Total amount raised
$117.6 Millions
Latest funding date
01/01/2021
Location
Gro Intelligence has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers an AI-powered decision engine that addresses challenges in agriculture, climate, and the economy.
Keep reading to explore the intricacies of Gro Intelligence's fundraising journey and the investors backing this innovative platform.
What Is Gro Intelligence?
Gro Intelligence, founded in 2014 by Sara Menker, operates in the agriculture, AI, big data, data visualization, information technology, and SaaS industries. The company is headquartered in New York, New York, and employs between 51-100 people.
Gro Intelligence offers an AI-powered decision engine that addresses challenges in agriculture, climate, and the economy. The platform combines human and artificial intelligence to make agricultural and climate data actionable, with offices in New York City and Nairobi.
How Much Funding Has Gro Intelligence Raised?
- Debt Financing
- Amount Raised: $2.9M
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial capital for operational setup and early-stage development.
- Series A
- Amount Raised: $17.4M
- Date: July 2017
- Lead Investors: TPG Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build foundational data infrastructure and scale operations.
- Venture Round
- Amount Raised: $2.3M
- Date: November 2017
- Lead Investors: One Planet Group, Payam Zamani
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early growth and development.
- Venture Round
- Amount Raised: $10M
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's capabilities and market reach.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance data analytics capabilities.
- Series B
- Amount Raised: $85M
- Date: January 2021
- Lead Investors: Intel Capital, Africa Internet Holding
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, enhance machine-learning capabilities, and deliver localized insights on food, agriculture, and climate risk.
Total Amount Raised: $117.6M. Current Valuation: Not publicly disclosed.
Key Investors
- TPG Growth
- Details: TPG Growth is a global private equity firm that focuses on growth capital investments. They have supported Gro Intelligence from its early stages in Nairobi to its current global operations.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Uber, Airbnb, Spotify.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on technology startups. They provide funding to companies that align with Intel's strategic interests.
- Investment Focus Areas: Technology, AI, data analytics.
- Notable Investments: Cloudera, Mirantis, MongoDB.
- Africa Internet Ventures
- Details: Africa Internet Ventures is a partnership between TPG Growth and EchoVC, focusing on growth-stage companies in emerging markets. They aim to support technology and consumer sectors in Africa.
- Investment Focus Areas: Technology, growth-stage companies, African startups.
- Notable Investments: Cellulant, LifeBank, Lori.
- One Planet Group
- Details: One Planet Group is a hybrid tech firm that operates, invests in, and incubates businesses. They focus on mission-driven companies that aim to make a positive impact.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Not publicly disclosed.
- Payam Zamani
- Details: Payam Zamani is an entrepreneur and investor, known for founding One Planet Group. He focuses on supporting innovative and impactful startups.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Gro Intelligence?
Gro Intelligence stands at the cusp of a transformative journey, leveraging its AI-powered platform to address global challenges in food security and climate risk. The company’s ability to process over 650 trillion data points and integrate more than 40,000 data sets positions it uniquely to provide actionable insights to governments, financial institutions, and agricultural companies. This vast opportunity is existential in scale, promising significant impacts across multiple industries.
With the recent $85 million Series B funding, Gro Intelligence is well-poised for future fundraising rounds to support its ambitious growth plans. The company aims to enhance its machine-learning capabilities and expand its global reach, delivering localized insights that are crucial for managing food and climate risks. The involvement of high-profile investors underscores the potential for continued financial backing.
However, the path forward is not without challenges. Scaling the platform to meet global demand while ensuring data accuracy and reliability will be critical. Additionally, navigating the complexities of integrating diverse data sources and addressing competition from other AI-powered platforms will require strategic focus. Despite these hurdles, Gro Intelligence’s innovative approach and robust platform offer a promising outlook for the future.
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