Figorr Raises $1.5M in Seed Funding
Summary
Gricd, rebranded as Figorr, a Lagos, Nigeria-based technology company that develops Internet of Things-powered solutions, raised $1.5M in Seed funding. The round was led by Atlantica Ventures, with participation from Vested World, Jaza Rift and Katapult. The company intends to use the funds for the roll out of a proprietary risk management platform that will provide data that will make it easier to insure perishable and temperature sensitive goods on the continent. Led by CEO and Founder Oghenetega Iortim (photo), Figorr develops IoT-powered solutions that complement existing infrastructure and assets to reduce or eliminate losses associated with the transportation and storage of temperature sensitive and perishable goods in Africa. The company’s solutions provide real time data on location, humidity, temperature and other key data points, enabling businesses and other stakeholders in agriculture, healthcare, logistics and other sectors across Africa to maximise the value of perishable and temperature sensitive goods such as vaccines, insulin and food.