Investing Non-Executive Directors (Non-Exec) with experience in high growth start-up businesses for a disruptive technology that delivers autonomous health tracking and data analytics for the farming industry. Their technology has been featured in international farming publications, such as WattPoultry and AgFunder News. They have been accepted into accelerator schemes from Nvidia and Amazon for their focus on sustainability and AI. They have also won a highly competitive, funded pilot (valued at over £60k) with one of SE Asia’s leading agri-food firms.
The business concept is to be a leader in livestock data collection and analytics, an area that has remained largely untouched by incoming technologies. The initial focus is on poultry weight data. By accurately measuring and predicting weight, farmers can adjust the feeding cycle, produce healthier livestock, and create a kinder environment for the animal. Their farm-centric IoT data pipeline and hardware solution allows reliable, continuous, livestock data collection, and is set to revolutionise the agricultural industry. Using machine learning and sophisticated algorithms, the summary statistics and forecasts are highly accurate. Hence the growing process becomes more efficient for the farmer, and kinder on the poultry. As their centralised database builds over time, the accuracy is further enhanced, and additional software services can be developed.
The company is looking to strengthen their Board with the appointment of 3 Investing Non-Executive Directors, who will join the existing investors, contributing their knowledge, experience and networks to the growth of the company.
The Non-Executive Directors will be encouraged to become shareholders in the Company to align the incoming Non-Exec’s interest with that of the existing Directors who are shareholders.
Business Concept:
Our client was born from analysis work in the farming industry, which revealed that many practices in livestock production, especially in relation to weight measurement (a key indicator of health) were entirely manual. The team soon evolved into a start-up business with an IoT SaaS solution that has transformed the weighing and data analysis processes.
- Autonomous health monitoring and analytics services, using machine learning for enhanced accuracy.
- Technology-enabled health forecasting services for fast illness detection and confident weight estimates.
- Enable farmers to consistently achieve ideal feed conversion ratios and therefore optimise feeding cycles.
- Provide a non-invasive system that is more bird-friendly, hence reducing stress in the animals.
Market & Opportunity:
- Globally the sector raises 65 billion chickens a year and this is expected to continue increasing. The global agricultural technology market is valued $10 billion.
- The UK market alone produces 6 billion chickens per year and the number one producer has shown strong interest in this disruptive technology.
- SE Asia represents an exciting market opportunity as it dominates the global growth in meat production. Firms are seeking to optimise resource allocation via technology to ensure lower bird losses and achieve more competitive pricing.
Client Proposition:
- Our client is looking to close a total of £200,000 of funding (of which (circa) £66,000 has come from winning a pilot project with one of Asia’s largest agri companies and £35k from two early investors). This will allow us to reach demonstrator device level and start generating sales
- Total Investment sought circa £100,000
- SEIS/EIS Assurance / Yes
- Total Equity offered / 6% (i.e. 2% per £30,000 investment)
- Use of funds: Deploy demonstrator model into major poultry company. Refine technology based on feedback. Develop commercial rollout and mass-manufacturing strategies.
Non-Exec Director Roles/Requirements/Expertise:
- CFO: Ideally with experience in high growth technology businesses. Start-up type expertise would be a plus, along with international experience and have knowledge of fundraising.
- Sales and Marketing: With excellent Agricultural connections, perhaps through selling Technology into the sector either directly or through distribution.
- Manufacturing and Supply Chain: Experience in the development / manufacturing of digital hardware technology and/or associated interconnectivity employing cloud based and IoT solutions.
Applying for the role:
Candidates who feel they meet the above criteria are invited to apply having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1158 and completing the application form explaining how they match the key criteria we have set out for the role.
Closing date for applications: Wednesday, 22nd September 2021
