gro intelligence funding
Home Business Startup Kenyan Data Analytics Startup Gro Intelligence Secures $85m Series B Funding Round
Startup - January 11, 2021

Kenyan Data Analytics Startup Gro Intelligence Secures $85m Series B Funding Round

Gro Intelligence, a Nairobi-based data analytics startup has raised an US$85 million Series B funding round, which in some way is the largest funding ever raised by an African tech Startup to drive the rapid scaling and international adoption of its platform.
The data analytics startup was founded in Nairobi in 2014 with offices recently opened in New York, Gro Intelligence leverages AI-driven insights to provide solutions to challenges in food, agriculture, and climate change.
In order to illuminate the interrelationships between food, environment, trade, agriculture and macroeconomic conditions, the Gro Intelligence platform aggregates, normalizes and models complex data, combining over 40,000 data sets and processing north of 650 trillion data points for consumer segments ranging from governments to financial institutions, agricultural input firms, retailers, food and beverages.

Its US$85 million Series B round, which according to Disrupt Africa is the largest one yet within the African tech startup ecosystem, was co-led by Intel Capital, Africa Internet Ventures – a strategic partnership between TPG Growth and EchoVC, and the family offices of Ronald Lauder and Eric Zinterhofer.

Schusterman Family Investments, Dick Parsons, Rethink Food and various strategic family offices were all new investors, with previous investors DCVC and GGV Capital joining them.

The funding will be used to accelerate the Gro Platform’s growth and global acceptance, improve the machine-learning capabilities of the platform and provide regional insights into food, agriculture and climate risk.

Gro’s founder and chief executive officer (CEO) Sara Menker (pictured above) said, “Food security and climate risk represent existential global-sized opportunities for our AI-powered decisions and insights platform. We see a tremendous need for the market knowledge provided by the Gro Platform.

Our customers have come to rely on Gro as a unique source of actionable data-driven insights about our food supply and models to measure and manage associated climate change risk to physical and financial assets across the globe. We are absolutely delighted to welcome our new investors and continue to be grateful to our existing investors for their support.”

Leave a Reply

Check Also

Son of South Africa’s Second-Richest Person Secures Ownership of Nigeria’s Foremost Beverage Can Producer

Jonathan Oppenheimer, a billionaire businessman and environmental advocate, and son of Sou…


%d bloggers like this: