Figorr

What Figorr does

Figorr (formerly Gricd) is a Nigerian IoT company founded in 2017 that provides real-time cold chain monitoring solutions for temperature-sensitive products including vaccines, pharmaceuticals, agricultural produce, and perishable foods. Its technology stack combines proprietary hardware devices — the GSM MOTE for mobile shipments and LoRa & Gateway systems for stationary facilities — with a cloud-based Enterprise Solution platform that delivers continuous temperature, humidity, and location telemetry, deviation alerts, geofencing, and quality assurance reporting. The company serves four primary verticals — Healthcare, Agriculture, Logistics, and Insurance — through direct enterprise field sales and a reseller program, with named customers including DHL, mPharma, Haultrac, and NPHCDA. Revenue is generated through a mix of IoT hardware sales (MOTE devices), recurring subscription monitoring contracts (typically monthly billing), insurance-enabled data services built with partners like Catalytic Africa, and physical cold chain infrastructure rentals (cold rooms and cold trucks) operated through a sub-brand, Cold Chain Infrastructure (CCI), which spans 19+ locations across Nigeria. Geographically the company maintains its headquarters in Lagos, regional offices in Nairobi and Johannesburg, and a US office in Delaware, with $1.5M of seed funding led by Atlantica Ventures in May 2023 supporting further African expansion and the launch of its risk management / insurance platform.

Name

Figorr

Legal name

Figorr

Website

https://figorr.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Figorr (formerly Gricd) is a Nigerian IoT company providing real-time temperature, humidity, and location monitoring hardware and software for cold chain operations in healthcare, agriculture, logistics, and insurance across Africa.

Ownership category

akta.pro rank

Product category

Cold Chain Monitoring Software

NAICS

Refrigerated Warehousing and Storage (493120)

akta.pro primary industry

Cold Chain / Reefer Telematics & Condition Monitoring (TLAEAFAL)

akta.pro secondary industry

Cold storage facility environmental sensing (rooms, freezers, blast chillers) (TLAEALAL)

Keywords

• Cold chain monitoring
• IoT temperature tracking
• Cold chain insurance
• Pharmaceutical logistics
• Perishable goods monitoring

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Enterprise Monitoring Solutions: Subscription-based real-time monitoring services for enterprises requiring temperature, humidity, and location tracking of temperature-sensitive products
2. IoT Hardware Devices: Sale of proprietary IoT devices including GSM MOTE for mobile tracking and LoRa & Gateway systems for stationary facilities
3. Insurance Services: Data-powered insurance platform providing coverage for temperature-sensitive products, enabling insurance companies to underwrite risks and process claims using collected monitoring data
4. Cold Chain Infrastructure Rental: Rental of cold rooms and cold trucks across Nigeria through their cold chain infrastructure platform (cci.figorr.com)

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Figorr provides an IoT-based real-time cold chain monitoring platform that tracks temperature, humidity, and location of temperature-sensitive products such as vaccines, pharmaceuticals, and perishable foods throughout storage and transit. The offering combines proprietary hardware devices (GSM MOTE for mobile shipments and LoRa & Gateway for stationary facilities) with a cloud-based software platform, plus data-powered cold chain insurance and physical cold chain infrastructure rentals across Nigeria.

Product overview

Figorr (formerly Gricd) is a Nigerian IoT company offering a comprehensive cold chain monitoring ecosystem. The core product is the Enterprise Solution platform for real-time temperature, humidity, and location monitoring of perishables, supported by hardware devices including GSM MOTE (for mobile shipments) and LoRa & Gateway (for stationary facilities). Additional modules include Cold Chain Infrastructure for cold room/truck rentals, Insurance Service for data-powered coverage of temperature-sensitive goods, and an Inventory Management System. The company serves healthcare, agriculture, logistics, and insurance sectors across Africa.

Differentiator

Problem solved

Functional benefit

Brands

• Cold Chain Infrastructure (CCI): A subsidiary platform for cold chain infrastructure services including cold room and cold truck rentals across Nigeria

Products and services

• Enterprise Solution Real-time monitoring software platform that tracks temperature, humidity, and location of temperature-sensitive goods throughout the cold chain, providing instant alerts for deviations and quality assurance reports. Designed for enterprises in healthcare, agriculture, and logistics sectors.
• Cold Chain Infrastructure Platform for renting cold rooms and cold trucks for temperature-controlled storage and transport, available across Nigeria with over 19 cold room locations. Enables individuals and businesses to conveniently access temperature-controlled storage and transport.
• Cold Chain Insurance Service

Quantifiable outcome

• Track over 215 million items worth $600M+ in products
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Two partnerships are on record, tiered core.

• Catalytic AfricacoreStrategic or Co-development Partner · 28 November 2023Catalytic Africa provided strategic support for Figorr's insurance product launch, enabling the company to offer data-powered insurance coverage for temperature-sensitive products.
• Insurance PartnerscoreStrategic or Co-development PartnerFigorr has partnered with top insurance companies to provide cold chain insurance protection. The monitoring data is used for swift verification of insurance claims and to enable coverage for previously uninsurable temperature-sensitive products.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Tive: Tive offers IoT trackers and a supply chain visibility platform monitoring temperature, humidity, location, and shock across in-transit shipments. Comparable to Figorr's GSM MOTE product and Enterprise platform for cold chain visibility across multiple verticals.
• Controlant: Controlant provides real-time cold chain monitoring IoT devices and a cloud visibility platform, primarily serving pharmaceutical manufacturers and 3PLs. It is a direct competitor to Figorr's Enterprise Solution in pharma cold chain monitoring, though focused on global markets rather than Africa.
• Berlinger: Berlinger manufactures temperature monitoring devices (Fridge-tag, Q-tag) used in vaccine cold chains globally, including many African immunization programs via WHO PQS. Direct competitor in pharma-grade cold chain data loggers.
• Cloudleaf: Cloudleaf provides supply chain digital twin and real-time condition monitoring (temperature, humidity, location) using IoT sensors. Comparable to Figorr's Enterprise Solution in offering real-time environmental monitoring for sensitive shipments.
• Roambee: Roambee provides real-time shipment visibility and condition monitoring (temperature, humidity, shock, light) via IoT sensors and a cloud platform. Comparable to Figorr's Enterprise Solution for multi-modal cold chain visibility.

Regional players

• ColdHubs: ColdHubs operates solar-powered walk-in cold rooms across Nigeria for smallholder farmers and aggregators to reduce post-harvest losses. Regional peer to Figorr's CCI cold room rental business in the same Nigerian agriculture market.
• InspiraFarms: InspiraFarms provides off-grid, solar-powered cold storage rooms and processing infrastructure for horticulture and dairy in Africa. Comparable to Figorr's Cold Chain Infrastructure (CCI) cold room rental business in the African agriculture cold chain.

Emerging players

• Zipline: Zipline operates drone delivery of blood, vaccines, and medical supplies across Rwanda, Ghana, Nigeria, and other African countries. Adjacent in African healthcare cold chain logistics with overlap on vaccine distribution, though focused on autonomous delivery rather than monitoring infrastructure.
• Tagbox Solutions: Tagbox (formerly Intugine) provides IoT-based real-time visibility and condition monitoring for cold chain and pharma shipments in India and emerging markets. Comparable emerging-market peer to Figorr with similar tech stack and vertical focus.

Broad incumbents

• Sensitech: Sensitech (a Carrier Global company) provides global cold chain visibility solutions including TempTale temperature data loggers and real-time monitoring for pharma and food. It is the most established global player in the same product category as Figorr's MOTE devices, with much broader geographic coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GO_FIGORR
• LinkedInlinkedin.com/company/figorr
• Instagraminstagram.com/thegricd

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds10 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Figorr