MOVAC 3 invests in Kiwi agri-tech business
Wellington investment firm MOVAC has announced its investment in Kahne Animal Health. This is MOVAC’s second investment from its $42m early stage growth fund.
Kahne produces biotelemetry-based precision farming solutions used to improve farm management, productivity and profitability. Kahne’s wireless rumen sensor technology is used to monitor cattle, providing farmers with information on their herd’s nutrition, health, behaviour and welfare. Kahne has also developed a vagina-based sensor system that monitors physiological parameters to determine the optimal time for mating.
MOVAC partner Mark Stuart said that Kahne was an excellent example of New Zealand ability to produce world class technology companies with significant potential in an industry where New Zealand is a global leader.
“The Kahne team has developed patented technology that enables the farmer to better understand general herd trends and individual animal characteristics. This has enormous potential in terms of milk production, reproductive cycles and preventative treatment.
“Kahne’s team and technology are highly compelling, and our investment will allow the Kahne team to capitalize on their hard work, to grow their business faster.”
Kahne CEO Susanne Clay said that the successful capital raising would provide the financial resources to exploit the potential market demand.
“We all know the critical role that agriculture plays in the New Zealand economy. We’ve worked alongside farmers to understand their needs and then demonstrate how our technology can help them to increase their profitability.”
“Importantly for us, there’s been significant interest in our solutions from kiwi farmers and farm support businesses. We’re looking forward to working together to help ensure the long term competiveness and sustainability of New Zealand’s livestock farming industries.”
Landcorp is keenly watching the development of Kahne’s technologies.
“We look forward to working with Kahne to support their development of solutions that add value to our livestock operations”,
a Landcorp spokesperson commented.
Paul Sharp, managing director of Pukekohe-based Nutrition Solutions Ltd said,
“As a nutrition consultant, Kahne’s bolus technology will offer me the opportunity to much better recommend farm feeding and system changes. With the Kahne system, I’ll be able to monitor exactly the effect of any changes to the cow’s rumen function, allowing more accurate and profitable feeding decisions”.