Diligence memo · auto-generated · as of July 2, 2026
Gricd
Gricd looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Gricd operates in Hardware / Semiconductors, based in Africa. Nigerian startup Gricd, which develops Internet of Things-powered solutions to support the last-mile delivery of perishable goods, has secured US$1.5 million in seed funding and also rebranded as Figorr to signal its new focus on software solutions.
Sub-sector tags: hardware/semi.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Gricd has raised $1.5M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $1.5M on 2023-05-17.
Most recent recorded round closed around 2023-05-17.
Valuation (modeled)modeled
Provath models Gricd at approximately $9.7M (range $1.3M–$35M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.96× the median modeled value of Seed Hardware / Semiconductors companies in 2022–2024 (8 peers) — value vs value, same stage and era. Within the normal band (96% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 3.1 yr ago; this sector typically re-raises about every 16 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 63% of Hardware / Semiconductors peers (130 compared).
Modeled value ranks above 58% of those peers.
Closest niche peers: Radical Semiconductor, Inc., Lightning Silicon Technology, Inc., Silicon Vistas 113 LLC, Cerebrum Sensor Technologies Inc., Monitor APP IOT Holdings Inc..
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.