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Melbourne agritech company Agersens says it has raised $14.75 million capital including cash from existing investors such as NZ’s Gallagher Group.
Chairman Andrew Maxwell says the capital raising will allow the company to scale up, and it will assign the marketing and sales of eShepherd to Gallagher in Australia and New Zealand.
“Our investors have taken a considered view of the growth potential of eShepherd, believing in the virtual fencing value proposition and its potential to transform livestock production globally,” Agersens said.
“With Gallagher being a global leader in the innovation, marketing and sales of smarter, simpler animal management solutions that make farm life easier, eShepherd should be a good fit for their product portfolio.”
Mark Harris, Gallagher animal management marketing manager says his company applauds the environmental, productivity and labour-saving possibilities of eShepherd for pastoral farming.
“Gallagher has been promoting managed grazing systems using electric fencing for more than 80 years, and eShepherd is the next major development for improved grazing,” Harris adds. “For this reason, Gallagher has taken a significant interest in Agersens as part of this capital raising.”
Agersens claims to be revolutionising global livestock production by applying virtual fencing technology developed by the CSIRO. The company holds the worldwide exclusive licence for the technology.
Its partners include beef and dairy farmers, CSIRO, Gallagher, state and federal governments, Meat & Livestock Australia, Dairy Australia, universities, agricultural research organisations, cattle and dairy farmer associations, and natural resource managers.
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