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Regenerative agriculture and livestock management solution AgriWebb has today increased its Series B funding round to $40 million, with additional funding received from leading sustainability and agtech investment firms.
The latest $10 million tranche was backed by new investors Germin8 Ventures and iSelect Fund, which joined existing share investors including Grosvenor Food & AgTech, Telus, and The Clean Energy Finance Corporation.
The extra funding marks a new milestone in the Sydney-based company’s mission to become ‘the most comprehensive ground-truth database for sustainable beef production’.
Founded in 2014 by fifth-generation farmers, AgriWebb is a livestock management platform that has oversight of more than 19 million animals across 55 million hectares of land around the globe including Australia, the US and the UK.
The capital has been earmarked for product expansion, enabling the platform to release new features and capabilities that support improved animal productivity as well as sustainable land stewardship.
Co-founder and executive chairman Justin Webb hopes the platform will evolve to help not only current farmers but the next generation too as they take over management with key operational data at their fingertips.
“Livestock producers deserve better technology to help them maximise their business and consumers need more reliable provenance for the animal and environmental welfare of their food,” Webb said.
“We know it, and the investment community reflected that dynamic. AgriWebb has always been about serving the farmers, and this round of funding doesn’t change our mission; it simply magnifies it.”
The $40 million Series B will also fertilise the company’s plans to launch and rapidly expand a unified agtech ecosystem built to address producers’ growing need to harness data insights that help them command greater value from red meat.
Early-stage partners on the ecosystem project include Cibo Labs, FarmBot and FarmO.
Germin8 Ventures managing partner Michael Lavin said there were few software options on the market capable of accelerating regenerative agriculture practices, and even fewer that target livestock production rather than being at odds with it.
“AgriWebb is a stand-out in terms of the value brought to its customers, its top-quartile performance across a variety of SaaS benchmarks, the expansive data opportunities available to the company and the authenticity in the founders’ backgrounds deeply rooted in ranching,” Lavin said.
“There is a misconception that agriculture is at odds with climate, but the importance of sustainability and implementing sustainable practices is not lost on farmers and producers. In fact, for farmers, the long-term sustainability and viability of their land is of utmost importance. Talk to any landholder and you’ll understand their long-term goal is to pass on their land in better condition to the next generation.
“Sustainable and regenerative practices can and do exist in tandem with productive and profitable farms, and we remain steadfast in our endeavour to support producers now and in the future through data that measures, manages and improves the sustainability of the food supply chain from farm to plate.”
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