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.
Janngo Capital, an African venture capital firm, has successfully closed its second fund at $78 million, exceeding its initial goal of $63 million by 20%.
Seedstars Africa Ventures I, a venture capital fund dedicated to early-stage startups in Africa, has reached a landmark $42 million first close.
Husk Power Systems, a pioneering cleantech startup operating in Africa and Asia, has successfully concluded its Series D funding round, raising $103 million.
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