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.
Shekel Mobility, a B2B auto dealers marketplace catering to the African used car market, has secured $7 million in funding to propel its growth and expansion plans.
South African freight platform Linebooker has secured $3.5 million (R67 million) in investment from ARC Investments, a leading African investment firm.
Finnish development financier Finnfund has announced a $5 million mezzanine loan to Communication & Renewable Energy Infrastructure (CREI) to support the installation of hybrid power solutions for telecom sites in South Sudan.
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