and prospective customers are invited to connect with Mark at the Summit.
About Transparent Path
Transparent Path spc is a technology company focused on building advanced, eco-friendly logistics visibility. Our mission is to keep products out of landfills — reducing costs, waste and risk for the buyers and sellers of critical perishables goods like food, medicines, blood/plasma, and chemicals.
Powered by its own proprietary IoT sensors, cloud software, and predictive AI, Transparent Path’s secure, scalable platform provides manufacturers, processors, logistics partners and retailers with the ability to see and act upon supply chain issues in real-time. As a result, Transparent Path’s customers know immediately when something goes wrong, can act to prevent risk, and can anticipate supply chain issues before they occur.
Headquartered in the US, Transparent Path was founded by Eric Weaver, a 30-year enterprise transformation specialist. Prior to founding Transparent Path, Weaver launched the Xerox Customer Experience Practice, where he managed a $550M services book of business. Joining him on his mission are senior executives from IBM, Amazon, Microsoft, Target, Kraft, and General Mills.
Please visit transparentpath.com to learn more.
For more information, please contact Transparent Path at +1 408 475 7775.