Fresh Inset has closed an approximately PLN 12 million pre-IPO funding round, once again attracting demand significantly exceeding the amount offered. A global industry player operating in a segment critical to the Company’s business has become a meaningful shareholder in this round, underscoring Fresh Inset’s technological and commercial potential. The proceeds complete the Company’s private financing ahead of its planned listing on the main market of the Warsaw Stock Exchange (GPW) in 2026.
Fresh Inset’s technology addresses a challenge that the global fresh-produce industry has faced for decades. Its patented solution enables the controlled, gradual extension of freshness through a simple sticker, pad, label or print applied inside packaging. Vidre+® can be used at every stage of the supply chain — by growers, packing facilities, logistics operators and retailers — without requiring costly modifications to existing infrastructure.
The technology provides a practical response to the global challenge of food waste, which generates tens of billions of dollars in losses annually.
Fresh Inset is the first company to adapt an established and proven freshness-preservation method — used commercially on apples and pears for more than two decades — into a new application format that enables its use across a broad range of fruits, vegetables and flowers. The result is a portfolio of proprietary solutions protected by patents in more than 50 jurisdictions and supported by regulatory approvals in over a dozen markets, including the United States (FDA and EPA), the European Union and several Latin American countries.
Fresh Inset operates in a highly regulated industry in which each market requires separate product registration and regulatory approval. The past year was the first in which the Company was able to commercialize its solutions across multiple jurisdictions.
Consolidated revenue increased from approximately PLN 31 thousand in 2024, when the Company was primarily conducting implementation tests and pre-commercial pilot projects, to approximately PLN 7.7 million in 2025 (approximately USD 2.15 million). This represents a rare transition from a near-zero revenue base to commercial-scale sales across multiple international markets.
Fresh Inset currently sells its products in the United States, its largest market, as well as in several Latin American countries and across the European Union.
The Company plans to enter additional strategic markets in 2026, including its first markets in Africa (South Africa and Morocco) and Oceania (Australia). Preliminary plans for 2026 assume a year-on-year doubling of revenue, supported by expansion into new markets and the first meaningful deployments in the packaging segment through cooperation with Avery Dennison, a global packaging and materials science company listed on the NYSE (NYSE: AVY) and a member of the S&P 500 Index.
“Fresh Inset should be assessed in many respects similarly to companies operating in the life sciences sector. We are built around proprietary, patented technology, have completed hundreds of laboratory and field implementation tests, and are among a small group of companies from our region that have secured regulatory clearances in multiple jurisdictions worldwide, including approvals from the FDA in the United States. In 2025, we also demonstrated that whenever regulatory approvals enable entry into a new market, sales can scale rapidly. This resembles the trajectory often seen in pharmaceutical companies after obtaining the necessary approvals for commercialization,” said Krzysztof Czaplicki, Member of the Management Board of Fresh Inset.
Fresh Inset has followed a textbook deeptech financing path. Founded in 2017 as a spin-off with the participation of industrial investor Synthex Technologies and financial investor Rubicon Partners, the Company has successfully completed several funding rounds.
Its Seed round was led by Infini, a fund co-financed by Poland’s National Centre for Research and Development (NCBR). Its Series A round was led by Montis Capital, backed by the Polish Development Fund (PFR), while its Series B round was led by Radix Ventures, supported by the European Investment Fund (EIF). The newly completed pre-IPO round includes participation from a global industry player.
Each stage of the Company’s development has therefore been validated by investors with expertise aligned to that specific phase of growth.
Investor interest has extended beyond institutional and industry investors. Fresh Inset also completed one of the largest funding rounds in Poland dedicated exclusively to business angels, raising PLN 12 million from several dozen individual investors. That round was likewise oversubscribed.
Including the latest financing, Fresh Inset has raised a total of PLN 67 million in private capital.
“A global industry player with extensive operational and commercial expertise has chosen to become a minority shareholder at this stage of the Company’s development. We view this as a strong validation of our technology and evidence that it aligns with the strategic priorities of leading companies in the sector. In our view, Fresh Inset has the potential to become one of Poland’s leading impact-driven technology companies — a business whose growth is directly linked to measurable environmental and economic benefits through the reduction of food waste on a global scale,” said Michał Chabowski, Member of the Management Board of Rubicon Partners, which has acted as investor and coordinator across all Fresh Inset financing rounds.
Fresh Inset’s potential is reflected in the experience of its team. The Company is being developed by an international group of experts with decades of experience in fresh produce, post-harvest technologies and global commercialization.
The team includes professionals who played key roles in AgroFresh’s USD 830 million Nasdaq IPO in 2015, as well as specialists involved in the development and commercialization of post-harvest solutions used worldwide.
The combination of operational, technological and capital-markets expertise provides Fresh Inset with unique capabilities for scaling deeptech innovations from laboratory development to global commercialization.
AgroFresh built significant market value around a single solution used primarily for apples stored in cold-storage facilities. Fresh Inset, by contrast, offers a broad portfolio of products — including stickers, tablets, pads, labels, active packaging solutions and direct-print applications — that do not require advanced cold-storage infrastructure and can be applied across a wide variety of fruits, vegetables and flowers.
This significantly expands the addressable market and provides a broader commercial foundation for future growth.
Fresh Inset S.A. is the next deeptech company, following Noctiluca, to be developed through the venture-building model created by Synthex Technologies and Rubicon Partners and to prepare for a listing on the Warsaw Stock Exchange.
The Company is supported by members of the DeepTech Consortium, including Radix Ventures, iif.vc, Rubicon Partners and the community of individual investors known as Rynkowi Rebelianci (Market Rebels).
Fresh Inset plans to debut on the main market of the Warsaw Stock Exchange in 2026 and expects to file its prospectus with the Polish Financial Supervision Authority (KNF) in the coming months. The recently completed pre-IPO round represents the Company’s final private financing round before listing.
Importantly, the planned IPO will consist exclusively of the admission of existing shares to public trading. The Company does not currently plan to issue new shares prior to becoming a public company.
Any future share issuances would be considered solely to support expansion of production capacity in response to specific contracts and customer demand. As a result, current and future shareholders are not expected to experience dilution as a consequence of the planned listing.
In practical terms, the next opportunity to acquire shares in Fresh Inset is expected to be at the time of the Company’s stock market debut.
“Fresh Inset has completed the full journey from scientific research conducted in our laboratory in Toruń, through the deeptech development phase, to industrial-scale commercialization. We were founded in Poland, financed in Poland, and continue to build our business around Polish scientific and engineering expertise. Today we sell our solutions on three continents and are preparing to enter additional markets. We believe Fresh Inset demonstrates that globally competitive technology can be developed and commercialized from Poland, and that continued investment in the scientific, entrepreneurial and financing ecosystem can create companies capable of competing on a global scale,” said Dr Andrzej Wolan, CEO of Fresh Inset.
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