Figorr is a technology company.
Figorr has raised $2.0M across 1 funding round.
Figorr has raised $2.0M in total across 1 funding round.
Figorr is a Nigerian technology company specializing in IoT-powered cold chain solutions for temperature-sensitive products in agriculture, healthcare, and pharmaceuticals.[1][2][4] It provides real-time monitoring of temperature, humidity, and location via subscription-based devices, alongside data-driven insurance, inventory management software, and cold room/truck rentals, primarily serving businesses to reduce spoilage losses in storage and transportation.[1][2][4] Figorr solves critical visibility gaps in perishable goods supply chains, having tracked over 110 million items and saved customers more than $200 million in potential losses, with operations expanding across Africa including Ethiopia, Ghana, Kenya, South Africa, Tanzania, and Uganda.[1][3]
The company has raised $1.5 million in seed funding led by Atlantica Ventures, plus $1.7 million total equity and $275,000 in grants from entities like Google Black Founders Fund and Africa Business Heroes, fueling its growth amid rising demand in Africa's agriculture and health sectors.[1][3]
Figorr was founded by Oghenetega (Tega) Iortim, inspired by post-harvest losses from his own fresh agro-produce venture, leading him to develop better storage and transportation for temperature-sensitive goods.[1] Originally named Gricd, the company pivoted in 2020 from broader IoT solutions to focus on monitoring perishable products after strong interest in its temperature-tracking capabilities.[1] Early traction came through grants and partnerships, enabling expansion beyond Nigeria; a pivotal $1.5 million seed round in 2023 supported continental rollout and new features like risk management platforms.[1][3]
Iortim's leadership has driven key moments, including a partnership with Gavi, the Vaccine Alliance, as an INFUSE Pacesetter for vaccine cold chain improvements, building on initial successes in Nigerian agriculture.[3]
Figorr rides the wave of Africa's cold chain digitization trend, addressing massive post-harvest losses (up to 40% in agriculture) and vaccine distribution challenges amid population growth and health initiatives.[1][3] Timing aligns with rising agtech and healthtech investments, plus IoT adoption in emerging markets, where poor visibility causes billions in annual spoilage.[1][2] Market forces like expanding African agriculture (e.g., Kenya's sector) and global vaccine equity efforts via Gavi favor Figorr, positioning it as a key enabler for sustainable supply chains.[1][3] It influences the ecosystem by setting standards for data-backed insurance and monitoring, inspiring similar solutions and supporting small businesses in underserved regions.[3][4]
Figorr is poised for accelerated pan-African expansion, leveraging its funding and partnerships to deepen healthcare integrations (e.g., more Gavi-like deals) and agtech dominance, potentially entering new markets via Kenya as a hub.[1][3] Trends like AI-enhanced predictive analytics, climate-resilient farming, and insurance tech will shape its path, amplifying savings and scalability. Its influence may evolve from niche monitor to full-stack cold chain platform, redefining perishables logistics and empowering Africa's $1T+ food economy—turning losses into resilient growth, much like Iortim's initial agro-venture sparked the vision.[1][3][4]
Figorr has raised $2.0M in total across 1 funding round.
Figorr's investors include Katapult VC.
Figorr has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in May 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2023 | $2.0M Seed | Katapult VC |