Livestock data platform Breedr has raised £12m in a funding round led by Investbridge Capital via its AgTech Fund. Additional investment came from previous backers LocalGlobe and Forward Partners, as well as its recent crowdfunding.
Breedr is a data analysis tool for farmers to record animal information using their phone. The data collected can then be used to improve efficiencies and sustainability. Farmers can also sell animals through the live trading platform and use them as a cash-flow product.
One of Breedr’s new products is a data financial tool called ‘Breedr Impact’, which lets farmers release equity from their livestock to expand their business.
Breedr will use the funding to develop its financial products and for international expansion into the Australian and US markets.
“We have created Breedr to put data at the heart of farming,” said Ian Wheal, founder and CEO, Breedr. “By enabling farmers to grow healthier animals, we’re transforming the industry: allowing farmers to use their animals to make investments in their farms, improve trading and provide more transparency to the supply chain – which is sorely needed in this under-invested industry.”
Wheal founded Breedr in 2019 and to date it has 4,000 signups with over 160,000 registered animals. Since January 2021, the Breedr Marketplace has sold over 6,000 animals with a combined value of over £4.5m.
Breedr claims access to data lets farmers make more sustainable decisions, as livestock counts for 15% of all human-made emissions each year globally. Farmers who use Breedr on average cut their emissions by 17%, the company said.
Farmers can be notified when their animals are in ‘peak condition’ and it is the optimal time to sell them. Breedr claims this can reduce two tonnes of food, saving over 800kg per animal,
“We’re seeing the positive impact this is having already in the UK on helping to decrease methane emissions and improve cash flow for farmers and can’t wait to expand this model across the world, starting with Australia and the US,” added Wheal.
Previous funding rounds include a £2.2m funding round in March 2021. To date, Breedr has raised £17.5m.
In 2021 UK impact tech startups raised $2bn, up from £1.7bn in 2020.