Algori bags €3.6m to scale AI driven shopper insights platform across Europe and Latin America

Algori, a purchase and behavioural data platform built for the FMCG industry, has secured €3.6 million in additional growth capital.

The round attracted new investors including Red Bull Ventures, Tech Transfer Agrifood (Clave capital), Co-Invest Capital, AttaPoll, and Firstpick, and also saw participation from existing backers Shilling, Flashpoint, and Change Ventures.

The company’s investor base also includes Jared Schrieber, co-founder of InfoScout and former Numerator board member, who led Numerator to its $1.5 billion acquisition by Kantar.

The funding will support Algori’s planned European and Latin American expansion. It will also bolster its shopper panel capabilities and accelerate development of new AI enabled insights solutions.

Andrius Juozapaitis, Co-founder and CEO at Algori, says: “The shopper panel industry is undergoing a structural shift. Manufacturers and retailers want more granular data delivered faster, and traditional panels simply cannot do that at the depth required.”

“Our approach diverges by combining artificial intelligence technology, scale, and data recency. Outside of VC funds, we’re now backed by FMCG companies intent on solving their own data challenges. It’s an enormous endorsement from within the industry, and proof FMCG stakeholders understand the value of the most granular, high frequency purchase insights platform for Europe and beyond.”

Based in Madrid with a product and engineering subsidiary in Vilnius, Algori operates with an 18-person team. The platform is used by FMCG brands and private label manufacturers. This includes the majority of Spain’s top 15 grocery chains and over 20 manufacturers, plus multinationals like L’Oréal, Coca-Cola, and Tetra Pak.

Pedro de Alava, Fund Manager at Tech Transfer Agrifood (Clave Capital), says: “Algori’s technology provides a more advanced way to capture shopper behaviour, which results in faster and more granular visibility across categories.”

“This level of insight helps the industry and retailers organise new launches and monitor sales. It is a high-performing team that combines experience and expertise from both brand and market intelligence. After seeing Algori in action and validated in Spain, we are pleased to support Algori as they scale across Europe and beyond.”

Ricardo Jacinto, Partner at Shilling Capital (the VC arm of Draycott), says: “Algori has been ahead of the curve for some time in FMCG data. Their panel combines modern technology with a lean and cost-effective model, while delivering the most granular, flexible and transparent insights in the market.”

“We have been following their journey closely, and it is clear to us that the FMCG industry will increasingly choose this type of solution. We are excited to double down on our previous investment with a team that is building tools elevating how brands and retailers understand the market and their consumers.”

This round brings Algori’s total funding to €7.5 million. European expansion plans will begin with various markets, such as Poland, Germany and France, with Latin America to follow. The company says it will also enhance its shopper panel capabilities by collecting additional purchase and behavioural data, and develop new insight solutions that address the evolving needs of FMCG manufacturers and retailers.

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