Key Takeaways:
- Strategic Acquisition: Almanac has acquired the intellectual property and assets of Gro Intelligence, a former leader in global agricultural data analytics.
- Enhanced Capabilities: The acquisition bolsters Almanac’s platform with AI-powered tools and extends its reach into new areas, including agricultural insurance, lending, trading, and CPG procurement.
- AI-Driven Insights: Gro Intelligence’s data platform incorporated satellite imagery, government reports, and weather data to deliver actionable insights on food production, climate, and crop yields.
- Global Food Security Focus: Almanac aims to drive sustainability and productivity through data-driven agricultural solutions.
- Track Record of Growth: This move follows Almanac’s previous acquisitions of Agworld, Altrac, and Centricity, expanding its influence in precision agriculture.
Almanac, a global leader in farm data analytics and precision agriculture, has acquired the intellectual property and assets of Gro Intelligence, a major innovator in agricultural insights. This acquisition strengthens Almanac’s AI-driven platform, positioning the company as a leading force in optimizing agricultural data for connected intelligence.
Gro Intelligence, which had developed the world’s largest agricultural data platform before its recent closure, utilized advanced AI models and data aggregation from sources like satellite imagery, government reports, trade organizations, and weather data. Almanac’s acquisition integrates these capabilities into its own platform, offering deeper insights and predictive analytics to agricultural professionals worldwide.
Expanding Agricultural Intelligence
Under the leadership of CEO Sumer Johal, Almanac has demonstrated substantial growth through strategic acquisitions and partnerships. In 2021, the company expanded its crop management platform by acquiring Agworld, Altrac, and Centricity. With the addition of Gro Intelligence’s assets, Almanac extends its influence into new areas of the agriculture value chain, including:
- Agricultural insurance
- Lending
- Trading
- Consumer Packaged Goods (CPG) procurement
“This acquisition is a quantum leap for Almanac in our mission to revolutionize agricultural practices through advanced technology,” said Sumer Johal, CEO of Almanac. “By integrating Gro’s robust AI-powered data platform within our own, we are aiming to enhance our ability to deliver actionable insights across the global agricultural sector, driving sustainability and productivity for agriculture professionals everywhere.”
Gro Intelligence’s Legacy
Founded with the mission of transforming global food systems through data, Gro Intelligence secured $85 million in a Series B funding round in January 2021. The company aggregated public and proprietary data to provide actionable insights on food production, climate impacts, and crop yields. Despite its closure, the intellectual property and assets of Gro Intelligence will now bolster Almanac’s efforts to deliver:
- Advanced predictive analytics for crop management.
- Improved risk assessments for agricultural insurance and lending.
- Optimized data solutions for global trading and CPG procurement.
