Madrid-based startup Algori raises €3.6M to scale AI-powered shopper insights across Europe and Latin America

Algori, a Madrid-based startup building an AI-driven shopper insights platform for the FMCG industry, has raised €3.6 million to support its expansion across Europe and Latin America. The round includes new backers such as Red Bull Ventures and Tech Transfer Agrifood, alongside continued support from existing investors, including Shilling, Flashpoint, and Change Ventures. The raise brings Algori’s total funding to €7.5 million.

The company sits in a category long dominated by traditional household purchase panels, many of which rely on relatively small samples and slow reporting cycles. Algori is betting that FMCG brands and retailers are ready for a different approach, one that trades extrapolated estimates for real purchase data collected at scale and delivered with far less delay.

Algori gathers shopping data directly from consumer receipts, both physical and digital, submitted through its mobile apps. Those receipts pass through the company’s in-house AI classification system, which structures each item at the individual SKU level. That process allows Algori to track full shopping baskets, pricing changes, promotions, and purchase missions across retailers and shopper groups, without relying on direct retailer integrations.

In Spain, the platform draws from a panel of about 45,000 weekly shoppers, a sample size that stands out in a sector where traditional panels often work with far fewer active participants. The company says this scale enables it to deliver updated data to clients just four days after the end of a reporting period, compared with the weeks it can take legacy panels to publish results.

The speed matters in an industry shaped by tight margins and fierce competition for shelf space. FMCG manufacturers and retailers lean on shopper data to make decisions around pricing, distribution, assortment, and promotional strategy. Gaps in visibility, whether caused by delays or limited product coverage, can translate into missed signals and lost ground.

Algori’s view is that receipt-level data closes many of those gaps. Each receipt reflects what shoppers actually buy, across brands large and small, store formats, and channels. By processing that information at THE product-code level, the company aims to offer a clearer picture of category performance and shopper behavior than panels focused mainly on top-selling brands.

“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,” said Andrius Juozapaitis, co-founder and CEO of Algori. “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.”

That mix of technology and industry support is central to Algori’s pitch. Alongside venture firms, the startup has attracted backing from strategic investors tied closely to food, beverage, and consumer goods, a signal that some players inside the market see firsthand value in faster and more transparent data.

The platform is already used by more than 30 major FMCG brands across Europe, including multinationals such as L’Oréal, Coca-Cola, and Tetra Pak. Algori also works with most of Spain’s leading grocery chains, providing broad exposure across retailers and private-label manufacturers.

Pedro de Alava, fund manager at Tech Transfer Agrifood, pointed to that validation as a key reason for the firm’s involvement. “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 organize new launches and monitor sales,” he said.

For investors already on the cap table, the latest round reflects confidence in both the model and the timing. Ricardo Jacinto, a partner at Shilling Capital, said the firm has closely monitored Algori’s progress as FMCG companies seek alternatives to legacy data providers. “Their panel combines modern technology with a lean and cost-effective model, while delivering the most granular, flexible and transparent insights in the market,” he said.

Algori operates with an 18-person team split between Madrid and a product and engineering hub in Vilnius. The new funding will help the company enter additional European markets, with Poland, Germany, and France among the first targets, before moving into Latin America. The capital will also be used to expand the shopper panel and develop new data products for both manufacturers and retailers.

Jared Schrieber, co-founder of InfoScout and former Numerator board member, chairs Algori. Schrieber led Numerator through its growth and sale to Kantar for $1.5 billion, an experience that gives Algori credibility in a space shaped by large incumbents and data-heavy operations.

For now, Algori’s challenge is execution. Expanding into new countries means recruiting and retaining large numbers of active shoppers, and maintaining data quality as volumes increase. Brands will be watching closely to see whether the speed and depth Algori promises can scale beyond its home market.

The bet behind this round is that FMCG companies are ready to move on from slow, sample-limited panels. If that shift continues, Algori wants to be positioned as the reference source for how products move through baskets, stores, and markets across Europe and beyond.