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Since its launch two years ago, Agritech start-up Livestock Labs has pioneered an implantable health tracker (EmbediVet) for livestock. It is designed to reduce the need for costly herd inspections and treatments.
The implant is supported by a handy app, which farmers can link to the implant and receive critical health alerts and biometric data for their livestock, or review the health history of individual cattle. It enables farmers to be better informed about the condition of their herds and generally increases certainty for them around the quality of their farm products. “EmbediVet helps the farmer be more efficient and focus on what they do best which is caring for their livestock and bringing great products to market,” Rohina says.
Working in partnership with Radium
Livestock Labs faced similar challenges to most start-ups – validating products and securing approvals for technology innovations – all of which takes working capital and consistent cash flow.
“We needed to stay on top of our funds and were looking to avoid raising too much debt or becoming too diluted,” Rohina explains.
Livestock Labs started to explore its options, including advances on its R&D refund. The business decided to choose Radium because of the transparent, quick and seamless customer-focused process it offered.
Radium Advances helped Livestock Labs invest more in its R&D program and get the right resources on board to move its technology forward quickly. The months ahead will be an intense and exciting period for Livestock Labs and its innovation program as it continues to trial and validate its technology.
The business has already had enquiries from across the world and has plans in place to scale its Agritech innovation globally.