Holy cow! Connecterra raises largest series B of all time for livestock tech
HLaw client Connecterra recently closed a €7.8 million series B funding round, thought to be the largest ever series B closed by a livestock tech company and bringing aggregate funds raised by Connecterra to date to around US $18.3 million.
New investors on this round were investment manager ADM Capital, the French food safety corporate Kersia and Dutch impact investor Pymwymic (short for ‘put your money where your meaning is community’). Following their money were existing investors Breed Reply and Sistema VC.
Connecterra builds cutting-edge hardware and software for use by farmers looking for predictive intelligence to drive productivity and sustainability. Its ‘Ida’ platform has been built particularly for dairy farmers. Existing users of the Ida platform include industry giants such as the French multi-national, Danone and the German multinational pharmaceutical and life sciences corporate, Bayer.
With this latest round of funding in hand, Connecterra is aiming to grow its presence in dairy-leading regions such as Europe, North America and New Zealand. We at HLaw are very much looking forward to following Connecterra’s continued growth and development as a business.
Yasir Khokhar, Connecterra CEO, commented: “Raising a series B during the Covid-19 crisis is not something I would recommend. But the management and investor team that made this happen is a team that you’d want to bet big on. And we couldn’t have got there without the advice and support of Humphreys Law who were a key part of that team.”
Deal/project: Series B investment
Date closed: June 2020
Other lawyers and advisors: Brodies (acting for investors)