Fife-based livestock management tech firm Duradiamond Software has secured a cash injection worth £1.15 million.
The cash will help the company enhance its offering.
Duradiamond, which trades as iLivestock and has its headquarters in Rosyth, said the new investment will also help more farmers access affordable monitoring technology.
Growing export business
The company already supports beef and sheep farmers in the UK, South Africa and Argentina.
Its technology allows farmers to manage their flocks and herds using a smartphone or tablet. .
Developed and tested in the UK, the sophisticated tech simplifies farm compliance and animal record keeping.
According to iLivestock, it also “removes cost barriers to effective livestock management and allows data-capture to fit seamlessly into farming routines”.
Economic development quango Scottish Enterprise (SE) has now teamed up with Glasgow-based investment syndicate Kelvin Capital to put more than £1m into the business.
Fife tech firm’s vision
Duradiamond/iLivestock chief executive Ewen Wardman said: “The investment has allowed us to introduce a national sales, support and back-office team, helping deliver our vision of providing high-quality modern technology with a traditional approach to customer service.
“We’re now the only company of our kind to offer a comprehensive hardware and software package on a unique subscription basis, backed with full on-farm set-up.”
Duradiamond/iLivestock sought investors who ‘share our vision’
He added: “Our offering, which includes a new industry partnership with Rappa (electric fencing and livestock control specialist), integrates software, a weigh crate, tag reader and load bars to deliver a fully integrated solution for farmers in the UK and across the globe.
“We sought independent investors who share our vision to help secure a sustainable future for the agricultural sector.”
SE entrepreneurship and investment director Kerry Sharp said: “Duradiamond Software is a great example of the kind of dynamic innovator we are so excited to invest in.
“The company’s iLivestock platform is really helping the farming industry adopt new innovations, and showing how two sectors can work together for wider benefit – not only for company and economic growth, but also for improved food security.”
We like that their affordable and integrated livestock management platform is accessible for farms of all sizes.” Susie Fisher, Kelvin Capital
Kelvin Capital investment director Susie Fisher said the cash injection into Duradiamond/iLivestock “aligns perfectly” with the syndicate’s strategy of backing globally ambitious companies.
She added: “We like that their affordable and integrated livestock management platform is accessible for farms of all sizes, and is already supporting farmers globally to improve efficiencies and meet their objectives.”
Conversation