Gro Intelligence

Gro Intelligence, an agricultural insights platform, is shutting down after failing to secure sufficient capital to continue operations. The company, which had previously laid off 60% of its staff in March during a last-ditch funding effort, informed remaining employees this week of its closure, retaining only a skeleton crew to wind down. Founded in 2012 and once valued with an $85 million Series B round, Gro Intelligence faced challenges including a fundamental mismatch between its product and the market, reliance on a few key clients like Unilever, and unsuccessful attempts to expand its government and international business. The closure follows months of turbulence, including leadership changes, payroll issues, and ongoing investigations by the SEC and lawsuits from former employees over alleged labor law violations. The company, based in New York and Nairobi, operated in the agtech industry and had scaled to become one of TIME's 100 most influential companies in 2021 before its decline.

Gro Intelligence laid off 90 employees representing approximately 60% of its workforce on 2024-03-01.

In late January, Gro Intelligence, a New York- and Nairobi-based AI-powered agricultural and climate data insights startup, laid off approximately 20 employees, representing 10% of its workforce. The cuts, described as board-mandated "workforce adjustments" to reduce costs, were implemented abruptly, with affected staff notified on a brief company call. While the company, which raised an $85 million Series B in 2021, boasts a strong product and clientele ranging from agribusiness to governments, industry sources suggest challenges in sales execution and focus may be hindering growth. The layoffs occur amid a broader venture capital downturn, with Gro reportedly seeking additional funding through a convertible note as it aims for stability and its next stage of development.