Gro Intelligence, a Kenyan-based data analytics startup has secured an $85 million Series B funding round.
The fund rounding was a joint process led by, Africa Internet Ventures, Intel Capital and other investors including Eric Zinterhofer and Dick Parsons.
The fund raised appears to be one of the largest funding round in the African tech startup ecosystem.
The startup operates with an AI-powered insights process such that it offers analytics and solutions to the agriculture and climate bodies.
In 2014, Gro Intelligence was founded in Kenya and currently as an office in New York.
The startup collects, regularize and models compound data set to show the association that exists between agriculture, climate, trade and macro-economic conditions.
Also read, Why Global Investors need to invest more in Africa’s Tech Startup
The large data set is aggregated from government agencies, financial organizations, agricultural companies and other related industry participants.
According to the founder, the fund raised will be used to execute global adoption and acceleration.
This development will ensure that Gro Intelligence enhances its potentials while it continues to provide insights on agriculture and the climate.
Speaking on the raised fund, Sara Menker, Founder and CEO of Gro Intelligence 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,”
The founder explained that its users are relying on the startup’s ability to generate practical data-driven insights from complex data set around food, agriculture and climate change.
Sara expressed her delight in welcoming its new investors while expressing appreciation to the current crop of investors.
Also speaking on Gro Intelligence secured fund, Trina Van Pelt, Senior Managing Director at Intel Capital expressed her delight in participating as a co-leader in the fundraising coupled with the startup’s capacity to analyze data set for economic improvement.
“Gro Intelligence is one of the most exciting AI companies and is tackling two of the world’s biggest challenges: food security and climate risk.
Their software-based platform will drive compute-powered cross-border knowledge to surface meaningful insights and enable better informed agricultural decisions,”
Featured Image: Sara Menker, Founder and CEO, Gro Intelligence
Do you have a story that is worth featuring? Get in touch via pr[at]techbuild.ng
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.
