AoFrio

What AoFrio does

AoFrio is a New Zealand-headquartered, NZX-listed (ticker AOF) hardware-enabled SaaS company that provides IoT connectivity, monitoring, and analytics for commercial refrigeration. Its core offering, the AoFrio iQ platform, aggregates telemetry from more than 3.2 million connected coolers globally to deliver predictive failure detection, energy optimization, temperature monitoring, and commercial intelligence to beverage brands and bottlers. The platform is fed by a hardware portfolio that includes Cellular Gateways, Refrigeration Controllers, IoT Monitors, and the AoFrio INSIDE OEM-embeddable module, alongside the legacy Wellington ECR motor and fan-assembly business (17.6 million+ motors shipped cumulatively). Customer-facing software is delivered through the SCS Connect System suite of mobile applications (Connect Track, Connect Field, myCooler, ECR Universal Programmer) backed by AWS cloud infrastructure.

The company sells primarily to enterprise beverage customers via direct field sales, with named relationships at Coca-Cola, PepsiCo, ABInBev, Heineken, Nestlé, FEMSA Colombia, Arca Continental, Brasal Refrigerantes, and Coca-Cola Andina. Revenue is generated through a mix of connected-device hardware sales and recurring platform subscriptions, with pricing delivered via custom quote-based annual contracts. Go-to-market is direct enterprise sales supported by regional offices in New Zealand, Australia, the United States, Mexico, Brazil, Singapore, Italy, and Turkey; in March 2026 the CRO relocated to Atlanta to anchor a North American expansion push.

AoFrio also pursues adjacent verticals including supermarkets/convenience retail, food safety, dairy, and heat pump water heaters, and positions its eight-year telemetry asset as the foundation for future AI-driven commercial intelligence applications. The company is publicly listed on the NZX, raised NZ$9 million in June 2026 to fund global expansion, and has stated that the raise was undertaken amid concerns over thin cash flow and slow revenue growth. Leadership includes Chairman John Scott and a board with prior CEO and Oracle SVP experience, with operational sales and engineering leadership in New Zealand, the US, and Latin America.

Name

AoFrio

Legal name

AoFrio Limited

Website

https://aofrio.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

AoFrio is an NZX-listed hardware-enabled SaaS company providing IoT connectivity, predictive monitoring, and analytics across 3.2M+ commercial refrigeration units for enterprise beverage brands and bottlers globally.

Ownership category

akta.pro rank

Product category

Commercial Refrigeration IoT / Connected Cooler Platform

NAICS

Other Communications Equipment Manufacturing (334290), Other Communications Equipment Manufacturing (33429)

SIC

Communications Equipment, Nec (3669), Computer Communications Equipment (3576)

akta.pro industry

PRIMARYTLAEAFAA

OEM Embedded Connectivity & Telematics Platforms

Transportation & Logistics/Logistics Technology & Telematics (TMS/WMS, Tracking, ELD/IoT)/Fleet Telematics & Connected Vehicle IoT Platforms

SECONDARYHDAFAEAI

Embedded & Industrial Network Interfaces (PCIe/M.2/SOM/SoC NICs)

Hardware, Technology & Telecom/Networking Equipment & Components/Network Interface & Adapter Hardware (NICs/Transceivers)

Keywords

• Commercial refrigeration IoT
• Connected cooler platform
• Refrigeration fleet management
• IoT hardware sensors
• Energy efficient motors

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices8 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. IoT/SaaS Platform Subscriptions: Hardware-enabled SaaS model providing IoT solutions for commercial refrigeration. Platform subscriptions for connected cooler management, monitoring, and analytics services.
2. Connected Device Hardware: Sale of IoT hardware including controllers, gateways, monitors, and ECR motors for commercial refrigeration equipment

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

AoFrio provides IoT-enabled SaaS solutions and connected hardware for commercial refrigeration fleets, enabling beverage brands, bottlers, and refrigeration OEMs to remotely monitor, manage, and optimize their cooler assets. The core SaaS platform AoFrio iQ delivers real-time alerts, predictive failure detection, temperature monitoring, and commercial intelligence powered by data from 3.2M+ connected coolers. The offering is complemented by proprietary hardware including Cellular Gateways, Controllers, Monitors, AoFrio INSIDE OEM integration modules, and Wellington ECR Motors with over 17.6 million units sold.

Product overview

AoFrio is a hardware-enabled SaaS company providing intelligent IoT solutions and SaaS platforms for commercial refrigeration management. The core product is AoFrio iQ, an end-to-end SaaS platform that transforms commercial refrigeration fleets into connected, profit-driving networks with real-time alerts, remote management, and actionable insights. The IoT hardware portfolio includes the Cellular Gateway, Refrigeration Controllers, and IoT Monitors (Connect Monitor) that connect equipment to the platform, plus AoFrio INSIDE — an OEM integration module that embeds IoT connectivity into third-party refrigeration equipment. The separate Wellington-branded motor business (Wellington ECR Motors and Wellington Fan Assemblies with customization options) serves as an adjacent hardware line focused on energy-efficient refrigeration motors. AoFrio also offers a suite of mobile applications — Connect Track, Connect Field, myCooler, and ECR Universal Programmer — for fleet management, field operations, and cooler/programmer management. The platform spans over 3.2 million connected coolers globally and serves industries including soft drinks, beer and alcoholic beverages, dairy and ice cream, supermarkets, food safety, and heat pump water heaters.

Differentiator

Problem solved

Functional benefit

Brands

• AoFrio iQ: End-to-end solution for transforming cold drink equipment fleet into a connected, profit-driving network with real-time alerts, remote management, and actionable insights.
• AoFrio INSIDE
• Wellington ECR Motors
• Wellington Fan Assemblies

Products and services

• AoFrio iQ End-to-end SaaS platform for managing connected commercial refrigeration fleets, providing real-time alerts, remote management, and actionable insights for beverage and food customers to maximize profitability, control costs, and optimize operations.
• Cellular Gateway Hardware device providing cellular connectivity for AoFrio's connected cooler ecosystem, enabling IoT data transmission from refrigeration equipment to the cloud platform.
• Refrigeration Controllers Hardware devices that manage and monitor commercial refrigeration equipment, enabling IoT connectivity and integration with the AoFrio platform for fleet-level oversight.
• IoT Monitors (Connect Monitor) Devices used to connect and monitor commercial refrigeration equipment, providing remote visibility into equipment performance and status.
• AoFrio INSIDE IoT integration module enabling refrigeration OEMs to embed connected cooler technology into their equipment, extending the platform's connected fleet reach and supporting predictive maintenance, energy optimization, and commercial intelligence.
• Wellington ECR Motors Energy-efficient refrigeration motors sold globally, supporting the energy efficiency and sustainability goals of commercial refrigeration operators. Over 17.6 million units sold.
• Wellington Fan Assemblies Complementary hardware products to the ECR motor range, providing complete cooling airflow solutions for commercial refrigeration equipment.
• Customization Services Service allowing customers to tailor Wellington ECR Motors and Fan Assemblies to specific refrigeration OEM requirements, providing bespoke hardware solutions.
• Connect Track Mobile application within the AoFrio IoT Ecosystem for fleet asset tracking and field management, developed by AoFrio Ltd (formerly Wellington Drive Technologies).
• Connect Field Mobile application within the AoFrio IoT Ecosystem for field service operations, developed by AoFrio Ltd (formerly Wellington Drive Technologies).
• myCooler Mobile application within the AoFrio IoT Ecosystem for cooler management, developed by AoFrio Ltd (formerly Wellington Drive Technologies).
• ECR Universal Programmer Mobile application for programming Wellington ECR motors, developed by AoFrio Ltd (formerly Wellington Drive Technologies).

Quantifiable outcome

• 767% ROI for FEMSA Colombia over 12 months with zero motor failures
• +5 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• BIER (Beverage Industry Environmental Roundtable)coreStrategic or Co-development Partner · 1 January 2021AoFrio joined BIER Coolition, a global collaboration with Beverage Industry Environmental Roundtable comprising major worldwide beverage companies working together to advance environmental sustainability. Focus areas include standards and regulations, circularity, and energy efficiency innovation for commercial refrigeration.
• Amazon Web ServicescoreTechnology or IntegrationCloud infrastructure provider for SCS Connect System users. AWS powers the cloud database and data processing for AoFrio's IoT ecosystem.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Samsara: Public IoT platform that connects physical assets (vehicles, equipment, sensors) and layers SaaS analytics on top — the closest business-model analog to AoFrio's hardware-enabled SaaS approach for connected coolers, though applied to vehicles and industrial assets.
• Geotab: Major fleet telematics platform providing connected hardware (GO device) plus a SaaS analytics layer sold enterprise-wide — directly comparable to AoFrio's combined gateway/controllers + AoFrio iQ SaaS model, just deployed on trucks rather than beverage coolers.
• PowerFleet: IoT/telematics company serving connected assets across industrial and logistics use cases (including refrigerated assets) with a hardware + SaaS model — competes for the same customer-mindshare of 'connected asset intelligence' that AoFrio sells into beverage companies.
• ORBCOMM: Specialized IoT connectivity and SaaS provider for fleets and cold-chain assets, with cellular gateways and asset-monitoring platforms — closely mirrors AoFrio's model of pairing cellular hardware with subscription software for distributed equipment fleets.

Broad incumbents

• Carrier (Lynx / Refrigeration IoT): Global refrigeration OEM building its own connected/refrigeration-IoT platforms (e.g., Carrier Lynx) — a direct incumbent overlap with AoFrio INSIDE and potentially the largest threat if Carrier prefers to own the connectivity stack on its own coolers.
• Emerson (Cold Chain / ProAct Services): Industrial automation incumbent with cold-chain monitoring and refrigeration controls — competes with AoFrio on both refrigeration hardware and remote-monitoring SaaS, and could vertically integrate its own IoT layer against AoFrio.
• Danfoss: Global refrigeration controls and compressor manufacturer investing in IoT/connectivity for commercial refrigeration — a natural vertical-integration threat to AoFrio INSIDE within the OEM channel.
• Honeywell (Cold Chain / Forge): Diversified industrial incumbent with refrigeration controls and the Forge IoT platform — overlaps with AoFrio on both the equipment layer and the enterprise SaaS layer for connected assets, and could choose to compete directly with AoFrio iQ.

Emerging players

• Monnit: Smaller IoT sensor and monitoring platform focused on remote temperature and equipment monitoring, including commercial refrigeration use cases — a more direct niche overlap with AoFrio's monitor/controller product line for SMB and enterprise cold-chain buyers.
• Controlant: IoT/cold-chain visibility provider using cellular trackers plus a SaaS dashboard for pharma and food retailers — directly comparable solution architecture to AoFrio iQ, just with different end verticals (pharma/food retail vs beverage bottlers).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/AoFrio_IoT
• YouTubeyoutube.com/@aofrio
• Facebookfacebook.com/AoFrio-Ltd-61551106140936
• LinkedInlinkedin.com/company/aofrio-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AoFrio