October 19, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

Agtech startup AgriWebb understands that there’s a distinct difference between record keeping, and being a data-driven livestock business. On its path to becoming the number one livestock business management tool available, the startup announced an expansion to its Series B funding round, having secured an additional AUD$10 million (US$6.7 million) from new investors Germin8 Ventures and iSelect Fund to bring its total fundraise to AUD$40 million (US$27 million). 

Germin8 and iSelect now join existing investors Grosvenor Food & AgTech, Telus, The Clean Energy Finance Corporation, and others who have already actively supported the company as it reaches its goals.

“Livestock producers deserve better tech to help them maximize their business and continue providing local and global communities with quality red meat,” said Justin Webb, co-founder and executive chairman, AgriWebb. “We know it, and our investors do. AgriWebb has always been about serving the farmer, and this round of funding doesn’t change this value; it simply magnifies it.”

Founded by multi-generational farmers in 2014, AgriWebb offers an end-to-end solution from basic record keeping to task assignments, weight tracking, and sales recording, giving unrivaled animal provenance traceability and data collection capabilities to range and herd managers.

With this data users can transform everyday information into powerful insights leading to a more profitable, efficient, and sustainable business and future. With a global user base of 16,000 farmers, and another 250 being added each month, AgriWebb is providing oversight for more than 19 million animals across 136 million acres of land.

“AgriWebb fits with Germin8’s thesis to invest in the full-stack enterprise software companies within agtech that bring essential enterprise value to farmers in alignment with practices that are sustainable,” said Michael Lavin, managing partner, Germin8 Ventures.

“There are very few software offerings capable of accelerating the regenerative agriculture practices our climate stands to benefit from, and even fewer that target livestock production rather than being at odds with it,” 

With the capital secured through this round, AgriWebb intends to roll out new partnerships, features, and capabilities in support of improved animal productivity and sustainable land stewardship. The company also noted that further grant allocations will enable it, and other leading U.S. agtech pioneers, to launch carbon-smart initiatives that will collectively help more than 1,250 farms and ranches manage over 130,000 animals through more measurable climate-friendly practices over the next five years.

“There’s a misconception that agriculture is at odds with climate, but the importance of sustainability and implementing sustainable practices is far from lost on farmers and producers,” said Webb. “In fact 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.”

Webb continued, “Sustainable and regenerative practices can and do exist in tandem with productive and profitable farms, and we remain steadfast in our endeavor 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.”

This funding also will be used by AgriWebb to launch and rapidly expand a unified agtech ecosystem designed to address producers’ growing need to harness greater value for responsibly produced red meat, and increase compensation for sustainable land stewardship – an endeavor that has early stage U.S. partners including RachBot and RanchSense already on-board.

Lavin concluded, “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.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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