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AoFrio

End-to-end refrigeration asset management platform

Overview

AoFrio provides hardware-enabled software for managing commercial refrigeration, pairing the AoFrio iQ SaaS platform with smart hardware to oversee a fleet of refrigeration units. The system uses sensors to collect data, tracks location, monitors performance, and sends automated alerts while offering AI-powered insights through a unified dashboard. Its differentiator is the tight hardware-software integration backed by 25+ years of refrigeration experience and a track record with major brands, with a focus on energy efficiency and reducing environmental impact. The goal is to help food and beverage brands run more reliable, efficient refrigeration while lowering energy use and emissions.

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About AoFrio

Simplify's Rating
Why AoFrio is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Food & AgricultureData & AnalyticsHardwareIndustrial & Manufacturing

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

Auckland, New Zealand

Founded

1986

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Simplify's take

What believers are saying

  • Ask iQ targets 77% of beverage respondents wanting AI predictive maintenance within 12 months.
  • First food retail contract opened a new revenue line across 70 supermarket stores.
  • James Rice's Atlanta move accelerates North American expansion and commercial partnerships now.

What critics are saying

  • Nine-month 2026 revenue fell 20% to $50.3 million as motors collapsed.
  • US motor tariffs already hurt earnings, and management expects growth only in 2027.
  • If IoT adoption stalls, AoFrio stays tethered to shrinking hardware sales and margin pressure.

What makes AoFrio unique

  • AoFrio links 3.7 million coolers globally to one fleet-data platform.
  • Ask iQ, launched October 2026, turns refrigeration telemetry into plain-language answers.
  • Latin American dominance and 40 years of refrigeration know-how separate AoFrio from generic IoT vendors.

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Benefits

  • Health Insurance
  • Flexible Work Hours
  • Remote Work Options
  • Professional Development Budget

Company News

Associated Press
Oct 26th, 2026
AoFrio launches Ask iQ, an AI tool for querying connected cooler fleets in plain language

AoFrio (NZX:AOF) has launched Ask iQ, an artificial intelligence (AI) feature in its AoFrio iQ software platform. Customers can ask questions about their connected cooler fleets in plain language, without building complex reports or searching multiple dashboards. Ask iQ analyses each customer's own fleet data to flag issues in asset protection, maintenance, commercial performance, and sustainability. It is built specifically for commercial refrigeration. The launch follows strong interest in AI. In AoFrio's 2026 industry survey, 77% of beverage company respondents wanted to trial AI-driven predictive maintenance within six to twelve months. Chief executive officer Greg Balla said early pilots onboarded more than 30 customers across Latin America, North America, Europe, and APAC. AoFrio has more than 3.7 million coolers connected to its platform.

Business Wire
Mar 24th, 2026
AoFrio CRO James Rice moves to US to drive expansion in beverage cooler IoT market

AoFrio, a New Zealand-based hardware-enabled SaaS company, is relocating Chief Revenue Officer James Rice from New Zealand to Atlanta, Georgia, to support its US expansion. The move follows the 2024 launch of AoFrio's iQ SaaS platform and cellular SCS 800 controller, targeting the US and European cold drink equipment markets. AoFrio designs IoT hardware and software solutions for commercial refrigeration, serving major beverage brands including Coca-Cola and PepsiCo. The company holds approximately 85% of the Latin American cold drink equipment IoT market and recently opened an innovation centre in Querétaro, Mexico. Rice will focus on deepening relationships with early adopters and developing commercial partnerships across North America and Latin America. AoFrio is also exploring opportunities in adjacent sectors, including food retail.

Wellington Drive Technologies
Dec 2nd, 2021
Wellington Drive Technologies Ltd hired David Burden as Chief Customer Officer on Jan 1st 18'.

Wellington Drive Technologies Limited (“Wellington”), the world’s leading provider of IoT solutions and high efficiency motors for commercial refrigeration, has appointed David Burden to the role of Chief Customer Officer.

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