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Funding

Farming stock management software startup plants $11 million raise

- May 10, 2024 2 MIN READ
AgriWebb
The AgriWebb cofounders Kevin Baum, Justin Webb and John Fargher
Digital beef cattle management platform AgriWebb has raised US $US7.2 million (A$11m).

The 10-year-old startup attracted listed Swedish climate solutions firm Munters Group as a new investor, with existing backers Germin8 Ventures, Grosvenor Food & AgTech, and Telus Ventures, the VC arm of the Canadian telecommunications giant, also part of the round.

AgriWebb, founded in 2014, previously raised $30 million in a Series B at a $100 million valuation in January 2021, then topped it up with a further $10 million in late 2022 in a raise led by the Clean Energy Finance Corporation, which invested $6 million, as weel as Grosvenor Food & AgTech, Telus, plus Germin8 Ventures and iSelect Fund also joining the cap table. 

In 2108 AgriWebb raised $14 million from UK outfit Wheatsheaf Group and acquired FarmWizard, a livestock and dairy management software platform, from Wheatsheaf as part of the deal.

The software platform gives meat packers and retailers access to data to reduce emissions in their supply chain. It has features such as farm mapping, grazing management, and inventory tracking and can also be used in other agricultural sectors such as aquaculture and greenhouses.

It’s currently being used to manage more than 23 million head of livestock across more than 150 million acres in 18 countries, mainly in Australia, UK, United States and Brazil.

Munters said its investment is part of the strategy to build an ecosystem of digital solutions to support a more responsible food production value chain.

The company’s foodtech president, Pia Brantgärde Linder said the software platform allows farmers to leverage their data more effectively to increase on-farm productivity, traceability and sustainability

“AgriWebb’s cloud-based solution for livestock management complements our portfolio of digital solutions well,” he said.

“It supports our vision to monitor and optimise the entire value chain to improve sustainability and animal welfare.”

The funding is expected to last until AgriWebb reaches profitability after a decade in business.

 

 

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