Algori raises €3.6M to scale its AI shopper insights platform globally
Madrid-based Algori, an AI-powered platform focusing on purchase and behavioral data for the Fast-Moving Consumer Goods (FMCG) industry, has secured an additional €3.6 million in funding. This brings the company's total funding to €7.5 million and will fuel its expansion across Europe and Latin America. The platform's innovative approach aims to revolutionize how FMCG companies understand consumer behavior. Algori gathers purchase data directly from shopper receipts, both physical and digital, using consumer apps, which are then processed by the company's AI-based classification engine. This engine interprets and structures each item at the individual product-code (SKU) level, providing high-granularity insights across retailers, categories, and shopper segments. Unlike traditional methods, Algori's approach offers rapid, detailed visibility into shopping baskets, pricing changes, and retailer patterns. This detailed data access allows FMCG manufacturers and retailers to analyze category performance, shopper behavior, and the impacts of pricing and assortment decisions. Algori's AI capabilities provide insights across a wider range of products and manufacturers, addressing the limitations of traditional consumer panels. The company's expansion, backed by industry and VC investors, underscores the demand for more granular and timely purchase insights within the European market and beyond.
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