2024-11-26——
Almanac acquires Gro Intelligence IP and assets following liquidation
A short entry: a summary of the public record, checked against its sources, not yet read and analysed by Gianluca. How the register works
Almanac, formerly Semios, acquired the intellectual property and assets of Gro Intelligence, including its AI models, brand, data sets and customer contacts, through an auction. The acquisition was reported on 21 November 2024 by AgFunderNews and on 26 November 2024 by HortiDaily, following Gro Intelligence's closure and business liquidation.
What happened
- Almanac acquired the IP and assets of Gro Intelligence, including the brand name, data sets, customer contacts and AI models, and none of the liabilities (AgFunderNews, 21 November 2024).
- Almanac CEO Sumer Johal said the assets were acquired through an auction.
- Gro Intelligence raised $85 million in a Series B funding round in January 2021.
- Gro Intelligence used public and proprietary data from sources including satellite imagery, government data, trade organizations and weather reports to deliver insights on food production, climate and crop yields.
- Almanac, formerly Semios, previously acquired Agworld, Altrac and Centricity, and employs 300 people across B.C., Australia, New Zealand and the U.S.
- Tracxn lists Gro Intelligence as founded in 2014 by Sara Menker, Sewit Ahderom and Nemo Semret, with total funding of $88.5M across 4 rounds.
Who is involved
Almanac
Almanac empowers farmers by delivering actionable insights through a suite of products and digital tools as the trusted source of global farm intelligence.
Gro Intelligence
Sources
- hortidaily.com — primary
- biv.com — party background
- agfundernews.com — party background
- tracxn.com — party background
- agfundernews.com — party background
Announced 2024-11-26