Intel Capital, a corporate venturing subsidiary of semiconductor technology provider Intel, has co-led an $85m series B round for Gro Intelligence, a US-based developer of supply chain analytics software.
The round was led by Africa Internet Ventures, a partnership between venture capital fund EchoVC and growth equity fund TPG Growth, and included Data Collective (DCVC), GGV Capital, Rethink Food, private investor Dick Parsons and various family offices.
Gro Intelligence has created a software platform that uses artificial intelligence to collate feedback from data sources including sensors and satellites to analyse the agricultural supply chain.
The information is then processed and tagged to help clients build their own insights and models, allowing them to increase efficiency.
The funding will be used to enhance the company’s technology and sustain its growth plans. Its product is available as a standalone platform but also has an application programming interface that can be licensed for custom use-cases.
Gro Intelligence raised an amount reported by TechCabal to be $17.4m in a 2017 series A2 round co-led by TPG Growth and Africa Internet Ventures that included DCVC and unnamed family offices, adding to $3m in debt financing disclosed in a 2014 regulatory filing.