Breedr app engages machine learning to help the farmers.
Breedr, a livestock app has successfully bagged £2.2 million in a new seed round of funding. The Investment round was infused by LocalGlobe, a London-based venture capital firm. The funding also included an Innovate UK grant of £236,000.
The other participants in the funding were from Mons Investment and the angel investors like Ian Hogarth, Darren Shapland, and Jonathan McKay.
The Forward Partners and Michael Pennington had earlier backed Breedr and still, they are with the company.
The company is leading the mission of bringing the technology like machine learning into the livestock industry and improve productivity.
Ian Wheal, co-founder and CEO of Breedr, said,
“We are bridging the gap between farmers, processors, retailers and consumers, using big data, machine learning, and machine vision. The aim is to reduce uncertainty and improve the productivity of the whole livestock market.
Breedr is an app that helps the farmer to churn out more profit by managing animal data. Through this app, the company aims to blend the livestock industry with the digital age and thus to focus on improving the farmers' profitability.
He further added,
“The beef, sheep and pig producers we are working with have a wealth of data about their animals and see our app as a way to directly add value. Today they might choose to see which animals are closest to the specification requested by their customers, but as more information is included, they will be able to benchmark against other farmers in their group.”
Initially, the farmer needs to input all the data of their livestock into Breedr app, and in return, the app assists the farmer by improving overall efficiency. Also, the Breedr app helps the farmers to sell their livestock at the right time and maximum price.
With the seed funding, Breedr will focus more on the meat supply chain market and include blockchain, smart contracts, and machine learning.
The grant of £236,000 by Innovate UK is directly an effort to add on to the “Smart Contracts” system for the meat and livestock domain. The company will administer the flows of data and transactions of the livestock industry by using blockchain or distributed ledger technology (DLT).
The company has right added the technology to the agricultural sector, and with the current pace, Breedr will serve similar industries in the future as well.
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