Nigerian cold-chain startup Figorr (Formerly Gricd) has raised $1.5 million in seed funding to revolutionize perishables insurance with a data-driven approach.
The funding round was led by Atlantica Ventures VC Fund, with participation from VestedWorld, Jaza Rift Ventures and Katapult VC. Founded in 2019, Figorr leverages advanced analytics, machine learning algorithms, and real-time monitoring to provide unparalleled insights into temperature-sensitive cargo. This enables businesses in the agriculture and health sectors to proactively manage risks, prevent losses, and optimize their supply chain operations.
By harnessing the power of data and technology, Figorr is revolutionizing the perishables insurance sector and safeguarding the integrity and quality of perishable goods throughout the supply chain. The startup will invest the latest round of funding in accelerating its expansion plans, enabling them to scale its operations and establish strategic partnerships with key players in the cold-chain industry.
SunCulture, a Kenyan company providing solar-powered irrigation solutions and agricultural technology to smallholder farmers, has secured a significant investment of $27.5 million in a Series B funding round.
Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.
KCB Bank Kenya has received a significant financial boost from British International Investment (BII), securing a $100 million Tier 2 capital facility aimed at expanding lending to climate-related initiatives and women-owned businesses.
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