Cold storage startup Gricd wins GreenHouse Lab demo day

Cold storage startup Gricd wins GreenHouse Lab demo day

Cold storage startup Gricd has been named winner of the GreenHouse Lab demo day after taking part in the second edition of the Lagos-based female-focused accelerator programme.

Disrupt Africa reported in July of last year GreenHouse Capital, launched by VC firm Venture Garden Group in 2017, had formed GreenHouse Lab, an accelerator programme focused on building world-class, women-led technology companies.

Online sports community was named winner of the inaugural programme, and this year’s cohort of 10 startups was selected from over 200 applications from across Africa. Upon completion of the two-month programme, the startups all pitched at a demo day earlier this month, which brought together over 150 investors, corporates, founders and media.

Gricd, which builds Internet of Things (IoT)-enabled smart active cooling devices to store and transport temperature-sensitive vaccines and pharmaceutical drugs, was named the winner of the competition. In addition to the judge’s prize, an Audience’s Choice online poll was also conducted, for which Gricd was also selected as the winner.

The startup walks away with NGN1 million (US$2,800) in prize money and the chance of securing investment from GreenHouse Capital.

“The fact that Gricd emerged the winner of the pitching competition as well as the Audience’s Choice voting competition demonstrates the transformative potential of the startup not only to generate returns for investors but to also touch lives across Africa,” said GreenHouse Capital founding partner Kunmi Demuren.

“We congratulate Gricd as well as the other nine startups that participated in this year’s GHL cohort and we enjoin everyone to look out for more exciting news from GreenHouse Capital as we go into 2020.”

South Africa Today

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