Gro Intelligence announced today that it has raised $85 million in Series B funding. The round 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. They were joined by previous investors DCVC and GGV Capital. Participating new investors include Schusterman Family Investments, Dick Parsons, Rethink Food and various strategic family offices.
Gro Intelligence is an AI-powered insights company providing decision-making tools, solutions and analytics to the food, agriculture, and climate economies and their participants.
“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,” said Sara Menker, Gro’s Founder and CEO. “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.”
The financing will be used to accelerate the growth and global adoption of the Gro Platform, enhancing the platform’s machine-learning capabilities and delivering localized insights on food, agriculture and climate risk.
“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,” said Trina Van Pelt, Senior Managing Director, Intel Capital. “We are excited to co-lead this investment round because Gro Intelligence’s technology aligns with our mission of unleashing the power of data to improve the world.”
Featured Image Courtesy of Unsplash
Share this Post