Ranch Bot raises $15M Series B
What's the deal? Ranch Bot has raised over $15 million (A$22 million) in a Series B led by Lewis & Clark PartnersDealroom has a profile for this one. Try Dealroom →, with participation from Fulcrum Global CapitalDealroom has a profile for this one. Try Dealroom →, Builders VCDealroom has a profile for this one. Try Dealroom →, The Cultiv8 Livestock Technology FundDealroom has a profile for this one. Try Dealroom →, Lever VCDealroom has a profile for this one. Try Dealroom →, and Macdoch VenturesDealroom has a profile for this one. Try Dealroom →. The Australian agtech company builds internet-of-things devices and software that help ranchers manage water infrastructure and livestock remotely.
Why now? Ranch Bot says water infrastructure management remains largely manual across the industry, while climate volatility, labour shortages and rising input costs are increasing pressure on agricultural businesses.
What's next? The company will use the capital to expand its team across the US and Australia, iterate on its products, and build technologies for livestock, wildlife and natural capital, including soil, pasture and biodiversity.
The expansion. Alongside the round, Ranch Bot completed a corporate flip-up, establishing Ranchbot Technology Holdings Inc.Dealroom has a profile for this one. Try Dealroom → as its new global parent. Its worldwide headquarters is now in Fort Worth, Texas.
Ranch Bot supports more than 12,000 customers managing roughly 10 million cattle and 15 million sheep across Australia, North America and other markets.
Read more: EIN Presswire
Image credit: Ranch Bot
