Figorr (previously Gricd) runs IoT-powered solutions that provide businesses, especially those in healthcare and agriculture, with key data such as location, humidity and temperature of highly perishable products, helping entrepreneurs to cut the losses that emerge from lack of such visibility. Figorr’s devices, which are placed/stuck in cold-storage setups, come at no cost, but users subscribe to access the collected data.

Outside Nigeria, Figorr’s solutions are currently used in Ethiopia, Ghana, Kenya, South Africa, Tanzania and Uganda. It recently entered the Kenyan market to tap the growth of its agriculture sector.

Figorr is also set to launch a risk management platform before the year 2023 ends, which will provide insurance companies with the data needed to introduce tailor-made products to their customers. The platform will be built against the data that Figorr has been collecting over the last three years to show the risk profiles of its customers.