Lithuania’s Firstpick and Coinvest Capital invest in €3.6M Algori round

Algori, a Madrid-based data insights startup for the consumer goods field, has raised €3.6 million in growth capital. The round was backed by Lithuanian FIRSTPICK and Coinvest Capital and, bringing the company’s total funding to €7.5 million. The funds will be used for international expansion and further development of Algori’s AI-based analytics platform, tech.eu reports. 

About Algori

• Algori, founded in 2019 and headquartered in Spain with technology subsidiary in Lithuania, is a consumer analytics company that provides FMCG brands and retailers (fast-moving consumer goods, such as food, beverages, and everyday household products) with purchase data and insights based on shopping basket information. 

• The company operates an AI-based platform that delivers SKU-level insights (analysis at the level of individual products) in near real time, using data from a large consumer panel in Spain.

• Algori works with FMCG companies to support decisions in distribution, sales, and marketing. Its data combines purchase behavior with demographic and location information and does not require integrations with retailers’ sales systems. 

Investment details

The round was backed by a group of new investors, including Lithuanian FIRSTPICK and Coinvest Capital, Red Bull Ventures, Tech Transfer Agrifood (Clave Capital) and AttaPoll, along with continued participation from existing investors Shilling, Flashpoint, and Change Ventures. 

The company’s investor base also includes Jared Schrieber, co-founder of InfoScout and former Numerator board member.

The funding will support Algori’s expansion into European markets such as Poland, Germany, and France, with plans to enter Latin America later. It will also be used to strengthen shopper data capabilities and speed up the development of AI-based insight solutions for FMCG manufacturers and retailers.

Read more: Aneli Capital launched a €35M new fund to invest in the Baltics and CEE