Evaluating only Frubana’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. That’s exactly how it died.
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Documented cause
Frubana built a B2B marketplace connecting restaurants with fresh produce suppliers across Colombia, Brazil, and Mexico. After raising $186M, the company struggled with the perishability economics of fresh produce — spoilage rates, last-mile cold chain costs, and the fragmented supplier base made unit economics unsolvable at the ticket sizes restaurants order. Frubana shut down in 2023.
Lesson
“Fresh produce supply chains have physics problems that capital cannot solve. Spoilage is a function of time and density. If you can't achieve minimum order density per zone before your runway runs out, the unit economics never improve.”
FAQ
Why did Frubana fail?
Frubana, a Colombian B2B fresh produce marketplace with $186M raised, shut down in 2023 because spoilage rates, cold-chain costs, and fragmented supplier bases made unit economics unsolvable at the ticket sizes restaurants order.